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Repay Over Time, • Fast Cash. Quite surprisingly, when compared to some traditional loans, bad credit loans tend to be approved almost instantly, allowing you to have the funds in your bank account overnight. Our safe and secure online application protects your information and your privacy. They do note, however that “A $500 loan from Magnum Cash Advance set-up for 4 bi-weekly installment payments will have an approximate APR of 604.06%.” That’s one of the higher APRs you’ll see for this sort of loan, and nearly double the 391% average usually seen in the payday loan industry. It should serve as a flashing, red light: stay away.
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