Check Into Cash Payday Loans
Check Into Cash is another payday lender that has been in business since the early 90s. They are a direct lender, which means instead of connecting you to a network of lenders, you get your loans from Check Into Cash itself. Check Into Cash provides payday advances, online payday loans, title loans, title pawns, check cashing, and Western Union.
The company was founded by Allan Jones in Cleveland, Tennessee in 1993 and has since then grown to more than 1,000 branch locations in 30 states.
Loan Details and Benefits
Check Into Cash offers some more transparency than other sites and businesses in the industry. Just by browsing the site you can get an idea what kind of interest rates you will pay and the fees that are associated with a loan. This doesn't necessarily mean that it isn't a good idea to ask about any other rates and fees before accepting the loan. It is, however, a bit more straightforward than other sites in the industry that require sign-ups before you can access that information. Borrowers can submit a quick and simplified application right on their website for convenience, or they can walk into the nearest branch and apply.
Check Into Cash has over 1000 branches nationwide, however not every location offers in-store cash advances. Their payday advances range anywhere between $100 to $1,000, depending on your state of residency. You can apply for a payday loan either in-store or online if Check Into Cash doesn't have a location near you.
If you need an installment loan, Check Into Cash offers loan amounts ranging from $500 to $3000 and this can range by state because each state regulates the minimum and maximum installment loan amount. The Annual Percentage Rate (APR) for payday loans varies as well determining on what state you live in. For example, a $100 single payment payday loan can range from $260.71 to $782.14 on a 14 day term. It's best to check with your local Check Into Cash to see what interest rates are for loans in your area.
While Check Into Cash does offer the convenience of applying online for a loan, borrowers may be subject to an application fee. The approval process is also a little slower than comparable companies and when it comes to payday loans speed is often the whole point. If you're in a bind and need cash extremely quickly, this is something you should keep in mind.
Check Into Cash is also not available in every state so some borrowers won't even be able to access their services. Their website does have a 'State Center' where customers can search for branches near them, but it would be easier and much more user friendly if there was a clear list of which states they do and don't do business in.
Check Into Cash allows you to apply online in one of their branches for a payday loan or cash advance. If you prefer to apply in person, you can even print out of the application and a fill it out ahead of time to bring in.
In terms of convenience however, the online application wins hands down because not only can you complete it in the comfort of your own home, but it only takes a few minutes to complete and you'll know the results of your application submission quicker.
When you fill out an online application, a customer service representative will contact you in order to verify the information you submitted. If your request for a loan is approved, the funds can be deposited directly into your checking account within 24 hours or the next business day.
Loan requests are typically processed before 7:00 PM EST during non-holiday weekdays so it's best to avoid submitting an application on a weekend if you prefer a fast response.
To qualify for a cash advance or payday loan, you need to bring in a current pay stub or another form of income, a state or federally-issued photo ID, your most recent bank statement and possibly a personal check. You must also be at least 18 years of age. Check Into Cash usually doesn't run a credit report during the application process so as long as you are working a job that allows you to receive a consistent income and meet all the other requirements, your credit doesn't need to be absolutely perfect.
Payday loans or cash advances through Check Into Cash are typically due on your next pay day or in about 14 or 15 days. You may be able to qualify for an extension or extended term if you qualify and give enough notice.
Borrowers usually have anywhere from 6 to 12 months to repay their installment loan. If you decide to pay back your installment loan early, you won't be penalized.
According to the company's website, delinquent accounts may be turned over to a third party collection agency and insufficient funds and late fees may apply.
It's important to be fully aware of all the loan repayment terms and requirements ahead of time so you can figure out what you'll need to do to be able to pay off your loan on time.
Resources In addition to a helpful online application system for borrowers on their website, Check Into Cash provides customers with other resources like a search feature so users can find the branch closest to them and FAQ resource pages for installment loans, payday loans, cash advances and more.
Customers can also log on to view their account details and application through the website. If you ever have any questions, customer service representatives are available by phone or online. You can even type in your phone number in order to have someone give you a call to assist you.
Verdict - Good
Check Into Cash's clear and transparent information can be found right on their site before you sign up. This is a refreshing practice in the industry; however, fees and interest rates are still very high. Also, ask about how long it will take to get your loan before signing up.