Speedy Cash Loan Review 2022
If you need money quickly, you might be able to get it from Speedy Cash. But its personal loans are hard to get and have high interest rates, so you might want to look for a loan somewhere else. This article outlines the Speedy Cash Loan Review.
Watch the below video on Speedy Cash Loan Review:
How a Speedy Cash loan works.
Getting a Speedy Cash loan is easy. You can apply for one online, by phone, or at one of its stores across the country. Speedy Cash has payday loans, title loans, lines of credit, and installment loans, and they can help you get all of them quickly. When we write this review, we’ll only talk about Speedy Cash’s personal loans, which the company calls installment loans.
Installment loans, on the other hand, usually have longer loan terms than payday loans.
It costs more to borrow money when the interest rate is high.
If you want to get a personal loan, the National Consumer Law Center says you should look for one with an interest rate of less than 36 percent or less. It turns out that even Speedy Cash’s lowest APRs are way above that, with rates in the triple digits. You should only think about getting a Speedy Cash loan if it’s an emergency and you’ve tried everything else.
May charge a fee at the start.
Some states charge a “initiation fee.” This is an upfront fee that is charged to process your loan application. Speedy Cash’s fees for getting a loan can be different based on where you live.
Potentially quick money.
As soon as the next business day, you may be able to get your loan funds directly into your bank account. That could be a good thing if you have to pay for something quickly, like a car repair.
Terms don’t match up.
Each state has different terms for Speedy Cash loans.
People in some states may have to pay their loans twice a month. If you’re looking for a loan that you can pay back over time with just one payment each month, this could strain your budget.
A look at Speedy Cash loans
You should think about these other things before taking out an installment loan from Speedy Cash.
When you want to pay off your loan early, Speedy Cash won’t charge you for doing so. Besides direct deposit, Speedy Cash lets you pick up your cash at a storefront near you. You can also get your loan money on one of three types of debit cards called Opt+ cards. But keep in mind that there may be fees based on how you get money.
If you want to set up automatic payments, you can do that. Each month, your payments will be taken out of your checking account.
Those who need money quickly.
If one of these situations is true for you, a Speedy Cash loan might be a good choice for you.
: You live in one of the states where the company gives out installment loans.
It’s a good idea to remember that the amount of money you can get from a loan is based on where you live. You can quickly pay it off. Because its APRs can be very high, you should only think about getting a Speedy Cash loan if you have no other way to pay for an emergency expense.
With Speedy Cash, how do you get money.
The process for getting a loan from Speedy Cash isn’t very complicated. To apply for a job, here is the personal information you’ll need to give.
* Your full name and birth date
* Valid ID
* Your home address
* A steady source of income
* A bank account that is open
Speedy Cash will run a credit check when you apply, which could hurt your credit score by a few points.