Few are immune to the financial pressures currently being seen in the world - record-setting inflation, volatile interest rates and difficulty securing a mortgage, to name a few.
And that’s before you take into account the ever-increasing cost of living in Metro Vancouver.
Vancouverites are using last-resort tactics, such as obtaining cash from their credit cards, to cope. While popping your credit card into an ATM might sound strange, getting cash from your credit card (called a cash advance) could get you into a financial pickle if you can't pay it off right away.
Help, however, is available in the form of a personal loan.
Personal loans come with a fixed payment term and a competitive interest rate, making repayment easier to manage and predict. What's more, paying off a personal loan can actually contribute to building your credit score.
If you think a personal loan might be exactly what you need, offers Canadians quick access to financing through a convenient, mobile-based process.
With fair-priced products and a rapid approval system, Spring Financial allows you to bypass long wait times, avoid bank branch queues and steer clear of the high interest rates associated with payday loans.
Waiting is a thing of the past
Spring Financial offers a cutting-edge approval process that enables customers to conveniently apply fully online and receive approval within minutes.
This uber-convenient process eliminates the inconvenience of long lines, extended approval times and the ambiguity surrounding loan generation. If a customer is ineligible, Spring Financial representatives provide valuable guidance on the steps they can take to enhance future qualification.
And there are no smoke and mirrors in the Spring Financial model. This is a company with a goal to help B.C. residents gain a comprehensive understanding of the implications associated with requesting a cash advance on a credit card – and to inform consumers about the existence of superior alternatives, such as the offerings provided by Spring Financial, which come with more favourable interest rates.
This is a far simpler process than applying for a bank loan, with better interest rates than what you'd get from a credit card cash advance or a payday loan.
It is common to see individuals opt for cash advances on their credit cards, even with the high interest rates imposed by banks, instead of considering alternative options like Spring Financial.
The benefits of being a Spring Financial customer
Spring Financial customers can benefit from competitively priced products with competitive interest rates. If your credit happens to be less than perfect and you do not qualify currently, Spring Financial will provide you with opportunities to enhance your credit and secure loan approval in the future.
The fact is, far too many Canadians seek cash advances on their credit cards that often come with significantly higher interest rates, no grace period and compounding interest.
Now compare those pitfalls with a prime interest rate of 9.99 per cent offered by Spring Financial.
That’s yet another competitive advantage from Spring Financial and it’s offered to those with prime credit scores and contingent upon the loan amount.
Spring Financial’s personal loans offer superior alternatives: structured repayment terms, a competitive Annual Percentage Rate (APR), and, similar to credit card advances, the freedom to settle the loan earlier than planned without incurring any additional charges.
Ultimately, whatever situation you may find yourself in – personal, financial, or otherwise – customers are always encouraged to carefully assess the interest rate they are being offered before proceeding with any loan or cash advance application.
Learn more about the Spring Financial advantage at .
