What is a Cash Advance?

The term "payday loans" is also often referred to be the same as cash advances, but are not a typical cash advance by definition. The terms of cash advances are to provide immediate cash against a pre-arranged revolving line, not unlike a open line, of credit such as a credit card. A payday loan is not a revolving line of credit. It is a one time/period extension of consumer credit, that has the ability to be rolled over into a new loan or in other words a sequential loan. Terms, regulations, and conditions differ from state to state.