Editor's choice: OppLoans Installment Loans
- Easy online application
- Quick approval
- Long repayment terms
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Any lender that isn’t willing to comply with state law won’t be legit. But even if it’s in line with your state’s laws, it may still be expensive. Compare legit options to find a loan you can afford.
The following should help you find legit payday loans easily:
|Lender||What borrowers say|
|Ace Cash Express|
|Check ‘n Go|
Choose your state of residence and select Show me my options to compare even more lenders.
You can — states generally don’t require lenders to check your credit when you take out a loan. But you might not get the best deal. That’s because lenders that don’t check your credit typically assume the worst and offer less favorable rates and terms than those who do.
Even if your credit is far from perfect, a lender that checks your credit is often a better bet. Look out for other red flags like guarantees and upfront fees before you apply.
|ACE Cash Express|
|Check Into Cash|
|SWIFT Money Loans|
As with every lending option, always be sure you can repay what you borrow.
Take some time to go through the loan’s terms and conditions, as this document tells you how much you may have to pay in different circumstances such as rollovers and late payments. Some states don’t allow you to refinance a loan or take out more than one within a given period of time.
You’ll also have to pay additional fees if you make a late payment, and your lender may report your missed payments to credit bureaus. Reconsider applying if you think you may have troubles repaying your borrowed funds.
Knowing what to look for in a legit lender is just as important as understanding common scams. Once you’ve checked over your state laws, know how much you need to borrow and have an idea how to repay, start comparing your options to be sure you’re getting a good deal.
Check out our answers to common questions before you apply.
No. A lender should have a license to operate in each state, and if your state doesn’t permit payday loans, then it can’t fund any loans. You may be able to consider getting an installment loan or an auto title loan instead.
You should be US citizen or a permanent resident and you should have a regular source of income. You should also meet your state’s minimum age requirement. Other criteria depend on the specific lender.
Yes. Some legit lenders offer alternative ways to receive your loan funds such as prepaid debit card loans or picking up your cash at a nearby store.
You’ll have to provide your name, contact details, Social Security number, employment details and income details. If you’re applying online, you’ll need to provide your bank account details as well.
Applying for a loan may go on your credit history report, and if you fail to make timely payments on your borrowed funds, your lender may report you to a collection agency. This will most likely go on your credit report. It’s always important to have the ability to repay a loan before you take one out.
Of course, if you find a lender that helps build credit, making your payments on time can build your credit score. If you know you can repay and feel comfortable working with the high APR and fees, you could possibly raise your credit score through a payday loan.
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