Best PayDay Loans

best online payday loans

Payday loans, also known as cash advance loans, are considered an alternative to conventional credit cards in the Western consumer lending system and are widely used, as a rule, by the middle and lower classes of the population. The simplest and fastest procedure for obtaining such payday loans online predetermined the overall success of this financial product.


– APR:207%-805%, based on credit score, history, etc.

– Min Max loan amount:$300 – $2,400

– Coverage (states):30 states

– Pros 

  • Operates in just under 30 states, so there’s a high likelihood that you’re able to apply for a loan
  • Takes online security seriously. Not only do they have SSL encryption for their website, but they also have Norton & MacAfee verifying their security on a daily basis

– Cons

  • The low ceiling on installment loans
  • CashNetUSA has had 206 BBB complaints over the last 3 years and 65 complaints over the last 12 months.


– APR:Ranges from 29%, for the best, established customers to the level equal to the maximum legal APR for short-term loans: for example, 460% in California. APR is the highest with a seven-day loan of $ 250 – 767% (or less, depending on state laws), and the lowest with a 30-day loan of $ 100 – about 210%.

– Min Max loan amount:$100 – $255

– Coverage (states):23 states

– Pros 

  • Good credit isn’t required. LendUp approves people with poor credit. Their mission is to provide money to qualified applicants when they need it.
  • Instant decision on the loan. Applying takes no more than a few minutes, and you can find out if you’re approved instantly after submitting your application.

– Cons

  • LendUp has loan defaults. In this case, the company acts like a regular bank – it contacts the collectors and transfers information about the debtor to the credit bureau.
  • The CFPB found that the company didn’t give consumers the opportunity to build credit or access to cheaper loans in certain states, as it had claimed it would.

Check City

– APR:$20.00 per $100 borrowed.The Annual Percentage Rate (“APR”) will vary depending on the length of your loan.

– Min Max loan amount: $100.00 – no limit

– Coverage (states): 17 states

– Pros 

  • Online and in-store pickup. Depending on your state of residence, you may be able to visit a Check City store and have your loan application processed in-person.
  • Quick processing. When applying in-store, the loan approval process only takes a few minutes, and you can receive your cash the same day. When applying online, funds are usually deposited into your bank account by the next day.
  • Multiple services. Check City’s services are not limited to payday loans. In any Check City store, you have access to a number of products.

– Cons

  • Check City’s fees are higher than average.

– APR:390%

– Min Max loan amount:$100 – $1,500

– Coverage (states): 30 states

– Pros 

  • Check Into Cash is a direct lender with over 1,000 offices nationwide and more than 20 years in business
  • It provides loans in 30 states – more than any other lender.

– Cons

  • The service’s fees don’t stand out as especially low.

Online PayDay Loans Guide

What is a Payday Loan 

A payday loan is a short-term unsecured loan issued for urgent consumer needs, such as paying medical bills, car repairs, and more. Its amount ranges from 100 to 1,500 dollars. A loan is issued on the day the application is received for a period of about two weeks. The name “payday loan” initially comes from the words “pay day”, i.e., a loan is usually issued until the next date the borrower receives his next salary.

The main disadvantage of payday loans is the extremely high-interest rate charged on these loans. As a rule, credit companies set interest rates in the amount of 10-30%. Thus, if you count in annual terms, the annual interest rate is 390-780%.

However, the small size of such loans, their short duration, and ease of obtaining made payday loans extremely popular. After filling out a simple online form on the website, the funds are credited to the borrower’s bank account within a few hours. The whole process is carried out on the basis of the data specified in the completed online application form. Credit companies do not pay attention to the credit history of a potential borrower and do not require the provision of any supporting documents.

Thanks to this, even people with a bad credit history who cannot count on using a regular credit card can apply for a payday loan.

After the loan expires, the amount, taking into account interest, is automatically debited from the client’s bank account. Note that in most US states it is allowed to extend the term of a payday loan for a longer period without charging additional interest.

Often, credit companies in the United States that provide payday loans are criticized by experts. In their opinion, payday loans only add problems to people with negative credit history, while continuing to drive those into new debts. On the other hand, payday loans often remain the only alternative for a person with a bad credit history, who are faced with financial difficulties and is in need of cash.

Despite all the contradictions, this type of express lending does not lose its popularity in any way in the United States. The annual volume of loans issued of this type has doubled over the past six years and amounts to hundreds of millions of dollars.

Main online Payday loans requirements

  • the borrower must have an active checking account; 
  • the borrower must provide some proof of income; 
  • the borrower must have valid identification; 
  • the borrower must be at least 18.

How long does it take to get a payday loan?

To get a loan, you need to fill out a form on the website of a credit company and enter the following data:

  • passport and identification number;
  • bank card number (money will be transferred to it);
  • place of work;
  • home address;
  • marital status and the presence of children.

The originals of the documents do not need to be carried anywhere.

Microfinance companies also do not need a statement of income. You may be asked for the name and phone number of your boss or someone of your colleagues in order to check your place of work.

Within 5 minutes after filling out the form, you get a solution. If the answer is yes, the money will immediately go to your card.

Can you get a payday loan through a bank?

Banks do not trust young people who are only eighteen and do not have a permanent job. However, if you have six months of working experience, you can apply for a loan. Here you need to know that a higher level of earnings increases the chance of obtaining a loan. But for sure you will have to deal with many formalities. The bank will check your creditworthiness. You will probably also need a certificate from the employer, an account statement, and a statement of income. Of course, there are banks that offer simplified procedures for issuing same day payday loans, but there are not many.

Bank requirements for their borrowers are much higher, and young people cannot always satisfy them all. Quick loan sites have a much more liberal and simpler form of communication with customers. A loan at a non-banking institution gives:

  • Permission to receive funds without information for what purpose.
  • Registration through the network, all the operations you do at home.
  • Payday loans amount of $ 1,500 in ten minutes.
  • Money in your account will be on the same business day.

If you need money right now, it will be much easier for you to get money from non-bank financial institutions that issue loans without unnecessary formalities.

When applying, you will need to indicate the amount of borrowed money, your email, phone number, as well as the account number for receiving funds, how long you borrow money.

Can you get denied for a payday loan?

Microfinance organizations are quite loyal to a potential client when collecting information. It is not required to provide income certificates, available property, and a list of guarantors. 

Despite this, the percentage of failures to issue a microloan is present. Reasons why MFIs may refuse:

No income increases the chance for failure.

 Although microfinance companies usually do not require confirmation of the source of income, sometimes such a question may appear in questionnaires. In the case of small loan amounts, you will not need any confirmation. 

However, if you apply for a loan of more than $1000, lenders may ask you to provide documents confirming your monthly income. Based on them, your ability to pay on loan and bear daily expenses is analyzed. If your income is insufficient, you can also expect rejection of a loan application. 

So, for example, one should not expect approval of a high amount for a student loan or a loan to pensioners who do not have other sources of income other than scholarships and pensions. Without a regular income, it will be difficult to obtain and repay a loan.

Active or unpaid loan 

The rules of many payday loans companies indicate that money cannot be received by a client who already has an active loan in this company or has debt on a previous loan. In other words, a company cannot issue two loans simultaneously in one hand. 

This rule also applies if there is one owner in different MFIs. That is, if company X belongs to the same owner as company Y, an outstanding loan from company X will automatically reject the application from company Y. You can forget about a loan from company Y until you settle your debts with company X.

Low credit score

In many MFIs, those who wish to receive a loan will have to go through scoring. The higher the scoring rate of the potential borrower, the greater the chances of a positive response on the application. 

Points are calculated differently in each MFI, which means that companies use different algorithms and systems to calculate it. If the score is too low, the system will not give you any offers, and you will be refused. But there are cases when loans are poured without checking the borrower’s credit history. We do not argue that the interest rate, in this case, maybe slightly higher than under standard conditions, but it can become a lifeline in financial difficulties.

Errors in completing the loan application

Microfinance organizations usually use very short and clear questionnaires, but sometimes mistakes can be made when entering personal data. As a rule, these are random typos that appear not only in the surname but also in the phone number or email address.

Each IFC and IWC need to identify the borrower, but due to such seemingly insignificant errors, its implementation becomes impossible. Therefore, be very careful when entering information, because every inaccuracy can lead to rejection of the application. Before confirming the data specified in the questionnaire, it is better to double-check their correctness. A typo in a loan application may prevent you from borrowing money.

False data submission 

Incorrect data can also be entered into the questionnaire due to your deliberate actions, that is, with the aim of deceiving MFIs. Most often, such fraud is manifested in the overstatement of the income or status of your debt. 

Remember that each information you provide can be easily checked by the lender at any time. Therefore it is better not to hide anything and indicate only the data that is true. If your lie is revealed, you can forget about the loan in this company not only now, but also in the future.

Strange behavior of the borrower: sending an application and an immediate subsequent desire to refuse a loan can negatively affect the client’s reputation. After several reckless applications, the lender will write the necessary entries in the credit history, or even make the borrower blacklisted, and then it will be very difficult to get a microloan even in another MFI.

Non-compliance with MFI requirements 

Before you apply for a loan, it is also worth checking the requirements of the lender to the borrower, to whom the lender is willing to borrow money. Sometimes it happens that even age affects the receipt of a loan. For example, when a company introduces age restrictions and provides for the issuance of loans to people under the age of 21 years or older than 65 years. 

Therefore, we recommend that you familiarize yourself with the requirements before applying for a loan, as they can also be the reason for the rejection of our application. This information can be found on the official website of the payday loans organization or on our website in the ranking of companies.

How to get a payday loan without refusal

To increase the chances of obtaining a microloan, you should send applications to a larger number of MFIs. Each payday loans organization approaches the assessment of the borrower individually. Therefore, it is likely that one company will refuse you, and the other will give a positive answer. The main thing is to ask for the real amount of the loan so that there are no problems and delays in repaying it.

What states are you licensed for online payday loan business?

Usually, states, where you can get a payday loan, are as follows: Alabama, Alaska, California, Colorado, Hawaii, Idaho, Illinois, Kansas, Missouri, Nevada, North Dakota, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming.

However, this range may vary from company to company. For example, one can have only 7 states where their offices function while the best payday loans boast up to 30 states.

Can you go to jail for not paying back a payday loan?

Mortgage borrowers, by law, have the right to temporarily reduce or terminate loan payments if they find themselves in a difficult life situation. For example, they lost their jobs or fell ill for a long time. 

In the case of payday loans, there is only one way out – to negotiate with the company.

Negotiate with the payday loan company

The main rule: contact the company first, do not hide, do not wait for the debt to disappear or they will forget about you.

Even if collectors do not call you or write from the company, this does not mean that you have been forgotten and forgiven. Interest is accrued, debt is growing, credit history is deteriorating.

In addition, many companies prescribe in the contracts themselves that the borrower must immediately inform the company that his financial situation has deteriorated so much that he cannot repay the loan on time. That is, if you do not pay and remain silent, you thereby violate even more rules.

This is not to say that the company is waiting with open arms for its insolvent customers and is ready to give them credit vacations on favorable terms, but it is possible and necessary to negotiate with it.

What can I negotiate with the company about?

Deferment of payment

One of the possible options is a credit vacation, a delay in payments for several months. The company is not obliged to agree to a deferment, but if you have been a trustworthy client for many years, paid regularly, you have a good credit history, the company understands the circumstances and sees that you are not a scammer – perhaps it will meet you. Remember that such a delay will increase the amount of the following payments. And if during this time you do not improve the financial situation and start paying, most likely, the company will not make concessions again.

Debt restructuring

Deferrals are often denied. Then try to agree on debt restructuring – revising the terms of the loan to reduce payments.

There may be other options for changing the terms of the loan agreement – it all depends on the company. For example, providing a grace period, when, for a certain time, you will pay only interest or, conversely, only the main debt. Or reduced payments – for example, in the next 2 months you will pay only half of the regular payment, and in the next 2 months – 1.5 regular payments.

How to negotiate with the company?

Get ready for the conversation. Collect all documents that may be the basis for a deferment or revision of conditions. It is important to have at least some kind of documents confirming the difficulties that have arisen, and not just words that there is no money.

It can be:

  • a reduction order and a copy of the workbook with the corresponding entry;
  • a lawsuit and a statement to suspend work if the employer delays the salary;
  • death certificate of the loan co-borrower (or a close relative who helped you pay the loan);
  • disability certificate;
  • an extract from a medical record that confirms a serious illness or the need for an expensive operation;
  • documents about damage to property that generated the income – for example, the house you rented out;
  • birth certificate of a child.

Do not make promises if you yourself are not sure of the possibility of their fulfillment. If you agree on deferral or preferential payments for a month, but nothing changes in a month, and there will still be no money, the company will no longer meet you.

Should I take a new loan to pay off the old one?

In most cases, this is a bad decision. Firstly, you already owe one in this company, and they may not give you a loan in another. Or they will, but with a higher interest rate than if you had no debt. If you panic over new loans to pay off old ones, you can get caught up in a debt hole.

I got laid off at work. I’m sick. Will the law protect me?

In the case of a mortgage loan, payments on which usually eat up a large share of the family budget, the law gives you the right to respite – a mortgage vacation. But you can use them only once during the term of the loan agreement, and their maximum duration is six months.

For payday loans, the legislation does not provide any concessions even for the worst scenarios (loss of a breadwinner, disability). In such a situation, all the risks fall on you. The company may make concessions, but do not expect that the loan will be forgiven to you or the state will intercede for you. Credit will have to be paid in any case.

If a company has lost its license, do I owe anything to anyone else?

No, your debt does not disappear after the bankruptcy of the company; it is transferred to a third party – another company/organization or Deposit Insurance Agency. You will have to pay the debt, and it is important to keep abreast: follow the news and do not stop paying the loan. New details for paying a debt to a bankrupt company must appear on the website of the Deposit Insurance Agency – pay for them and save all payment documents just in case. If you stop paying, waiting for the official notification of the transfer of debt and change of details, then, in the end, you can get not only a letter of notification but also an impressive fine for late payments.

Won’t they put me in jail for non-payment?

Criminal liability can only occur if you are fraudulent when you took out a loan, or if you have a big debt and have money to pay it off, but you ignore both the company and the court.

In practice, it is charged if the borrower withheld important information from the company, for example, about the place of work, income level and was not going to pay.

Malicious evasion of repayment of payables after the entry into force of the relevant judicial act. What is “malicious evasion” depends on the interpretation of the court. In practice, the definition of “malicious” usually includes borrowers who have money to repay the loan, but they do not repay it, but “maliciously evade.”

If I still can not repay the loan, what should I expect?

The company has the right to demand money through the court, which will make a decision and record the amount of debt. In this case, the court can take into account your difficult situation and set sparing conditions for repaying the loan (for example, repay the debt in installments). But you could agree on a change in terms of the loan yourself with the company. And in the case of a court, legal costs will also be borne by you (for example, a company may include legal costs in the amount of recovery, and the court will take them into account). The amount of your debt will increase.

It is likely that before the trial, collectors will join the case, who will call you and remind you of the debt. No need to fear them, expect aggression or violence. Remember that collectors are required to act within the law if the collector warns that a penalty is awaiting you for the delay and the court is legal. But if threatens with physical harm, intimidates – immediately contact the police, the law is on your side.

If you do not pay even after a court decision, then wait for the bailiffs. They can recover bank accounts and valuable property that you have (within the limits of your debt).

If you took a loan on the security – for example, on the security of real estate, get ready for the loss of property. If you stop paying, the company has the right, after a court decision, to sell the security – that is, sell the apartment at auction.

If you had a surety when receiving a loan, then you can sympathize with him. Now he is responsible for your duty. The company has the right to require him to pay the debt.

And if you declare yourself bankrupt?

The most extreme measure is to declare bankruptcy. But this is not a magical way to write off debts and live peacefully without obligations. This is a severe procedure in the event of a deadlock (the house burned down, all the property was already seized, it is impossible to work due to illness). To pay off debts, the bankrupt property will be put up for auction – including a mortgage apartment, even if this is his only home. Declaring yourself bankrupt, you need to understand that this can result in a ban on leaving the country, taking up managerial positions and taking new loans without indicating the fact of your bankruptcy.

Final word

To sum up, now you can see that payday loans services are available in almost every state. So, if you have an urgent need in money, your salary is on the way to your wallet but you need cash today – such services will help you with this problem.

The only thing you have to determine for yourself is to choose the best online payday loans company that covers all your needs. However, whether your credit score is too low the information above will help you to contact as more companies as you can for that long awaited credit approval.