To apply for an Advance America loan, visit their website and click "Apply now" to access the application page. Fill out the form with your personal and financial details, then electronically sign it. If approved, you can receive your cash the same day or the next business day. Loan terms and amounts vary by state, with terms up to 24 months in Alabama and 12 months in Ohio, and loan amounts ranging from $255 in California to $3,000 in Alabama. The APR can be as high as 688.28%. Ensure you meet the requirements, including being at least 18 years old, having a valid checking account, and providing proof of income and identity.
How to Apply for an Advance America Loan
Visit the Advance America Website. Go to the Advance America website. Look for and click the "Apply now" option. This will take you to the loan application page.
Fill Out the Application Form. On the application page, you'll need to fill in your personal and financial information. This includes your name, address, employment details, and banking information. Make sure all information is accurate to avoid delays.
Electronically Sign Your Application. Once you have completed the form, you will need to electronically sign your application. This step confirms that all the information provided is correct and that you agree to the loan terms and conditions.
Receive Your Loan Decision. After submitting your application, Advance America will review your information. If you are approved for a loan, you will receive a notification. The decision is usually quick.
Get Your Cash. If approved, you can receive your cash the same day or the next business day. The funds will be deposited directly into your bank account.
Conditions
Loan Term. The loan term can vary depending on the state. In Alabama, the loan term can be up to 24 months. In Ohio, the loan term can be up to 12 months.
Annual Percentage Rate (APR). The APR for Advance America loans can be quite high, with rates up to 688.28%. It's crucial to understand the cost of borrowing and how it will affect your repayments.
Loan Amount. The amount you can borrow also varies by state. In Alabama, you can borrow up to $3,000. In California, the maximum loan amount is $255. In Texas, you can borrow up to $2,500. In Ohio, the loan amount can be up to $1,000. In Michgan, loan amounts go up to $600 for payday loans and up to $25,000 for title loans.
Requirements
Age Requirement. You must be at least 18 years of age to apply for a loan.
Checking Account. You need to have a valid checking account.
Proof of Income and Identity. Be prepared to provide documentation that verifies your income and identity. You will need to provide a government-issued ID with a photo (driver's license, passport, etc.), your Social Security number, income documentation such as a pay stub, benefits letter, or direct deposit note, and evidence of a current checking account, such as a bank account statement.
Reasons for Rejection
Insufficient Credit Score. Your credit score does not meet Advance America's minimum credit underwriting requirements.
Inadequate Credit History. Limited or no credit history can make it difficult for Advance America to assess your creditworthiness.
High Debt-to-Income Ratio. A high ratio of debt to income indicates that you might have difficulty managing additional loan payments.
Unverifiable Information. Inability to verify the personal, employment, or income information provided in your application.
Employment Status. Lack of stable employment or a verifiable source of regular income.
Does using Advance America hurt your credit score?
A cash advance has no direct impact on your credit score, and your credit history will not show that you borrowed one. The cash advance balance will be added to your credit card debt, hurting your credit score if you have a high credit use ratio.
How long does it take Advance America to approve a loan?
If you apply for a loan at the store and are accepted, you might have cash in 15 minutes on the same visit. If you apply online, the money may be put into your account the same or the following working day.
Is Advance America good for debt consolidation?
No, it's better to look for a lender with lower rates and more flexible payments.
