Rating: 4.8 out of 5 stars (4.8 / 5) is basically a one-stop shop for short-term loans, where people are given access to a network of payday lenders who adhere to some of the best practices in the industry. People can select a lender from the company’s extensive network, send in their applications, and get all the information they need about their loan, including terms, conditions, and fees. CashAdvance claims that they are completely transparent about their business practices, and they also offer various resources relating to finance, technology, real estate, etc. The company offers loan amounts ranging anywhere from $100 to $1,000 or more, and claims to have helped millions of customers obtain cash advance loans each year.

Founded in 1997, CashAdvance helps individuals to apply for, and receive, quick payday and cash advance loans through their network of lenders, regardless of the customer’s credit score. From start to finish, the whole process takes as little as five minutes, with the funds being deposited into the customer’s checking account as early as the next business day. The company claims that it provides strong security measures to ensure that all personal information remains safe, including providing certifications through three different third-party vendors.

The good stuff

  • Applying for a cash advance loan is quick and easy.
  • The company’s site is remarkably user friendly.
  • Once the loan is approved, funds can be deposited into the customer’s checking account the following business day.
  • Bad credit is okay, as long as applicants fulfil the company’s requirements.
  • No service fees are charged if the applicant decides not to proceed with the cash advance even after completing the application.
  • All transactions are tested and certified by three different third-party vendors.
  • Repayment is easy and convenient; the funds are automatically deducted from the customer’s checking account.

The not so good stuff

  • Interest rates and fees attached to cash advance loans are significantly higher than with other forms of credit; the customer could end up repaying close to twice the amount originally borrowed.
  • Fees and interest rates are not displayed on the CashAdvance website until potential customers have submitted their personal information, and are then able to view a list of lenders.

The downside to loans is very frank and forthright in advising all potential customers that cash advance loans should only be used for emergency purposes, and then only if they can be repaid very quickly. Basically, payday loans should not be considered a long-term financial solution, as many of these lenders charge enormous APRs that can range anywhere from 391% to 782%.

The reality is that most people who use cash advance loans ask for significantly higher amounts, and then carry them for much longer periods. tell their potential clients to always keep in mind that many of these lenders attach dreadful terms to their loans, so it’s very, very important that the customer exhaustively reviews all the conditions before submitting the application.