Check Into Cash

• Fast Customer Approval
• Educational Materials

Fast Customer Approval

With fast approval service online or in-store, Check Into Cash can connect customers to funds within one business day of applying online, or during the same visit if applying in-store. Nineteen states offer both in-store and online application options, nine states only offer in-store applications, and two states offer online applications only. 

The application process for a Check Into Cash payday or installment loan is quick and you only need a few items. These include your social security number, government-issued driver's license or photo ID, your checking account number or bank statement, bank routing number, and proof of income. You must be at least 21 years old to apply, except in Alabama where you must be 19 years old.

When a customer goes to the website, they will simply complete an online loan application in as little as five minutes. Then, a Check Into Cash representative will call and take the customer through the secure loan application process.

Educational Materials

The ‘Payday Loans’ section of the website explains what an online payday advance is and navigates you to the ‘How It Works’ section for descriptions of what materials you need and how to get started. 

The ‘Rates & Terms’ section outlines specific details for each state, since each state has different payday lending requirements and regulations. It is fast and simple to find the APR*, fees, and maximum loan amounts by clicking on your state.

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• Large Payday Loan Fee
• No Longer Term Options
• Possible Additional Fees

Large Payday Loan Fee

Check Into Cash charges borrowers a large fee to use its services. Depending on the state, the APR* can range from 153% to 1042%. The APR* varies greatly depending on the state you live in and, in some cases, by the amount you are borrowing.

For example, a $300.00 loan in Idaho with a 14-day term advance will have a $75.00 fee added onto the repayment amount. This is a high-interest loan. The finance charges add up to an APR* of 651.79%.

If the entire amount, loan plus fee, is not repaid on the agreed-upon date, you are charged an additional $20.00. Check Into Cash offers 7-, 14-, or 30-day loan terms.

On the other hand, as a founding member of the CFSA, this lender is committed to transparency. That's why we are able to easily find its loan terms. Other online payday lenders and loan companies aren't so straightforward about their rates. 

No Longer Term Options

Most states offer a 14-day term and repayment is due on the next payday. This is a strict payday advance, meant for short-term credit needs. There is no option for a longer term with a lower APR*.

Possible Additional Fees

If you need more time repaying the loan, there are a few different fees to know about; however, they vary by state. These include late fees and insufficient funds fees. 

If you are late repaying the loan amount or the check comes back with an insufficient funds notification, Check Into Cash has an Extended Payment Plan available in some states. It is similar to the one offered by Cash Central, except it incurs interest at the same rate until you pay back the original amount and additional fees. 

If you still do not repay your loan amount, your account’s outstanding balance may be turned over to a third-party debt collection agency, affecting your credit report, your credit score,  and possibly incurring even more fees on top of the amount that has already been borrowed and charged.

Like all other payday lenders, this is not a long-term financial solution.