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Payday loans provide millions of people with emergency cash to meet short-term needs. With the internet, you can apply and receive your funds in 24 hours, without ever leaving your home.
There are many payday loan companies available. However, their programs vary widely in loan amounts and fees charged. TopConsumerReviews.com finds and ranks the best payday loans available today.
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Payday loans provide a much-needed service to millions of people. There are many times when short-term debts outrun the ability to pay. In times like this, a payday loan (a loan against a future paycheck) can provide the cash necessary to meet those needs.
The advantages of payday loans are many. Often they don't require a credit check; so the loan, and your repayment, never show up on your credit history. The best payday loans offer amounts that can range from a few hundred dollars to $1,500 (and sometimes more). And you receive your loan very quickly; usually within 24 hours.
Drawbacks? Payday loans typically charge service fees that are greater than traditional loans. These service fees can range from $10 to $30 per $100 loaned, and sometimes even more. Many states have regulations stipulating the amount of service fees that can be charged. Obviously, the best payday loans are meant to address quick cash needs, and should not be used as a long-term solution.
Still, in order to meet short-term obligations, payday loans can provide a fast and easy solution. When evaluating different payday loans, there are certain factors you want to consider. Some of these include:
• Loan Amount. How much money do you need? A variety of loan amounts are offered by different lenders.
• Service Fees. Look for companies that state their fees up front or guarantee lowest fees.
• Convenience. Can your application be processed entirely online, or will you need to fax in documents? How quick will the money be deposited to you?
TopConsumerReviews.com has reviewed and ranked the best payday loans available today. We hope you find these reviews helpful in meeting your short-term financial needs!
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Loan:
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Up to $1,500
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Cost:
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They search their network of lenders to find you the lowest rate possible.
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Ameri Advance has a very easy payday loan application. You fill out the simple online form, and within seconds you can be approved and waiting for your cash to arrive.
The payday loan application process is not only quick but entirely online. Ameri Advance doesn't require you to fax or send any documentation in with your application. All the information they need is what you provide on their website.
Ameri Advance supports payday loans up to $1,500. We like that they perform no credit check against your personal history. Regardless of whether you've had recent problems meeting your bills, Ameri Advance will still provide you with the cash you need - no questions asked. This also eliminates any negative impact that can occur with checks of your credit history.
Once approved, Ameri Advance conveniently delivers your cash into your checking or savings account by direct deposit. This means that they will automatically send your money into your account, usually within just a few short hours of your approval!
Ameri Advance accepts payday loan applications 24 hours a day, 7 days a week. This is very convenient for people who apply for a payday loan outside of normal business hours. Keep in mind that in order to provide instant approvals, Ameri Advance communicates with lenders in their network when you apply for your payday loan - and some of these lenders may only be open from 8am - 5pm. To maximize
your chance for approval, we suggest that you apply during those hours. If you apply outside of these hours
and for
some reason your payday loan application is rejected, then just reapply again between 8am and 5pm, when more of their lenders are available. Since there are no credit checks, there's absolutely no cost to you in applying again.
Ameri Advance boasts an easy application process, with no faxing and no paperwork hassles. Electronic delivery of your money is within 24 hours and is not dependent on your credit history whatsoever. If you need a payday loan fast with low fees and no stress, Ameri Advance is an excellent value and they earn our highest rating.
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Loan:
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Up to $1,500
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Cost:
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Varies based on the length of the loan
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PayDay Max provides convenient temporary solutions to people that run into a financial bind. To request a payday loan of up to $1,500 you simply apply online using their customer friendly website and answer a series of questions. PayDay Max is available to assist customers with payday loans in over 40 different states.
Once your information is input into the system, PayDay Max validates your details for payday loan approval. No additional information needs to be faxed in the majority of cases, and PayDay Max does not place a credit or teletrack check. PayDay Max states that your loan will be approved within minutes. You simply wait for the finalization to determine if your payday loan request is accepted – no need to talk to
a representative
on the phone. Once the approval comes through you'll learn the details of the payday loan terms. The term may run between 7 and 31 days, with loan extensions available.
Approved payday loans are deposited directly into your bank account within 24 hours or via your nearest Money Gram location. Payday Max offers a break to new customers in their initial loan rate, which makes for a nice savings over many companies.
Overall, PayDay Max is a good option for your next payday loan. With a no hassle loan application process, no credit check, and a flexible payment period, PayDay Max will meet the needs of many individuals looking for short term cash assistance.
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Loan:
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Up to $1,500
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Cost:
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Varies based on your state and the length of the loan
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AmeriCash Advance has been in the lending business since 1999. Their website is easy to use and works with 25 different states to assist consumers with their short term borrowing needs. AmeriCash Advance lends up to $1,500 and requires no faxing during the payday loan application process.
The payday loan application process is simple and quick. AmeriCash Advance requires you to complete only one page of questions such as your name, social security number, employer information, and pay cycle. Your payday loan application will be approved or denied within 30 minutes via email. Repayment terms are between 14 and 31 days and AmeriCash Advance provides a clear cut chart on what you can anticipate paying for your loan
depending on your state, the amount, and the loan period.
The payday loan will be deposited into your account within 24 hours, or instantly loaded to your free AmeriCash ATM card, which provides nearly immediate funding in emergency situations. ATM card loans are limited to a maximum of $1,000 and do have associated fees based on the transaction type and inactivity after 90 days.
If you are in need of cash, AmeriCash Advance provides a no-hassle application process with flexibility on how fast you may require your loan. We liked the option of the ATM card that you may request for your next loan despite some of the associated transaction fees. The best improvement we'd like to see at AmeriCash Advance is access to work online with residents in more states. Otherwise, AmeriCash Advance is a solid payday
loan
company with an upfront website and customer friendly payment options.
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Loan:
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Up to $1,500
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Cost:
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Varies; they automatically match you with the lender providing the highest loans with the lowest fees.
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Plain Green Loans works hard to match you with the best lender in their extensive network of loan providers. This ensures you get their best loan rate with the highest loan amount possible.
The loan application offered by Plain Green Loans is among the easiest we've found. In less than 2 minutes you can enter all the information needed to apply for the loan. And since you don't need to fax any documents, the application process is over almost before it begins!
Problems with your credit history? Not here. Plain Green Loans performs no credit check, so they will not be influenced by any issues you've had in the past. Another positive aspect is that obtaining a loan from Plain Green Loans does not show up on your credit report. This means future credit checks will never show that you obtained a payday loan. This is another way in which Plain Green Loans
protects your privacy.
Once approved, your money is automatically deposited into your checking account, usually within 24 hours.
When it comes time to repay your loan, Plain Green Loans provides you with convenient, flexible options. For first time borrowers, your interest fees can be up to 40% less than the typical payday loan lender. And for returning customers, your fees could be up to 90% less than a typical payday loan. We found this feature to be unique to Plain Green Loans and is extremely helpful if you repeatedly find yourself in need of some
short-term financial assistance.
The Plain Green Loans website is very easy to navigate. From their main page, you have access to the following:
• A short description of how their loan process works;
• A description of the payday loan cost and terms
• The ability to login to your account
• An easy way to contact them
Plain Green Loans is a quality payday loan program. With their easy qualification, high loan amounts, and low fees, this is definitely a program worth checking out.
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Loan:
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Up to $1,500
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Cost:
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Varies; they automatically match you with the lender providing the highest loans with the lowest fees.
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100 Day Loans offers a compelling option in the payday loan area. Traditionally, borrowers are asked to pay off their payday loan when they receive their next paycheck - typically within 8 to 25 days. However, with 100 Day Loans, you can actually receive up to 100 days to pay off your loan. That works out to over 3 months.
The online application with 100 Day Loans is very easy. You simply fill out some personal information on their secured website, and within 90 seconds you receive your payday loan decision. During that time, 100 Day Loans searches over 120 lenders in their database to find the best payday loans that will provide you with the highest loan amount at the lowest interest rate available. That's an impressive
number of lenders
that are all
competing
against
each other to give you the best payday loan possible.
Once you're approved, you're directed to your matching lender's website, where you can accept their payday loan offer. Then you can expect to see your money in less than 24 hours. Many of their lenders can even deliver your cash directly to your bank account in less than one hour.
If you have bad credit, don't worry - traditional credit scores will not prevent you from receive a payday loan at 100 Day Loans. This is good news if you've been hit recently with some unfortunate events that have negatively affected your credit score.
Having extra time to repay your payday loan is a very convenient feature. However, keep in mind there may be additional interest or fees when taking advantage of this option. This can vary from lender to lender.
100 Day Loans utilizes a large database to find the lender that will offer you the best payday loans for the least amount of cost. Plus, the 100 day payback plan is a nice feature that can help many individuals who need some extra time, but may end up costing you more than you originally thought.
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Loan:
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Up to $1,000
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Cost:
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Varies by state
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Payday One has been a leading provider of payday loans on the internet since 2001. Their goal is to be the most consumer-friendly lender in the industry. And with what we found, they come very close to hitting that target.
Payday One offers a simple, straightforward payday loan application on their secure website. To apply, all you need is an email address, an active checking account, and a job or regular source of income. You also must be at least 18 years old and be a U.S. citizen.
Once you apply, you'll receive your payday loan decision within a few minutes. While you wait, Payday One automatically determines the loan amount that you qualify for, and service fees associated with your loan.
Once you decide to accept their offer, Payday One will electronically deposit the funds into your checking account the next business day (for applications completed by 5pm cst).
One feature that we especially liked was Payday One's Great Rate Guarantee. If you find a lower price from another similarly licensed online lender, Payday One will match that rate. This speaks to the confidence that Payday One has in their product and fees.
Managing your account with Payday One is a breeze. You can check your balance and make payments completely online with their easy to use interface. They send email reminders when a payment is due, and can even make your loan payment automatically for you.
Customer service at Payday One is top notch. Their representatives are knowledgeable, and they had the friendliest staff of the payday loan providers that we reviewed. This can be helpful if you need to extend your payday loan for any reason.
Payday One offers a good, quality payday loan program that treats their customers with respect. Their costs are among the lowest that you'll find. They currently serve only about half of the states in the U.S.; we wish they had a broader reach, and could offer higher loan amounts. Nevertheless, we were impressed with Payday One's program.
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Loan:
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Up to $1,500
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Cost:
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Do not state their cost. Claim to be among the lowest online.
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We Give Cash is one of the fastest online payday loan site we've found. They are proud of their ability to provide cash to their customers within one hour. Rightly so; such quick delivery is quite a feat in this business.
In their application process they offer no credit checks, no faxing of documents, and provide a very easy online application. Unfortunately they do not offer any information regarding their interest rates or their fees. This is probably because they work with over 20 lenders in order to match the best loan program with each borrower. Each of the
lenders may charge a different fee; however We Give Cash looks to match up their borrowers with the lowest-fee programs. All this is done conveniently for you behind the scenes, so you are simply presented with the best program available. We Give Cash will lend anywhere from $100 up to $1,500 depending on what the customer qualifies for. Requirements include an income of at least $1,000 per month, and a checking account with direct deposit access.
The website is very user friendly. Their application process has three sections to fill out; personal, employment, and financial. What makes this so easy is that many of the blanks are already filled in; the applicant simply goes through and selects the options that apply to him or her. This makes the process fast and efficient, leaving less time for
typos
or inaccurate information.
For loans up to $1,500, and for those people who need their money right away, We Give Cash is a good choice.
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Loan:
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Up to $500
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Cost:
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Varies by state. Average rate is $15-$20 per $100 loaned.
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Cash Central is an actual lender with a building and 400 plus employees, not just a brokering website. That may or may not be important in the end, but they do offer 24/7 customer service and when you call you get to speak to a real person, who will happily give you the interest rates for your state. The downfall of Cash Central is that they are only
set up to lend to residents in certain states, all in the western half of the US.
The information they request is pretty much the same as all the others; personal, employment and financial. After the loan has been approved, which takes just a few minutes, the customer's account usually funds the next business day. They have 24 hour live customer service if a borrower has questions.
Cash Central understands the importance of repeat business and fosters that customer relationship by being accessible via phone, email, and postage mail. This may not seem like a big deal, but most of these online businesses don't offer that level of service.
One additional incentive to Cash Central is their "refer a friend" program. Every time an existing customer refers a new customer to Cash Central, they receive $20.
Their application process is simple, with no faxing, no paper hassles, and no credit checks. As they say, they are "Easy, no driving, no bullet proof glass, no leaving the house."
Cash Central offers a good payday loan program with competitive rates. We just wish it had a higher limit and was offered in more states.
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Loan:
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Up to $500
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Cost:
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Varies based on length of loan.
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Great Plains Lending is a tribal lending company that provides payday loans up to $1,000. However, our research identified that most first time loans are limited to $200-$500. This might not meet your immediate cash needs.
Unlike other payday loan companies, Great Plains Lending asks that you pay back your loan over a 4 to 12 month period – making payments every 2 weeks. You do have the option to pay off the loan sooner but have several months to do so if needed.
Great Plains Lending works with customers across 49 different states. The application process occurs online but may require faxed documentation for first time borrowers. To gain approval you must be at least 18, be able to prove regular income, have an email address and have no negative bank activity in the last 30 days.
Great Plains looks to confirm that you've had no returned checks or overdraft charges. If Great Plains does not approve you for a loan you have the option to have them match you with other lenders. Great Plains Lending states that they have a 27% lower interest rate than the typical payday loan company, but we felt that was misleading as the longer your loan is outstanding, the greater your overall interest paid.
You can receive your payday loan from Great Plains Lending within 24 hours by direct deposit if approved by 6:00pm est, or by check via snail mail.
We were disappointed that Great Plains Lending provides smaller payday loans for first time lenders. We felt this would be unsatisfactory for many individuals needing a quick method of cover expenses until payday. We felt the low interest rate statement was also misleading as the longer you borrow your initial loan the more you pay in interest.
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Loan:
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Up to $1,500
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Cost:
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Vague. They only state that they are in compliance with state and federal laws.
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Personal Cash Advance, like most of it's competition, touts an easy approval process with no credit checks or application fees. In most cases the money can be deposited directly into the customer's account within 24 hours. However, they do not advertise "nothing to fax" like many other payday sites, and you may need to fax documentation. Their other pre-qualifications are pretty standard;
must be a US citizen at least 18 years
old, have an income of at least $1,000 per month, and have an active checking/savings account. As long as these criteria are met, and the loan application is complete, you should be able to get a payday loan/cash advance for up to $1,500.
Personal Cash advance provides a very comprehensive and informative site. For example, there is an entire section entitled "Resources". This section includes information on credit services, credit repair, debt consolidation, bankruptcy, credit cards, mortgages and insurance. Phone numbers and websites are provided for most of these services. Personal Cash Advance seems to
target a more international market, with references to services in the
US, Canada and the UK.
Personal Cash Advance also holds security in high regard. They explain at length the security and privacy measures they have taken to keep their customer's information confidential. In today's world of identify theft, this is reassuring to know. Customer Service is available through either a toll-free 1-800 number or by email.
The information provided on their website is very helpful and they offer a high limit on loan amounts. We wish they posted their service fees online in a more accessible manner.
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Payday Loans in the News
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