Are you financially strapped and in desperate need of quick cash until the next payday? An online payday loan may be worth considering, but you should compare your options before applying. Here are some of the best to choose from.
1. Advance America
Advance America offers payday loans with terms ranging from two weeks to one month, depending on your payroll schedule. This direct lender took the number five spot on TheTopTen.com's list of best payday loan companies.
To get started with Advance America, select your state of residence to view the applicable fees and terms for online cash advance products as they vary by state. If you agree to the terms and conditions, complete the online application. Upon approval, funds will be deposited into your account the next business day.
2. ACE Cash Express
If you live in California, Florida, Idaho, Kansas, Louisiana, Minnesota, Ohio, or Texas, you may qualify for an online payday loan through Ace Cash Express, which carries a four-star rating from Trustpilot. However, loan terms and conditions vary by state, so be sure to review your respective state's licenses and rates information before moving forward.
Complete the online application to determine if you qualify. If so, you can select the electronic deposit option to have the funds directly deposited into your bank account. Plus, you have a 72-hour window to make a decision without being penalized should you decide a payday loan with Ace Cash Express isn't right for you.
LendUp takes a rather unconventional approach to payday lending. They offer payday loans of up to $250 with a 30-day repayment period. What's even better is you can earn points that make subsequent loan products more affordable by making timely payments and completing online financial literacy courses.
4. National Payday
National Payday is a proud member of the Online Lenders Alliance, an organization that ensures lenders uphold the industry's best practices and comply with the federal law at all times. They offer cash advances ranging from $100 to $400 for first-time borrowers and up to $1,000 for subsequent loans if your account is in good standing. A flat fee of 25 percent of the amount borrowed is assessed, and the loan is due the following payday, up to 16 days from the day of funding. Funds can be wired into your account the same day or direct deposited the next business day.
You can apply for a payday loan on their website or by calling 877.778.8006.
5. Cash Net USA
CashNetUSA, which is currently listed as the top payday loans company and a trusted partner of TheTopTens.com, offers next business day online payday loans. The amount and loan terms vary by state. You can search and view your respective state's rates and terms.
To apply for an online payday loan with CashNetUSA, complete the online application or call 888.801.9075.
Established in 1997, Speedy Cash is a direct lender that offers online payday loans ranging from $100 to $1,500. They are accredited by Consumer Affairs and recently received a four-star rating for overall customer satisfaction.
The loan rates and terms vary by state. In most instances, the loan will be due on your next payday, and extensions are available for an additional fee.
To apply for an online payday loan with Speedy Cash, you will need to create an online account.
7. Trusted Payday
Trusted Payday, which received a five-star rating and claimed the number one spot for payday loans on TopConsumerReviews.com, can connect you to over 70 lenders. Loan amounts range from $100 to $1,000, and the loans fees vary by the lender and your respective state of residence. Upon approval, the cash will be available the next business day and is due on your next payday. However, extensions can be granted for a fee, which also varies by lender.
The online application takes three minutes to complete.
An Important Consideration
You should always weigh your options and analyze the terms and conditions of the online payday loan you are considering. If you don't like what you see, visit your local financial institution to inquire about other more cost-efficient alternatives or borrow the funds from a friend or relative.