Frequently Asked Questions

  1. At Magnum you can pay the loan off ay anytime and you only pay for the number of days you have the money, (Other companies trick you by giving a low ‘teaser rate’ for your first loan, and then the regular flat rate. They do not tell you that these flat rate loans force you to pay the same fees if you borrow for 2 days or 14 days, which is unfair)
  2. The majority of payday loan borrowers need a cash advance for 45-60 days, not for 2 weeks. To avoid the early payoff penalties associated with flat rate loans, Magnum loans are scheduled smaller payments for 60 days automatically. With Magnum you can pay off early and only pay for the days you had the money.

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