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Cash advance glossary: key terms explained
Quick answer
This glossary defines the terms you'll see when comparing an earnin cash advance — from APR and principal to rollovers and soft inquiries — so you can read any offer with confidence.
Borrowing is easier to judge when the words are clear. Here are the terms that matter most for short-term cash advances, in plain English.
- APR (Annual Percentage Rate)
- The yearly cost of borrowing expressed as a percentage, including interest and certain fees. Because cash advances are short-term, a modest fee can translate to a high APR, so always compare the total dollars you'll repay.
- Principal
- The amount of money you actually borrow, before any interest or fees are added.
- Cash advance
- A small, short-term amount of money requested to cover an expense before your next paycheck, usually repaid on a short schedule.
- Rollover
- Extending or renewing a short-term loan instead of repaying it on time. Rollovers add new fees and can quickly make borrowing expensive — a key thing to avoid.
- Origination fee
- A one-time fee some lenders charge to process a loan, often taken from the amount you receive or added to your balance.
- Installment loan
- A loan repaid in scheduled payments (installments) over a set period, rather than in a single lump sum.
- Underwriting
- The process a lender uses to review your information and decide whether to approve your request and on what terms.
- Default
- Failing to repay a loan according to its terms. Default can lead to extra fees, collection activity, and credit damage.
- Soft inquiry
- A check of your credit that does not affect your credit score. Comparing options through Earnin Cash Advance does not impact your score.
- Hard inquiry
- A credit check that can temporarily lower your score, typically run by a lender when you formally apply for credit.
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