What states are Jackson Hewitt Early Access pay advances available in?
- Rhode Island
- Washington, DC
- West Virginia
Jackson Hewitt might be known for its tax preparation services, but recently it’s started offering short-term loan alternatives. In 2018, it released a line of credit that allows you to get an advance of up to $400 before your payday. It could be a more affordable option for borrowers who regularly rely on payday loans — it’s generally less expensive. But if you’re only looking for a one-time loan, this might not be for you.
Within 24 hours
|Product Name||Jackson Hewitt Early Access Line of Credit|
|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|
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 It’s easier to use if you already bank with Republic Bank, since you can have repayments directly withdrawn from your bank account.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.
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:
Consider these potential drawbacks before signing up for Jackson Hewitt Early Access:
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.
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.
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.
You must meet the following criteria to qualify for Jackson Hewitt Early Access:
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:
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.
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.
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