As the technological revolution marches ever on at an increasing pace, there are apps that work for just about anything, including finding Instant Cash Loan Apps online. While this is certainly great in terms of the most convenient way to find payday loans, it may not always be the best way. In order to determine whether or not these cash loan apps are your best choice, it is important first to think about what kind of pay day loans online or off, are best suited to your financial situation.
What Are the Best Cash Loan Apps?
This is not a cash loan app review site, so we are not going to get in to any major discussions about the best cash loan apps and what they do or do not do for you when you need to find instant cash online. Instead, we will take into consideration the underlying purpose of all online apps, and what they are ultimately designed to do – which is to make money for the cash loan app owners or app developers.
If you are looking for a free cash loan app, you are setting yourself up to be the product. That is to say, that your personal information is going to be the product that the instant loan app developers or owners are going to use to make money. There is an old adage that states “There is no such thing as a free lunch” and it holds just as true in the age of digital technology as it did in the days of analog tech and physical labor.
If you are okay with the idea of virtually all of your data, including everything that someone may need to steal your identity, being passed out to the highest bidder, instant cash loan apps may be a great choice. Even without that consideration though, there are some good and bad things you need to know about online loan cash apps.
What Are the Good Things About Payday Loan Apps?
One of the best things about payday loan apps is convenience. Though in this consideration, why would the app be any more convenient than a same day online loan website? The truth is that technology is just as convenient in one form as it is in another. Fill out the forms, check your inbox, and select the loans you want in the case of this website.
What Are the Bad Things About Instant Cash Loan Apps?
The big difference between online cash loan apps and websites where you can find same day cash loans online, is that the technology is already in place to allow for the construction of websites without having to worry about all of your personal and financial information being sold to the highest bidder. This is especially true when talking about the free online cash loan apps.
App development is often submitted to the lowest bidder, regardless of where they may be located, and usually without doing any serious background checks. According to the FTC and other government agencies, identity theft and cybercrime is roughly a fifty billion dollar per year industry.
If you were a poor developer trying to survive on whatever the lowest possible bid was, and you lacked ethics, would you not want to become part of that industry? Sure, the app would eventually get pulled, but at what cost to you? Add in the fact that many programmers routinely leave back doors open in case there is a need to do repairs later on, these apps can become even more unsecured.
Even if absolutely nothing bad exists within the payday loan apps online, or with the developers, the programming, and even if they are not selling your personal, private data to the highest bidder, most apps are only going to hook you up with the same day lenders who pay the app owners the most money, regardless of whether or not you get the best interest rates for payday loans.
Is There a Better Alternative for Instant Cash Loans Than Loan Apps?
Same day online loan websites still may have some vulnerabilities, but certainly much less so than their app counterparts. Furthermore, websites like SDOL offer you the opportunity to fill out a single application and have your information entered into a secured database and program that matches your same day loan needs with relevant lenders, sending you information allowing you to directly handle your own information.