Cash Advance America Review

Review of Advance America loans: Payday loans with high-interest rates

Advance America is a large lender offering online loans as well as in-person lending at over 1,400 locations. It provides payday loans, installment loans, title loans, and personal lines of credit to people with less-than-perfect credit.

The minimum loan amount for payday loans can be as low as $100. However, the maximum and minimum loan amounts may vary from one state to another.

High-interest rates

Advance America’s interest rates can be extremely high. Although rates vary depending on loan type and state of origin, they are often higher than triple digits. For example, payday loans in California come with fees that equate to an annual percentage rate, or APR, of around 460%.

Although interest rates for installment loans may be lower, some have higher APRs than 200%.

Short term loans

Payday loans from Advance America are short-term loans that you pay back on your next payday. Usually, they arrive within two to four weeks. These loans can be extended for a longer time, which can lead to high-interest rates.

Advance America offers longer terms on installment loans. These terms vary depending upon where you live and how much money you borrow.

You may not need good credit

Even if your credit score is not perfect, you may still be eligible for an Advance America loan. Payday loans (also known as cash advances) require a government ID and Social Security number. They also require proof of income and active checking accounts. However, credit checks are mandatory for installment loans.

Advance America loans: A closer look

Advance America claims it has issued loans of over 134 million people over the past 22 years. We will also be taking a closer look at other essential aspects of Advance America.

  • There are many physical locations: Advance America has 1400 locations in the U.S.
  • It is not available in all states: In some states, payday loans are illegal. Advance America may not be able to operate in your area due to local laws.
  • Potentially quick access to cash: You may be able to leave with money in your hands if you apply for a payday loan in person. Online applications received by 10:30 a.m. Eastern Standard Time on weekdays could be processed and funded to your bank account that day. Advance America claims approval decisions will be available within minutes.
  • Rollovers might be possible: You may be eligible to renew your payday loan or extend it for a few months, depending on your state. This may sound like a great benefit, but the fees and interest can add up quickly.

For whom is an Advance America loan good?

Avoid loans that have an APR of more than three figures if you can. Payday loans can be expensive, so they should only be used last resort if you have no other options.

The Consumer Financial Protection Bureau warns payday loans can become debt traps. People take on new debt to repay old debt.

It’s not always possible to give up payday loans. Advance America offers high-interest loans with high-interest rates. It is essential to understand the costs and create a budget to repay the loan.

Advance America: How do you apply?

Advance America makes it easy and quick to apply for a loan. Both online and in-store applications are similar.

These are the details you will need to submit to Advance America to get a loan or payday loan. You may need more information if you are applying for an installment loan.

  • Government ID
  • Income proof
  • Account Check
  • Social security number
  • Personal check (for applications in-store)
  • For online applications, a valid email address

You can apply in person at an Advance America office near you. You can submit your information online by visiting the Advance America website.

Are you unsure if Advance America is the right fit for you? These are some alternatives.

Payday loans may not be suitable for you. If you’re struggling financially and looking to borrow, consider a payday alternative loan first. These are other lenders that you might be interested in.


Avant could be a good option if you have good credit and are looking for a lower interest rate than you would typically find with a payday lender.


LendUp is a great option for people who want to get out of payday lending.


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Author: Jay Batson

My Name is Jay has and I have a passion for financial writing. I am the chief writer on this blog. I do my best to verify all the information but if there is anything amiss please let me know and I will do my best to correct it.

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