Cash Central Review

With services available in 25 states, Cash Central serves more of the country than lenders like LendUp. Only 34 states allow payday lending, so Cash Central operates in 69 percent of the available states.

Our Verdict

Cash Central serves a wider area than other lenders, but its fees don’t make it standout.

For

  • This lender offers lines of credit in some states.

Against

  • Its fees are more expensive.
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The website lists the requirements for an online payday loan.

The website lists the requirements for an online payday loan.
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The FAQs section provides details on this lender's rates and fees.

The FAQs section provides details on this lender's rates and fees.
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You may not be eligible for a loan depending on what state you live in.

You may not be eligible for a loan depending on what state you live in.
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You can fill out an online application and should be approved that same day.

You can fill out an online application and should be approved that same day.

With services available in 25 states, Cash Central serves more of the country than lenders like LendUp. Only 34 states allow payday lending, so Cash Central operates in 69 percent of the available states.

There are no national standards for payday lending – each state regulates the industry individually. In some states, such as Wisconsin, there are no restrictions. In states like that, Cash Central charges up to $27 per $100 borrowed, which is on the higher end but not uncommon among the lenders we reviewed. States like California and Washington have restrictions on the maximum amount a lender can charge. The lowest amount we saw Cash Central charge is $15 per $100 borrowed.

If you apply online, Cash Central’s website tells you if you’re eligible for loans where you live and what type of loans it offers there. In some states, you may only be able to apply for installment loans. These loans are larger, topping out at $5,000 as opposed to $1,500 for a payday loan, and they can be paid back over a longer term. They’re just as expensive as even the best payday loans though – the quoted APRs are the same, so you can expect to pay more than double the amount you borrow.

In some states, you can also get a line of credit through Cash Central. This may be the best option if you need access to money to meet pressing financial need. A line of credit has rates similar to a payday loan or installment loan, but you only pay on the amount you use. It’s closer to a credit card but doesn’t have as many requirements for applying.

Cash Central has store locations in some states but is only online in others. The only significant difference between getting a loan online versus in a store is how quickly you get the funds. With an online loan, you typically get the money in one to two business days. Store locations can get you the cash immediately, so if you have an urgent need, a store may be the better option.

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