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Need Emergency Cash Now? Find Out How to Get It!

As unfortunate as it may sound, now and then you will be caught off guard in need of emergency cash. If we have to trust the statistics, this happens more often than we’d like to. With this in mind, it’s quite important to know how to get money quick when you need to. Health emergencies, car damage, and immediate repairs – all of these are but a fraction of the possible causes which could require you to need emergency cash now.

With this in mind, we’ve taken the liberty of providing you with a few different options which would allow you to get money as quickly as it’s possible.

1.    Personal loans

Apparently, getting a loan seems like a reasonable idea, especially if you have good credit score. There are two types of loans in the most generic differentiation – secured and unsecured. The former require you to put up some security – it could be your car, property, bank guarantee or something else, which will serve as collateral in case you can’t repay your loan.

The latter requires no such thing. This is the main reason for which secured loans get better interest rates and overall conditions in comparison to unsecured ones. This is one of the most common ways if you need emergency cash now.

2.    Credit card advance

This is another option that quite a lot of credit cards offer. You can get cash advances through a bank withdrawal, check or ATM which is going to work just like a short-term loan. However, there is likely to be an interest rate which is higher in comparison, and you will be charged a transaction fee.

The smaller the limit on your card is, the lower the limit on your cash advance will be as well so make sure to check this out in order to be aware. It could be a great option if you need emergency cash today.

3.    Retirement account loan

If you prefer to use your very own money to help yourself fund a certain emergency, you can take a loan off the money you invest in your IRA or your 401(k). The interest rates that you will be given are usually quite low, and it’s unlikely to impact your overall credit score. Keep in mind that this is not an option that you want to use if there are any chances of you losing your job soon.

4.    Line of credit

Now, a line of credit is something that you can use for your business expenses and emergencies. This is a pre-approved amount of money that you can loan at any given moment through the period of the contract with the bank. It’s very convenient, and a range of different corporations are using it to fund a lot of unexpected expenses.

With all this being said, if you need emergency cash today, there are obviously a lot of ways you can get them. Make sure to weigh the pros and cons of each one of those and make the right call.