About Lender
Check Into Cash is a financial services company serving the United States. Founded in 1993 by W. Allan Jones with one store in Cleveland, TN. Today they have over 300 locations in 19 states.
Check Into Cash’s main service is a payday loan. Payday loans are short term loans to help customers cover unexpected expenses or bills. These loans are due on the customer’s next payday and the amount of the loan is based on the customer’s income and other factors. Customers can choose online payday loans or in-store cash advances.
While Check Into Cash provides a service to customers who need access to short term funds, payday loans can be expensive and trap customers in debt cycles. The interest rates on these loans are high and many customers can’t pay back the loan on time so additional fees and charges apply.
Key Features
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Payday Loans. Check Into Cash is most known for its payday loans which provides customers with short term cash advances to help cover unexpected expenses until their next payday.
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Money Transfers. Customers can send and receive domestic and international money transfers.
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Online Services. The company offers online services to apply for loans, manage accounts and make payments.
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Multiple Locations. Borrowers can choose from over 800 locations in 28 states so it’s convenient to get to a location.
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Fast Funding. Customers who are approved for a payday loan can get their funds as soon as the same day depending on the time of application and approval.
Pros and Cons
Pros
Multiple Loan Products. Offers Payday Loans, Installment Loans, Title Loans and Flex Lines of Credit.
Quick and Easy Application. Website promotes an easy application process that can be done online or in-store and approvals in minutes.
Cash in Hand. Once approved customers can leave the store with cash in hand so immediate access to funds for emergencies or urgent needs.
Multiple Locations. With over 300 locations in 19 states it’s easy to find a location near you so that’s more convenient.
Other Financial Services. Check into Cash offers other financial services like check cashing, Western Union money transfers, selling of gift cards and more.
Cons
High Interest Rates. Payday loans from Check Into Cash can be expensive with interest rates over 400% APR so it’s not cheap to borrow.
Debt Cycle. The ease of short term loans can trap customers in debt if loans are rolled over or borrowed continuously.
Limited Availability. Services are only available in certain states.
Physical Store Visit. While the application can be started online the process often requires a store visit to complete which may not be convenient for everyone.
Extra Verification. Website says some applications may require extra verification which can delay the lending decision and access to funds.
Reliability
Age. Check Into Cash has been in business for over 25 years so it has a proven track record.
Nationwide. With over 300 locations in the US Check Into Cash has a big presence.
CFSA Member. Being a member of the Community Financial Services Association of America (CFSA) means it follows industry best practices so high service standards for customers.
How to Apply for a Check Into Cash Loan?
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Visit Website. Search Check Into Cash using your browser and go to the official site.
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Choose Your Loan. On the general page click on the different types of loans like Payday Loans, Installment Loans, Title Loans and Flex Lines of Credit. Click on the one that fits your needs to learn more.
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Get Started Online. Click on the “Get Started” button for the loan you chose. This will take you to the application.
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Enter Your Information. You will be asked to enter personal information like name, address, phone number and income details. Make sure all information is accurate so no delays.
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Submit Application. Once you’ve filled up all required fields submit your application for review. You may need to create an account if you’re a new customer.
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Wait for Approval. Approval times may vary but Check Into Cash aims to respond fast. You may be approved in minutes.
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Visit a Store (if required). Depending on the loan and your location you may need to visit a Check Into Cash store near you to complete the application. Use the “Find A Store” feature on the website to locate the nearest branch.
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Get Cash. Once approved if you visited a store you can leave with cash in hand. If you applied online for a product that supports direct deposit you can expect the funds to be deposited into your account as per the terms discussed during the application.
Conditions and Requirements
Conditions
Loan Amount. Loan amount for a loan from Check Into Cash is up to $5,000 based on your income and other factors.
Repayment Term. Payday loans from Check Into Cash are due on your next payday which is usually 2 to 4 weeks from the loan date. For installment loans, terms can go up to 12 months.
Interest Rates and Fees. Interest rates and fees for a payday loan from Check Into Cash varies by state but can be high. APRs range from 150% to over 400% depending on the state.
Requirements
Age and Identification. Applicants must be at least 18 years old (or the state’s required age) and able to provide valid ID, SSN or ITIN to prove their identity and age.
Employment and Income Verification. Proof of stable income is required to ensure the borrower has the means to pay back the loan. This can be pay stubs, bank statements or other official documents.
Bank Account. A current checking account is required for both the deposit of the loan funds and the repayment of the loan including the fees and interest.
Credit Check. While some loan products like payday loans don’t require a traditional credit check, others may require a review of your credit history to determine eligibility and terms.
Residency. Applicants must be a resident of the state they are applying for a loan in and must provide proof of residency.
Ways to Receive the Money
There are several ways to get the money if you are approved for a loan from Check Into Cash. Depending on your preference and loan type, you can receive the funds as follows: If you apply in-store, you can get the cash immediately upon approval. If you apply online, Check Into Cash offers a prepaid debit card service where you can load the loan funds onto the card for easy access to make purchases or ATM withdrawals like a regular debit card. For online loans, the funds will be transferred via ACH to your bank account, usually within 1 to 2 business days. Please note to check your bank’s processing time as it may affect the availability of the funds in your account.
Products
Payday Loan. Payday loans are short term loans to cover unexpected expenses or bills. These loans are due on your next payday and the loan amount is based on your income and other factors.
Installment Loan. Check Into Cash also offers installment loans where you can borrow a larger amount of money and repay over a longer period of time.
Title Loan. Title loans are another option from Check Into Cash where you can use your vehicle as collateral for a loan. The loan amount is based on the value of your vehicle.
Check Cashing. You can cash checks at Check Into Cash stores including payroll checks, government checks and personal checks.
Money Transfers. You can use Check Into Cash to send and receive domestic and international money transfers.
Prepaid Debit Cards. Check Into Cash offers Green Dot Visa Debit cards that can be used like a regular debit card for purchases and ATM withdrawals.
Other Personal Loans
Reasons for Loan Refusal
Check Into Cash does not specify the reasons for loan refusal but it’s common across the industry that several factors can lead to loan denial. Some of the common reasons are: not meeting the minimum eligibility criteria such as age or residency, no stable income or employment verification, poor credit history or insufficient credit score, failed identity verification or fraud checks. Non-compliance with state regulations or not meeting specific lender requirements for a particular loan product can also lead to refusal. Applicants should make sure to meet all stated requirements and provide accurate and verifiable information during the application process to increase their chances of approval.
How to Repay a Check Into Cash?
Fees for Check Into Cash vary depending on the loan you choose, the state you live in, your income and your credit history but will all be disclosed in your loan offer paperwork. If you accept, you must pay back the loan principal plus interest by the due date, usually 2 to 4 weeks later. If you are late or miss a payment, you will be charged late fees. The website does not detail all the payment methods but typically, you can pay through automatic bank account deduction, in-store payment or debit card over the phone. This gives you the flexibility to choose the payment method that suits your financial situation to minimize the risk of late payment or defaults. You can contact Check Into Cash directly or visit a local store for more information on specific payment process and options available to you.
Loans like Check Into Cash
OppLoans
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
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
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
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.
Editorial Opinion
Important
How to Choose a Lender
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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.
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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.
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Carefully review all the terms and conditions of your payday loan contract.
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Thoroughly examine the interest rates on payday loans and ensure that your contract includes a detailed breakdown of the total cost of the loan.
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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.
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Choosing a payday lender is a significant decision that demands careful consideration and a good understanding of how such organizations operate.
Additional Resources
- Full Check Into Cash Account Review
- How to Apply for a Check Into Cash Loan
- How to Repay a Check Into Cash Loan
- Check Into Cash Mobile App
- Check Into Cash Customer Reviews
- All Check Into Cash Coupons and Promo for January 2025
- Check Into Cash Loans for January 2025
