Advance America Summary and Alternatives | OpenCashAdvance (2023)

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forAna Maria SandersPublication date: October 10, 2022

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(Video) Advance America


  • Advance America Summary and Alternatives
  • Products and services
  • Products
  • services
  • rates and fees
  • How to apply for a loan with Advance America
  • Frequent questions
  • What is Advance America?
  • What is the minimum credit score Advance America will consider?
  • Can I have a payroll and installment loan at the same time?
  • What happens if I forget a payment?
  • Is Advance America safe?
  • How much does Advance America charge for interest?
  • And the other rates?
  • Can I get a loan from Advance America if I am not employed?
  • How many times can you request a loan?
  • Alternatives to the US advance
  • credit increase
  • CashNet EU.
  • OppLoans
  • Conclution

Advance America is one of the many reputable lenders in the country. The company was founded by William Webster and George D. Johnson in Spartanburg, South Carolina in 1997.

Apply for a loan today*

*By completing the above form, you will be redirected to the loan application form.

The company offers payroll loans, installment loans, lines of credit, and secured loans. In addition, the lender provides a Netspend Visa prepaid card and Western Union services. You can apply online or visit one of their 1,200 locations across the country.

Products and services

These are the financial products and services offered by Advance America. Visit the site to learn more about these financing options.

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consigned loan

A short-term loan of two to four weeks that matures on the borrower's next payday.

loan installment

The borrower can make the loan payments in several installments over a longer period of time instead of paying all at once.

Line of Credit (LOC)

A flexible loan allows the borrower to access a fixed amount. The loan can be paid in cash or in installments.

title loan

Accessing the funds requires providing collateral, such as a car. The creditor places a lien on the title, holds it in its warehouse, and provides the funds. The amount is based on the appraised value of the borrower's vehicle.


Netspend Visa Prepaid Card

Preload the card with funds and use it like a regular debit or credit card.

Western Union

It allows users to transfer funds quickly and reliably.

rates and fees

Advance America offers loans ranging from $100 to $5,000. However, these values ​​may vary depending on state regulations.

In addition, loan fees and charges depend on a number of factors, including your income, credit score, loan type, and loan term. As a result, each applicant will get different rate offers based on their personal eligibility.

Advance America normally charges 533% APR for its products. In addition, the lender provides a sample rate calculator on its website to estimate loan terms and rates taking into account the amount borrowed and the state in which you reside. For example, the APR in California is around 460% for a payday loan.

How to apply for a loan with Advance America

To request acash advance, payroll loan, payroll loan or line of credit, it is necessary to follow the following steps:

Stage 1. Apply

Choose your loan. Begin your application online or in store by providing personal and financial information. The latter includes a government-issued ID, source of income, checking account, andSocial Security number.

Step 2. Review your terms

If you are eligible for a loan, the lender will present you with a loan agreement. Interest, terms, due dates, and additional charges will be described. Please review this information carefully and thoroughly before signing any document.

Step 3. Receive your funds

If approved, you can receive the funds within one business day.

Pros and Cons of Advance America

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All lenders offer pros and cons to borrowers. Therefore, it is essential to consider the advantages and disadvantages of a financing provider before applying for a loan.



  • Online application and in-store options
  • You can work with candidates with little or no credit.
  • minimum documentation
  • $0 prepaid fee
  • Small loan amounts available
  • High ratings on consumer reporting sites
  • high rates
  • Charges an origination and delay fee
  • Not available in all states
  • Does not offer pre-approval with soft credit draw
  • Installment loans are not reported to credit bureaus

Frequent questions

What is Advance America?

Advance America is a lender that offers payroll loans, installment loans, lines of credit, and title loans. They offer flexible loan applications online and at their 1,200 locations across the country.

What is the minimum credit score Advance America will consider?

Advance America does not set its minimum credit score requirements. Instead, the lender may consider income along with credit scores when determining an applicant's eligibility. Therefore, consumers with lower credit scores may be eligible for financing.

Can I have a payroll and installment loan at the same time?

Do not do. You can only have one active loan at a time.

What happens if I forget a payment?

Advance America charges a late payment fee. However, missed or late payments can negatively affect your credit score.

If you cannot make the minimum payment by the due date, call the company at 1-877-505-0701. The lender may be willing to offer an extension.

Is Advance America safe?

Yes. Advance America has many positive reviews on various consumer websites.

How much does Advance America charge for interest?

Your credit score, income and status determine your APR. Rates also vary based on the type of loan. The interest rates that the lender has set for its products can be as high as 533% in some cases.

And the other rates?

Advance America charges an origination and late payment fee. Other fees, such as administrative costs, may apply depending on the state in which you reside. It is best to contact the lender directly to find out what additional fees will be charged. Also, it's vital to review your loan agreement to make sure all rates and charges are correct.

Can I get a loan from Advance America if I am not employed?

Advance America does not say if they work with unemployed applicants. Therefore, it is best to contact the lender directly for information.

How many times can you request a loan?

The number of times you can get a loan depends on state regulations. Some states have strict limits on the number of loans you can get in a 12-month period. To ensure compliance with these standards, please contact Advance America for clarification.

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Alternatives to the US advance

If this lender is not the best fit for your financial needs, you can also try other options available in the industry. Below you can find some alternatives for this lender.


  • If you need flexibility: RISE Credit
  • If you need a lender who is willing to work with bad credit:CashNet EU.
  • If you do not need minimum credit score requirements: OppLoans

credit increase

RISE Credit is an online lender that can offer you more flexibility in choosing your payment schedules. Plus, they offer a five-day risk-free guarantee. You can repay the principal amount of your loan if you no longer wish to borrow the money.

RISE Credit has locations in Alabama, Alaska, Arizona, California, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Utah, Washington, Wisconsin and Wyoming.

CashNet EU.

CashNetUSA is an online lender that offers payroll loans, installment loans, and lines of credit. The lender may be willing to work with borrowers who have limited or damaged credit scores. As a result, CashNetUSA may use an alternate scoring mechanism to consider income and credit score when determining loan eligibility.

Payroll loans range from $100 to $600, while installment loans and lines of credit range from $100 to $3,500. The terms range from six to 24 months, and the APR is between 85% and 450%.

In addition, CashNetUSA provides interactive tools and educational resources to help customers better manage their finances.

CashNetUSA offers financial products to borrowers in Alabama, Alaska, California, Delaware, Florida, Idaho, Kansas, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Utah, Wisconsin and Wyoming.


OppLoans is a lender that specializes in online personal loans with flexible credit score requirements. OppLoans offers payday loans, installment loans, and debt consolidation between $500 and $4,000. Loan terms range from six to 18 months and APRs between 59% and 199%.

In addition, the lender offers financial education courses on using credit, debt, borrowing, budgeting, saving, and spending.

OppLoans has stores in Alaska, Arizona, Arkansas, California, Delaware, Florida, Hawaii, Idaho, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington and Wyoming.

(Video) Advance America Review, Online Loans, Same Day Loans, Emergency Loans, Line of Credit, & Extensions


Advance America offers payroll loans, title loans, lines of credit, and installment loans. The lender also offers Western Union services and prepaid cards. However, the APR and additional fees can be significant. Advance America offers online and in-store applications, giving consumers the flexibility to find financing options.


What are 3 alternatives to getting a payday loan? ›

Best Alternatives to Payday Loans to Consider During a Crisis
  • Local nonprofits and charities.
  • Medical bill assistance.
  • Bad-credit online loans.
  • Credit union loans.
  • Payment plans for monthly expenses.
  • Other ways to make money.
  • Lending circles.
  • Family loans.
Nov 14, 2022

What does Advance America do? ›

Advance America is a large lender that offers online loans and in-person lending at more than 1,400 physical locations. It offers payday loans, installment loans, title loans and personal lines of credit to people with less-than-perfect credit.

What are alternatives to possible loan? ›

Possible Finance's top competitors include Moneytree, and SoLo Funds. Moneytree provides retail financial services including loans, check cashing, prepaid cards, payments, and more. It is based in Seattle, Washington. SoLo Funds is a mobile peer to peer lending exchange that provides access to loans of up to $1,000.

What happens if you can't pay Advance America back? ›

The Advance America website states: "If a customer is unable to pay back an advance within the arranged timeframe, Advance America offers an Extended Payment Plan to allow customers a longer time period to repay at no additional charge."

What is the easiest loan to get? ›

The easiest loans to get approved for are payday loans, car title loans, pawnshop loans and personal loans with no credit check. These types of loans offer quick funding and have minimal requirements, so they're available to people with bad credit. They're also very expensive in most cases.

What are 4 alternatives to getting a payday loan? ›

What Are Better Alternatives to Payday Loans?
  • Consider a Payday Alternative Loan (PAL) ...
  • Apply for a "Bad Credit" Personal Loan. ...
  • Borrow From Family or Friends. ...
  • Ask Your Creditor About a Payment Plan. ...
  • Seek Help From a Credit Counselor. ...
  • Get a Side Hustle. ...
  • Consider a Low-Interest Credit Card. ...
  • Explore Lending Circles.
Sep 6, 2021

Is Advance America a real loan company? ›

Advance America is a safe and legitimate lender that offers a variety of online loans, from cash advances and installment loans to title loans and lines of credit.

What industry is Advance America in? ›

About us. Founded in 1997, Advance America has become one of the nation's leading providers of consumer financial services, with online lending and 1,200+ locations nationwide.

What is the best payday loan company? ›

  • #1. MoneyMutual: Best Payday Loans With Instant Approval.
  • #2. BadCreditLoans: Recommended For Fast Payday Loans Online.
  • #3. RadCred: Get Payday Loans With Current Interest Rates.
  • #4. CashUSA: Best For Instant Payday Loans With No Credit Check.
  • #5. PersonalLoans: Same Day Payday Loans From Best Loan Lenders.
Sep 19, 2022

What are the pros and cons of alternative loans? ›

What is Alternative Lending?
Simplified applicationPotentially higher rates
Faster turnaroundShorter terms
More loan optionsMore frequent payments
No restrictions on how you use your funds
Apr 8, 2021

What are three alternatives to using credit? ›

Some of the best alternative sources of finance can be as simple as:
  • Using a debit card.
  • Making use of your overdraft.
  • Topping up a prepaid debit card.
  • Paying with cash.
  • Applying for a short-term loan.
  • Choosing Paypal.

How do I get out of a payday loan nightmare? ›

It's hard, but the steps you'll need to take to get out of payday loan debt include:
  1. Request a repayment plan from your lender.
  2. Use lower-interest debt to pay off a payday loan.
  3. Commit not to borrow any more.
  4. Pay extra on your payday loan.
  5. Consider debt settlement or bankruptcy.

How do I get out of cash advance debt? ›

7 Ways to Get Out of a Merchant Cash Advance
  1. Make a Lump Sum Payment. ...
  2. Renegotiate the Advance. ...
  3. Use a Term Loan to Consolidate the Debt. ...
  4. Consider Factoring. ...
  5. Maximize Your Business Profits. ...
  6. Approach a Merchant Cash Advance Attorney. ...
  7. Consult an MCA Expert. ...
  8. Get Help Restructuring Your Merchant Cash Advance Debt.

What happens if I close my bank account and default on a payday loan? ›

If you close the checking account to keep the lender from taking what you owe, the lender might keep trying to cash the check or withdraw money from the account anyway. That could result in you owing your bank overdraft fees. The payday lender might send your loan to collections. Then there will be more fees and costs.

What is the easiest loan for bad credit? ›

The easiest loans to get approved for with bad credit are secured, co-signed and joint loans because you can use collateral or another person's creditworthiness to make up for your bad credit score. Payday loans, pawnshop loans and car title loans also are easy to get, but they're extremely expensive.

What app can I borrow money from immediately? ›

6 Loan Apps in 2023: Cash Advances and Overdraft Protection
  • EarnIn: Best for low fees. ...
  • Dave: Best for repayment flexibility. ...
  • Brigit: Best for budgeting tools. ...
  • Empower: Best for fast cash. ...
  • Chime: Best for overdraft protection. ...
  • MoneyLion: Best for existing customers.
Nov 7, 2022

Which bank gives instant personal loan? ›

Get the best instant loan in India from a bank at an interest rate as low as 10.75% p.a. Loan approval will be in a few minutes.
Top Instant Personal Loans from Banks.
BankInstant Approval inPersonal Loan Interest Rate
Yes Bank1 Minute10.00% p.a. onwards
IDFC First2 Minutes10.49% p.a. onwards
1 more row

What is an alternative to cash advance? ›

A Personal Loan

Personal loans can be more cost-effective than a cash advance and still worth the time it takes to apply, depending on the situation. While interest rates on personal loans can be hefty, they are usually lower than those applied to cash advances and may come without the same massive fees.

What is an alternative payday loan? ›

A payday alternative loan is a type of short-term loan offered by federal credit unions as an affordable alternative to expensive payday loans if you need money to make ends meet on short notice. The National Credit Union Administration (NCUA) sets guidelines for the costs and terms of PALs.

What app can I borrow $500 from? ›

Get up to $500 instantly (1) with ExtraCash™ from Dave. There's no interest, credit check, or late fees. With a Dave Spending account, you can also get your paychecks up to two days earlier (2).

How do I know if a loan company is scamming me? ›

8 key warning signs of personal loan scams
  • The lender requests fees upfront. ...
  • The lender is not registered. ...
  • The lender does not require a credit check. ...
  • The lender requests unusual forms of payment. ...
  • The lender solicited your business. ...
  • The lender is pressuring you to sign. ...
  • The lender has no physical address.
May 28, 2021

How do I know if Advance America is legit? ›

Legitimate lenders will display their licenses on their websites to verify they are fully licensed in your state and comply with state and federal laws. Be suspicious of any email with urgent requests for personal financial information. If an email makes upsetting or exciting false statements, it's likely a scam.

Does Advance America call your employer? ›

A payday loan lender won't contact your boss but will need to make sure that you meet the requirements necessary to be eligible for a loan.

What type of company is Advance? ›

Founded in 1922, Advance is a private, family-owned company that operates and invests in a broad range of media, communications, technology and education businesses globally.

What type of business is Advance financial? ›

With over 20 years of experience, Advanced Financial Company provides comprehensive mortgage loan, auto loan and homeowner's association (HOA) account servicing, unparalleled customer service, tailored portfolio management reporting, backup servicing and delinquency collections for HOAs, financial institutions, auto ...

What is Advance America interest rate? ›

Advance America offers a personal loan product that ranges from 143.29% APR up to 688.28% APR.

What is the easiest payday loan to get online? ›

Best Instant Loans Online Guaranteed Approval:
  • MoneyMutual: Best instant payday loan overall.
  • CashUSA: Excellent same day loan for high loan amounts.
  • BadCreditLoans: Best payday bad credit loans.
  • PersonalLoans: Best for fast personal loans.
  • Funds Joy: Best for quick payday loans.
Aug 10, 2022

Can I get a payday loan with a 500 credit score? ›

With a credit score of 500 or below you may only be eligible for certain types of loans such as payday loans, title loans, personal installment loans, and pawnshop loans. If you're specifically in need of an unsecured loan then payday loans online or personal installment loans would be for you.

Does Walmart do payday loans? ›

Walmart does not offer payday loans. They do offer personal loans to their employees in some cases, but these are not available to customers. You can however finance purchases through Walmart. Which means you can take an item home and make payments on it over time.

What are the disadvantages of alternative lending? ›

Alternative lender disadvantages

More expensive: Because alternative lending is used by small business without an extensive background, they represent a greater risk. As a result, non-bank-lenders can charge higher interest rates or a shorter term, leading to large payments that can cut into your cash flow.

What are examples of alternative credit? ›

Examples of alternative credit data include:
  • Income & employment information.
  • Consumer banking data.
  • Inquiries and payment performance related to "specialty" lenders that do not report data to the national CRAs (e.g., payday lending)
  • Utilities / Telecom payment history.
  • Rental payments.

What are the cons of using alternative credit? ›

Higher risk of loss

In the case of alternative financing, because of the higher acceptance rate of loans approved for those who may be considered at higher risk of non-repayment by banks, there is a chance that investors may lose some or all of their capital.

What are alternative names for payday loans? ›

A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest rates.

What are some viable alternatives to payday loans quizlet? ›

Some viable alternatives to payday loans​ are: to simply not borrow from any source. If this option is not feasible consider borrowing from a friend or​ relative, getting a cash advance on a credit​ card, or selling some asset.

Is there an alternative to money? ›

Barters are another type of alternative currency. These are actually exchange systems, which trade only items, without the use of any currency whatsoever. Finally, LETS is a special form of barter that trades points for items. One point stands for one worker-hour of work, and is thus a time-based currency.

What are examples of cash alternatives? ›

The main types of cash alternatives are savings accounts, CDs, money market accounts, and money market funds. Which option is right for you may depend on how much access you need to the money, how much risk you're comfortable taking on, and what type of product offers the best interest rate.

What apps let you borrow money instantly? ›

6 Loan Apps in 2023: Cash Advances and Overdraft Protection
  • EarnIn: Best for low fees. ...
  • Dave: Best for repayment flexibility. ...
  • Brigit: Best for budgeting tools. ...
  • Empower: Best for fast cash. ...
  • Chime: Best for overdraft protection. ...
  • MoneyLion: Best for existing customers.
Nov 7, 2022

How can I turn my credit into cash without cash advance? ›

Buy prepaid cards

You can also avoid cash advances and get cash from a credit card using prepaid cards. You can take a few approaches, but the most direct and immediate one is buying a Mastercard gift card with a sufficient amount of cash on it using your credit card and withdrawing that cash from an ATM.

Where should I get free money? ›

Here are 10 legitimate ways to get free money online:
  1. Join a focus group.
  2. Start some freelance work.
  3. Review a mock trial.
  4. Earn while you shop.
  5. Sign up for surveys.
  6. Watch videos.
  7. Listen to music.
  8. Play games.

What do I do if I need money instantly? ›

If you need to borrow money immediately, the most popular options are personal loans, cash advances online, payday loans, pawn shop loans, and banks or credit unions. But be careful with cash loan options that promise you a quick loan with no credit check.

Can we live without money? ›

If you're a single person, living without money will be much easier to manage than if you have a family. Because living cash-free is a huge commitment, you will want to make sure that your essential needs can still be met without money.


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