Cash America Loans Review

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  • Website:
  • Phone number:
    (800) 572-3577
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  • Monday through Friday from 9 am to 7 pm, on Saturday from 9 am until 5 pm
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Are you looking for a loan company to approve quick funds? Cash America Loans is a company that’s been operating since 1983. They are owned and operated by First Cash Inc., which started off in Jersey City, NJ. The company is focused on getting fast cash to people who are in need. Their requirements are set low, which allows people who have bad credit or low income to apply. If you need to get a small or large payment, you can expect them to help you swiftly.

When it comes to finding a suitable loan for you, it’s important to stay objective. We want to ensure that the money you borrow from is legitimate, and you can pay it back. So, we’ve taken the time to review Cash America Loans.

Payday Loans

Payday loans can help you get money quickly for a short-term solution. They often have high-interest rates, but it ensures that you can get your loan quickly approved in the case of an emergency. This could mean paying your rent or bills on time.

A payday loan is generally paid back either on your next paycheck or set at a monthly payback date. You should only borrow as much as you can afford. Remember that payday loans generally come with high-interest rates so that the amount may be a lot.

What’s the Borrowing Process Like for Cash America Loans?

Borrowing from Cash America Loans is similar to other lenders. You will need to first live in an eligible state to get a loan from them. If you do live in an available state, you can apply for a loan and specify the amount of money.

The application process only takes a few minutes to fill out if you know what you’re doing. It’s good to have personal documents on hand to help make the process go swiftly. Otherwise, it could take you up to an hour to apply online.

Once you submit your application, you’ll need to wait until Cash America approves or denies your request. If they accept your request, then you will be able to read over their terms and conditions. This will highlight the terms of the loan and repayments. Once you sign, you are legally responsible for everything stated in the loan. So, read carefully.

Now that you’ve signed, they will send over the funds within 1-2 days. Most times, it’s the same-day delivery. However, if you’re applying on the weekend then you may have to wait until their next business day.

What Are the Minimum and Maximum Fund Amounts?

The amount varies depending on what state you live in. For a general amount that you may see, it can range from the low end of $100. Or, it can be as high as $1,500.

Of course, the maximum amount doesn’t mean everyone will qualify for it. Instead, you will get proposed funds based on your monthly income. This ensures you will be able to pay the loan back with interest.

Are There Extra Fees or Added Interest Associated with Cash America Loans?

Cash America Loans does have a few associated fees. The fee is for the loan amount. It ranges from $13 to $102, depending on how big a loan you take out. This fee is per every $100 that is borrowed.

They don’t use any APR, which can cause a lot of interest on your loan. However, this does mean that you’ll have a fixed amount on how much you owe. This fee also changes from state to state, so it’s essential to see how much it will be in your area.

Nonpayment & Late Payment Penalties at Cash America

If you can’t make a payment on your loan, then CashAmerica will do their best to help establish better payment arrangements. However, they are committed to getting their money and collateral on time.

If you miss a payment, you won’t get reported to a credit bureau, but you will be put into delinquency and have additional late fees.

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Borrower requirements
  • Age 18years or older
  • Have regular income
  • US citizen or permanent resident
  • Have a valid bank account
Obtaining methods
  • Bank account
  • Credit or Debit card
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Is Cash America Loans a Legitimate Company?

Yes, Cash America Loans is a legitimate company that has been operating for years. Cash America Loans is a lender that is offered by First Cash Inc. They are a direct lending company that has been giving out loans since 1983.

If you’re worried about the legitimacy of the company, you can check with online reviews. We’ve checked with the Better Business Bureau and have found only a few complaints. Most were not pointed at the company as so much was stolen identity or high APR rates.

How to Fill Out Cash America Loans Applications

To apply for a loan from Cash America Loans, you will need to have all documents on hand. This includes personal information that can help verify your identity. Once you have those in place, it should only take 20-30 minutes to fill out the secured online forum.

To get a loan from Cash America Loans, you must do the following steps;

  1. Head to their main website and click on the button that says “find a store”. From there, you will be redirected to one of their physical locations that you can contact.
  2. From there, you will need to bring the details with you to a store representative. They will do their best to get you in and out of the store within an hour.
  3. Once you’ve been approved, you can expect to get the funds deposited in your account within two days.
  4. Once you accept the funds, this starts your repayment period. You must make payments on time, every time. If you think you’re going to miss a payment, go ahead and contact the company to see if they can help you.

Are There Any Requirements to Use Cash America Loans?

Cash America Loans doesn’t specify its loan requirements. So, we’re going to assume that they match the state’s laws. To get a loan you must be;

  • Over the age of 18 (19 in some states)
  • Have at least 30 days of history on your bank account
  • Proof of identity (state-issued ID, driver’s license, passport, etc.)
  • Proof of Income (pay stubs, taxes, bank statements, etc.)
  • Proof of residency (social security number)
Advantages of Cash America Loans
  • Quick Approval ;
  • Low APR Rate ;
  • Large Funds ;
  • No Credit Check ;
  • Don't Report to the Credit Bureau ;
Disadvantages of Cash America Loans
  • Only Available in 10 States ;
  • No Specified Monthly Income ;
  • Extra Fees Add Up ;
  • Hard to Navigate Website ;

What States Are Eligible for Cash America Loans?

Cash America is available in 10 different states. Here is a quick list of the ones where they operate; California, Indiana, Kentucky, Louisiana, Michigan, Missouri, Nevada, Ohio, Tennessee, and Texas.

How Do You Fill Out the Online Application for Cash America Loans?

To get a loan online, you’ll need to have some information on hand. Personal information such as your name, date of birth, and SSN can help the process go quickly.

Here is the type of information you should keep on hand;

  • Personal information (name, date of birth, SSN)
  • Current Address
  • Employer’s Address & Contact Info
  • Updated Contact Info (email, phone number, mailing address)

How Do You Get a Loan In-Store?

Cash America is one of the widest known lenders in America. They have widespread reach and have locations in hundreds of cities across the United States. To find a location near you, head to their store locator and enter your city, state, or zip code.

When you walk into Cash America, it’s good to have the same information on hand. However, the biggest difference is that you’ll want it to be official documents. So for example, you should bring these items with you;

  • State issued ID (driver’s license, state ID, passport, birth certificate, etc.)
  • SSN (social security number)
  • Proof of income (bank statements, pay stubs, profit & loss, etc.)
  • Proof of residency (Green card status)
  • Updated contact info (email, phone, mailing address, etc.)

Cash America Loans Contact Information & When Do They Open and Close?

Due to the amount of Cash America locations, the time they open and close will differ depending on what timezone you’re in. Most stores are open Monday through Saturday.

For Monday through Friday, the stores are open from 9 am until 7 pm. On Saturday they are open from 9 am until 5 pm. For Sundays, they are closed. If you need to get a hold of a representative, you can alternatively use their contact us button on their website to talk to a representative right away.

The Bottom Line

Cash America is a large business that’s been operating for years. They have locations open across the United States and have been helping people get funds in their pocket since 1983. After looking over their company, we’ve concluded that they are an excellent choice for people who need quick funds.

They aren’t perfect for big projects, vacations, or home updates. However, they are useful for small emergencies or projects. If you need a bit of money, they can help you get the funds quickly.

Since there is no APR rate, the company can easily add on extra fees. We’d be careful at the add on amount per $100 borrowed. However, this means you’ll get a flat amount on how much you owe. Over time, you can avoid interest and payback less throughout the loan.

( 133 votes, average: 7.6 out of 10)