Choosing The Best Payday Loan Service
Cash advance payday loan services can come in handy in a pinch. Thanks to the Internet, its easier than ever to get some extra cash when its needed. Knowing your way around the cash advance payday loan market can also be a boon to your finances. Here’s a list of some popular payday loan sites and the rates they offer:
ACE Cash Express
ACE is a direct loan/loan arranging company with over 1,500 locations across the United States, per their official website but the services are only offered in a handful of states. Rates vary per state, and the site offers a drop down menu to help the user find the correct information. In Ohio, for example, APR rates varied between 697.62% and 807.04% depending on the size of the loan and the term, which could be between 9 and 25 days.
Check ‘N Go Cash Advance
As one of the larger and more confident cash advance payday loan sites, Check ‘N Go prominently displays on its home page that it can loan up to $3,000, but reading a little deeper reveals that they can only spare half of that as a cash advance or payday loan, and the company doesn’t operate in every state. Moreover, Check ‘N Go also uses some third party lenders, especially in Ohio and Texas where they don’t offer direct loans at all. Their APR for a representative loan of $200 is 676.68%, assuming a 14-day loan term.
Offering “$1,000 as soon as tomorrow,” Money Mutual is not a direct lender, but is part of a “lending network”. According to its website , the typical representative APR range is between 261% and 1304% for a 14-day loan. In short, the site acts as a broker and distributes your information to potential lenders in a timely manner. Approval and rates depend on a user’s credit, their needs and the lender. This site explains a lot of information on its home page, even encouraging users to read up about loans and seek Money Tips if necessary.
100 Day Loans
This site offers the advantage of being a “loan matching service”, meaning that the user inputs his or her needs and the site works to find a cash advance payday loan service that works best in that situation. The site’s name is an obvious attempt to garner interest since many loan agencies don’t even approve 100 day loans, but the site has a very visible disclaimer clarifying this fact on the homepage. Given the extremely wide reach of this site, a user could get anywhere from 59% to 789% APR, depending on needs.
As evidenced above, rates can vary widely per company, but they can also vary widely per user. Having good credit and proving responsible with money are the best assets available to someone seeking a cash advance payday loan, and loans aren’t always the best solution. Talking to a financial adviser is a good option to consider before borrowing money, and having a second opinion is usually a good thing.