Our reviewers evaluate products and services based on unbiased research. Top Consumer Reviews may earn money when you click on a link. Learn more about our process.

The Best Payday Loan Providers

Who Can You Trust When Looking for the Best Payday Loans?

That's a great question, because "payday loans" and "trustworthy" don't tend to be said in the same breath! That's pretty valid: they often come with extremely high interest rates and should be the last resort you consider if you're strapped for cash.

You'll usually pay much, much more in interest than you borrowed to begin with. But, with more than 2.5 million Americans each year who take out payday loans, it's important to know how to find a lender that's reputable.

Friday, March 24th

2023 Payday Loan Provider Reviews

Check Into Cash Review Top Consumer Reviews Best-In-Class Blue Ribbon Award 5 Star Rating

Check Into Cash

5 Star Rating Top Consumer Reviews Best-In-Class Blue Ribbon Award

Check Into Cash should be the first resource you turn to if you need money fast. The company offers a range of loan products, including payday and installment loans, and with more than 650 brick-and-mortar locations you even have the option of applying online and picking up your funds in person. The BBB gives Check Into Cash a perfect "A+" rating and accreditation over almost 30 years in operation. This service is the clear winner among providers of payday loans.

Blue Trust Loans Review 4 Star Rating

Blue Trust Loans

4 Star Rating

Blue Trust Loans doesn't make you pay back your entire payday loan in a lump sum on the date of your next paycheck. Instead, they break it down into weekly, biweekly or monthly repayments - but with sky-high interest rates from 472% to 842%! The service is operated by a Native American tribe and your loan is governed by tribal law, not federal, so keep that in mind. The BBB gives Blue Trust Loans a respectable "A" rating, and they're an option to consider if you prefer to pay back over time.

Jora Credit Review 3.5 Star Rating

Jora Credit

3.5 Star Rating

Jora Credit is one of the most transparent options out there for quick cash loans. You can easily see exactly what you can borrow and how much you'll pay in interest on their website, before you even apply for a loan. Repayments are scheduled over time but can be paid in full whenever you choose. The BBB gives Jora Credit a fantastic "A" rating, but because this lender has so many states where they don't offer loans, they can't compete with higher-ranked providers that are available to more people.

Honest Loans Review 3 Star Rating

Honest Loans

3 Star Rating

Honest Loans is a referral website that takes your loan application and tries to match you with a network lending partner to get you the money you need. Because this company doesn't fund your loan directly, there are very little specifics about how much you can borrow or how much you'll pay in interest. There's also not much feedback about Honest Loans out there: no rating from the BBB and no customer comments. It may not be a bad place to connect with a payday loan company, but you have much more direct options available.

Zoca Loans Review 2.5 Star Rating

Zoca Loans

2.5 Star Rating

Zoca Loans is owned by Redbud Lending and offers quick cash that is repaid in installments instead of all at once. They don't come out and tell you how much you'll pay in interest on your payday loan of up to $1500, but their sample rate quote shows an APR of 795%! Combine that with a disappointing "B" rating from the BBB and numerous customer complaints, and it's easy to see why Zoca Loans gets a low ranking here.

Compare the Best Reviews

Continued from above...

How do payday loans work? They're meant to be short-term loans to hold you over until your next paycheck. You'll either have to repay the loan and all of the interest right at the time of your upcoming, scheduled payday, or you may be able to set up your loan with weekly, biweekly or monthly repayments. If you happen to get paid earlier than you expected or come into extra money, most payday loans can be repaid in advance, which will save you some money in interest fees.

These types of loans are popular for several reasons. First off, you rarely have to have good credit; many payday loan companies only ask for ID, a bank account number, and proof of a steady paycheck. Payday loans are also easy to get: some states have more in-person loan "stores" than McDonald's locations!

What are the downsides of a payday loan? Besides the obvious one, the extremely high interest rates, many borrowers find these loans hard to pay back. Up to 20% of payday loans go into default, and as much as 80% of loans are followed over or reborrowed within 30 days. As you might imagine, that racks up huge fees - translating into big bucks for the payday lender and even less in your pocket.

Now that you know the drawbacks of payday loans, how can you increase your chances of getting the money you need from a lender you can count on not to plunge you into deeper trouble? Look for these things when you're choosing a service for a payday loan:

  • Open disclosure of rates and fees. If a payday lender hides their rates and fees, they may not be trustworthy. Everyone expects high interest rates, so there's no reason for a company not to put them right on their site.
  • Good reputation. When you're dealing with payday loans, you need more than interest rate details to make your decision. Check out what borrowers say about the lender: is everything upfront? Did they feel taken advantage of in any way? See if the Better Business Bureau has given the service a good rating.
  • Repayment options. The more choices you have, like biweekly or monthly repayments, the more likely it is that you will be able to pay back your payday loan without rolling it over or defaulting.

TopConsumerReviews.com has evaluated and ranked the most popular sources of payday loans available today. We hope this information will help you choose a lender that will get you the cash you need with terms you can afford.

The Best Payday Loan Providers Compare Payday Loan Providers Compare Payday Loan Provider Reviews What are the best Payday Loan Providers Best Payday Loan Provider Reviews

Payday Loan Provider FAQ

A payday loan provides you with a cash, where you are essentially borrowing from a future paycheck. If you just need a little bit of money to hold you over until your next deposit, a payday loan could help.
That depends on the lender you select and the laws in your state. Most payday loan services offer smaller loans to first-time customers and increase the amount available to repeat clients. You can expect to qualify for a loan amount between $100 and $1,000 - and possibly up to $2,500.
No, and that's part of the appeal of a payday loan. You have to provide proof of income, and that doesn't depend on your credit score. In fact, many payday loan providers don't even run a credit check, so you can still qualify for a loan even if you have a bad credit rating.
You'll usually have a service fee that's a percentage of the loan amount, in addition to any interest you're charged. Be aware that interest rates on payday loans are extremely high: you may see APRs of over 2,000%! In other words, payday loan services should probably be considered as a last resort for any cash flow issues.
Many payday loan providers can deposit your funds as quickly as the next business day, once you've been approved. The quicker you fill out the application and provide any requested documentation, the sooner your funds will be transferred.
Because your loan is borrowing against your next paycheck, you'll typically have until that pay date to repay what you borrow. For example, if you're paid twice a month, you'll probably have a loan term of 15-17 days, or up to 31 days if you get paid once a month.
Frankly, yes. These are some of the highest-interest loans on the market, and you could incur stiff penalty fees and other charges if you don't pay them back on time. Laws vary by state; if you're lucky, you could have a grace period if you can't pay your loan off by the due date and you request an extension beforehand.
Yes. There are many lenders that have been in business for decades and that have a positive reputation for providing funds to clients in desperate situations. However, because of the higher-risk nature of payday loans, you should take the time to read all of the fine print and verify that the lender you're considering is trustworthy before you commit.

Compare Payday Loan Providers

Select any 2 Payday Loan Providers to compare them head to head

See the Best Payday Loan Provider
The Best Reviews of Payday Loan Providers