When you are short before payday, there are several ways to get cash early. They differ a lot in cost and risk. Here is how the common options compare, from usually lower cost to usually higher cost.
At a glance
| Option | How it works | Costs to check | Risk level |
|---|---|---|---|
| Employer paycheck advance or earned wage access | Access pay you have already earned, through your employer or its provider | Per-transfer or subscription fees | Lower |
| Credit union small-dollar loan | Small loan from a credit union you belong to, repaid over months | APR and application fee | Lower |
| Cash advance apps | App advances a small amount and takes it back on payday | Membership fees, instant-transfer fees, optional tips | Medium |
| Credit card cash advance | Withdraw cash against your card's credit line | Cash advance fee and higher APR; interest usually starts right away | Medium to high |
| Payday loan | Short-term loan due on your next payday | Fees that can equal a very high APR; rollovers add more | High |
| Car title loan | Loan secured by your car's title | Very high costs; you can lose the car | Very high |
Work out the real cost
- Add up every fee (subscription, express transfer, tip, origination) and compare it to the amount you receive.
- Fees on a small, short advance can work out to a high APR, even when they look small.
- Check exactly when and how repayment is taken, so it doesn't cause an overdraft.
Try these first
- Ask the biller for a payment plan or a new due date.
- Ask your employer whether it offers a paycheck advance.
- Check with a credit union about small-dollar loans for members.
- Contact 211 or local community organizations about emergency help with rent, utilities or food.
Red flags
- Pressure to roll over or renew a loan you can't repay.
- Requests for upfront fees before you receive money.
- Lenders that won't show the total cost in writing.
- Requests for your online banking password.
Keep learning
- Need Money Now? 12 Legitimate Ways to Raise Cash
- Free Emergency Fund Roadmap
- Emergency Fund Builder Workbook
- All Learn & Compare guides
Educational information only, not financial, credit, legal or insurance advice. SmartMoney Financial does not list, rank or recommend specific card issuers, lenders or insurers on this page. Terms, rates and fees change; always read the provider's current terms and disclosures before you apply.