It’s a fact: take your old jacket out of the closet and find out that the random ten-dollar bill in your pocket is the best part of the fall. Well, it may not be the best, but it’s up there.

This is what happens with money: it is fun, unnecessary, and ideal for small amounts. Having a little money with you can do you good, but carrying a hefty amount can be boring at best and dangerous at worst. This is why most of us no longer have a lot of money with us. In fact, two in ten Americans carry less than $30 in cash per day. We opted for other safer, simpler, and more responsible payment methods.

According to a recent Federal Reserve Payments Study, 67% of consumer payments were made with debit or credit cards in 2012, up from 43% in 2003. And with the rapid growth of mobile payments, such as Google Wallet and Apple Pay, are also moving away from many checkout companies. A recent report by Javelin Strategy and Research found that 66% of personal sales are cashless, and the trend continues. In fact, some airlines, hotels, restaurants, shops, and retailers now have “cashless” policies and only accept electronic payments.

The basic fact is that we no longer need cash as before. Why are many low-income lenders doing good business with cash loans?

Crazy gold

Take a look at the advertisements of your payer or your securities provider in your neighborhood and you will probably find the word “cash” in the foreground. But with an increasingly cashless society day by day, the promise of a cash loan becomes less and less attractive. Nor is it that these loans have their drawbacks. You can leave the lender with a few hundred “new” dollars in your wallet, but how much does it cost when it’s time to repay the money?

Now that the money is not what it used to be, here are some of the Quick Cash Loan providers you want to avoid:

Payday Loans: Payday loans are small, unsecured dollar loans available in-store or online. They generally have short lead times (only 14 days) and annual astronomical percentages (APR). Sure, you can get by with money, but many borrowers are in debt for almost 200 days a year!

Title lending: Selling your car is one thing, but using it to get a title loan is another. Securities loans are cash loans guaranteed with your car (or motorcycle or boat) title. If you cannot repay the loan, the dealer can repay your guarantee (your car!). With these high-interest rates and additional fees, you may also lose your trip.

Pawnbroker: Do you know the family property entrusted to you? If you want to keep it, this avoids pawnbrokers. Pawnbroking loans require the delivery of valuable personal property in order to receive a small cash loan. You can leave the store with cash, but your property remains. If you don’t pay, your valuables will be sold to someone else.

Prepayment: There are several types of prepayment, none of which is good. To obtain an advance, you can withdraw credit from your credit card (at a higher rate than normal), obtain an advance from your employer (an uncomfortable conversation that you will not appreciate) or search for any amount in advance funds for the consumer Avoid storefront lenders Avoid complaints, avoid pain and completely avoid cash advances.