Press Release Summary = Power Cash Advance completed its semiannual review of consumer demographics this week and posted the findings on its website in response to mounting criticism of the cash advance products by media and political figures.
Press Release Body = Power Cash Advance completed its semiannual review of consumer demographics this week and posted the findings on its website in response to mounting criticism of the cash advance products by media and political figures. The study, which surveyed 1,047 of its users during the holiday season of 2005, found that 92% of its patrons have a high school diploma or better, and that 59% have completed some college or have received a college degree.
"With so much concern about the nature of cash advances, we feel that a review of our consumer base is prudent so that we may offer better services to our customers as well as refute claims that our product is anything other than a safe, sound method of short-term financing," explained Kimberly Requin of Power Cash Advance. "Our customers are educated, middle-income individuals and families that just need a helping hand every now and again. There's hardly anything wrong with giving American families the chance to avoid late fees and potentially disastrous marks on their credit reports."
This report addressed specific concerns of many of the industry's harshest critics, many of whom come from the banking industry or various levels of government. The chief argument states that cash advance consumers are unaware of the costs associated with a cash advance loan. A study posted on the Community Financial Services Association of America (CFSA) reported that 96% of those surveyed indicated they were aware of the finance charges; this figure was also referenced in the report issued by Power Cash Advance.
Visit Power Cash Advance (www.powercashadvance.com) for additional findings and the full demographic report.
Web Site = http://www.powercashadvance.com
Contact Details = 4010 N Scottsdale Rd Scottsdale, AZ 85251
2012
