Who Is CashUSA.com For?
CashUSA’s ideal borrower is just about anyone who needs a loan quickly and reliably. The brand works with a wide range of reputable lenders and just as many approval criteria.
The reasons for getting a personal loan can range from paying off unexpected medical bills to taking a vacation or any other purchase. Why you need a loan is unlikely to affect your chance of getting it, even if lenders ask for it.
Many CashUSA reviews pigeonhole it with bad credit lenders because it doesn’t have a credit score requirement to submit applications. But in reality, you may qualify for loan terms with CashUSA just as favorable as some of the most highly-rated lenders.
CashUSA also partners with lenders who have no prepayment penalties. So you can even use a loan from CashUSA to build your credit under the right circumstances.
Does that sound like what you need so far?
If so, keep reading to find out a little more about the company.
CashUSA Review In a Nutshell
CashUSA is one of many lending platforms, or loan networks, that act as intermediaries between loan originators and borrowers.
In other words, it partners with many lenders to let you reach all of them with a single application instead of going to each individually. Thus, CashUSA is not a direct lender; your loan agreement will ultimately be with one of its lending partners.
The main advantage this sort of approach provides is that it saves you a lot of time. It also gives you access to some lenders you otherwise wouldn’t have found.
However, it’s also a somewhat impersonal way of getting a loan, as you’ll find out in the rest of this review for CashUSA.
In short, the site feeds your information into the “machine,” and you’re either approved or excluded from loans based on numbers alone.
Despite the universal drawback of this type of service, CashUSA is one of the best lending networks around. It has been around for 17 years, and it has a reputation for working with credible and reliable lenders.
Some CashUSA loan reviews, unfortunately, categorize it as a payday loan provider, which is inaccurate. Besides not being a direct lender, to begin with, CashUSA works with lenders to offer installment loans that adhere to state and federal APR restrictions.
CashUSA Loan Application
The application process for a personal loan through CashUSA is exceedingly simple.
First, you start by filling out a form on the CashUSA.com website.
These are the basic requirements to apply:
- 18 years or older
- Minimum income of $1,000 a month after taxes
- Owning a checking account
- Valid phone number and email address
- Having a US citizenship or permanent resident card
The form will start by asking you for your ZIP code, year of birth, and last four digits of your social security number.
Now, as other CashUSA loans reviews point out, it doesn’t charge any fees for connecting you with a lender. However, each lender may have costs associated with its loan.
Once you get through the initial form, you’ll continue to provide personal information. This information is similar to what you would have to provide for any other loans.
The form will ask for your credit once you request a loan amount.
Having bad credit doesn’t exclude you from applying for loans from CashUSA. In fact, CashUSA states your credit score doesn’t affect your loan terms in any way.
Then, you’ll need to select a reason for the loan.CashUSA loans reviews the loan’s motivation to connect you with a lender specializing in your type of loan.
Reasons include, but are not limited to:
- Debt consolidation
- Auto repair
- Home improvement
- Major purchase
Other information you’ll need to provide includes your income, how long you’ve been employed, and your employer’s name.
It’s all fairly self-explanatory, and once finished, CashUSA will forward your application to lenders.
The process will also create a Cash USA login account, so you can come back and keep working on your application later.
Once a lender approves your loan, you’ll receive the loan’s terms to review. The terms will include interest rates, fees, rollover charges, and other details so make sure you carefully review any loan agreement before signing it. Sometimes, it would be wise to check first with a credit repair company if you are only looking for the ways of improving the credit score.
Remember, you’re not required to accept any loan offers. But once you e-sign the agreement and the lender transfers your funds, the agreement is struck.
CashUSA Main Features
That’s what it takes to get a loan going. Next up in our CashUSA loan review, we’ll look at some of the main features of the service and its approach to loans.
Rates and Fees
CashUSA.com doesn’t charge any fees to connect you with lenders. Instead, it receives a payment from lenders to participate in its service.
That’s another way of saying that you won’t know if your loan has origination fees and other associates charges until you’re approved. Every lender sets its own terms, and CashUSA doesn’t get involved in that part of the agreement.
It also means CashUSA doesn’t set the loan’s interest rate.
Moreover, your financial information may impact the amount and presence of any fees associated with your loan.
But while this CashUSA review can’t provide you with any specifics about your particular loan, we can show you what an example loan would look like from a CashUSA lending partner.
Suppose you need to borrow $5,000 and you’re approved for a loan with an 18.9% APR over three years. You’d make payments of $179.35 every month for a total repayment amount of $6,456.68.
CashUSA provides a contact form you can use to reach its support team with any questions and concerns. You can also call the toll-free Cash USA phone number, 866-973-6587, during business hours. And, you can email [email protected].
CashUSA’s mailing address is:
3315 E Russel Rd Ste A-4 Box #105,
Las Vegas, NV 89120
However, you should note that CashUSA will not be able to help you regarding the terms of your loan or repayment options. For questions or concerns about your loan, contact the loan originator directly.
CashUSA.com, along with the vast majority of CashUSA loan reviews, highlight its top-notch security. And you certainly want a secure service when you’re sharing such sensitive information.
Still, the company’s somewhat vague about how it secures your information.
The most specific detail they reveal regarding their security measures is that it uses 128-bit encryption for any disclosures and records.
Now, is that a bad thing?
128-bit encryption is, as most CashUSA loan reviews point out, the industry-standard encryption protocol. Your information should be relatively safe, even though CashUSA.com could be a little more transparent about its security measures.
CashUSA.com doesn’t collect or share the following personally identifiable information:
- Passport number
- Medical information
- Health insurance information
- Any physically identifying characteristics
Moreover, it gives itself ample room to share and sell your information. Nevertheless, you can request from the company not to share your information, and it’s a good idea to do so by contacting them by phone or email after completing your application.
Most negative user CashUSA reviews on the BBB pertain to information sharing and use. You can nip those problems in the bud by telling CashUSA.com what information you allow it to use and share.
CashUSA is one of the best lending marketplaces in terms of what it demands from lenders.
The company requires any lender who works with it to observe and follow the Fair Debt Collection Practices Act as put forth by the FTC. Namely:
- Lenders can’t harass you or use abusive language when contacting you.
- Lenders cannot use deceptive practices to attempt debt collection.
- Lenders cannot contact you before 8 AM or after 9 PM.
- Lenders cannot attempt to contact you at an unusual or inconvenient place.
- If a lender or debt collector knows you have legal representation, they’re usually required to stop contacting you directly.
In the USA, many cash loan services review lending partners quite liberally, but that can’t be said for CashUSA.
With CashUSA, all lenders must provide all loan information in writing to you, per the Truth in Lending Act.
Lastly, lenders have to respect fair lending practices as described in the Dodd-Frank Wall Street Reform Act. In short, that means lenders have to provide fair and equitable access to credit.
Key Takeaways of Our CashUSA Reviews
If you need a fast loan without the hassle of applying to numerous lenders individually, CashUSA.com is an excellent choice.
It works with many lenders that specialize in just about every type of loan to boost your personal finances. And since each lender has different selection criteria, you’re likely to get a wide range of loan options from your single application through CashUSA.
Plus, there’s no credit score requirement to apply for a loan, and the service is free to use.
You’ll be hard-pressed to find a single CashUSA loan review that categorically pans the service. Most users end up with some version of an acceptable loan for their purposes.
Nevertheless — and we cannot stress this enough — a loan agreement is a legally binding contract, and you should go over all its terms with a fine-tooth comb.
Pros & Cons
- No a minimum credit score requirement
- A quick and easy application process
- Receive funds directly to your bank account
- Enforces the Fair Debt Collection Practices Act with all lenders
- No application fees
- Requires lenders to disclose all loan terms and conditions
- Doesn’t allow concurrent loans
- Relatively few CashUSA reviews from customers
- Not available in all states
Is CashUSA safe?
On the whole, yes. CashUSA is a secure lending marketplace with industry-standard safety and security protocols. It only works with reputable lenders who agree to adhere to its standards, so there’s little to worry about in that aspect as well.
Does CashUSA check credit?
CashUSA will make a soft credit inquiry at the time you complete a loan request. That inquiry won’t affect your credit score.
However, when CashUSA.com connects you with a lender, that lender may perform a hard credit inquiry to complete its loan offer to you. Hard pulls will be listed on your credit report and can affect your credit score
Where can I find Cash USA near me?
CashUSA.com is an online lending marketplace and does not provide services from its physical location, nor does it have regular office hours.
If you need to speak with someone about your loan, contact the lender directly. You’ll find the lender’s contact information on your loan agreement.
Is CashUSA legit?
Yes, in every sense that an online lending marketplace can be legit.
CashUSA.com works with reputable lenders, does its best to disclose every aspect of its application process, and has good security features.
You can find out more specific information about each of these elements, and more, from the CashUSA reviews in this article.