About Lender
Amscot is a lending company that offers many financial services to its customers including check cashing, money orders, cash advances, bill pay and small dollar loans. They want to be the solution for all your financial needs so you can manage all your finances in one place. With Amscot you can get and load the Azulos® Prepaid MasterCard®, a flexible option for everyday transactions.
In addition to lending services Amscot has facilities to send wire money, fax documents, make copies, buy stamps and access safe and low fee ATMs. Their full range of services makes them a one stop shop for all your financial needs, convenience and customer accessibility.
Key Features
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Check Cashing. Amscot cashes personal, payroll and government checks.
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Money Orders. Amscot sells money orders for customers who need to make a payment or send money.
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Bill Pay. Amscot pays utility, credit card and other bills.
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Short-term Loans. Amscot offers short-term loans, Amscot Cash Advances, for when you need cash fast.
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Prepaid Debit Cards. Amscot offers prepaid debit cards for customers who want a convenient and secure way to manage their money.
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Money Transfers. Amscot sends money to friends and family.
Pros and Cons
Pros
Many Services. Amscot offers many financial services for those in need of quick cash.
No Credit Check. Amscot doesn’t do credit checks which is good for those with bad credit looking for a cash advance.
Friendly Service. Some customers have reported friendly and patient service at Amscot.
Cons
Customer Service. Some customers have reported long wait times, unprofessional behavior and disorganization from staff.
Privacy. Some customers felt uncomfortable with how their personal information was handled in-store.
Verification. Some customers were not happy with Amscot’s verification process, especially the requirement of a Social Security number.
Payday Loan Repayment. Customers found the repayment structure for payday loans to be difficult, especially having to pay the full amount all at once.
Reliability
BBB and Trustpilot Ratings. Amscot has an A+ rating from the Better Business Bureau (BBB) and high ratings on Trustpilot from customers.
Physical Presence. With over 240 locations Amscot has a big physical presence which is a sign of reliability. And the company has been around for over 30 years so that’s another sign of reliability and trustworthiness.
Lending Practices. Amscot is a responsible lender. They offer payday loans and cash advances with no credit checks which is good for those with bad credit.
Account Activity Reporting. Amscot reports account activity to the 3 major credit bureaus (Equifax, Experian and TransUnion) which is standard practice among reputable financial institutions to help customers build credit if used responsibly.
How to Apply For an Amscot Loan?
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Visit the Website. Go to the Amscot website.
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Get Started. Click Get Started Now and select your location and answer a few questions.
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Wait for a Call. An Amscot Associate will call you within 20 minutes to answer any questions before you come to the branch.
Conditions and Requirements
Conditions
Installment Cash Advance. Borrowers can get a loan from $100 to $1,000. Loan term is up to 85 days so you have more time to pay back the loan. Borrowers can start the application process online by selecting a branch and answering a few questions. An Amscot Associate will call you within 20 minutes to discuss further steps before you come to the branch to finalize the loan.
Cash Advance. Borrowers can get a loan from $100 to $500. Loan term is up to 14 days which is usually your next payday. Same as Installment Cash Advance, you can start the application process online. After you complete the online pre-application an Amscot Associate will call you to discuss further steps before you come to the branch to complete the application and get the cash.
Requirements
Age. 18 years of age or older.
ID. Valid government issued photo ID.
Phone Number. Contact phone number.
Account. Active checking account with account information (check or routing and account number).
Income. Proof of income (most recent pay stub, direct deposit notice or bank statement.
Ways to Receive the Money
Applicants go to an Amscot branch and fill out a short application. Once signed the applicant gets the cash. The process can also be started online by selecting a branch and answering a few questions. An Amscot Associate will call you within 20 minutes to discuss further steps before you come to the branch.
Products
Installment Cash Advance .Installment Cash Advance at Amscot gets you a loan from $100 to $1,000 with a 85 day repayment term. The process starts online where you select a branch and answer a few questions. After that an Amscot Associate will call you within 20 minutes to discuss further steps. You then go to the branch to complete the application and upon approval get the cash.
Cash Advance .Cash Advance at Amscot gets you a loan from $100 to $500 with a 14 day repayment term, usually your next payday. The process is similar to the Installment Cash Advance where you can start the application online through a pre-application. After that an Amscot Associate will call you to discuss further steps. You then go to the branch to complete the application and upon approval get the cash.
The Azulos® Prepaid MasterCard® .The Azulos® Prepaid MasterCard® from Amscot has a suite of features designed for easy money management. No credit check is required and no minimum balance is needed to maintain the account. The card is reloadable at Amscot branches or at over 130,000 Netspend Reload Locations so you have flexibility in adding funds. For easy management the Azulos Mobile App is available with Anytime Alerts™ to keep you updated on transactions. Also, Direct Deposit is available to get your payroll or government benefits up to 2 days faster. The card has no credit check and no minimum balance requirements for both types of accounts. For Azulos Plus Account holders an Optional Debit Card Overdraft Service is available. Azulos Plus Account has a monthly fee of $5.00 and Azulos Prepaid Mastercard has $1.50 per transaction or $5.95 monthly fee. Amscot has an account comparison tool on their website to help you compare Azulos Plus and Azulos Prepaid Card and choose the account that fits your needs.
Other Personal Loans
Reasons for Loan Refusal
Amscot does not do credit checks. Some reasons could be no proof of income, can’t provide required documents like a government-issued photo ID, or don’t have an active checking account. If you already have a cash advance with Amscot or another provider you need to pay off or close the existing cash advance before you can get a new one (Florida law).
How to Repay an Amscot Loan?
To pay back an Amscot loan you go back to the Amscot branch and pay back the loan amount plus fees on your next payday. If you can’t pay on time you may be eligible for a Grace Period or under certain conditions an Extended Payment Plan for a Cash Advance or defer a payment for an Installment Cash Advance.
OppLoans is a notable financial service provider that offers consumer loans varying from $500 to $4,000. They expedite the funding process to ensure that approved applicants receive the necessary funds promptly, which is advantageous for those dealing with immediate financial concerns. OppLoans offers adaptable repayment conditions, giving customers the choice between 9, 12, and 18-month loan terms. This adaptability allows borrowers to opt for a repayment plan that matches their financial ability, ensuring a seamless and manageable loan journey. RISE Credit is a reliable online lender that provides loans up to $5,000. They have a streamlined application procedure, allowing borrowers to have funds transferred to their accounts as early as the next business day. They present the flexibility of choosing a payment schedule that fits with the financial preferences of the customers, although some state-based restrictions might apply. A notable feature of RISE Credit is its 5-Day Risk-Free Guarantee, which permits borrowers to revoke their loan and return the principal with zero fees or interest within the given period. Additionally, RISE Credit grants customers complimentary access to their credit score and credit monitoring alerts through Credit Score Plus, offering valuable financial insight. OneMain Financial stands as a distinguished and enduring lender, offering personal loans that range between $1,500 to $20,000. Boasting a century’s worth of experience in the financial sector, they have garnered the trust of a vast customer base. Their loan terms include fixed rates and fixed payments, offering a predictable and manageable repayment scenario to borrowers. OneMain Financial emphasizes personalized service, ensuring that the distinct needs of each customer are addressed. With a widespread network of approximately 1,400 branches, they provide easy access and convenience for individuals in search of financial aid. Universal Credit requires applicants to have a minimum credit score of 560, thus excluding those with no credit history. It is appealing for its credit-enhancement features, making it suitable for individuals with fair or poor credit looking to better their scores. Providing larger loan amounts than Oportun and next-day funding upon approval, it emerges as a solid choice for significant, urgent financial needs. Universal Credit extends its loan services across all 50 states and Washington, D.C., offering a wide geographical coverage.Loans like Amscot
OppLoans
Rise Credit
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Editorial Opinion
Make sure to confirm whether the lender is licensed to operate in your state. You can verify this information with your state regulator or attorney general. Check if the lender is a member of a reputable association, such as the Community Financial Services Association of America. Membership in such organizations may provide an extra level of reliability. Carefully review all the terms and conditions of your payday loan contract. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan. Take advantage of your right of rescission. Usually, you can rescind the loan within three days after signing the agreement. Alternatively, there is typically a "cooling-off" period, which allows you several days to thoroughly review the contract before making an informed decision to enter into a consumer loan agreement based on the terms specified by the lender. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.Important
How to Choose a Lender
Additional Resources
- How to Apply for an Amscot Loan
- How to Repay an Amscot Loan
- Amscot Mobile App
- Amscot Reviews
- All Amscot Coupons and Promo for January 2025
- Amscot Loans for January 2025
