How can you find the “best” payday loan? You’ll know by the end of this page.
There are a few times in life where you might need money in a hurry. Your car may have run into trouble a few days before payday, a large expense may crop up that you hadn’t budgeted for, or perhaps your budget just feel short this month. If you find yourself in a situation where you’re considering a payday loan, you may be wondering how you can compare your options to find the best one.
Check into Cash Loans
Check into Cash allows you to directly apply for a payday loan and have your cash when you need it.
- Min. Loan Amount: $50
- Loan Term: Varies by state
- Turnaround Time: 1–2 business days
- Total Costs: Varies depending on the amount and your state of residency.
- Must be 18+
- No security needed
- Confidential and secure!
A selection of payday loans you could apply for
Here are some loan providers that you can apply to. Note that the max loan amount is based on the provider’s max amount. The amount will vary based on your state of residence.
A selection of loans you can apply for
Here are some loan providers that you can apply to. Note that the max loan amount is based on the lender’s max amount. The amount will vary based on your state of residence.
- If the provider quotes a different rate to the one above please let us know
A selection of lender matching services you can apply with
These lender matching services are not lenders, loan brokers or agents for any lender or loan broker. They also do not make credit decisions. They focus on trying to match you with a lender that might be able to provide you the funds you seek. Note that the max loan amount is based on the matching services max amount, but it will vary based on your state of residence. If you proceed with one of these services, confirm that the lender is reputable by checking with your local government.
- If the provider quotes a different rate to the one above please let us know
What features make a payday loan the best for you?
When you’re searching for a payday loan you can ask yourself a few questions to narrow down your options and find the right one. Make sure to pay attention to the following points:
- Do you need a secured or unsecured loan? Finding a payday loan that doesn’t require any form of collateral should not be difficult, but there are certain payday loan providers that require you to provide collateral in the form of your car’s title. These are referred to as car title loans, with the loan amount based on the amount of equity you hold in your car.
- Is there a store network and online presence? Any lender that calls itself the best payday loan company should offer you convenience when it comes to borrowing. This may mean they have a wide network of stores across the US or that they let you apply and manage your loan online.
- How long does it take to process the loan? Some of the best payday loans of 2015 ensure that you get access to the required funds the following business day. In fact, lenders who accept in-store applications even provide instant payday loans where you get money immediately after the loan’s approval. A limited number of lenders provide instant online payday loans, but require that you use a particular debit card for the transfer.
- Are you aware of all the fees? While some of the best payday loans provide quick access to funds, take the time to find out just how much you’ll have to pay in the form of fees. The best payday loan company in this regards is the one that charges the lowest fees. Remember that how much you borrow affects the fees, as do state regulations which vary from one state to next.
- Does the lender accept bad credit applications? If you’re looking for the best bad credit payday loan, take into account that most payday lenders accept applications from individuals who don’t have good credit history. If the lender you’re looking at requires good credit history and you aren’t eligible, simply move on to the next.
The pros and cons of some of the best payday loans
- You can get your money quickly.
When you’re applying for one of the best payday loans of 2015, you can get your money immediately after approval, provided you apply in-store. With certain lenders you can apply online, and then rush to your nearest store to collect the approved funds. Most good providers of online payday loans transfer approved funds to your bank account the next business day.
- Freedom to use the money as you like.
You can think about applying for a payday loan no matter what reason you need the money for. Once you get your money you can use it to pay bills, repair your car, or just get that extra cash you need to see you through.
- You can still apply if you have bad credit.
If you suffer from poor creditworthiness, you probably don’t stand too much of a chance in getting a loan from a prominent bank. Payday loan providers normally accept applications from people with poor credit histories, but make sure you compare other aspects when looking for the best bad credit payday loan.
Cons to consider
- Higher than normal fees.
Even the best payday loan company will charge fees for providing loans, and payday loans tend to attract higher fees in comparison to conventional loans. A general rule of thumb is that the more you borrow, the more you pay in the form of fees.
- Disreputable lenders.
If a payday lender sounds great and is offering rates too good to be true, be sure to find out if they are. Ensure the lender complies with all relevant state regulations and that they are operating legally.
Anything that isn’t ‘the best’ with these loans?
Before you apply, ensure that you won’t have any problems in repaying the loan, and if you think you might have trouble, avoid applying in the first place. No matter how good a loan might seem, make sure you take some time to review the loan contract carefully because this gives you a clear picture of the fees you’ll have to pay as well as other terms and conditions surrounding your loan. Know that even the best payday loans can end up costlier than originally anticipated, especially if you don’t repay your loan on time.
Questions you might have asked
We understand that you may be cautious when applying for payday loans. Here are some of the questions our users have asked.
How long does the application process take?
Applying for a payday loan should take around five to ten minutes, provided you have all the information needed to complete the application close at hand.
Will I have to fax any documents?
While certain lenders who provide online payday loans don’t require faxing of any documents, some others do.
Are there any eligibility requirements?
Yes. You should have a steady job or earn a regular income, you should be an American citizen or permanent resident, and you should be old enough to apply as per state regulations.
When and how do I repay the loan?
You’ll have to repay the loan on your next payday, which can be up to 30 days from the date you get the loan. Most lenders require your bank account information so they can debit the repayment amount directly on the given due date. If you apply in-store, you can provide a post-dated check at the time of application. Some of the best payday loans of 2015 allow you to make early repayments via credit cards, MoneyGram and Western Union.
Can I pay off my loan early?
Some lenders may let you pay off your loan early – it’s important to check if there are any other fees and charges associated with early repayment.
Are payday loans available in my state?
Compare payday loans in your state
Bear in mind that while the best payday loans will give you quick access to the money you need, there are a number of good payday loan providers vying for your attention, so compare all your options available before applying.