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100DayLoans.com

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100DayLoans.com is a short-term loan matching company that connects applicants seeking to borrow money to a wide variety of lenders. They do not do any direct lending themselves, but advertise a quick and free application process that will match borrowers to lenders in as little as 90 seconds. They offer loans up to $5,000 with generally short repayment term lengths and variable interest rates.

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The Good

  • Fast Approval
  • Network of Lenders
  • Bad Credit Options
  • Reports to Major Credit Bureaus

Fast Approval

100DayLoans.com offers a free application process for finding and receiving short-term loans. Once visitors are directed to the application page, they have 10 minutes to fill out the application, which asks for:

  • Loan amount
  • Personal information, including name, address, phone, email, date of birth, driver's license/state ID number and state, and social security number
  • Active military (yes/no)
  • Employment information, including the type of employment, employer name and phone number, how often and how paychecks are received, the date of the next paycheck, and monthly income
  • Bank account (yes/no)
  • Bank account information, including the type of account, how long the account has been open, the bank name and phone number, routing number, and account number

Once an application has been submitted, it usually takes about 90 seconds for approval to come through, but may take up to an hour. Once a loan has been selected and approved, funds are received within 24 hours.

Network of Lenders

100DayLoans.com works with lenders to provide loans for up to $5,000, though first-time borrowers will typically be offered lower amounts. 100DayLoans does not do any lending themselves and so have no control over the specific repayment terms of the loans. However, the do have several notices on their website that explain that in spite of their name, most repayment terms are significantly shorter than 100 days. They also do not control interest rates and state only that rates, terms, and fees will only be disclosed once an application has been filled out and submitted.

Bad Credit Options

Everyone is invited to apply for a loan through 100DayLoans, especially those borrowers with a bad credit history who might be turned down elsewhere. Customers can apply for multiple loans through 100DayLoans, but they do encourage paying off loans before applying for additional funding.

Reports to Major Credit Bureaus

When a consumer completes an application with 100DayLoans, a credit check will be performed by one of the three major credit bureaus: Experian, Equifax, and TransUnion. However, it is important to note that this check may also be performed by alternative credit bureaus such as Teletrack and DP Bureau. Information and payments will likely be reported to one of the three main credit bureaus, although that will likely be contingent on the lender that you choose from 100DayLoans' network.

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The Bad

  • Customer Service
  • Lack of Information
  • Marketing Calls

Customer Service

100DayLoans.com lists several contact methods on their website, including:

  • Phone number
  • Mailing address
  • Email address
  • Live chat
  • Online application

However, it is very difficult to reach a real person at the company. The phone number requires callers to complete an automated application-with requirements including a zip code, birthdate, and the last four digits of a social security number-before transferring to an agent. The live chat is also completely automated and pops up unsolicited on each page of the website. The "agent" types out the same initial responses in the same order each time, regardless of any questions from the visitor. The difficulty in reaching a customer service agent is exacerbated by the lack of specific information on the 100DayLoans.com site.

Lack of Information

Because they do not issue loans directly, they have no information about interest rates, repayment terms, additional costs, or early repayment fees. The lack of transparency makes it difficult to gauge how the loans secured through 100DayLoans compare to other funding.

In addition, 100DayLoans' website is somewhat disorganized and difficult to read, making it difficult to find relevant information and it may be off-putting for some consumers, as the website may not appear to be legitimate.

Marketing Calls

The majority of complaints are regarding consumers who received a flood of marketing calls after applying for a loan from one of Blue Global Media's sites, or who were charged extra fees for loans that never came through. For the majority of the responses from Blue Global Media, they claimed that the fraudulent charges and harassing phone calls must be coming from other sites as they do not themselves collect personal information. 

However, personal information is clearly required to apply for a loan on the 100DayLoans site, as well as on other affiliated sites, so this seems like an information misdirect. There are also several complaints and negative online reviews that report information being distributed and money being taken from bank accounts without. Because the application requires so much personal information upfront, it's difficult to prevent that information from being distributed. However, 100DayLoans does use Thawte security on their site to prevent that from happening. 

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The Bottom Line

100DayLoans.com is not a direct loan lender but rather matches applicants to other lenders for amounts between $1,000 and $5,000. Repayment terms, interest rates, and fees are all dependent on the lender and specific loan terms and are not disclosed until an application has been filled out and submitted. 100DayLoans advertises funding for almost anyone, including those with a poor credit history.

However, it is not possible to reach a customer service representative or loan agent directly without filling out an application first, and the live chat feature on the website is completely automated and not very informational.

Applicants and customers of 100DayLoans should be aware of the negative feedback and lack of upfront information before submitting their applications. 100DayLoans is not a recommended company for your payday loan needs.

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Andy

100 day loans actually has a quick and easy process to match you with a lender. The only shortfall is the cost of a loan can be a little high since it's still technically a payday loan.

3 years ago

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