Cashback Loans

Cashback Loans review

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Need a short-term loan in Southern California? This lender has you covered.

Cashback Loans has been offering short-term loans to residents of California since 2003. With three loan options, you can apply for financing that suits your needs. But the high costs may put you at risk for default.

What is Cashback Loans?

Cashback Loans is a California-based short-term lender that offers three types of loans:

  • Payday loans. You can borrow up to $300, though you’ll only receive a maximum of $255 after Cashback Loans deducts a $45 loan fee – that’s $15 for every $100 borrowed. Terms vary, but most borrowers pay their loans back within two weeks.
  • Signature loans. Signature loans are installment loans. You can borrow between $2,510 to $3,600. Loan terms last 24 to 36 months, and interest varies based on your credit and income. There is also a $75 administration fee.
  • Auto title loans. Auto title loans, called vehicle title loans on Cashback Loans’ website, use your car’s title as collateral. This means you can borrow more – $2,510 to $50,000. However, you risk losing your car if you default.

You can apply for a short term loan online, by phone and at a store location. If approved, you can choose to pick up your loan funds at a store or have them transfered to your bank account.

State regulations dictate the interest and fees that Cashback Loans can charge for its payday loans. The maximum annual percentage rate (APR) is 460%.

How does Cashback Loans compare to other lenders?

Updated October 20th, 2019
Name Product Filter Values Max. Loan Amount Turnaround time Requirements
$5,000
1 business day
Direct deposit, meet minimum income requirements
Comes with the option to change your due date so you won’t fall behind on repayments.
$35,000
As soon as the next business day
Regular source of income, verifiable bank account, US citizen, ages 18+
Get connected with multiple lenders you might qualify with — even if you have bad credit.
$2,600
1 to 2 business days
Active checking account, regular source of income, email address
Get access to tools to help you plan a career move, make some extra cash or search for a better-paying job.
Varies by state
1 business day
Regular source of income, bank account, US citizen or permanent resident, ages 18+
Sign up for its discount program to get access to coupons and deals on everything from dining out to tax services.
$15,000
Same business day to 1 business days
$1,000+ monthly income, direct deposit, US citizen or permanent resident, ages 18+
Get offers from potential lenders in minutes by filling out just one online form.
$50,000
Same business day to 1 business days
Employed, $800+ regular monthly income, checking account, ages 18+, US citizen
Fill out a simple online form to compare offers from several lenders that may be able to help.
$1,000
1 to 2 business days
Bank account, email address, phone number, US citizen or permanent resident, ages 21+
Plus, get access to check cashing, cell phone top ups, bill pay and more at one of its many storefronts.
$10,000
As early as 1 business day
$1,000+ monthly income after taxes, valid checking account
Explore its online education center to get tips on budgeting, how to prioritize your bills and more.
$250
As soon as the next business day
Checking account with ACH, proof of income, Social Security number, ages 18+
Get rewarded for making on-time repayments with better rates and terms on future loans.

Compare up to 4 providers

What are the benefits of Cashback Loans?

These are some of the potential benefits of a Cashback Loans payday loan:

  • No credit check. Cashback Loans relies on your bank and employment information to process your application. As long as you can demonstrate an ability to repay, you may qualify for a short-term loan.
  • Easy application process. The application takes no more than a few minutes to complete, and you can apply online, over the phone or at a branch.
  • Quick turnaround. If you apply in-store, Cashback Loans can process your application within a few minutes. If you apply over the phone or online before 10:30 to 11:00 a.m. PT, you may be able to pick your loan up at a store that same day. Otherwise, it may take one to two days for an electronic transfer.
  • Payday fees clearly listed. Although Cashback Loans isn’t upfront about the interest it charges for signature loans or auto title loans, it does clearly list the possible fees you’ll have to pay for a payday loan on its website.

What to watch out for

  • Only available in California. You’ll have to be a California resident to qualify for a loan. And since the branches are all in Southern California, you won’t be able to pick up your cash if you don’t live in a nearby location.
  • High costs. Like all short-term loan options that help people with bad credit, the interest and fees charged to borrow from Cashback Loans is high. Carefully consider your needs before borrowing.
  • Risk losing your car. If you borrow an auto title loan, Cashback Loans may repossess your car if you default. Only borrow what you need and be sure to make all your payments on time.

Beware of the high costs

Although it may not seem like it, short-term loans are notorious for charging exceedingly high interest rates – usually masked in the form of fees. The legal APR of a payday loan in California is 460%, but there aren’t many regulations on other types of short-term loans.

Because of this, auto title loans and installment loans don’t really have an upper limit on the interest you can be charged. Be sure to compare your options before diving in. Finding the lowest fees and only borrowing what you need can make a world of difference when you’re already struggling for cash.

Are loans from Cashback Loans safe?

As long as you’re okay with the fee structure of payday loans in California, you can be sure that dealing with Cashback Loans is safe. It has a valid license issued by the Department of Corporations and has the required permissions from the Department of Justice. It operates in complete compliance with all applicable California state laws.

Cashback Loans also follows the Fair Debt Collection Practice Act, and its website takes normal security measures to keep your personal information safe.

What does the Internet say about Cashback loans?

Not much. Cashback Loans isn’t accredited by the Better Business Bureau (BBB) and doesn’t have a rating. On top of that, it doesn’t have any complaints or reviews.

This isn’t necessarily a bad sign, but it does mean that you’ll have a harder time judging previous borrowers’ experience with Cashback Loans’ service. If you’re unsure, take a little time to call or visit your local branch. Your interactions with a customer service representative can tell a lot about how a business treats its borrowers.

Am I eligible?

Cashback Loans doesn’t have strict eligibility criteria. As long as you meet the following points, you may qualify for a loan.

  • You are a resident of California
  • You have a regular source of income
  • You have a government-issued ID
  • You are at least 18 years old

If you want to apply for an auto title loan, you’ll also need

  • A valid driver’s license
  • A lien-free title
  • Proof of insurance

How do I apply?

You can visit a Cashback Loans location, visit its website or call its customer service line to apply. When you do, you’ll need to provide some basic information about yourself, including:

  • Your name, phone number, email and address
  • Your Social Security number and government-issued ID
  • Your employer’s name and phone number
  • Your income, pay frequency and next payday
  • Your bank’s routing number and your account number

What happens after I get the loan?

If you’re approved, review your application carefully and take note of the APR, loan term and any fees you’re charged. If you applied over the phone or online, Cashback Loans transfers the money to your bank account on the same or next business day. If you visit a Cashback Loans store, you may be able to get your loan funds the same day.

You can pay online, in-store or by phone. There may be a late fee of $15 after Cashback Loans’ 15-day grace period. And loans over $5,000 may have an additional 10% prepaid interest fee depending on your credit score.

Bottom line

Cashback loans is a California-based lender that offers payday loans, signature installment loans and title loans. Although it has a limited scope and very few reviews, it’s upfront about most of its fees and the costs of his loans.

If you’re having long-term financial struggles, consider some short-term loan alternatives instead.

Frequently asked questions

Are payday loans available in my state?

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