Running out of money before payday is a nightmare. If this happens to you, you are not alone. More than 10 million Americans per year take out pay advance loans.
It is important to understand the terms that come with any bad credit loan. When it comes to payday loans online, this knowledge becomes paramount. The interest rates on these loans are high, and it is easy to go deep into debt rather than using them as the short-term solutions they can be.
Not all cash advance loans are created equal. We will separate the wheat from the chaff for you in this guide to the best pay advance loans you can find on the web. Read on to discover eight solutions to your short-term money problems.
8 of the Best Pay Advance Loans Available on the Internet
There are many factors that make for a good pay advance online loan.
You want to borrow from a reputable institution. You want clarity in the contract you sign. Most importantly, you want terms that make it as easy as possible to repay the loan quickly.
We have considered all of these factors when assembling this list. See for yourself the loans we have chosen as the most consumer-friendly.
1. Trusted Payday
Most pay advance loan options are going to have low limits, in the range of $100 to $1,000. Trusted Payday falls right into line with this expectation with a borrowing limit of $1,000 for first-time customers. We consider this a good thing, since it keeps you from getting into trouble by borrowing more than you really need your first time out.
You need a payday loan to process quickly, and it takes just 30 minutes to get an instant approval loan from Trusted Payday approved. The application takes just a few minutes to complete.
The company accepts applications 24/7 and offers plenty of customer support to explain the lending process. Trusted Payday works with more than 70 reputable institutions to provide their services.
It is these myriad factors that make Trusted Payday one of the highest quality options for pay advance loans.
The promise of LendUp is simple.
Are you over 18? Do you have a checking account that can accept electronic transfers? Then LendUp can provide you with a cash advance loan of up to $200.
You need this kind of simplicity when you are searching for a payday loan, and LendUp obliges.
3. ACE Cash Express
ACE is a large payday loan no credit check company, which means you get the benefits of a big network. These benefits include a large support staff and many different locations.
Here is the downside of borrowing from ACE. The company only has online lending options available in eight states. Since this list is about online pay advance loans, this is a mark on ACE’s record.
Still, when it comes to reliability, ACE Cash Express is a premium option if you live in one of the states where their online loans are available. These states include California, Idaho, Kansas, Ohio, Minnesota, Texas, Florida, and Louisiana.
One of the biggest benefits of borrowing from LendYou is the company’s large limits on borrowing. Loans from LendYou are available in amounts up to $15,000 putting them in the same range as traditional personal loans. You should obviously make sure you need the amount you are borrowing before signing a LendYou contract, but if you do need that amount of cash, LendYou is a great resource.
It is fitting that one of the requirements for borrowing from LendYou is regular income. Not all payday loan companies require this, but when you are borrowing such a large amount that you will be repaying as an installment loan, it makes sense that would have to prove you can repay it.
5. Honest Loans
Honest Loans lives up to its name as a company by publishing its interest rates online. Those rates are not pretty. They range from 200% to 2,290% APR, depending on the lender with whom you match.
You read those figures correctly. 200% is on the low end of interest rates at Honest Loans.
The thing is, these are not unusual interest rates for a paycheck advance. The nice thing about Honest Loans is that the company lets you know this up front.
6. Cash Corner
Cash Corner is a good option if you are looking for a modest payday loan in a standard amount, between $100 and $1,000. The company partners with reputable institutions and approves loans to people with substandard credit.
A loan from Cash Corner comes with caveats, though. There is fine print you should read, especially regarding no credit check payday loans and the turnaround time on payments. Cash Corner does not check credit, but some of the institutions the company partners with might.
7. Cash Central
Cash Central offers some peace of mind to borrowers because of its existence as a brick-and-mortar office. It is not just a phantom internet presence that could disappear without warning. Cash Central employs more than 400 people, many of whom are happy to support you in the process of getting your loan approved.
There is a downside to Cash Central. Like ACE, Cash Central’s online pay advance loans are only available in certain states. If you live in the western half of the United States, you may reside in one of these states, and you should explore Cash Central as a payday loan option.
8. Cash Advance
Just because Cash Advance is last on our list does not mean they are anything to scoff at. In fact, the company is one of the best personal loan no credit check lenders we have found. That is because Cash Advance works with a network of more than 400 lenders to get your loan approved by an institution that is a good fit for your financial needs.
Cash Advance has been in business for over 15 years, which makes the company an elder statesman in the field. It has a website that guides borrowers through the payday loan process, and the turnaround time on most payments is just one day.
Learn in Advance to Get a Pay Advance
When applying for a pay advance loan, be wary of institutions that rush you or are unclear in their terms. This list should get you started in your search for lenders that are trustworthy. You may not find a perfect paycheck advance lender, but you can find one that values what you do, whether that is transparency or speed.
This is hardly the last word on payday loans. There is so much more to learn. Check out our payday loan section for even more.