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Check Into Cash is a leader in the lending business. It offers short-term lending in small amounts. The company is established in 1993 and provides the services in 22 American states. Lending online is a quite new service but it quickly built an early lead if we compare it with the bank service. Such a way of obtaining funds is a good alternative to bank funding, though, it also has its own nuances and features. The main advantage of online lending is convenience and easiness. You don’t need to constantly visit financial establishments to take a borrowing and then to repay it. Furthermore, the banks can reject the request because of the creditworthiness of the consumer.
Important information the client should know
Comparing with other lenders in the industry, Check Into Cash is a front runner in the business because of its reasonable rates of interest, availability and convenient service. But keep in mind that in spite of the numerous advantages, its fees are rather costly and there is a risk to be in hock. That is why it is a must to repay a loan before taking a new one.
About rates and fees
Check Into Cash offers payday loans with additional fee ranging from 15 to 79 dollars. These are given for a short term, but if you calculate the annual interest rate of these charges, you will receive rates varying from 261 to 782 percent. The total rate of interest depends on the state you live in. Let us consider Washington and Texas where the rates aren’t so high. Here the charges are $25 per every $100 you have borrowed. If you think it is too costly, there are even more costly lenders. The lowest fee is $13 per every $100 in California.
The possible amount you can borrow
It is possible to borrow from $100 to $1,500 for a term of 31 days. Sometimes it happens that you need to borrow large amount. In this case you may apply for an installment loan. It is given for a longer period but the rate remains the same as in payday loan. So, suffice it to say, you will pay a double sum that has been taken.
Repayment process
The payments from your bank account will be taken away by a company every month. This might be very convenient for both a lender and a client because there is no need to visit any financial establishments and wait in lines to recover your monthly payment. It is noteworthy that it is possible to pay off the loan ahead of time and don’t pay any additional fees. This way you can save on the rate of interest.
Check out the approval requirements
Check Into Cash offers the most advantageous and fast lending service. If you want to deal with this company, it is better to get to know the main terms and conditions beforehand.
- Individuals that are under 18 are restricted to apply to Check Into Cash. It is a criminal offense.
- The minimum credit score to receive extra money should be no less than 300.
- Only American citizens and a legal resident of the state can borrow from the lenders. It is necessary to confirm your valid address as well as a legal residential status.
- Do not worry about the previous bad credit anymore. Even if you have an active credit, it is possible to get a positive answer.
- To obtain speedy approval, don’t forget to confirm your contacts.
- The client need to have a stable income at least $1,000 to be able to recover a cash advance.
While applying to Check Into Cash, the representative of the company will ask you to tell a real personal information. Fortunately, it is not necessary to provide tons of unnecessary documents. Below you can read the essential information the client should provide. This data is necessary to contact you and discuss general conditions.
- The conformation if the name, address, valid email as well as telephone number;
- A document that proofs identity and Social Security number;
- The contact information of the latest employer;
- Income statement;
- The information of a personal bank account.
Additional services
One more service is lines of credit. This option works the same way as credit cards. The client pays only when uses the money. It is possible to provide minimum payment which is 10 USD membership charge, approximately 5% of the main amount. However, the rate of interest is rather high. Occasionally, you can meet the APR of 300%, so such type a cash advance is rather costly.
Another financial service is cash check. It is possible to and pay bills with their help. This is a unique proposition that you might find interesting.
Benefits of applying to Check into Cash
- Speedy transaction. Usually, lenders won’t provide a transaction immediately. Check into Cash guarantees operative work and the possibility of getting your money as soon as one working day.
- Professional client service. The company provides a first-class individual approach to each client and maximum concern of their financial difficulties.
- Customer support. Check into Cash provides the high-class client support and their representatives will answer all your questions 24/7. You can get the cash advance as soon as the company’s representative receives all the necessary documents.
- In-store service. If you are thinking to visit the local office of the company, a lot of options and proposals are waiting for you.
Conclusion
Along with online payday loans, the company also offers installment loans as well as large credit lines. Check into Cash does not require a time-consuming and difficult application procedure. What is more important, you don’t need to worry about your spoiled credit score.
If you tend to take out a certain small amount for a short period of time, it is necessary to realize that you will surely have to give back more than you received. That is the precise system of how the lending services work.
