Access up to $400 for a flat $20 monthly fee with this line of credit.
|Product Name||Jackson Hewitt Early Access Line of Credit|
|Max. Loan Amount||$400|
|Loan Term||Repayment due on your next payday|
|Turnaround Time||Within 24 hours|
|Requirements||Paid via direct deposit, US citizen or permanent resident, age of majority in your state|
- Paid via direct deposit
- Age of majority in your state
- US resident
What is Jackson Hewitt Early Access?
Jackson Hewitt Early Access is a line of credit that gives you an advance on your paycheck. It works like a prepaid debit card, where you request up to your credit limit and have the funds loaded onto the card. After you get paid, you’re required to pay off your balance in full.
The tax preparation company offers this service in partnership with American Express and Republic Bank. American Express provides the card, while Republic Bank funds the advance. It’s easier to use if you already bank with Republic Bank, since you can have repayments directly withdrawn from your bank account. But you can also repay your advance by logging in to your online Jackson Hewitt account.
What states are Jackson Hewitt Early Access pay advances available in?
- Rhode Island
- Washington, DC
- West Virginia
What are the benefits of a Jackson Hewitt Early Access pay advance?
From no credit score requirements to lower costs than payday loans, here are a few perks of taking out an Early Access line of credit:
- Cheaper for larger amounts. No matter how much you borrow, you’ll always pay the same $20 flat fee. So you’ll get the best deal if you borrow up to your credit limit.
- All credit types accepted. Jackson Hewitt doesn’t have a minimum credit score requirement.
- No late fees. You don’t get charged extra if you don’t repay your advance on time.
- Reports to the credit bureaus. Unlike payday lenders, Jackson Hewitt reports repayments to at least two credit bureaus, which can help build your credit if you pay on time each month.
- Faster tax refunds. You can get your tax refund loaded onto your prepaid debit card up to two days earlier by signing up for this service.
- Swipe or get cash. You can swipe your card at the store, use it to shop online or withdraw cash for no fee from one of the over 24,000 ATMs in its network.
What to watch out for
Consider these potential drawbacks before signing up for Jackson Hewitt Early Access:
- Monthly fee. Regardless of whether or not you request an advance, you still have to pay that $20 monthly fee.
- No online application. You can only apply in person at a participating Jackson Hewitt location.
- Limited availability. Currently, this product is only available in 18 states and Washington, DC.
- Direct deposit required. You must receive direct deposit from your employer or government benefits program to qualify.
- New product. This product was only just released in 2018, so it’s possible Jackson Hewitt and its partners are still working out the kinks.
Beware of monthly fees
Jackson Hewitt’s monthly fees kick in as soon as you request your first advance and apply, whether you use the line of credit or not. This could add up to being even more expensive than a payday loan if you only need an advance once in a while.
Looking for an affordable one-time payday loan alternative? You might want to consider other options like pay advance apps or payday alternative loans from a federal credit union.
Compare other short-term loan options
Is it safe to apply for a Jackson Hewitt Early Access pay advance?
Generally, yes. You can only apply in person at a Jackson Hewitt location near you. Call ahead to make sure they’re participating in the Early Access program — not all are. This means there’s less chance of your information being compromised since it’s impossible to guarantee the safety of information you submit online.
What do borrowers say about Jackson Hewitt Early Access?
Not much as of May 2019. Jackson Hewitt’s Early Access product is new, so there hasn’t been a lot of time for borrowers to comment on their long-term experience. A few users complained on online forums that it took too long to receive the card. Others were concerned about how long it took to load the funds on the card, with some pointing out that the offices aren’t open on Sundays.
Am I eligible?
You must meet the following criteria to qualify for Jackson Hewitt Early Access:
- Paid via direct deposit. You must receive $100 over your credit limit from an employer or government benefits program each month.
- Age of majority in your state. To take out a loan, you need to be 18 in most states, 19 in Alabama and Nebraska and 21 in Mississippi.
- US resident. You must be a permanent US resident to qualify for this loan.
How do I apply?
You can only apply at a Jackson Hewitt store that participates in the program. Before you apply, make sure you meet the basic eligibility requirements.
Here’s how to set up an appointment:
- Go to the Jackson Hewitt website and scroll down to Need your paycheck before payday?
- Click Find out more.
- Enter your ZIP code or city and click Find an Office.
- Review the addresses and call the phone number to make sure that location offers Early Access pay advances.
Once you’re approved, you’ll receive a prepaid debit card to start borrowing. To activate your card, you’ll need to set up direct deposit to your Early Access account. You can do this by giving your employer or the government your account and routing number.
The monthly card fee of $5 kicks in as soon as you receive your first direct deposit into the account. However, you don’t have to pay the $15 line of credit fee until you request a payday advance.
I got a Jackson Hewitt Early Access pay advance. Now what?
You can request an advance by logging in to your online account at any time. Enter the amount you want to borrow and Jackson Hewitt should transfer the funds to your card within 24 hours.
You don’t need to do anything other than keep an eye on your account. Jackson Hewitt automatically deducts repayment from your account once your direct deposit appears in your account.
If you have any questions or concerns, reach out to customer service by calling 800-234-1040.
Jackson Hewitt’s Early Access pay advance could be a more affordable alternative to payday loans if you need funding each month. But it might not be worth it if you’re only looking for a one-time advance — you have to pay the $20 monthly fee whether you use it or not.
Find out how it stacks up to other providers in our guide to short-term loans.