No time to waste? Try using this short-term loan connection service.
If you’ve found yourself short for cash and don’t have time to compare lenders, OpenCashAdvance.com could be a solution. It can quickly connect you with a lender that can help you no matter your credit or employment status. But with no reviews online and limited company info, it might not be your first choice.
Kevin Joey Chen is a credit cards, banking and investments writer whose work and analysis have appeared on CNN, U.S. News & World Report, Business.com, Lifehacker and CreditCards.com. He's passionate about helping you get your finances in order by expertly navigating cutting-edge financial tools — including credit cards, apps and budgeting software.
What is OpenCashAdvance.com?
OpenCashAdvance.com is a lender connection service that specializes in connecting you with lenders that give offer payday loans — also known as cash advances — of $100 to $500. In addition, you can request an installment loan of up to $5,000. The exact amount you qualify for will depend on your state and ability to repay the loan.
Its services are free to use, and you’ll know if you’ve been connected with a lender shortly after you apply. However, it isn’t available in every state and the lender you’re connected with might run a credit check, which could harm your score.
What are the benefits of using OpenCashAdvance.com?
Member of the OLA. OpenCashAdvance.com is a member of the Online Lenders Alliance (OLA), which has a list of best practices and industry standards that connection services abide by to keep you safe from predatory lenders.
Bad credit OK. Regardless of your credit score or any past bankruptcies, you’re welcome to apply for a loan at OpenCashAdvance.com. It will go through its network of lenders to try and find one that fits with your needs.
Quick turnaround. Once you’ve filled out the application form, OpenCashAdvance.com will get back with you quickly to inform you if you’ve been connected with a lender.
No obligation. Filling out the form doesn’t mean you’re locked into a contract. You choose whether to accept the terms of a loan after you’re connected.
What to watch out for
Limited company information. OpenCashAdvance.com has an about section, but it doesn’t provide much information about the company itself. And with only a phone number and an email form to get in touch, you likely won’t be able to ask for more when you apply.
Not available everywhere. OpenCashAdvance.com doesn’t lend to residents of Arkansas, New York, Pennsylvania, Vermont, Washington or West Virginia. And if it doesn’t have a lender in your state, you won’t be connected.
May check credit. While OpenCashAdvance.com won’t check your credit, some of its partner lenders might. This could lower your score, making it harder to qualify for personal loans from banks and online lenders in the future.
OpenCashAdvance.com doesn’t charge any fees, but that doesn’t mean it’s cheap to borrow. If you’re connected with al ender, be sure to read its terms for fees and rates. Interest rates on cash advance loans can range from 200% to 2,290%, and you may also need to pay financing fees once you receive your loan.
Other fees may be added if you are late or miss a payment entirely. Always be sure you can pay back money within your next payday before you borrow any money. If you can’t, or if you think this might not be the best choice for you, consider your short-term loan alternatives instead.
Is it safe to apply with OpenCashAdvance.com?
Your information is safe when you enter it into OpenCashAdvance.com’s application, but that doesn’t mean you’re completely safe. Part of the connection service process is having your information sent to various lenders. This means you could be contact days or even weeks after you’ve applied with a lender — which could lead to some phone calls or junk email sent your way.
What does the Internet say about OpenCashAdvance.com?
Not much. Like many other connection services, OpenCashAdvance.com doesn’t have a page with the Better Business Bureau (BBB) or on Trustpilot. This means you’re flying blind when you use it as a connection service.
If you do choose to apply through OpenCashAdvance.com, check the BBB and Trustpilot for the lender you’re connected with. Be sure to note its ratings and how easy it is to contact customer service before you complete a full application and borrow a loan.
Am I eligible?
In order to be connected with a lender, you must meet the following criteria:
You must have an income of at least $800 per month
You must have an open bank account
You must be a US citizen or permanent resident
You must be at least 18 years old (varies by state)
How do I apply?
Provided you have all the information ready, it only takes 10 to 15 minutes to apply with OpenCashAdvance.com.
Visit OpenCashAdvance.com and select how much you need. Then enter your first and last name, zip code and email address. Click Get Started.
Select the amount you want to borrow, enter your full address and your phone number. Click Continue.
Enter your first and last name, email and date of birth. Click Continue.
Enter your bank’s ABA/routing number and your account number. Click Continue.
Select how frequently you’re paid, your next pay date, your bank account type and if you have direct deposit. Click Continue.
Enter information about your employment. Click Continue.
Enter your driver’s license number and Social Security number. Read over the terms & conditions. Click Go to submit your application.
Once you submit, OpenCashAdvance.com will review your application and attempt to connect you with a lender.
I was connected with a lender. Now what?
Once you’re connected with a lender, you’ll be redirected to its website to complete your application. Your lender will review it and may contact you for more information. If approved, read over your loan contract carefully. This will state the amount you’re borrowing, the amount you’ll pay back and when each payment is due. Keep track of this and budget carefully — a missed payment could result in a high late fee from the lender and an overdraft fee from your bank.
No. OpenCashAdvance.com doesn’t charge any fees to use its service.
Through the OpenCashAdvance.com website, you can request up to $5,000. However, the maximum amount you can borrow will be determined by the lender you’re connected with and the regulations of your state.
No. If you don’t have a job, OpenCashAdvance.com will try to connect you with lenders that offer loans to unemployed individuals.
If you’re approved, your loan will be deposited in the bank account you provided when applying through OpenCashAdvance.com.
It depends on the lender you’re connected with. Read your contract carefully and contact your lender if you have any questions.
Cash advance is another way to say short-term loan, which can be either a payday loan or installment loan. Because payday loans come with steep finance charges, it is not a long-term solution, but a temporary fix to an unexpected financial situation. Rules and regulations for short-term loans vary from state to state.
Make sure you can repay your loan before you agree to borrow, and carefully read over the lender’s terms and conditions so you know exactly what you’re getting into — and how much it might end up costing.
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