Features

Cash America is one of the largest pawnshop and payday lenders in the world. In 1983, Jack Daugherty opened his first pawnshop in Irving, Texas. Fast-forward to 2014, Cash America provides financial services at over 1,000 lending locations throughout the United States, Mexico, United Kingdom, Australia and Canada. It is also the owner of several online personal loan providers through Enova: its internet lending division.

How Does Cash America Work?

Cash America offers pawn loans, auto title loans and payday loans, which are also known as cash advance loans. To apply for a cash advance you must visit one of Cash America pawnshops. If you're looking for online lending, Cash America provides online loans through its subsidiaries: CashNetUSA, DollarsDirect, NetCredit and Headway Capital.

What Are Cash America's Interest Rates?

Interest rates range from a $278.98% to 533.40% depending on which state you live in. These rates are based on borrowers repaying the entire loan on-time. Borrowers who don't pay online or rollover their loan will have to pay additional fees. Cash advances are generally priced as a fixed fee for every $100 borrowed. For instance, in Nevada, the fee for every $100 is $16.50, which amounts to an APR of 430.18%.

How Much Money Can I Borrow from Cash America?

Loan amounts vary from $100 to $1,500. The loan amount you qualify for will depend on your income, living expenses and the state you live in. Cash advance loans have short repayment periods of just two to four weeks and many borrowers have to extend them over several months, which can further increase the cost of the loan.

Which States Does Cash America Operate In?

Cash America operates in Texas, California, Nevada, Alaska, Louisiana, Missouri, Indiana, Tennessee, Kentucky, Ohio and Michigan.

What Is Cash America's Application Process Like?

The application process is simple and fast. You must call at one of its branches and provide valid ID, proof of income, a checkbook, a bank statement, proof of address and a valid phone number.

How Is Cash America Better Than Other Lenders?

Cash America is a payday lender, so its interest rates are extremely high. However, it is an active member of the Community Financial Services Association, and follows their code of best practices. For instance, they only allow a maximum of four loan rollovers and give borrowers the option of entering an extended payment plan. The application process is a fast and easy, albeit expensive, source of cash for borrowers with bad credit.

Payday loans are only a defensible option for borrowers with bad credit who can afford to pay the entire loan on-time and need the cash want to avoid bank overdrafts or further tarnishing their credit rating, if they are paid in full and on-time. The problem is that most payday loans are extended several times, which further increases its cost.

  • Credit bureau reporting
  • Interest APR
    278% - 533%
  • Joint loans available
  • Loan Amount
    $50 - $2500
  • No late fees
  • Max Loan Term (Months)
    36
  • Lend to military?
  • Institution Type
    Direct Lender
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1 votes

Their website says that its easy as 1-2-3 to get a loan with them, but my experience was much different. I had some electronics sitting around and a cash shortage, so I gave them a call to see about bringing the items in. My first warning should have been the terrible customer service I received over the phone. Really grouchy guy should have turned me off. Unfortunately, I went in and did end up pawning a couple of items. I dont think I got enough for them, but now its ... too late. More Less


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