3 better forms of short term credit than pawning

Getting money on a whim is something that can really be quite hard nowadays thanks to the tight lending criteria. A lot of us who don’t have savings often have to resort to all sorts of measures to get cash if the need arises and this has led to an increase in trade for pawn shops. Pawn shops certainly offer a means to an end, however they can be a risk and you end up often having to place priceless objects that you are emotionally attached to and love, for pawning. So, finding an alternative is often a far better option – so, here are three better forms of short term credit than pawning.

Payday Loan

Pay Day Loans

The pay day loan can really work well as a short term form of credit and for those with little or no money is a great respite. You simply take out the pay day loan and can then repay it within a set period of time – often a few weeks or more. If you are in a tight financial position this form of loan can really be of benefit if managed correctly. Lenders are also becoming increasingly competitive, meaning the interest that is repayable is often quite low, and making them a far better prospect than a visit to the pawn shop.

Credit Cards

Credit Cards

Even though you may not be able to get a credit card with an extremely competitive rate of interest, you still may be able to get one with a relatively high percentage. To many people this may seem like a quite off putting prospect, however once you repay the balance in full at the end of the month, then you will have no problems and won’t have to pay a penny for the short term loan. They are also easy to apply for and you can fill out a credit card application form easily and quickly online. This can also have the dual effect of improving your credit rating, giving you access to better money options in time.

Credit Cards

Authorised Overdrafts

The authorised overdraft facility that your bank may offer could be a far better option than pawning. In plenty of cases these overdraft options may really benefit you and often come with interest free periods allowing you to borrow before paying back a little later. Of course, if you hold on after the O% period you could end up with high interest rates piling up. However, like credit cards and pay day loans, a well organised overdraft can really be a significant benefit and be a far better option than the alternative.

These options can work really well and are often a fantastic alternative to pawning.

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