Cash Store Loans Review

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The Cash Store works its best to give you multiple loan types that are suitable for your needs. They provide three types of loans; installment, cash advances, and title loans—this gives you plenty of flexibility and multiple loan options. As good as this sounds, the different loan types come with varying interest and APR rates. Some of the rates may be higher than others, especially cash advance and title loans. But, you’ll be able to loan a higher amount.

Cash Store is quick, reliable, and has both physical and online stores. The application process only takes a few minutes to fill out, and you’ll hear a reply within a day. If you’re still worried about using their services, we’ll give you a complete breakdown of the company. To start, here is an overview of the different types of loans they provide;

Installment Loans

Their installment loans are quickly approved and give you plenty of time to pay them back. People often choose this type of loan due to the smaller payments and bi-weekly to monthly payments.

Cash Advance

Their cash advances are very quickly approved and can provide you instant same-day cash. These advances are often smaller than installment loans but are useful if you need quick cash. The repayment date is often set one to two weeks after you get approved for your loan.

Title Loans

The last type they offer is title loans. Title loans are also the same day and can get you up to $25,000. However, this method requires that you have a vehicle that’s worth the amount you’re borrowing. They use your vehicle as collateral, so we don’t recommend this method unless you’re okay with your car being taken away or held for non-payment.

How Does Borrowing From the Cash Store Work?

Borrowing from the Cash Store is similar to getting a loan from a bank. The only difference is that the loan amount will come with higher interest rates. Cash Store does its best to offer flexible payments and interest, but it’s still highly dependent upon a few factors.

The most significant factor is that the Cash Store only provides loans in individual states. This means you won’t be able to qualify unless you’re living in an eligible state. Aside from that, you must be a United States citizen.

To borrow, you can either visit one of their existing physical stores or fill out an application online. The application process takes less than five minutes and only requires basic information. After that, you can choose to wait for a representative to contact you or call into their customer service hotline. Either way, their wait time generally is less than 24 hours.

How Much Can You Borrow From Cash Store Loans?

With the three different loan options, you can borrow a vast amount of money, although we advise you not to borrow any more than necessary. The different loan types have different maximums.

An installment loan provides you same day installment loans of up to $5,000. However, the finalized amount is going to depend on which state you are borrowing from.

What Are The Cash Store Associated Loans Rates & Fees?

Cash Store operates in multiple states, which means that the rates and fees will vary. The APR rate varies from 350-450%. For a quick loan, it’s a high rate but not the worst that we’ve seen. On the other hand, you will have to pay extra fees. These also vary state to state and can range from $15-50 per $100 loaned.

What Happens If You Don’t Pay Back Cash Store Loans?

If you’ve decided to set up a payment with Cash Store and give them a debit authorization or check, they will attempt to debit your bank. By missing a payment, you will be subjected to a fee of $30 for every attempt made for debiting your account.

This doesn’t include bank fees. If a debit transaction is made and you do not have the funds to cover, the bank may charge you extra costs associated with the transaction.

Non-payment will result in the Cash Store attempting to contact the customer to make extra payment arrangements. If the customer doesn’t reply, they will be subjected to the law and additional finance charges.

Another method for getting a loan is to secure the title to your vehicle. If you don’t make a payment, you may be subjected to having your motor vehicle repossessed.

The sooner you contact the company about non-payment, the easier it will be to sort through alternative payment methods without extra charges or fees. We highly suggest that if you think you’re going to miss a payment to contact Cash Store right away.

Is Cash Store A Good Loan Company?

Yes, Cash Store is a legitimate loan company that operates in a handful of states. Checking the Cash Store with the Better Business Bureau, it’s a legitimate company. The only complaints are about debt collections or phone calls. However, there are no records of scams or phony operations.

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Borrower requirements
  • Age 18years or older
  • Have regular income
  • US citizen or permanent resident
  • Have a valid bank account
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  • Credit or Debit card
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Steps To Apply For Loan From Cash Store

If you’re considering applying for a loan from Cash Store, then you’ll need to either head to one of their physical locations or apply online. Their online application process is quick and only takes a few minutes. Quick approval takes at least an hour, while you may need to wait up to 24 hours to get funds in your account.

To start, head to their website and click the “Apply Now” button. This will redirect you to their online application. Fill out the necessary information and save your information. This will create a secured account and send the information to a representative.

From here, you’ll need to wait for a representative to contact you. If you applied online, you’d get instant notifications when your application is approved. After you get approved, you can then expect the funds to be deposited in your account within 24 hours.

The Cash Store All Loan Requirements

Similar to any other loan company, Cash Store requires that you meet specific criteria. To qualify for a loan, you must be able to provide the following documentation before you get approved. Here are just a few of the essential documents you will need to get verified:

  • Valid checking account
  • Pay stubs or proof of income
  • Personal checking account
  • Active debit card
  • Proof of identity
  • Be at least 18 years of age.

After that, you can expect them to run a credit check. Depending on which state you live in, there will be a different minimum credit requirement.

Advantages of Cash Store Loans
  • Quick Process;
  • All Credit Conditions Are Welcome;
  • Get Out of Debt for Good;
Disadvantages of Cash Store Loans
  • No operating in all states;
  • Rates, fees, and APR rates change depending on state;

States Where Cash Store Does Operates

Cash Store doesn’t operate in all 50 states. It only operates in a mere seven states. On top of that, they also don’t offer every loan in each state, so it’s minimal. Here’s a list of the approved states where Cash Store operates:

  • Texas
  • Illinois
  • Wisconsin
  • Michigan
  • Utah
  • Idaho

What Do You Need To Get A Payday Loan Online?

To apply online, you’ll need to head to their website. Applying online is easy and only takes a few steps. Although, all final loan amounts and approvals are completed in stores.

This is to ensure that you’re getting the best possible loan and understand all terms. There’s no hassle, and you’ll be able to talk with a trained store representative.

What Do You Need To Get A Payday Loan In-Store?

Instead of filling out an application, you can do a walk-in. To get a loan, you must provide all the necessary documentation. This includes your name, address, identification, checking number, and active debit or bank account.

They will then check your credit score, which will take under an hour. You’ll need to read over the rates, fees, and conditions of the loan. You will then sign over the official loan documents, and the funds will be deposited into your account.

For either a cash advance or installment loan you’ll need to bring the following documents:

  • Paycheck stub/proof of income
  • Checking account statement (30-days or older)
  • Personal check
  • Valid driver’s license or ID
  • For a title loan;
  • Vehicle title
  • Drivers license or state ID
  • Paycheck stub/proof of income

If you walk-in and don’t have the documentation, you will be automatically denied. Be sure also to take advantage of their New Customer Offer and Referrals.

What Time Does the Cash Store Open & Close?

Most locations tend to be open Monday thru Friday. They operate from 10 am to 6 pm on weekdays. For weekends, they are open Saturday but closed on Sunday. The hours for Saturday are from 10 am to 2 pm. The hours are determined by whatever state you reside in. However, their contact email and phone service may be open for extended hours.

If you need to get a hold of Cash Store, then head to their Contact Us webpage. You’ll need to fill out a short form with your name, date of birth, email, phone number, and state. From there, a representative will contact you either via email or phone.

For any questions, contact one of their store locations. The number for their national hotline is 1-888-950-2274. If you’re having trouble finding one of their stores, use their Find A Cash Store locator. With over 340 locations in seven states, you’re bound to find one in your area.

The Bottom Line

Overall, the Cash Store can be an excellent option for anyone living in the eligible states. They have a quick same-day process that can get you emergency funds in a pinch. However, don’t expect them to give you more than 1k. Unless you are doing a title loan, chances are you won’t see more than $900 for a loan.

The Cash Store is designed to give you quick loans for bills or emergencies. While their APR rates aren’t costly, they are on the higher side. If you don’t mind their installment loans or high-interest rates, then we see them as one of the more viable options.

That being said, many borrowers do say that if you miss a loan payment or do not have the funds to pay back the loan will hear from them non-stop. While they will not spam you, they will attempt to deposit payment via your approved debit card or checking account. The late fees add up over time. So, only use them if you believe that you can make the payment dates. Other than that, we wouldn’t recommend them for any larger loans.

( 150 votes, average: 9 out of 10)