Payday loans are loans based on your payday. The lure of payday loans is that they are quick and easy and do not require good credit; however, their use must be used carefully to avoid a vicious debt cycle, as fees on payday loans add up very quickly. They are designed for short-term, emergency funding and as a last resort if other options, such as bank loans, credit cards, or even loans from friends and family, have been exhausted. Payday loans are ill-suited for longer term credit needs and greatly increase the risk of borrowers entering a debt cycle.
The application process can be quick, taking 5-10 minutes, and approval is often instant. You must be employed, have direct deposit, and be over 18 years old. If approved, the money is generally deposited into your checking account by the next business day. The cash is a loan and is due in full your next pay period plus fees. Fees vary and can be anywhere from $10 to $45 for $100 borrowed. These loans can sometimes be renewed, but additional fees are incurred. These costs add up quickly, as you end up paying fees on your fees. Renewing is generally not a good choice, so if you believe you are unable to pay your loan in full at your next pay period, you may consider an installment loan. Installment loans are due over a longer period of time. To learn more about installment loans versus payday loans, see Installment Loan or Payday Loan. To learn more about payday lending, visit Choosing a Payday Loan and How Payday Loans Work.
The table below contains all our lender reviews. We rank lenders according to our Sniff Test (reputation), costs, and licensing. Click on your state to see lenders that provide loans in your state.
We have reviewed 28 payday loan lenders with a Rating of 0 stars or better.
| Company Name | Description | Cost | APR | Sniff | Rating |
|---|---|---|---|---|---|
 |
Nevada Licensed storefront and online lender.
Governing Law: State Lic.
|
$54.00 | 469% | Great | |
 |
A+ BBB Score and accredited. $30 referral credit.
Governing Law: State Lic.
|
$75.00 | 651% | Great | |
 |
Large online lender. Special: Save 50%.
Governing Law: State Lic.
|
$75.00 | 651% | Great | |
 |
C+ BBB Score. Application in Spanish and English.
Governing Law: State Lic.
|
$75.00 | 651% | Great | |
 |
A+ BBB Rating and accredited
Governing Law: State Lic.
|
$90.00 | 782% | Great | |
 |
Discounts for repeat customers. Live chat.
Governing Law: State Lic.
|
$75.00 | 651% | Great | |
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Available to Wells Checking account holders.
Governing Law: State Lic.
|
$22.50 | 195% | Great | |
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Solid state licensed lender.
Governing Law: State Lic.
|
$75.00 | 651% | Great | |
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Lowest pricing. 25% discount 1st loan. $100 referral.
Governing Law: Anguilla
|
$52.50 | 456% | Fair | |
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Lowest pricing. Repeat customers can save 30%.
Governing Law: Canada
|
$55.86 | 485% | Fair | |
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Lower prices than others. New customers save 25%.
Governing Law: Anguilla
|
$55.86 | 485% | Fair | |
 |
Tribal lender. Upfront disclosures and pricing.
Governing Law: Tribe
|
$90.00 | 782% | Fair | |
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Offers loans in multiple states.
Governing Law: DE
|
$90.00 | 782% | Fair | |
 |
Makes loans based on UT laws.
Governing Law: UT
|
$75.00 | 651% | Fair | |
 |
Recently changed to AmeriCashPlatinum.
Governing Law: DE
|
$90.00 | 782% | Fair | |
 |
Appear to be Canada based.
Governing Law: unlisted
|
$107.94 | 938% | Fair | |
 |
Offer loans in all states.
Governing Law: DE
|
$90.00 | 782% | Fair | |
 |
Very limited information on website.
Governing Law: DE
|
$90.00 | 782% | Bad | |
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Up to $600 for first time borrowers.
Governing Law: Costa Rica
|
$75.00 | 651% | Bad | |
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One of the simplest applications.
Governing Law: Costa Rica
|
$75.00 | 651% | Bad | |
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Appears to be basic tribal based lender.
Governing Law: Tribe
|
? | ? | Fair | |
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Very limited information on website.
Governing Law: unlisted
|
? | ? | Bad | |
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Eligible states not listed.
Governing Law: unlisted
|
$105.00 | 912% | Fair | |
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Charged by FTC: inflating fees and illegal actions
Governing Law: Tribe
|
? | ? | Bad | |
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Charged by FTC: inflating fees and illegal actions.
Governing Law: Tribe
|
? | ? | Bad | |
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Charged by FTC: inflating fees and illegal actions
Governing Law: Tribe
|
? | ? | Bad | |
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F BBB Rating and strong warning.
Governing Law: Tribe
|
? | ? | Bad |