Borrow $200 to $5,000 without overpaying
Eight ways to get cash fast, ranked by what they really cost. APR math, who qualifies, and the warning signs that mean walk away.
Eight ways to borrow, side by side
Sorted from usually cheapest to usually most expensive. Costs are typical ranges, not offers.
| Option | Typical amount | Typical cost | How fast | Credit check | Best for |
|---|---|---|---|---|---|
| Credit union PAL | $200 to $2,000 | Max 28% APR, plus up to $20 application fee | Often 1 to 2 business days | Varies by credit union | Credit union members who need a small loan |
| Personal loan | Often $1,000 and up | APR based on your credit, sometimes an origination feeFee may be taken out of the loan | 1 to 7 days | Usually yes | Larger, planned costs you'll repay over months |
| Buy now, pay later | The price of a purchase | Pay-in-4 plans often charge no interest; late fees may apply | At checkout | Sometimes a soft check | Splitting a necessary purchase, not getting cash |
| Cash advance app | Usually small amounts | Memberships, instant-transfer fees and tips | Minutes with a fee, or 1 to 3 days | Usually no hard check | Bridging a few days until payday |
| Credit card cash advance | Up to your cash advance limit | A fee per advance, plus a higher APR with no grace period | Instant at an ATM | No new check | True emergencies when cheaper options fail |
| Pawn loan | A share of your item's value | Monthly fees set by state law | Same day | No | People with an item they can afford to lose |
| Payday loan | Usually $500 or less | $10 to $30 per $100 borrowed; $15 on a 2-week loan is almost 400% APR | Same day | Usually no traditional check | A last resort, and only if you can repay in full |
| Car title loan | Often 25% to 50% of your car's value | A typical 25% monthly fee is about 300% APR | Same day | No | Avoid if you can; you can lose your car |
Sources: NCUA, CFPB. Ranges are general and vary by lender and state.
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Credit union PAL loans
Payday Alternative Loans are small loans from federal credit unions, built by regulators as a cheaper alternative to payday lending.
For members of at least one month
- Loan amount$200 to $1,000
- Repayment term1 to 6 months
- Membership requiredAt least 1 month
- Maximum APR28%
- Application feeUp to $20
Bigger loans, no waiting period
- Loan amountUp to $2,000
- Repayment term1 to 12 months
- Membership requiredNo minimum wait
- Maximum APR28%
- Application feeUp to $20
Rules that protect you
- Loans are paid off in installments, not one lump sum.
- No rollovers. A credit union can't extend a PAL by charging a new fee.
- You can have only one PAL at a time, and no more than three in a rolling six-month period.
- Not every federal credit union offers PALs, so ask before you join.
How to get one
- Find a federal credit union near you with the NCUA credit union locator. Many let you join based on where you live, work or worship.
- Ask whether it offers PAL I or PAL II loans and what it checks for approval.
- Open a membership account, often with a small deposit.
- Apply, then compare the APR and total repayment in your disclosure.
Join now, borrow later. PAL I needs one month of membership. Joining a credit union before an emergency keeps the cheapest option open when you need it.
Cash advance apps: the real cost
Apps that advance part of your paycheck often advertise "no interest," but fees and tips still cost money. Turn every fee into an APR before comparing.
Monthly membership
A subscription you pay whether or not you take an advance. On a small advance, even a few dollars a month can mean a high APR.
Instant-transfer fee
Standard delivery can take 1 to 3 days. Paying to get money in minutes is often the biggest cost.
"Optional" tips
Tips are voluntary, but some apps nudge you toward them. A tip is part of what you pay to borrow.
$100 advance, $5 instant fee, repaid in 14 days
130% APR
$5 ÷ $100 × 365 ÷ 14 days = 1.30, or 130%
$50 advance, $3 tip, repaid in 7 days
313% APR
$3 ÷ $50 × 365 ÷ 7 days = 3.13, or 313%
Try your own numbers with the fee-to-APR calculator. If an app would also pull money from an account that can't cover it, ask your bank about overdraft or returned-payment fees too.
Personal loans
An installment loan with a fixed payment, from a bank, credit union or online lender. Usually cheaper than short-term options if your credit is fair or better.
Watch the origination fee
Some lenders take a fee out of the loan before you get the money. Borrow $2,000 with a 5% origination fee and you receive $1,900, but repay the full $2,000 plus interest. The APR in your disclosure includes this fee, so compare APRs, not interest rates.
Prequalify without a hard inquiry
Many lenders let you check estimated rates with a soft credit check that doesn't affect your score. A hard inquiry usually happens only when you formally apply.
Credit unions often cost less
Federal credit unions must stay under an interest rate ceiling set by the NCUA on most loans, which can make them cheaper than many online lenders for borrowers with average credit.
Payment on a $3,000 loan
Same amount and 24-month term, different APRs.
Estimates assume no fees. Use the loan calculator for your numbers.
Payday and title loans: why they get expensive
The fee looks small until you can't repay on time. Then each renewal adds a new fee while the amount you owe stays the same.
A $400 payday loan that keeps rolling over
$15 fee per $100 every two weeks, amount borrowed never paid down
Know these before you borrow
- Payday loans are usually due in one payment on your next payday, often in two to four weeks.
- Title loans use your car as collateral. The CFPB found that about one in five single-payment title loan borrowers had their vehicle seized.
- State law matters. Some states ban payday loans or cap their rates, and rules on rollovers differ.
- Servicemembers are protected. The Military Lending Act caps most consumer credit to active-duty members and their dependents at 36% MAPR.
- Automatic withdrawals can trigger bank fees if your account is short when the lender tries to collect.
Already stuck in a payday loan? Ask the lender whether your state requires an extended payment plan. Some states make lenders offer one at no extra cost. A nonprofit credit counselor can also help; see our debt guide.
Seven checks before you sign
Federal Truth in Lending rules require lenders to show you the APR and finance charge before you commit. Use them.
- Compare the APR, not the feeAPR puts loans of different lengths on the same scale.
- Find the total you'll repayThe finance charge plus the amount financed tells you the real price in dollars.
- Check the payment fits your budgetIf the payment would leave you short, you may need to borrow again.
- Ask about prepayment penaltiesYou should be able to pay early and save interest.
- Read the late fee and returned-payment termsKnow what happens if a payment bounces.
- Confirm the lender is licensed in your stateYour state's financial regulator usually has a lookup tool.
- Never pay for a promised loanSome real lenders charge an application fee, but none guarantee approval in exchange for paying first.
Red flags of a loan scam
Scammers target people who need money fast. Walk away if you see any of these.
- A fee that "guarantees" your loanThe FTC says it's illegal for companies doing business by phone to promise you a loan and ask you to pay before they deliver it.
- "Guaranteed approval, no matter your credit"Real lenders check whether you can repay.
- Payment by gift card, wire or cryptoThese are hard to trace and nearly impossible to get back.
- Pressure to act right nowA real offer will still be there tomorrow.
- No physical address or state licenseCheck your state regulator's license lookup before you apply.
- A website without https or with a look-alike nameType the lender's address yourself instead of clicking links.
If you think you've been targeted, report it at ReportFraud.ftc.gov and to your state attorney general.
More borrowing guides
Borrowing questions
Can't find yours? Ask our team.
What is the fastest way to borrow $500?
A cash advance app or credit card cash advance can deliver money within minutes, but usually costs more. If you can wait a day or two, a credit union Payday Alternative Loan is often far cheaper, with APR capped at 28%.
Can I borrow money with bad credit?
Yes. Credit union PAL loans, some online lenders and cash advance apps look at income and bank history, not just your score. Avoid lenders that promise guaranteed approval or ask for an upfront fee.
What APR is considered affordable?
Many consumer advocates treat 36% APR as the upper limit for affordable credit. The Military Lending Act uses the same 36% cap for active-duty servicemembers.
Is a cash advance app a loan?
Apps structure advances differently, and some say they are not loans. Either way, fees, memberships and tips are the cost of getting money early, so convert them to an APR to compare.
Do payday loans affect my credit score?
Most payday lenders don't report on-time payments to the major credit bureaus, but an unpaid loan sent to collections can be reported and hurt your score.
How much can I request through HeyCash?
You can request $200 to $5,000. Lenders in our network set the final amount, rate and terms based on your state and credit.
Ready to compare real offers?
Request $200 to $5,000 in about two minutes. It's free to submit, and you decide whether to accept any offer.
Sources
- NCUA: Payday Alternative Loans final rule
- CFPB: What are the costs and fees for a payday loan?
- CFPB: One in five auto title loan borrowers have their vehicle seized
- Department of Defense: Military Lending Act
- FTC: What is an advance-fee loan scam?
- NCUA: Credit union locator
- CFPB: Truth in Lending Act (Regulation Z)
This page is general education, not financial, legal or tax advice. Rules and rates change; check the source or a qualified professional before making decisions.
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