Question

Which of these is a correct statement regarding payday loans?

A.) Theyŕe easier to get than both car loans and credit cards.
B.) Theyŕe easier to get than credit cards but harder to get than car loans.
C.) Theyŕe easier to get than car loans but harder to get than credit cards.
D.) Theyre harder to get than both car loans and credit cards.

Answer 1

A-They're easier to get than both car loans and credit cards.

Answer 2

A.) They are easier to get than both car loans and credit cards.

Explanation:

Payday loans are also called cash advance loans or check advance loans.

These loans are comparatively very easy loans for a person to get. These are short term loans that come with high interest rates. The rates are based on the borrower's income and credit profile.

In this loan the principal amount is typically a small portion of the borrower's next paycheck.