What states is MyFlexCash available in?
As a tribal lender, MyFlexCash offers payday loans to residents of all 50 states.
$200
Min. Amount
$1,000
Max. Amount
1 business day
Turnaround time
Product Name | MyFlexCash payday loans |
---|---|
Min. Amount | $200 |
Max. Amount | $1,000 |
Loan Term | Varies |
Turnaround Time | 1 business day |
Requirements | Valid bank account, employed, $1,000+ monthly income, US citizen or permanent resident, ages 18+ |
MyFlexCash offers short-term loans to residents of all 50 states. But you need a job to qualify. And its high fees could lead to APRs in the thousands.
MyFlexCash is a tribal lender run by Red Hawk Financial, which operates under the Mechoopda Indian Tribe of Chico Rancheria. It offers short-term loans from $200 to $1,000 — though first-time borrowers may not be eligible for the highest amounts. And they’re typically due by your next pay day.
When it comes to costs, MyFlexCash charges $30 per $100 borrowed — which could result in APRs in the thousands. It’s able to charge such high fees because as a sovereign enterprise, it doesn’t have to abide by state payday loan regulations.
Once approved, you’ll receive the funds in your checking account as soon as the next business day.
As a tribal lender, MyFlexCash offers payday loans to residents of all 50 states.
There are a few perks to borrowing with MyFlexCash, including:
Consider these potential drawbacks before taking out a loan from MyFlexCash:
Possibly. While it encrypts any personal information you enter on its online application, its privacy policy leaves a lot to be desired. It doesn’t explain what kind of information it collects, just that it will collect it. And beyond a few lines about your information potentially being shared, there are no details on how you can limit collection or sharing. If you’re worried, you might want to reach out to MyFlexCash directly to ask more about its policies.
It depends on what customer review site you check. As of May 2019, it’s not accredited with the Better Business Bureau (BBB) and only earns a C+ rating. It doesn’t have any customer reviews listed, though six people filed complaints against the company due to its high fees and mishandling of repayments.
It fares better on Trustpilot, scoring a 9.1 out of 10 based on nearly 200 customer reviews. Though they were all from “verified orders,” we were a bit suspicious that the majority of these reviews were positive one-liners left over the past few weeks. From our past experience looking at borrower reviews, we found this a bit unusual.
Either way, we recommend reading over your contract carefully before signing an agreement with MyFlexCash to ensure you understand the full cost of your loan.
To qualify for a payday loan from MyFlexCash, you need to meet the following requirements:
To apply for an installment loan with MyFlexCash, follow these steps:
MyFlexCash will process your application and send an email detailing your approval status. If you submit your application before 3 p.m. ET on a weekday, your loan may be funded the next business day. If you apply outside of business hours or on the weekend, it may take two or more business days to receive your funds.
Have the following information on hand to speed up the application process:
Once you have your funds, check your loan agreement for the due date — typically your next pay day — and amount you owe. If you can’t make your repayment, reach out to MyFlexCash at least two business days before your due date to extend your loan. However, be aware that this will likely add to the cost of your loan.
As a tribal lender, MyFlexCash may be able to offer you a payday loan — even if your state government bans them. But its high fees and strict eligibility requirements might make you want to look elsewhere.
Before you commit, compare your other short-term loan options or consider one of these payday loan alternatives instead.