Checkmate is a payday lender based in Phoenix, Arizona. The company, which was launched over 20 years ago, is a direct lender and has stores in five states. Checkmate is a member of the Financial Service Centers of America and the California Financial Service Providers Association.

How Does It Work?

Checkmate provides loans through its stores. You can start the process applying online, which will save time when you arrive at your local store, but you must collect the cash from one of its stores. The only exception is Washington, where you can apply for a Checkmate Express loan and have the cash deposited in your bank account or Visa debit card.

What Are The Interest Rates?

Interest rates range from 165.12% to 912.5% depending on how much you borrow, which state you live in and how long you take to repay the loan. This translates to a finance charge of $16 to $17.50 for every $100 you borrow.

How Much Money Can I Borrow?

Maximum loan amounts vary by state but range from $50 to $1,000. State laws also determine maximum loan amounts. In New Mexico, the maximum loan is $300, in California it's $255, in Colorado and Arizona it's $500, and in Washington it's $700. The cost of a loan also varies widely by state. For instance, a $500 loan with a 14-day term will cost you $75 in Washington. The same loan in Arizona would set you back $87.5.

What Is the Application Process Like?

The application process only takes a few minutes to complete and you'll know if you're approved on the spot. Checkmate will not check your credit but in some areas it does use a risk assessment service to make sure you don't have any outstanding loans with other payday lenders.

How Is It Better Than Other Lenders?

Checkmate is registered and licensed in all the states it operates. It doesn't check credit ratings and offers fast loans at competitive rates when compared to other payday lenders. However, it's only an option for borrowers in Arizona, California, Colorado, New Mexico and Washington. Checkmate stores also offer title loans, check cashing services and installment loans.

  • Card Network
    • Mastercard
    • Visa
  • Free In-network ATM Withdrawal
  • Max Monthly Service Fee
  • No PIN Purchase Transaction Fee
  • No Signature Purchase Transaction Fee
  • PIN Purchase Transaction Fee
  • Signature Purchase Transaction Fee
  • Out-of-Network ATM Withdrawal Fee
  • Daily ATM Withdrawal Limit
  • Free Customer Service
  • Free FICO Score
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