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Cash America Today is a direct online lender that offers short-term personal and cash advance loans to borrowers with a variety of different types of credit scores. The company provides unsecured personal loans and does not require a credit check, making it easier for borrowers with poor or no credit to still get approved. Cash America Today has a same-day decision process and transfers funds as soon as the same business day. The company has flexible payments, and as a first-time borrower, Cash America Today offers loans from $200 to $1,000. Read Cash America Today reviews below to see what customers are saying about the personal loan provider. 

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The Good

  • Three-Day Grace Period
  • Same-Day Approval and Funding
  • No Credit Checks
  • No Prepayment Penalties

Three-Day Grace Period

Cash America Today gives borrowers a three-day grace period to return their loan funds and cancel their personal loan. This can give you peace of mind to know you have a brief trial period to change your mind in case your financial situation changes and you no longer desire a loan from Cash America Today. 

Same-Day Approval and Funding

If all documents are submitted early enough on a regular business day, Cash America Today can approve a loan application on the same day of submission. If approved, loan funds can be deposited into your bank account on the same day or by the next business day. 

No Credit Checks

Cash America Today does not run credit score checks in order to approve or deny a potential borrower. This makes it easier for people with poor credit to have an opportunity to take out a loan. However, annual percentage rates will likely be higher since no credit check is required. 

No Prepayment Penalties

Cash America today does not charge any prepayment fees. This means borrowers can make extra payments and pay off their loans early without penalty. Being able to repay the loan earlier than the due date could potentially save the borrower a great deal of money in interest charges. 

The Bad

  • Small Loan Amounts
  • Online Transparency
  • Required Monthly Income
  • Late Payment Fees
  • No Loans Available for Military Personnel
  • Limited Time in Business

Small Loan Amounts

Cash America Today offers smaller loan amounts that range from $200 to $1,000. This may work for borrowers looking for smaller personal loans. However, if you are looking to borrow a larger sum, you may want to look into other personal loan companies that offer a wider range of funds. Repayment terms are also shorter than most, the standard term being 12 bi-weekly payments, not exceeding 180 days. 

Online Transparency

Online lenders typically have more information available on their websites as this makes it easier for potential borrowers to compare rates and terms of different companies. Cash America Today has missing information on its website, exact annual percentage rates being the most important. Without exact APR ranges, it's difficult for lenders to determine how Cash America Today compares to other lenders in the industry. You have to fill out an online form to receive your customized APR. It is also unclear if Cash America Today offers a competitive intro apr or if the company charges an origination or transaction fee. 

Required Monthly Income

Cash America Today requires borrowers to have a monthly income of at least $1,200. There are some lenders who don't have income requirements, and this may prove to be a difficulty for any borrowers who make less than this amount per month. You also have to be at least 18 years old and employed for the last three months before you are eligible for a Cash America Today loan.

Late Payment Fees

If you do not have sufficient funds in your bank account on your payment due date, Cash America Today will charge a NSF (Non-Sufficient Fund) Fee of $20. You also must contact Cash America Today at least two days before the payment due date letting them know of the situation and to set up payment arrangements. If you don't inform Cash America Today beforehand, the lender will take the money owed of your account as scheduled. 

The lender offers an extension if you pay at least enough to cover the interest earned up to that point ("usually the finance charge previously disclosed as $30 per $100 borrowed and annual percentage rate ranges from 365% to 1,564%, depending on the terms of the extension).

No Loans Available for Military Personnel

Cash America Today states on its website that the lender does not currently provide loans to military personnel. This may prove to be a difficulty if you are military personnel and are looking to take out a loan through Cash America Today. If this is the case, we suggest looking into other lenders.

Limited Time in Business

Cash America Today is a fairly new company. Potential borrowers may want to do business with a lender that has more experience under their belt. Limited time in business also means there aren't as many customer reviews available, making it difficult to know how the customer service is and if it creates a satisfactory customer experience. 

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The Bottom Line

Cash America Today is an online lender focused on providing unsecured personal loans. No credit check is required, so borrowers with poor or no credit will still have a chance to be approved for a loan. This gives borrowers with less than excellent credit a better chance at approval. There is same-day approval and you can receive funds within the same business day. There is also a three-day grace period if you decide to change your mind and want to return the personal loan funds. Loan repayment typically consists of 12 bi-weekly payments for up to 180 days. 

However, Cash America today offers small loan amounts ranging from $200 to $1,000, so if you are looking to fund a larger expense, we suggest looking into other lenders that offer larger loans. There is also a required monthly income, so if you are making less than $1,200 per month, you will not be eligible for a Cash America today loan. Cash America Today also charges late payment fees and does not currently provide loans for military personnel. Loan repayment terms are short and typically last up to 180 days. With limited Cash America Today reviews and unknown rates and terms, we suggest looking into other top-rated personal loan lenders as it is unclear how its offerings and customer service compares to other lenders. 

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User Reviews

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2 Reviews

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Lily Appiano
December 11th, 2018 Fresno, CA

I was approved online, but when I called after signing all the paperwork to finalize my loan, they put me on hold, came back told me I was denied but no one could tell me why, when I asked to speak with someone who could tell me, they said that there was no one who could tell me why.

L Martin.
August 29th, 2017

LIES! Poor customer service , Rude!!! Will offer you one amount through email and then change it...Will gather all your information gave you to contact bank and will rudely decline your approval .