CashOne
Author: Kaitlyn Short
Founded in 2002, CashOne is an online payday loan matching service helping to connect consumers with lenders when financial emergencies arise.
Customers can fill out a quick online application, which should only take about three minutes. Once it's done, customers are usually connected with a lender within 90 seconds. It can take one business day to get your money deposited into a checking account.
Eligibility varies by state and lender, but for the most part, the requirements include the following:
- Active checking account
- At least 18 years old
- Currently employed (90 days at the same job)
- Net income at least $1,200 per month
- Income to be verified
- U.S. citizen, legal residents are eligible in some states
- Current phone number and email address.
Keep reading for pros and cons.
Top Ranked Companies
The Good
- Quick Application
Quick Application
One nice thing about CashOne is that the online application is really fast. It should take less than three minutes and can be filled out on a computer or mobile device.
After you fill out the application, you are quickly connected to your lender. From there, your experience really depends on the lender’s policies.
The Bad
- Not a Direct Lender
- Policies Vary
- Payday Loans
Not a Direct Lender
This is a loan matching service. It doesn’t directly offer loans. People can fill out an online application and then CashOne sends your information to other lenders who will get to approve or deny your loan.
Policies Vary
No matter which of the five states you are living in, you can’t know in advance what kind of policies and fees your matched lender will offer. That is because policies depend on the lender and you won’t know who that is until you submit your personal information. This includes whether or not a credit check will be performed.
The CashOne website states that you might have to provide a copy of the following documents, depending on the lender:
- current utility bill with your name and address
- recent bank statement(s)
- recent paycheck stub(s)
- valid social security card
- valid state issued driver's license or identification card
- a voided personal check, if available
It is a little unnerving to provide a copy of your social security card online to a lender. If you do go ahead and fill out a CashOne online application, be sure you ask your approved lender about fees and for an annual percentage rate.
Payday Loans
Just to be clear, any loan that you get through this lending service is going to be a payday loan. Payday loans are an expensive form of credit and shouldn’t be entered into lightly or without being totally clear on the repayment terms.
The Bottom Line
CashOne is an online loan matching service for consumers with poor credit. You just need to fill out one loan application and it is sent to dozens of lenders for approval. This lender offers a pretty quick application and the ability to get hundreds of chances to get a loan. Once a lender approves you, you get connected in less than two minutes.
However, it's hard to say what caliber of payday lender you will be connected to, what their terms would be, and how many mailing lists you would be added to.
Due to this, we don’t recommend applying to a loan on cashone.com. We recommend finding a better loan company.
