Lender
Rating by Finanso®
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2.8
(20 Ratings)

Cash Central

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About Lender

Cash Central is recognized for its reliability in the online lending marketplace, offering secure and state-licensed lending services. The company ensures the safety and confidentiality of its clients through rigorous adherence to state regulations, safeguarding personal information with 24/7 online convenience. Customers can apply for loans at any time from the privacy of their own home, knowing they are protected by state law, which highlights Cash Central's commitment to security and reliability.

Cash Central offers a range of loan products including payday loans and installment loans, tailored to meet the immediate financial needs of its customers. These loans are designed to help bridge the gap between paychecks or to provide financial assistance during unexpected emergencies. The availability of these products is subject to state regulations, eligibility, credit check, underwriting and approval, ensuring that the loans are provided in a responsible and legal manner.

To obtain a loan from Cash Central, customers must meet specific conditions and requirements, which vary depending on the state and the type of loan product requested. Generally, applicants must pass a credit check, meet state database eligibility (where required) and approval processes. Some applications may require additional verification, which can delay the lending decision. The company also adheres to the USA PATRIOT Act, requiring all financial institutions to obtain, verify, and record information that identifies each person who opens an account, further emphasizing Cash Central's dedication to compliance and customer safety.

Key Features

  1. Payday Loans. Cash Central payday loans are short-term loans that are typically due on the borrower's next payday. These loans are meant to be a quick fix for unexpected expenses, such as medical bills or car repairs. Cash Central offers payday loans in amounts ranging from $100 to $1,000, depending on the borrower's income and other factors.

  2. Installment Loans. These loans are ideal for customers who need to borrow larger amounts of money or who need more time to repay the loan. Cash Central's installment loans are available in amounts ranging from $300 to $5,000, and repayment terms can range from 6 months to 24 months.

  3. Available State. Installment loans from Cash Central are currently available only in selected states, including Alabama (AL), Delaware (DE), Idaho (ID), Missouri (MO), South Carolina (SC), Utah (UT), and Wisconsin (WI).

  4. Fast Funding. If approved, borrowers can receive their loan funds as soon as the next business day, depending on the time of application and the funding method chosen.

  5. Repayment Options. Cash Central offers various repayment options to borrowers, including paying the loan off in full on the due date or making partial payments to extend the loan term.

  6. No Prepayment Penalty. Borrowers can pay off their loans early without facing any prepayment penalties.

  7. Security and Privacy. Cash Central takes the security and privacy of its customers seriously, using advanced encryption technology to protect personal and financial information.

  8. Customer Service. Cash Central has a customer service team that is available by phone or email to help borrowers with any questions or concerns they may have.

Pros and Cons

Pros

Quick Funding. Cash Central typically approves loans quickly and can provide funds as soon as the next business day, which can be helpful for those who need money urgently.

Easy Application Process. The application process for Cash Central loans is simple and can be completed online. Borrowers can also receive assistance from customer service representatives if needed.

Flexible Loan Options. Cash Central offers a variety of loan options, including payday loans, installment loans, and lines of credit, which can give borrowers more flexibility in finding a loan that suits their needs.

Good Customer Service. Cash Central has a reputation for providing good customer service and being responsive to borrower needs and concerns.

Cons

High Interest Rates. Cash Central loans can come with high interest rates, which can make borrowing expensive for some borrowers.

Short Repayment Periods. Cash Central loans typically have short repayment periods, which can make it difficult for some borrowers to repay their loans in full on time.

Limited Availability. Cash Central operates in only a limited number of states, which may make it unavailable to some potential borrowers.

Risk of the Debt Cycle. As with any short-term loan, there is a risk of borrowers falling into a debt cycle if they are unable to repay their loans on time, which can lead to additional fees and financial strain.

Reliability

  1. State-Licensed and Registered. Cash Central is a state-licensed and registered lender, ensuring its services are in full compliance with legal standards and regulations. This licensing guarantees that the company operates within the strict guidelines set by state authorities, providing a layer of security and trustworthiness.

  2. Secure and Confidential. The company prioritizes the security and confidentiality of its customers' information. With 24/7 online convenience, customers can safely apply for loans from the privacy of their own homes, knowing their personal data is protected.

  3. Compliance with USA PATRIOT Act. Cash Central complies with the USA PATRIOT Act, a federal law that requires financial institutions to obtain, verify, and record information identifying each person who opens an account. This compliance ensures that all customer interactions and transactions are conducted with a high level of security and legitimacy.

  4. Adherence to State Regulations. By adhering to state regulations, Cash Central demonstrates its commitment to providing reliable and legal lending services. This adherence ensures that all loan products offered by the company meet the legal requirements and consumer protection standards of each state.

  5. Transparent Lending Practices. Cash Central's commitment to transparency in its lending practices further establishes its reliability. The company provides clear information on loan products, terms, and conditions, allowing customers to make informed financial decisions without facing hidden fees or surprises.

  6. Customer Verification Processes. The thorough verification processes required by Cash Central for loan approval, including credit checks and identity verification, contribute to the company's reliability. These processes ensure that loans are offered responsibly and to eligible individuals.

  7. Customer Support and Privacy Notices. Cash Central offers updated privacy notices and responsive customer support, ensuring that customers are well-informed about their privacy rights and have access to assistance whenever needed. This commitment to customer service and privacy protection reinforces the company's reliability.

How to Apply for a Cash Central Loan?

Apply for a Loan

  1. Visit Website. Start by navigating to the Cash Central website. If you're new to Cash Central, click on the "Apply Now" button. This will direct you to the application process for new customers.

  2. Fill Out Application. You will be required to fill out an application form with your personal, employment, and financial information. This includes your name, address, date of birth, and other details necessary for identification and loan assessment.

  3. Credit Check and Verification. Cash Central will perform a credit check and verify your information to ensure you meet the eligibility criteria. This process is subject to state regulations and may require additional verification, which can delay the lending decision.

  4. Submit Application. Once you have completed the application and reviewed all the necessary information, submit your application for review.

  5. Wait for Approval. Approval times may vary. Cash Central will notify you of your application status. Some applications may require additional verification, affecting the time to receive a decision.

  6. Receive Funds. If approved, you will receive the loan funds directly on your bank account.

Conditions and Requirements

Conditions

  1. Loan Amount. For payday loans, the possible loan amount ranges from $100 to $1000, with the maximum amount depending on the state. Installment loans are available for amounts up to $5000.

  2. Interest Rates. The APR ranges from 153.73% to 611.14% and is determined based on the state, creditworthiness, and loan amount.

  3. Applicable Fees. The company imposes a finance charge ranging from $30 to $75. The specific amount depends on the state.

  4. Use of Loans. Loans are intended for short-term financial needs only and not as a long-term financial solution. Borrowers with credit difficulties should seek credit counseling.

  5. Rate and Fee Transparency. Cash Central provides a clear rate and fee schedule for each state of residence, ensuring borrowers understand the costs associated with their loan.

Requirements

  1. Age Requirement. The minimum age to apply varies by state, with most requiring applicants to be at least 18 years old, except in Alabama where the minimum age is 19.

  2. Credit Check and Underwriting Approval. Subject to a credit check, underwriting, and approval. This process also includes meeting state database eligibility where required.

  3. Documentation for Identification. In compliance with the USA PATRIOT Act, applicants must provide their name, address, date of birth, and other information for identity verification. Additional documentation may be required as proof of identification.

  4. Residency. Applicants must select their state of residence from the provided map to determine the specific products offered and the applicable rates and fees.

  5. Financial Information. Applicants must provide employment and financial information to determine their eligibility for the loan amount requested.

Ways to Receive the Money

The loan proceeds with Cash Central payday online loans are deposited directly to your checking bank account the same day you are approved for the loan. You will need to provide your bank account information to receive money. If the loan request is made and accepted by 7:45 pm EST, your loan amount will be deposited the next business day. If you submit the loan request on Friday or Sunday before 7:45 pm EST, the funds will be deposited the following Monday. In case you submit the request after 7:45 pm EST on Saturday, your funds will be deposited the following Tuesday.

Products

  1. Online Payday Loans. These are small-dollar, short-term loans designed to cover urgent expenses until your next payday. Payday loans, also known as cash advances, are typically repaid in full on your next payday. They are used to bridge the financial gap caused by unexpected expenses.

  2. Online Installment Loans. Compared to payday loans, installment loans are available in larger amounts and have a longer repayment period. You receive a specific dollar amount and then make regular payments over time to pay back the loan, typically ranging from six to twenty-four months. Installment loans are suitable when you need more funds than a payday loan can provide, allowing for a more extended repayment schedule.

Other Loans

Reasons for Loan Refusal

Check Credit Score

Loan applications may be refused for various reasons based on the conditions and requirements outlined by Cash Central. Firstly, if the applicant's creditworthiness does not meet the criteria for the determined APR range, the loan might be refused. On the requirements side, if the applicant does not meet the minimum age requirement for their state or fails to pass the credit check and underwriting approval process, their application may be refused. Furthermore, incomplete or insufficient documentation for identification or residency could lead to denial. Finally, if the applicant's financial information does not meet the eligibility criteria for the requested loan amount, their application may not be approved.

How to Repay a Cash Central Loan?

Repay

To repay a Cash Central payday loan, the total amount due is electronically withdrawn from your checking account on the due date. This process ensures a seamless repayment experience for borrowers. For alternative repayment options or inquiries, borrowers are encouraged to contact Cash Central directly. Similarly, for installment loans, repayment occurs via electronic withdrawal from the checking account on the due date if the loan is current.

Loans like Cash Central

CashNetUSA

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CashNetUSA has been a trusted source for swift financial assistance during emergencies since 2004. If you need a $500 – $1,000 online loan, look no further, as CashNetUSA may have the solution you seek. Their fast funding options enable them to address unexpected expenses that require immediate attention. Whether it's a medical emergency, car repair, or any unforeseen financial setback, CashNetUSA is dedicated to providing timely support.CashNetUSA

Speedy Cash

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Speedy Cash is a prominent financial institution catering to the urgent financial needs of residents in 27 states. With a diverse array of services, the company specializes in offering payday loans alongside various other types of loans. Whether customers require a small sum of $50 or seek more significant assistance with larger expenses, Speedy Cash is ready to address their financial requirements promptly with up to $1,500 payday loans. One of the key advantages of Speedy Cash is its remarkably swift turnaround time, with loan applications being processed and approved within just one day, ensuring that individuals can access the funds they need without unnecessary delays.Speedy Cash

Cash Store

Apply For a Loan

At the Cash Store, customers can now access installment loans up to $3000, providing them with a practical solution for financial needs. With a fixed APR personal loan product that spans from 390% APR up to 780% APR, individuals can secure the funds they require while knowing exactly what to expect in terms of interest rates. The rates may vary depending on the state, ensuring customers are presented with options tailored to their specific location.Cash Store

Ace Cash Express

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Ace Cash Express is a reputable financial services company that provides installment loans in several states, catering to individuals facing emergencies or unforeseen expenses. In Delaware, borrowers can access up to $2,000; in Florida, Missouri, and Texas, loan amounts range from $100 to $2,000. This flexible loan offering ensures that customers can obtain the necessary funds swiftly and conveniently. Whether it's a medical emergency, urgent car repairs, or any unexpected financial burden, Ace Cash Express aims to offer a reliable solution to its clients in times of need.Ace Cash Express

Check Into Cash

Apply For a Loan

Check Into Cash is a reputable financial service provider that offers Installment Loans. These loans allow individuals to borrow a certain amount of money, typically ranging from $50 to $5,000, depending on the laws of their state. The maximum loan amount varies from one state to another, ensuring compliance with local regulations. With Check Into Cash, borrowers can access the funds they need to cover unexpected expenses or manage financial challenges.Check Into Cash

Approved Cash

Apply For a Loan

Approved Cash is a trusted financial institution specializing in offering payday loans and cash advance services, catering to individuals needing immediate financial assistance. Whether you're facing unexpected expenses or find yourself short on funds, Approved Cash is here to provide the solution you need today. Applying for their loans is straightforward, ensuring quick access to the required funds.Approved Cash

Editorial Opinion

Cash Central emerges as a one from many others payday lenders in the online lending landscape, offering a lifeline to those in immediate financial need through its array of loan products, including payday and installment loans. What sets Cash Central apart is its commitment to transparency, reliability, and convenience, ensuring that borrowers are well-informed about the terms and costs associated with their loans. This approach not only fosters trust but also empowers customers to make informed financial decisions. By adhering to state regulations and providing a secure online platform, Cash Central demonstrates its dedication to customer safety and satisfaction. However, as with all short-term loans, the responsibility lies with the borrower to assess their financial situation and the sustainability of such options. Cash Central's services, when used judiciously, can provide a practical solution for bridging financial gaps, underscoring the importance of responsible borrowing in today's economic environment.

Important

Keeping your Debt-to-Income (DTI) ratio below 30-40% of your monthly income is crucial. This will help you avoid potential financial problems in the future. Additionally, always assess the necessity and feasibility of taking a loan, ensuring you can comfortably manage its repayment.

How to Choose a Lender

  1. 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.

  2. 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.

  3. Carefully review all the terms and conditions of your payday loan contract.

  4. Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.

  5. 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.

  6. Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.

Methodology

At Finanso, we've carried out a comprehensive analysis of over 100 lenders, assessing them based on 35 different parameters across six key categories: accessibility of loans, customer relations, quality of service, interest rates, and transparency of conditions.

In each category, we carefully considered the most critical factors in selecting a lender. These factors include the interest rates, available loan amounts, minimum credit score, minimum income, application fees, and the speed at which funds are transferred.

At Finanso, we highly value our users, which is why we also focus on the quality of customer service, user reviews, and additional features that can aid our users in making a well-informed decision.

Our ultimate goal is to provide insightful recommendations and expert advice to assist you in selecting a lender that best caters to your specific needs.

Additional Resources

Sources

FAQ

What is Cash Central?

Cash Central is a company in the United States that provides personal loans and operates on an e-commerce site. These are payday loans, title loans, installment loans, and credit lines. Receiving a quick cash loan is possible instantly. The loan amount in installments can be different, from $300 to $5,000. The borrower undertakes to make regular payments for up to 24 months.

How much interest does Cash Central charge?

A number of different factors affect the amount of interest you pay on a Cash Central loan in installments. Firstly, the state in which you live matters. States in the US have their own laws regarding lending. In addition, your overall credit score, history, and profile play an important role in compiling your APR rates. APRs usually range from 153.73% to 611.14%. The state you belong to determines whether you will pay the origination fee. However, everyone pays the commission for late payments.

Is Cash Central trustworthy?

Yes, Cash Central is a legitimate American company licensed in several states. It is for this reason that rates, conditions, loan amounts, and refinancing policies may vary depending on which state you live in. This online lender has a membership in INFiN, a financial services alliance whose practices are recognized as the best in the industry.

Is Check Into Cash and Cash Central the same company?

Check Into Cash and Cash Central are not the same company, but they are both payday loan lenders.

Check Into Cash is a privately-owned company founded in 1993 and based in Cleveland, Tennessee. They offer various financial services, including payday loans, installment loans, and title loans, as well as other services like check cashing, Western Union money transfers, and prepaid debit cards. Check Into Cash has over 800 locations across the United States.

Cash Central is also a privately-owned payday loan lender, but it was founded in 2005 and is based in North Logan, Utah. They offer payday loans, installment loans, and lines of credit. Cash Central is licensed to lend money in 23 states and has an online platform where customers can apply for loans and manage their accounts.

How do I cancel my Cash Central loan?

To cancel your Cash Central loan, you should contact their customer service department as soon as possible. You can reach them by phone at 1-800-460-4305 or by email at Customer Service.

When you contact customer service, provide them with your loan information, including your loan number and the amount of the loan. Let them know that you want to cancel the loan and ask about the cancellation process. They may require you to provide additional information or documentation to cancel the loan.

Company documents

Privacy Policy
Terms Of Use

With almost half a million payday and installment loan customers, let us show you how Cash Central can help your financial situation.

© Direct Financial Solutions LLC
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
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300
650
1000
300.00 – 5000.00 $
Rate
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Effective interest rate on the product

153.73 – 611.14 %
Term
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Loan term for the financial product

6 months – 2 years
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

2.81
(20 Ratings)
Recommended FinScore™
0
300
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1000
100.00 – 2000.00 $
Rate
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Effective interest rate on the product

to 739.99 %
Term
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Loan term for the financial product

4 days – 2 months
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4.25
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All Cash Central’s reviews by april 2024
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1.8
Disadvantages
I applied for a loan, but my application was denied with no explanation. I'm deeply disappointed with how I was treated in this situation.
Complain
1.8
Disadvantages
I arranged the payment schedule as instructed by the company to ensure they received their funds. However, Cash Central ended up withdrawing the money twice, resulting in overdraft fees for me. This experience has been highly frustrating and disappointing.
Complain
1.8
Disadvantages
I received a phone call where they requested to verify information. It's important to note that we have absolutely no affiliation or relationship with this company.
Complain
2
Disadvantages
I obtained a $300 loan from them, and I've been diligent about making every payment on time. I'm perplexed as to why they continue to deduct money from my account, even though I've repaid the original loan amount and more.
Complain
2.6
Disadvantages
Cash Central is an awful service. Dealing with their customer service is an incredibly frustrating experience. I wouldn't suggest this service to anyone; it seems exploitative, especially with its high-interest rates. You're better off seeking an alternative option, as going to a loan shark might be a more favorable choice.
Complain
2.6
Disadvantages
I was granted approval for a loan, but I declined to provide my personal bank information, login credentials, and password, even though they assured me that it would remain confidential. I indicated my reluctance to share such information, and they responded by asking why I wouldn't do so, to which I explained my concern about privacy. They promised my loan would be available on Monday, but regrettably, I never received it. This experience was quite disappointing.
Complain
2.6
Disadvantages
They deposited a fraudulent check into my account, which led to me having to close down my account, request new cards, and make various adjustments. Furthermore, I received intimidating text messages from them, warning of the possibility of charging me double the amount they had initially deposited into my account. This experience left me extremely disappointed, especially because I needed the money urgently for rent due to an emergency situation.
Complain
4.8
Advantages
Cash Central does have relatively high costs associated with their loans, which is somewhat expected for small, short-term loans. I've used their service on one occasion. The application process and loan terms are straightforward and easy to understand.
Complain
2
Disadvantages
The service was extremely poor. They asserted that the loan amount had been sent to my bank, but in reality, it was never transferred. Upon calling Cash Central again today, they mentioned that they had received the funds back. To my surprise, I discovered that on one of my documents, someone had input incorrect account and routing numbers. I can confirm that those numbers were entered by someone other than me. However, they insisted that I must have made the error in typing those numbers. As a result of this frustrating experience, I decided to cancel the loan. My strong recommendation is to steer clear of obtaining a loan from them!
Complain
1.8
Disadvantages
My experience with Cash Central following my loan application yesterday was nothing short of a nightmare. After receiving approval at 1:30 pm, the company proceeded to hound me for additional information, including bank statements, ID, and verification, throughout the day, finally concluding at 10 pm. To my shock, I woke up today to discover an email notifying me that they were deducting a payment from my bank for a loan I had not even received! This is absolutely outrageous! I promptly contacted my bank and froze all my accounts because I have lost trust in Cash Central. Dealing with them has turned out to be the worst decision I've ever made.
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Overall company rating
2.8
/ 5
20 reviews
Execution of an application
2.8
Support service
3.1
Mobile app
2.6
Service quality
2.9
Your satisfaction level
2.8
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