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CashAdvance Reviews

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  • Pros
  • Large network of lenders
  • Clear and simple business practices
  • Quick and easy application process
  • Bad credit is acceptable
  • No fees for not going forward after completing the application
  • Cons
  • High interest rates
  • Fees and rates aren't visible until you've made an account.

CashAdvance Payday Loans

Best Value Award 2016

Cash Advance has been in the business since 1997 and has accumulated a large network of lenders. They offer a free service to help consumers secure legitimate cash advance loans to meet their needs. Cash Advance is not a lender, but they work with hundreds of trusted lenders to deliver satisfactory results.

The company sets itself apart from competitors with their level of customer service and dedication to helping others understand how to protect themselves when receiving a cash advance loan, along with their network of reliable lenders. According to their website, their mission is to never push a customer into a loan they don't want. They take pride in offering tons of loan choices and are members of the Online Lenders Alliance (OLA), a national organization that is dedicated to promoting the best practices in the online lending industry. Cash Advance protects your data, privacy and rights as a consumer.

Loan Terms and Benefits

This company is quick and efficient when it comes to processing your request for a loan and paring you with a lender. They claim to facilitate approvals within seconds so you can get your payday loan as soon as possible.

Cash Advance works with over 400 lenders to help give you the loan you need quickly. The short term loans you can receive after working with this company range from $100 to $999. Loans are usually issued out with a 30-day repayment period and the terms vary by lender and state. Loan rates are almost always determined by the lender and Cash Advance is adamant about lenders approving or denying a loan based on more credit or bankruptcy issues. They look at a variety of risk assessment factors including your income, debt history and other loans which can improve your chances of getting the loan.

When selecting a quick cash advance loan, it's important to reach the company and carefully read through their loan requirements, interest rate and repayment plan so you can make an educated decision about which loan company you'll work with.

Disadvantages

Payday loans are often associated with large fees and interest rates and the loans that can be found in the Cash Advance network are no exception. Higher costs are to be expected with this type of loan but you can't get idea about specific rates and fees on CashAdvance.com until you've signed up and gained access to their list of lenders. While lenders determine the interest rate depending on a variety of factors, it is usually well over 100%. One of the downsides of using this company is that most of the lenders they work with will offer extremely high interest rates. On the plus side, loan repayment terms are rather quick so the interest shouldn't accumulate for long.

The Application

Cash Advance doesn't have a formal application but rather a loan request form on their site that you can fill out and submit for processing online. You can apply by filling out basic information like your name, address, driver's license or state ID number, birth date and social security number. Once you submit the form, you should receive a response rather quickly.

After you are matched with a lender and choose to move forward, when the short-term loan is approved, the funds will be deposited directly into your account. During the application process, Cash Advance doesn't perform credit checks, but the lender might.

In order to qualify you must meet the following criteria:

  • Be 18 years of age
  • Have a job and take home at least $1000 per month after taxes
  • Have a current phone number and valid email address.

If you already have one short-term loan outstanding, you may not qualify for a new one depending on the state you live in. You can check the status of your short term loan request by calling customer service during business hour or sending an email. Usually customers will receive a notification announcing whether or not their loan request is approved or denied. If you fill out the application form but then you decide not to go forward with a payday loan you do not have to pay any cancelation fees.

As a customer, you'll receive a customer ID number and have access to the Account Center where you can locate information from the loan request form and update any addresses or phone numbers on your account if they've changed.

If you need to use Cash Advance again, they make the loan request process so simple. You will simply just need to log on to you existing customer profile, visit the account center and find your brand new loan request form already filled out for you based on your responses from the last application and ready to go. All you need to do is review the document to make sure all of the information is still accurate.

Repayment

Repayment terms for your loan will be determined by your lender. Since cash advance simply connects you with a legitimate lender, they are not responsible for collecting payments from you. Generally, the amount of the balance you owe along with any fees will be taken out of your account automatically upon the due date of the loan.

If you need an extension on your loan repayment, you should let your lender know as soon as possible before the funds are due. Any extensions on repayment may carry additional fees depending on the lender.

Resources

Cash Advance has a lot of helpful resources on their website. They have a very detailed FAQ page, customer portal for current and past customers to utilize, and a collection of lender availability, maximum loan amounts and loan terms for each state. Potential and current customers can search for their state and learn about valuable rules and regulations regarding payday loans in their area. Cash Advance has customer service professionals available Monday-Friday to help answer additional questions or concerns you may have in order to help the process run smoothly.

Verdict - Superb

Cash Advance is a good choice among payday loan sites. Its large network of payday loans gives you more options to choose. Their online form and quick processing allow you to get your money quickly. Keep in mind that interest rates for quick loans can be extremely high so use the resources on their website to compare common loan rates and terms in your state.

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CashAdvance Consumer Reviews

Average Customer Rating

8 out of 10 rating 8 3 User Reviews

User Rating Distribution

Ratings: 10 - 9 1
Ratings: 8 - 7 2
Ratings: 6 - 5 0
Ratings: 4 - 3 0
Ratings: 2 - 1 0
9 out of 10 rating 9 Customer Service None

If you are able to pay off the loan quickly and on time, you will have no issues. Great customer service team as well.

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8 out of 10 rating 8 Professional service None

Unlike other companies, when signing up I did not start to receive a load of cold calls and the service I received was suprisingly good. I wouldn't recommend a payday loan in general, but if like me you are stuck and have no where else to go then cash advance is the company to use.

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7 out of 10 rating 7 Customer service was good Interest rates high

I was really concerned about taking out a payday loan as there are so many bad reviews out there, but I was so desperate as my paychecks can be quite irregular, so I decided to try CashAdvance, as they had the best reviews compared to the other companies. I was very suprised from start to finish and the whole process was smooth and no problems what so ever. Yes the interest rates are high, but if you pay it back as agreed then there are no problems. If you need a payday loan, I would try this company.

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In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.

Advertiser Disclosure

In order for MoneySavingPro to remain a consumer free service, many of the companies covered in our industry reviews compensate MoneySavingPro for new sign ups.

However, the results of our comparison tools, the rankings of the providers and the information presented is not affected by compensation. Indeed, many of these companies approach us for an advertising partnership after we have already written a published their reviews.

While we try to research and review as many providers as possible in the 100+ industries we cover, we have not reviewed every company available.

Our rating system is independent of compensation and reflects our true understanding of the industry and the company based on a variety of factors. The companies that receive the highest rating will always be the providers that we believe offer the best value to the consumer.