If you've ever applied for a loan from a bank you know it can be a very long process. A bank's top priority is making a smart investment. As for cash advance businesses, the rules are a little different. They can be a life saver but only if you use them properly. One of the biggest benefits of a cash advance type of loan is that your credit history means little. Bankruptcy, overdue bills and bounced checks are all problems that don't necessarily prevent you from getting an advance. The basic requirements are only that you're an 18-year-old US citizen who has a bank account and can show proof of a regular income. You don't have to worry about a drawn out process. This system of lending holds a lot of risk for the company. The risk for the lender is high, but for the customer the reward is high. There is little negative that could be said if you take a payday loan responsibly. One important tip to remember is to pay back the loan on time. This is a good practice for any loan, but it is even more important for cash advance loans. Penalties for late payments are often very harsh. For people who already have bad credit, this is a very big misstep. Instead be ready to repay the full amount of your loan on the due date. If you can afford it, ask the loan company if you can pay back your loan before the due date. Another tip is to be conservative with the amount of money you borrow. $1,500 is generally the maximum a company lends at one time. Consider carefully how much money you can afford to borrow and pay back. Many people are pleased by the idea that they can get money they don't have without paying an overdraft penalty. When you don't repay the loan, you've actually done more harm than good. You'll do damage to your credit and take on an unnecessary financial burden. This system is almost completely without worry. You should still remember to take the process seriously. There are still some drawbacks that can come back to bit you if you're not careful. A cash advance is only as beneficial as you make it.