USA Web Cash installment loans review
Open to residents of seven states — but watch out for interest rates in the triple digits.
If you need cash fast and your credit is less than stellar, USA Web Cash may be able to help. But it only works with residents of a few states. And you need to bring home at least $1,000 a month to qualify.
1 to 2 business days
What is USA Web Cash?
USA Web Cash is an online lender that offers installment loans to residents of seven states. How much you can borrow, rates and loan terms all vary depending on where you live. Here’s how it breaks down:
|State||How much you can borrow||Interest rate||Loan term|
|Illinois||$100 to $4,000||182.5% to 425%||4 to 6 months|
|Missouri||$100 to $4,000||200% to 425%||4 to 18 months|
|New Mexico||$100 to $2,500||175%||4 to 18 months|
|South Carolina||$601 to $2,500||425%||4 to 18 months|
|Texas||$100 to $4,000||10%||3 to 6 months|
|Utah||$100 to $4,000||395% to 425%||3 to 6 months|
|Wisconsin||$100 to $4,000||395% to 425%||4 to 18 months|
You may also be on the hook for fees on top of interest, so read your contract carefully so you fully understand the total cost of your loan.
The online application should only take a few minutes to complete, and you may be eligible even if you have bad credit — provided you make at least $1,000 a month and have a bank account that’s at least 30 days old. Once you’re approved, you may be able to get your funds as soon as the next business day.
What are the benefits of an installment loan with USA Web Cash?
If you’re thinking of borrowing from USA Web Cash, consider these features when making your decision:
- Transparent terms. USA Web Cash provides the loan amounts, interest rates and loan terms available for each state it services to give you an idea of how much it will cost you.
- Return borrowers may qualify for larger loans. Successfully paying back your loan on time could help you unlock larger borrowing amounts in the future.
- May run special promotions. USA Web Cash occasionally runs promotions that allow you to get cash back on your loan.
What to watch out for
USA Web Cash has a few drawbacks to consider before submitting an application:
- High rates. You could see interest rates as high 425% depending on your state of residence.
- Limited state availability. USA Web Cash only offers loans to residents of seven states.
- May sell your personal information. Your personal information may be sold to third-party affiliates, which could lead to unwanted emails and phone calls — even after you’ve taken out a loan.
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Is it safe to apply for an installment loan through USA Web Cash?
In general, yes — though no website can ensure your information stays 100% secure. USA Web Cash does its part by encrypting any details you submit through its online application.
However, USA Web Cash reserves the right to sell your information as well as share it. This means it may make money off of any personal details you submit — even if you’re ineligible for a loan.
While this isn’t necessarily an uncommon practice, there are lenders that don’t sell borrowers’ information. So if you’re uncomfortable with this, you may want to consider another provider.
What do borrowers say about USA Web Cash?
Nothing good as of May 2019. It’s listed under its parent company — Genesis Financial and Payment Systems Illinois — with the Better Business Bureau (BBB) and receives an A+ rating. However, it’s not accredited with the bureau, and six customers left negative reviews referencing problems with late fees and high APRs.
Reviews are just as negative on Trustpilot, with several borrowers having problems with USA Web Cash processing paperwork. And one customer ran into issues after requesting a small extension on a due date.
Am I eligible?
To qualify for an installment loan from USA Web Cash, you must meet the following criteria:
- Have a bank account open for at least 30 days
- Earn a monthly net income of at least $1,000
- Be at least 18 years old
How do I apply?
You can apply over the phone by calling 800-618-6576 or online by following these steps:
- Visit USA Web Cash and click Apply Now.
- Select your loan amount and term, then enter your full name and email address.
- Enter information about yourself, including your address, date of birth and Social Security number.
- Enter details about your employment, income and bank account. You will also have to provide two references.
After you submit your application, USA Web Cash will email you with instructions on how to activate your account. Applications are usually processed on the same day, and if you’re approved, funds are typically available the next business day.
What documents do I need to apply?
To apply, you’ll need to have the following information ready to go:
- Bank account numbers
- Social Security number
- Driver’s license, passport or state ID
- Employer contact details
- Contact information for two references
In addition to this information, residents of Illinois and South Carolina may need to submit their most recent pay stub.
I got a USA Web Cash installment loan. Now what?
Once you receive your funds, it’s time to start thinking about repayments. Your loan agreement should outline exactly how much you’ll have to pay each month, along with any late fees or other charges you can expect.
Repayments are typically automatically deducted from your bank account on the due date, but you may also be able to mail a check or make a manual payment. USA Web Cash charges no prepayment penalties, so you can save on interest by paying back your loan ahead of schedule.
Have questions? Reach out to a USA Web Cash customer service representative by calling 800-618-6576.
Unlike many other short-term lenders, USA Web Cash provides a decent overview of the potential borrowing costs. But it’s still an expensive form of credit, with rates likely hitting the triple digits. And your personal information may be sold to its affiliates.