About the Lender
Target Cash Now is an online lender that offers short-term loans to customers in the United States. The company is based in Hays, Montana, and has been in business since 2015.
Target Cash Now offers loans ranging from $100 to $2,500, with repayment terms of two to six months. Customers can apply for a loan online and receive a decision within minutes. If approved, funds are typically deposited into the customer's bank account within one business day.
One important thing to note is that Target Cash Now charges interest on its loans, which can vary depending on factors such as the customer's credit score and the amount of the loan. Customers should carefully review the terms of their loan before accepting it to make sure they understand the interest rate and repayment terms.
Target Cash Now is one option for customers in the United States who are looking for a short-term loan. As with any financial decision, customers should do their research and carefully consider the terms of the loan before applying. It is important to only borrow what is necessary and to have a plan for repayment to avoid falling into a cycle of debt.
Key Features
Target Cash Now is an online lender that provides short-term loans to consumers. Here are some potential key features of the company:
- Fast application process. Target Cash Now has an online application process that is designed to be quick and easy to complete.
- Fast funding. Once you are approved for a loan, you may be able to receive your funds as soon as the next business day.
- Flexible repayment terms. Target Cash Now's loans are typically due on your next payday, but you may be able to request an extension or a payment plan if you need more time to repay the loan.
- Multiple loan options. Target Cash Now offers different types of loans, including payday loans and installment loans, which may suit different needs and financial situations.
- No credit check. Target Cash Now does not perform a traditional credit check when evaluating loan applications. Instead, the company looks at your income and employment history to determine your eligibility for a loan.
- Online account management. Target Cash Now provides an online portal that allows you to manage your loan, make payments, and view your loan history.
The features and terms of loans may vary depending on the borrower's state of residence and creditworthiness, among other factors.
Pros and Cons
Pros
- Easy online application process. It can be completed from the comfort of your own home.
- Fast approval and funding. Many loans are being approved and funded on the same day.
- No hidden fees or prepayment penalties. This makes it easier for borrowers to budget and plan their finances.
- Flexible repayment options. They allow borrowers to choose their repayment schedule and pay off their loans early without penalty.
- No collateral is required. Borrowers do not need to provide collateral to secure their loans.
- Bad credit options. Target Cash Now considers borrowers with bad credit, which makes it an option for those who may not qualify for loans from traditional banks.
Cons
- High interest rates. Target Cash Now offers loans with high interest rates, which may make it difficult for some borrowers to repay their loans.
- Short repayment terms. The repayment terms for Target Cash Now loans are relatively short, which means borrowers may have to make larger payments over a shorter period of time.
- Not available in all states. Target Cash Now loans are not available in all states, which limits their availability for some borrowers.
- Limited loan amounts. Target Cash Now only offers loans up to a certain amount, which may not be enough for some borrowers.
- It may encourage borrowing. Taking out a loan can encourage a cycle of borrowing, which may make it difficult for some borrowers to break free from debt.
Carefully consider the pros and cons of Target Cash Now before deciding whether to take out a loan. Borrowers should also compare Target Cash Now to other lenders to ensure they are getting the best loan terms for their individual financial situation.
Products
Target Cash Now is a lending company that provides short-term loans to its customers.
These are loans where the borrower repays the loan amount in equal installments over a set period of time. Target Cash Now offers installment loans in various amounts and repayment terms. You can borrow up to $2,500.
The availability of these products may vary depending on the state you live in. Additionally, each product has its own eligibility requirements and terms and conditions, so it's important to carefully review the details of each product before applying. Short-term loans can come with high interest rates and fees, so it's important to consider the total cost of borrowing before taking out a loan.
Reliability
The reliability of Target Cash Now depends on a number of factors, including its reputation, regulatory compliance, and customer satisfaction.
One factor that can contribute to the reliability of Target Cash Now is its reputation. The company has been in business since 2015 and has received positive reviews on websites such as Trustpilot and the Better Business Bureau. However, there have been some negative reviews and complaints as well, so borrowers should do their own research before applying for a loan.
Another factor that can contribute to the reliability of Target Cash Now is its adherence to industry standards and regulations. Target Cash Now is licensed and regulated in the states where it operates, and it complies with state and federal laws related to lending and consumer protection.
However, like any financial services company, Target Cash Now cannot guarantee 100% reliability. Borrowers should always carefully read and understand the terms and conditions of any loan product before applying and should make sure they can afford to repay the loan on time and in full to avoid costly fees and negative impacts on their credit score. Borrowers should consider alternative options such as credit unions, community banks, or other lenders that may offer lower interest rates and more favorable terms.
Funding a Loan
Target Cash Now typically fund loans using a combination of their own capital and funds from investors. They use underwriting algorithms and other technology to evaluate loan applications and determine the creditworthiness of potential borrowers. Once a loan is approved, the lender will typically transfer the funds directly to the borrower's bank account.
The length of time it takes to fund a loan can vary depending on several factors, including the loan type, the lender's internal processes, and the borrower's creditworthiness. Some lenders may offer same-day funding for certain types of loans, while others may take several business days or longer to complete the funding process.
Target Cash Now promises rapid funding. If your application is processed before 5 pm MST Monday through Friday, your loan will be funded the next business day. You can request express funding to get funds the same day by calling the company.
Target Cash Now vs. MoneyLion
Target Cash Now and MoneyLion are both online lenders that offer personal loans to individuals with less-than-perfect credit. However, there are several differences between the two lenders that may affect your choice.
- Loan amounts. Target Cash Now offers loans ranging from $100 to $2,500, while MoneyLion offers cash advances of up to $250 and loan of up to $1,000. If you need a larger loan, MoneyLion may be the better choice.
- Loan terms. Target Cash Now offers loan terms from 3 to 18 months, while MoneyLion offers terms of 12 months. If you need a longer repayment period, MoneyLion may be a better choice.
- Interest rates. Target Cash Now's interest rates range from 5% to 128%, while MoneyLion's rates range from 5.99% to 29.99%. If you are looking for transparency in interest rates, MoneyLion may be the better choice.
- Fees. Target Cash Now charges an origination fee that ranges from $15 to $25, while MoneyLion charges no origination fees. If you want to avoid origination fees, MoneyLion may be the better choice.
- Funding time. Target Cash Now can fund loans as soon as the next business day, while MoneyLion can fund loans as soon as the same day. If you need the funds quickly, MoneyLion may be a better choice.
The best choice between Target Cash Now and MoneyLion will depend on your specific needs and financial situation. It's important to compare rates, fees, loan terms, and customer reviews before making a decision. However, given that MoneyLion offers larger loans with lower interest rates and no origination fees, it may be the better choice for most borrowers.
Target Cash Now vs. OneMain Financial
Target Cash Now and OneMain Financial are both lenders that offer personal loans to individuals with less-than-perfect credit. However, there are several differences between the two lenders that may affect your choice.
- Loan amounts. Target Cash Now offers loans ranging from $100 to $2,500, while OneMain Financial offers loans ranging from $1,500 to $20,000. If you need a larger loan, OneMain Financial may be the better choice.
- Loan terms. Target Cash Now offers loan terms from 3 to 18 months, while OneMain Financial offers terms from 24 to 60 months. If you need a longer repayment period, OneMain Financial may be a better choice.
- Interest rates. Target Cash Now's interest rates range from 5% to 128%, while OneMain Financial's rates range from 18% to 35.99%. OneMain Financial's interest rates may be lower than Target Cash Now's, making it a better choice if you are looking to minimize the cost of borrowing.
- Fees. Target Cash Now charges an origination fee that ranges from $15 to $25, while OneMain Financial charges an origination fee that ranges from $25 to $400. OneMain Financial's fees can be higher than Target Cash Now's, depending on the loan amount and state of residence.
- Collateral. OneMain Financial requires collateral for some loans, such as car title loans or secured personal loans. Target Cash Now does not require collateral for any of its loans.
The best choice between Target Cash Now and OneMain Financial will depend on your specific needs and financial situation. It's important to compare rates, fees, loan terms, and customer reviews before making a decision. However, given that OneMain Financial offers larger loans with longer terms and potentially lower interest rates, it may be the better choice for borrowers who need a larger loan and are willing to put up collateral.
Target Cash Now vs. Moneykey
Target Cash Now and MoneyKey are both online lenders offering short-term loans to borrowers. Here's a comparison of the two lenders to help you make an informed decision:
Loan Products: Target Cash Now: Primarily offers installment loans. MoneyKey: Offers installment loans, payday loans, and lines of credit (depending on the state).
Loan Amounts: Target Cash Now: Loans typically range from $300 to $1,000. MoneyKey: Loan amounts vary by product and state. Installment loans usually range from $200 to $3,500, payday loans from $150 to $1,000, and lines of credit from $200 to $3,500.
Interest Rates and Fees: Target Cash Now: Interest rates can be high, with annual percentage rates (APRs) typically ranging from 200% to 900% or more. MoneyKey: Interest rates also vary by product and state. APRs for installment loans can range from 174% to 566%, while payday loans and lines of credit may have even higher rates.
Loan Terms: Target Cash Now: Loan terms typically range from 6 to 12 months. MoneyKey: Loan terms vary by product. Installment loans usually have terms between 5 and 18 months, while payday loans need to be repaid by your next payday (usually within 30 days), and lines of credit allow for flexible withdrawals and repayments.
Eligibility: Target Cash Now: Requires applicants to be 18 years or older, have a steady source of income, a valid checking account, and meet other underwriting criteria. MoneyKey: Eligibility criteria are similar, but may vary by product and state.
Customer Service: Target Cash Now: Offers customer support via phone and email. MoneyKey: Provides customer support through phone, email, and live chat.
Application and Funding: Target Cash Now: Online application with quick approval decisions. Funding is typically within one business day. MoneyKey: Online application with instant approval decisions in some cases. Funding is usually within one business day.
