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Community Choice Financial short-term loans review
Payday, installment and auto title loans open to residents of 31 states.
Community Choice Financial and its subsidiaries work with borrowers in over half the US to offer short-term loans. But you might want to read the fine print carefully before borrowing with this company — it recently finalized a settlement with the state of California due to deceptive lending practices.
Kellye Guinan is a seasoned financial writer with over 500 articles under her belt spanning all things loans from auto to personal to business and everything in between. With four years in the field and five years of research experience, she's able to make complex personal finance decisions easier for anyone to tackle. When she's not up to her knees learning about the latest trends in lending, she spends her time improving her own financial literacy and expertise — and maintaining a Duolingo streak of over 1,300 days.
What is Community Choice Financial?
Community Choice Financial is a short-term lender that offers payday, installment, auto title and motorcycle title loans to residents of 31 states. Its online loans are offered through Cash Central, while its in-store loans are offered by Community Choice Financial or one of its subsidiaries.
Because it works in a wide variety of states with their own regulations, how much you can borrow, rates, fees and terms will vary depending on where you live. You’ll need to check Community Choice Financial’s website for information about the loans available in your specific state. Regardless of where you live, expect APRs in the triple digits — which can mean paying back double or even triple the amount you borrowed.
What states is Community Choice Financial available in?
Community Choice Financial is available in 31 states:
What are the benefits of Community Choice Financial?
Community Choice Financial provides clear information on the services it offers.
More than just loans. The lenders working under Community Choice Financial offer prepaid debit cards, check cashing and other in-store services.
Informative security policy. Community Choice Financial has a robust security policy that explains exactly how it collects and uses your personal information — rare for a short-term lender.
Wide availability. Community Choice Financial and its subsidiaries are able to offer loans to residents of 31 states.
What to watch out for
Community Choice Financial may have a few transparent policies, but it does have some drawbacks:
Faced recent government action. The state of California recently finalized a settlement against Community Choice Financial. It accused the business of overcharging borrowers, running deceptive advertising and cashing checks before the due date.
Not always Community Choice Financial. You won’t necessarily be borrowing from Community Choice Financial. Instead, you may have to work with Cash Central or one of its subsidiaries.
What companies does Community Choice Financial do business as?
Community Choice Financial also operates as:
EasyMoney Cash Center
California Check Cashing
Cash & Go
For online loans, you’ll be redirected to Cash Central.
Is it safe to apply for a loan from Community Choice Financial?
Because of these two points, you should pay extra attention to the lender you’re borrowing from, since there’s a chance it won’t be Community Choice Financial. Read our guide to payday loan scams and understand your contract before signing. This can help prevent you from giving money to the wrong company — and help ensure the fees you pay for your loan are legal in your state.
What do borrowers say about Community Choice Financial?
Community Choice Financial has been accredited by the Better Business Bureau since 1998 and earns a B+ rating. But as of August 2019, nearly 150 borrowers have filed complaints against the company.
Criticisms center around the lender’s poor customer service and high fees. Many borrowers also complain about being called multiple times a day.
Am I eligible?
Community Choice Financial doesn’t state any specific eligibility requirements, though you typically need to meet the following criteria to take out a short-term loan:
Visit Community Choice Financial’s website and click Apply Now.
Select your state and click Continue to Application to be redirected to Cash Central’s website.
Enter information about yourself, your employment and your bank account.
Provide contact details for three references.
Once you submit your application, Cash Central will contact you to verify your information. If approved, you’ll typically receive your funds in one business day.
What documents do I need to apply?
When you apply, have the following information ready:
Bank account information
Social Security number
Contact details for three references
I got a short-term loan. Now what?
It’s time to start budgeting for repayments. Read over the entire loan contract and make note of the fees you’ll be charged and the due date.
Since you aren’t necessarily borrowing through Community Choice Financial, double-check the name of the lender you should be making repayments to. If you run into any problems or have any questions with your loan, reach out to the customer service team of the lender listed on your loan contract.
Community Choice Financial and its subsidiaries may operate in a slew of states around the US. But it can get confusing knowing exactly what company you’re borrowing from. And its recent government action over unscrupulous lending practices is more than a little disconcerting.
You can visit the Contact Us page on Community Choice Financial’s website to fill out an email form or write directly to the lender by emailing email@example.com. You can also call Community Choice Financial at 855-920-9800 to speak with a representative.
You can confirm the authenticity of a Community Choice Financial call, text or email by calling 800-460-4305 and speaking to a representative to confirm the correspondence was legit.
Depending on where you live, your local Community Choice Financial storefront may offer the following services:
Western Union money transfers
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