Applying for a 1st Choice Money Center loan is a straightforward process. You can apply online by providing basic personal information, such as your name, Social Security number, and employment details. Loan amounts can go up to $5,000, and approval depends on meeting requirements like a minimum net monthly income of $1,200, having a stable job for at least two months, and maintaining a bank account with no excessive negative balance. The loan term and interest rate will vary based on the product and your preferences.
How to Apply for a 1st Choice Money Center Loan
-
Visit the Website. Go to the official 1st Choice Money Center website.
-
Click "Apply Now". On the homepage, click the "Apply Now" button to begin the application process.
-
Select Your State. Choose your state from the provided options to ensure you are eligible to apply.
-
Enter Personal Information. Fill in your name, email, Social Security number (SSN), phone number, driver’s license, date of birth, and address.
-
Provide Landlord Information. Enter your landlord's name and phone number for verification purposes.
-
Create Login Credentials. Create a username and password that you will use to log in and manage your account after the application.
Conditions
APR Range. The Annual Percentage Rate (APR) for loans ranges from 200% to 550%, depending on the loan type and other factors.
Loan Amounts. Customers can borrow up to $5,000, based on their financial situation and loan qualifications.
Loan Terms. The loan terms can vary from a few weeks to several months, allowing customers flexibility in repayment depending on the loan product and their preferences.
Requirements
Bank Account Balance. Your bank account should not have a negative balance greater than $100.
Employment Duration. You must have been employed for at least the last two months.
Loan Activity. You should not have opened more than one new loan in the last 30 days.
Income. You need a net monthly income of at least $1,200.
Age and Residency. Applicants must meet the legal age and residency requirements for their state.
Reasons for Rejection
Insufficient Income. If your annual income is below the required minimum, your application may be rejected due to an inability to meet the repayment obligations.
Lack Of Required Documentation. Failure to provide necessary documents, such as a copy of your paycheck stub, can result in your application being denied.
No Bank Account Or Credit Card. Not having a bank account or credit card as an alternative payment method can lead to rejection since it is a mandatory requirement.
Employment Verification Issues. Inaccurate or unverifiable employment information, such as discrepancies in your employer's details or job title, can cause your application to be rejected.
Age Restriction. Applicants under the age of 18 are not eligible for the program, and any application from individuals below this age will be automatically rejected.
