Perhaps you have heard of the advantages of payday loans; perhaps more than once. Have you seen advertisements about how they can make your life simpler?

The fact is that payday loans offer more advantages than other loans that are available. The first and foremost advantage is that getting a payday loan is very fast. You just need to fill in an application, provide some basic personal information and getting approved is usually easy and fast as well.

All online payday loans have minimal requirements applicants must meet in order to complete the application. These requirements usually follow these guidelines:

- Have a current job for at least 3 consecutive months - Have a valid bank account - Be at least 18 years of age

Your credit history does not usually affect the decision of the lender in any way. So even if you have bad credit history, you need not worry.

The catch, you ask? Well, payday loans are only beneficial for you if you plan well and pay back the loan on time. If you are unable to do that, then paying it back as soon as you can is a good idea.

Most lenders offer some kind of extension or roll-over clause. In the long run, it is much easier to pay back a loan on time to avoid getting caught in a downward spiral of recurring debt. So while these loans offer many advantages, remember that if you truly want to enjoy your payday loan, then you must make a point of paying the loan back in time.

There really is no right or wrong reason to take a payday loan. There are various reasons actually. You could have an unexpected bill, an unplanned expense, a medical emergency or the urge to buy a gift for someone special.

All of these options require money in a fast time frame that you can pay back in a few short weeks when you do have the money. No need to wait!

Another advantage of payday loans is that they can actually help you maintain a clean credit history. For instance, if you know that you are not able to pay a bill before it is due, and you know that you will have the money down the road, taking a payday loan to pay that urgent bill can keep your history looking good.

Applying for online payday loans offers several advantages over applying at a traditional payday loan storefront. Payday loan applicants apply directly from their home or office computers via the Internet, never having to stand in line and wait in a crowded store.

Many people choose to apply for online payday loans for personal reasons, because they simply do not feel comfortable going to a store specializing in payday loans and check cashing.

The online payday loans application process can also be a significant time saver. In-store applications must be handwritten, and completed entirely in the store.

If an applicant does not have all the required information and paperwork they are unable to complete the application and the loan cannot be processed. Online payday loans applicants may pause while filling out the application form and take time to locate the required information.

All online payday loans sites require the consumer to fill out an application detailing personal information, occupational information, current banking and financial information and references.

Some more advice would be to check your state's laws regarding payday loans and the minimum and maximum amounts to borrow, and the interest rates that can be applied. If you arm yourself with this knowledge, you will not be taken advantage of from your local nickel and dime scam artist.