Best payday loans companies

Our choice: Ace Cash Express

 

Overview: best for customer service and reliability

Known for its store locations scattered across the country, ACE Cash Express is a reputable payday loans servicer with 40+ years of experience, and a presence online. It offers a fast and efficient process of obtaining money, so whenever you are in need to be funded quickly, this lender will satisfy your demand and assist you as well in the process.

Payday loans are short-term loans of generally small amounts with the purpose to cover expenses until the next borrower’s paycheck. The company provides not only payday loans, but also similar services, such as installment loans, to finance you in a more convenient way than a personal loan.

ACE Cash Express can be a one-stop place if you think you’ll also use the following services: bills payment, personal/business check cashing, prepaid debit cards, prepaid mobile phones, and a few more.

Online applications are available in at least 11 States, in addition to the lending physical stores, which exist in 19 States. You can submit your loan and obtain the funds the same day, and the company keeps an overall high reputation among current and past customers. You can make the repayments both directly online and at a store closest to your residence.

The States where ACE Cash Express is operational are: Arizona, California, Colorado, Delaware Florida, Idaho, Indiana, Kansas, Louisiana, Minnesota, Missouri, New Mexico, Ohio, Oklahoma, Oregon, South Carolina, Tennessee, Texas, and Virginia.

As with all payday loans, the cost of borrowing is high compared to the conventional personal loans, so you’ll have to take a close look at the terms and conditions: fortunately, we found that ACE Cash Express is transparent about them, not surprisingly it has gained the trust of hundreds of thousands of consumers.

 

What a payday loan from ACE Cash Express is like?

Obtaining a loan from this lender is quite easy: you show up at a store or apply online, exhibit a few documents, and the same day you are done.

The cost, term of repayment, and the borrowable amount will vary based on the state you live in. Your fees are determined on applicable laws, besides considering your income; on the website, the charged fees are disclosed for some states. If you are not so much in a hurry, the customer support will be ready to answer your questions on the subject.

Here are the general features of a payday loan from ACE Cash Express:


Borrowable amounts$50- $5,000
Loan term2-4 weeks, varies by state
Loan typeUnsecured
Disbursement timeline1-2 business days
Charged fee (interest)$15-$45 for every $100 borrowed, varies depending on the loan amount and state of residency
Other feesLate payments penalty, missed payments fee
Requirements21+years old (19+ for Alabama residents), US citizen/permanent resident, active bank account, proof of a steady source of income, checking account (most recent 30-day bank statement) and bank routing number, Social Security Number or ITIN (for Indiana residents only). Minimum income not specified
Min. credit scoreN/A


The amount of your loan varies greatly among the States: in Ohio, you can borrow from $200 up to $1,500; in Texas between $200 and $1,250, while in other states you can borrow more. There are also fees for late payments, instead, there is no early repayment fee from ACE Cash Express. The company won’t ask you for any collateral asset for granting you the loan.

However, you must prove that your income flows steadily, whether you are self-employed or an employee, the funds are coming from retirement or disability. You must have a bank account, not too recent, or else the chances to get approved will narrow down.

ACE Cash Express doesn’t disclose a minimum credit score to qualify with, but at least in some circumstances will perform an initial credit pull, which will temporarily decrease your rating. This is true especially as your asked amount is higher, while it likely won’t happen if you want to borrow less than $500.

Before approaching to your loan, you have the chance to see applicable rates for your State under a dedicated section: this is crucial so that you know before even applying how much your loan will cost. If your state is missing, you’ll have to reach ACE Cash Express by phone, email, or go directly in-store.

 

Is ACE Cash Express the right choice for you?

 

Before taking a payday loan from this lender, you may want first to evaluate the relevant benefits and drawbacks we were able to find.

 

Pros:

  • Loans available both in-store and online for some States
  • Long-time established company
  • Chance to return the loan within 72 hours
  • Several financial products besides payday loans
  • Acclaimed customer service


The main edge of ACE Cash Express is its long-lasting presence in the market of loans and financial services and is generally well-known for them in the States where the company is operational: many consumers are taking payday loans, and this should give you more confidence about approaching such a loan, that is costly by nature.

The lender gives you flexibility for repayments: you can make them in-store, online, or even by checks sent by email. A rare feature you’ll find in ACE Cash Express is the chance to give back the funds you received within 72 hours from the accepted application, in case you changed your mind.

Plus, at ACE Cash Express you have the convenience of exploiting other money services besides borrowing, where the company is also experienced, so you’ll be able to save the time and effort to find a different provider.

If you seek ready and professional customer service, you won’t be disappointed. The service is available through phone, live chat, or email. As we are about to discuss, it is a workhorse of ACE Cash Express, which should be valuable for the choice of a lender.

 

Cons:

  • Lends only in 19 States
  • Not the fastest among payday loans servicers
  • Rates are disclosed only for some States
  • Credit check for high loan amounts

Unfortunately, ACE Cash Express is not active in most of the U.S. yet. You will just have to look elsewhere if your State isn’t on the list.

A potential significative flaw is that you might not be able to get your loan “so fast”: there will be a credit score inquiry for certain loan sizes, or if your income leaves doubts on repayment, and the whole process takes a bit more time than a typical payday loan, especially if you apply online, sometimes exceeding 24 business hours. If you have a very strong urgency, this might not be ideal.

Furthermore, you won’t read the loan fees for certain States (although you can know them by a simple call), but this will slow the process and leaves a hint of uncertainty. We think that this point could be improved, anyway it’s just a minor issue.

 

Is ACE Cash Express legit?

The company operates for more than forty years and commits to righteous lending practices, which is proven by past and current customers’ experience. While it’s not accredited by the Better Business Bureau, it still receives an A+ mark of it: in essence, this lender has a top-notch ability to deal with potential customer complaints. Most importantly, ACE Cash Express is a member of the Financial Services Centers of America, which is a guarantee of fairness and legitimacy.

Nonetheless, the lender is engaged in donations towards primary education and supporting financial learning, through the ACE Community Funds corporate giving program.

There is full transparency about rates and conditions of the loan, that will be visible in your contract, so no hidden fees have to be expected. As for the safety of your data on the website, the site uses cutting-edge technology ensuring the data are encrypted, and the privacy policy clearly declares how they are treated: they will be for conducting the business and for marketing purposes, but you can choose for what.

 

How is ACE Cash Express rated?

Lots of words have been spent on this company: on Trustpilot, there are more than 10,500 reviews and the vast majority of them are positive, totaling a 4.5/5 stars score. In general, the service from this lender is perceived as efficient and fast, and the ease of getting the needed money seems to be the greatest value. The few complaints are mostly about high rates, but this is true all-time with payday lenders; some other people got upset because unable to be approved, or even to repay, which are also evergreen scenarios.

We also find more than 300 reviews on the Consumer Affairs portal: in contrast to Trustpilot, here there is a merger of negative feedbacks of various kinds: these still equal to a minority of total, but perhaps it’ll be worth considering what they have to say or to just follow the majority and meet the urgency.

 

How does the application work?

The required information to fill the loan application is little, and it will be easy to complete it. If you submit it online, the most important information needed is the following:

-Age

-Social security number

-Bank account credentials for deposit

-Current (or predicted) income.

Instead, if you apply directly at an ACE Cash Express store, you must provide an ID, along with proofs of a checking account, and of income.

Your financial status and where you live will be the major determinants of your loan conditions. There may be a hard credit check, reporting to major bureaus such as Equifax and TransUnion.

If successful, you will receive detailed documentation to agree with, which must be read carefully: there won’t be any obligation until you sign the loan contract. Disbursement should occur the same day, also depending on your bank processing capacity, and is generally faster when turning to physical stores. However, submitting online will avoid potential queues.

As a reminder, there is also the chance to revoke the loan if done within 72 hours from your notification of approval. It will suffice an email notice, or reaching the company by phone, or even going in-store.

Repayments can be done either through your online account or at a store of choice regardless of the fact you started the loan on the website.

 

Bottomline

ACE Cash Express is one of the big names in the background of payday loans. It is a reliable lender with great customer service, providing easy and quick solutions to finance your needs. With higher loan limit amounts in some states, you can cover an urgent and substantial expense in a narrow timeline.

However, ACE Cash Express operates only in some states, so you want first to check if it’s available in your’s. As with payday loans in general, expect steep interest rates, especially if you borrow big amounts, so you should be very careful of your loan affordability: you just won’t find the best deal with the largest sums borrowable.

Payday loans are convenient, but not meant to be a long-term solution, and may turn really expensive if you need a meaty loan. Check also our other advised lenders to find the one that fits best your priorities.