Features

CashCentral is a licensed online lender based in North Logan, Utah that provides both payday loans and installment loans to borrowers with poor to bad credit. This review focuses on its payday loans but also highlights the main terms of its installment loans.

How Does It Work?

Customers must fill in an online form to determine eligibility. Application decisions are made within a few minutes. CashCentral is not a merit based lender. This means it pools the risk of customers when determining interest rates. This could mean you pay an interest rate that is higher than what your credit rating merits. What Are The Interest Rates? Interest rates vary from 214.62% to 1609.58%, which amounts to a fee of $15 to $27 for every $100 borrowed. Because of how they are calculated APR rates are higher the shorter the term of the loan. Installment loans have an interest rate ranging from 156.89% to 186.56%.

How Much Money Can I Borrow?

CashCentral's payday loans have low maximum amounts: just $255. Installment loans range from $2,500 to $5,000. A 24-month $5,000 loan would require 24 monthly installments of $634.34: a total cost of $15,224.

What Is the Application Process Like?

CashCentral's application process is fast and simple to complete. You need proof of source of income, a checking account in your name, two valid telephone numbers, your social security number, and to be at least 18 years old. The entire process, including cash transfer, can be processed within 24 hours or the next business day when requested during the weekend.

How Is It Better Than Other Lenders?

CashCentral has a simple to use and fast loan application process that allows you to receive cash within 24 hours of applying. The interest rates are comparable to other payday lenders and they offer installment loans in certain states, which have lower interest rates than payday loans.

  • Advance Fee APR
    214.61% - 214.62%
  • Desired Loan Amount
    $100 - $255
  • No Credit Check
  • Min Monthly Income
    $600
  • No Other Outstanding Loans
  • Direct Deposit
  • Instant Decision
  • Online Application
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0 votes

I took out a loan in July of 2015 and I have made 16 payments on time. I called to find out why only a small amount was being applied to the principle because according to my calculations the contract says 24 months and maturity date 06/2017 I should only have 8 payments left but the representative tells me I have 13!!! Really!!!! I will not do business with this company again!


0 votes

seriously if you get this loan you are a bonehead! The interest rate is 180% or higher which should be completely illegal. My husband signed up for one and I can not understand how this company is allowed to operate this way. I would like to take legal action, has anyone else done this with this business?


0 votes

Made all my payment for ten month, approx $4k went to pay-off still higher then the $2.5k I borrowed. Nothing had applied to principle.


0 votes

STOP FRAUD!!!! On April 10, 2015, I received a cold call a person from Cash Central. Stating that, I had fraudulent activity on my application. I said I didn't file an application because I don't need any loans. They will send me information showing the fraudulent activity. I did give them my P O Box address, no phone number, SSN, or date of birth. I did go to my bank to confirm if they knew anything about Cash Central. Nothing showed at the bank. I received a mail from them ... POSTMARKED May 18 2015, 38 DAYS AFTER phone call. In it was a fraudulent activity letter dated April 10 2015, an installment loan agreement dated April 13, 2015, and a loan start date of May 5, 2015, an authorized represensive execution dated April 10, 2015. I did not authorize, request, or wanted a loan or I did not sign any contract. But an installment loan agreement dated April 13, 2015, was produced. Even when on April 10, 2015, Cash Central went through with the application, which I have never seen or initiated. The loan account was opened. The account should have been placed on a hold status, or have been marked “restricted” until all details have been confirmed. On March 3, 2016, I checked my Experian FICO Credit Report and found Cash Central, open an account on April 20, 2015, 10 DAYS AFTER phone call and 28 DAYS BEFORE receiving any information about the account without me knowing about it. Also with knowing there was fraudulent activity in question. The FACT is that the loan account open, I did not receive any loan money, account statements, any late notices, any certified mail, any phone calls, or had anyone knocking on my door. When the did have my correct mailing address since April 10, 2015. Removing this fraud from my Experian credit score is not easy. More Less


0 votes

No good rating. Interest rate for my two-year loan was over 200%, far too high.


0 votes

I have been paying on my loan for over 2 years. When I called them to clarify I was told the first 3 months of payments only went to interest. Now, after all the time, only $50 of my $280 payment goes towards the principal. I also can not see the original contract anywhere on the website, nor can I see what the break down of what has already been paid.

I WOULD NEVER DO BUSINESS WITH THIS COMPANY AGAIN, EVER!!!


0 votes

Note: zero stars is the rating. They are a underhanded corporation. Payday loans are horribly, that is a fact. This company however, takes the cake. As you log in and fill out the pay day loan information and you agree to the amount you want it then takes you to a “refinance page”. This page has a few sentences, a drop bar with 4, 3, 2, and 1. There is no zero option. Further, there is no “skip to complete loan”. So you're forced to select 1 and then the ... terms of agreement page. The amount you show owing on the final page stays the amount you originally wanted (amount you request and the agreed upon fee). Then they charge you the fee twice over and tell you that you agreed to the refinancing of your loan. Be aware, nothing on the refinance page or there after shows a single thing about paying the original fee and a “refinance” fee. It simply says the loan amount and fee on all the final pages. All emails sent show one fee and the loan amount; there is no documentation of the fee. In the terms and agreements (somewhere between A and Z) there is a quote “listing of the refinance charges” but no sign in any email of two finance fees. I argues for 26 minutes with this company. End result, they're an underhanded company who bullies customers already financial struggling. I hope Bernie Sanders begins investigating loan companies such as yours very soon. More Less


0 votes

I just had the most horrific experience with Cash Central. I wanted to change my funding.bank information because it was not the right one. And I was not able to. The supervisor Stacy G. Stated that I needed to send a bank statement for them to make the change. I think that is so inconvenient, this is still in the preliminary part of the application. I havent accepted nothing, I have not agreed to anything. I was not helped, and assisted properly. It's so easy to say, " It's ... in our policy." More Less


0 votes

Cash Central isnt so bad. They are kind of a one of company in that they don't offer very much in terms of payday loans, so it is not hard to pay them back in a reasonable amount of time. I think the most you can get is $250. If you do get a loan here though, pay it back as fast as you can, because the interst rate is really high


0 votes

This place is super strict on having valid forms of all the things they ask for. If your address doesn't match your ID or if you don't have a real payroll check stub, it is likely that you will not get very far in the process. And if you do manage to get a loan here; The interest rates make it very motivating to pay it off quickly.


0 votes

I went online to cash central to apply for a payday loan. I got approved for the loan however my interest rate was so high. I have good credit so I don't really understand where this interest rate is coming from when they say they are competitive rate company. First and probably last time from this company


0 votes

I got denied a loan at cash central for the strangest reason I have ever heard... I only own a cell phone, no home phone, and I'm not giving my work phone number to a payday loan place. Apparently I need more than one phone number to be valid in order to take a loan out. Who even has a home phome anymore anyway!?


0 votes

I wasn't able to get my payday loan approved because of my ID being recently expired. It literally expired just a few days before I appllied for the loan. I dont have much else to complain about them, because I obviously didn't get very far in the loan process.


0 votes

cash Central is okay in my opinion. The whole process takes less than fifteen minutes, and you find out immediately if you are qualified. Just make sure before you sit down to apply that you have all the proof and documentaion you need. There is a list of what is required on the website


0 votes

I have good credit and I needed a quick loan because of some fire damage from my fireplace at my house recently. I make enough money to get by but I don't have enough money for incidentals like a faulty firescreen. All I could get from them was tonight $250 max! What kind of place is this?


0 votes

Not so sure how to rate cash central. I do know that Cash Central is not really a proper name for the place. They don't give you very much if you're going for a payday loan. If you need more than $300, go somewhere else. But if you have bad credit don't need a whole Lotta cash I guess this place is just right for you


0 votes

I went to cash central because I needed a quick $200 loan between checks to pay off my overdue credit card bill. I don't like bills like that to lapse so I took out a loan I knew I could pay back within a week. Interest-rate is better than I would be paying for late fees on my credit card bill. It was worth it for me, it just depends but you need to loan for


0 votes

I don't have very good credit but I needed money fast for some personal reasons. So I took out a payday loan from this company and got approved with a fairly low interest-rate for my credit. I couldn't even believe I got approved in the first place. Not so bad


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