10 Best Online Payday Loans

Payday loans can help you quickly get some extra cash when you need it. They can be a helpful tool when you need extra money between now and your next paycheck. If you don't qualify for a loan from traditional lenders such as banks, an online payday loan service can be a good source for emergency cash.

Payday loans differ significantly in terms of the fees they charge and their loan requirements. This review of the 10 best online payday loans looks at factors such as their credit score requirements, interest rates, minimum income requirements, and reputation with consumer protection entities such as the Better Business Bureau (BBB). Before choosing one, you should compare a few lenders to see which one best suits you and your financial situation.

1. WeLoans: Best Overall Payday Loan Service
2. AdvanceAmerica: Established Loan Solution Provider
3. MoneyMutual: Best for Fast and Easy Payday Loans
4. BadCreditLoans: Best for Bad Credit Borrowers
5. CashAdvance: Best for Small Amount Cash Advance
6. CashUSA: Best for Lower Loan Rates
7. SpeedyCash: Best for Extensive Payday Loan Choices
8. CashNetUSA: Best for Transparent Services
9. Check Into Cash: Best for Being Able to Pre-Qualify
10. ACE Cash Express: Best for Its Money-Back Guarantee

#1 - WeLoans: Best Overall Payday Loan Service

WeLoans is not itself a direct payday loan lender, but a loan broker. It offers you the benefit of being able to use just one website to find the best possible loans available from several different lenders. All you need to do is fill out one simple form online, and it can then connect you with same-day lenders offering quick loans up to as much as $5,000.

In addition to greatly simplifying the process of getting a same-day payday loan, using WeLoans offers a number of other benefits. First, WeLoans' vast network of trusted online loan services greatly increases your chances of quickly qualifying for a payday loan. Reviews from clients of WeLoans indicate that the odds of you qualifying for a loan from a lender in its network are approximately 90%.

Second, WeLoans protects your financial privacy. It uses first-rate data encryption and only shares your information with a lender. Other notable WeLoans advantages include excellent customer service if you need any help with applying for a loan, and fast service. You can get a loan approved as quickly as within an hour or two and have money in hand by the next business day.

#2 - Advance America: Established Loan Solution Provider

Advance America provides payday loan services in 26 states. It can be a good short-term loan solution, even for borrowers with bad credit. No matter what your credit score is, Advance America may be willing to lend you cash until your next payday.

AdvanceAmerica offers a quick and easy loan application. And one of its primary advantages is that it offers an instant loan approval decision online, so you find out if you're approved for a loan immediately. Once approved, you can often get the money you're borrowing the same day.

The requirements for a payday loan from Advance America are simple. You just need a checking account, a valid ID, and proof of income. The maximum amount of money that you can borrow with an AdvanceAmerica payday loan depends on your income and the specific laws governing loans in your state.

Advance America's public reputation as a lender varies widely, depending on where you look. It doesn't have a high rating from the Better Business Bureau (BBB), but it does have an excellent rating at TrustPilot -- a score of 4.8 out of 5.

#3 - MoneyMutual: Best for Fast and Easy Payday Loans

MoneyMutual is, like WeLoans, not a direct lender itself, but rather a company that can connect you with several different payday lenders through its network of lending partners. Thus, it offers one of the same advantages that WeLoans does -- the ability to get matched with multiple lenders while only having to fill out one loan application form.

MoneyMutual can connect you with lenders that are willing to make short-term loans from $200 up to $5,000. If approved for a loan, the money is usually directly deposited into your bank account within 24 hours.

Getting a loan through a MoneyMutual lender requires a minimum monthly income of at least $800. It does not, however, require good credit. Even borrowers with bad credit may be approved for a payday loan. The available interest rates and loan terms vary according to which lender is willing to grant you a loan.

#4 -- BadCreditLoans: Best for Bad Credit Borrowers

As its name implies, BadCreditLoans is an online payday loan service geared toward helping borrowers with bad credit. It doesn't have any specific requirements in terms of either income or credit score. That translates to good odds of being able to get a loan. The company has very high loan approval rates.

BadCreditLoans is another loan broker company, rather than a direct payday lender. It has a large network of lenders that it works with -- another factor that increases your chance of getting approved for a loan.

One of the advantages of using BadCreditLoans is that it can connect you with lenders willing to provide loans up to as much as $10,000. However, a possible disadvantage if you only need to borrow a couple of hundred dollars is that the lowest loan amount available through BadCreditLoans is $500. That might mean having to borrow -- and pay interest on -- more cash than you need to get to your next payday.

#5 - CashAdvance: Best for Small Amount Cash Advance

You might prefer CashAdvance to BadCreditLoans if you only need a small amount of money. Like BadCreditLoans, CashAdvance helps you secure an online loan of up to $10,000, but it has a lower minimum loan amount -- just $200.

CashAdvance is a credit loan broker credit broker that has been in business for 25 years. That speaks well of both its service and its trustworthiness as a loan resource. It currently operates in 31 states. The company is a member of the Online Lenders Alliance, an organization that sets best business practices for online lenders.

As with other loan brokers, CashAdvance gives you the convenience -- at no charge -- of just filling out one simple application for a loan. It then submits your application to appropriate lenders in its network, the ones most likely to approve you for a loan. You'll then get a complete list of all the lenders willing to work with you. You should compare lenders before taking out a loan, as they will charge different interest rates and fees.

#6 - CashUSA: Best for Lower Loan Rates

CashUSA is a credit broker. It doesn't make loans itself, but connects you with matching lenders that it has affiliate partnerships with. Loans available through CashUSA's network range from $500 up to $10,000. One key advantage that it offers over other payday loan services is the fact that many of its affiliated lenders charge much lower interest rates than other payday loan companies do.

CashUSA has a couple of points in its favor. First, many of the lenders in its network have less strict loan requirements. They look at not just your credit score, but also your work history and how regularly you've been receiving paychecks in determining whether or not to loan you money. The only hard and fast requirements for getting a loan are at least $1,000 monthly income, a checking account, and verifiable home and work telephone numbers.

The lenders in the CashUSA affiliate network don't only do payday loans. Many of them also offer personal loans and lines of credit up to $10,000.

#7 - SpeedyCash: Best for Extensive Payday Loan Choices

SpeedyCash is a payday loan company that offers a wider range of access choices than most online lenders. You can apply for a loan through their website, over the phone, or in person if you live near one of their locations.

You also have a choice of how to receive your money when approved for a loan. You can have it direct-deposited into your bank account or onto your debit card, or pick up the cash at a SpeedyCash store location.

SpeedyCash does payday loans for relatively small amounts. They make loans of between $50 and $1,500. The interest rates and fees vary from state to state, but averages tend to fall in the range of $10-$30 per $100 that you borrow. The Annual Percentage Rate (APR) may be more than 700%.

There are mixed reviews and a number of complaints about SpeedyCash with the BBB -- although it retains an A+ BBB rating. Its TrustPilot score is good, at 4.6 out of 5 stars.

#8 - CashNetUSA: Best for Transparent Services

CashNetUSA is one of the oldest, most well-known online payday loan services -- it's been in business since 2004. It offers payday loans of $100 to $3,000, although the actual maximum amount you can borrow is lower in some of the 30 states where CashNetUSA operates.

CashNetUSA's fees include both a small flat fee for getting a loan and then a set rate per $100 borrowed. In contrast to some payday loan services, the more you borrow, the lower the rate-per-$100-borrowed is. However, the fees may still run as high as the equivalent of a 399% APR. That's high interest, but still lower than what a lot of other payday loan companies charge.

A couple of CashNetUSA pluses are that it's completely transparent about its fees and loan terms, and it offers fast loan application processing, so, if approved, you can often get your loan money the same day.

#9 - Check Into Cash: Best for Being Able to Pre-Qualify

Check Into Cash is a payday lender offering low to moderate-sized payday loans, from $50 up to $1,500. Their finance charges vary according to different state laws, but average between $15-$30 per $100 that you borrow.

Check Into Cash has local stores in 22 of the 28 states where it offers loans. That gives you the option of choosing to pick up your loan cash at one of their locations or having it deposited into your bank account. If you make your loan application early in the day, you can probably get same-day funding if approved for a loan. Otherwise, your loan proceeds should be available within one business day.

A Check Into Cash advantage is that you can pre-qualify for a loan to see how much money you can likely borrow, without having to fill out a whole loan application. Disadvantages for some borrowers may be the company's maximum loan amount of $1,500 and its typical maximum payday loan term in most states, 14 days.

#10 - ACE Cash Express: Best for Its Satisfaction Guarantee

ACE Cash Express is a payday lender that provides cash advances to customers both online and through their retail locations in 25 states in America. They have been operating for more than 50 years and have become one of the most known payday loan providers in the country.

ACE Cash Express offers a variety of financial products and services to meet the needs of its customers. You can take out payday loans or installment loans from them. The loan amount you can get for a payday loan from them varies, depending on whether you're borrowing online or in-store. Generally, it ranges from $100 to $1,500 online, and $100 to $660 in the stores. 

ACE Cash Express claims that "every loan comes with a 72-hour satisfaction guarantee". That means you can return their loan if you don't like it within 72 hours of borrowing, a suitable feature if you want to test out their services with low risk.

Why Did We Choose These Payday Loan Services?

The online payday loan organizations included in this review of the 10 best online payday lenders were chosen to present a variety of choices among some of the recognized top payday lenders.

This review offers a look at several different payday lenders that have different advantages and disadvantages, to help you find the best lender for your particular loan needs. All of the companies reviewed here offer fast, easy loan application services, and often same-day delivery of loan money.

Do They Accept Bad Credit Borrowers?

All of the payday loan companies included in this review accept borrowers who may have bad credit or no established credit. The exact credit score and other requirements to qualify for a payday loan vary significantly from one payday lender to another.

However, nearly all payday loan services are willing to consider making loans to borrowers regardless of their credit score. But note that your credit score will likely impact the interest rate you have to pay to borrow money.

What are Things to Avoid When Borrowing from Payday Loan Services?

It's a good idea to check out a payday loan company's rating with consumer protection organizations such as the Better Business Bureau, TrustPilot, and TrustLink. The online review comments from individuals who have actually used a company's payday loan services often provide some of the most helpful information on how a company operates and how trustworthy it is. Avoid borrowing from companies with very negative reputations.

Avoid entering into any loan agreement without first carefully checking all of the fees, interest rates, and terms of the loan offered. Also, try to avoid rolling over a payday loan to an additional pay period, as that can end up costing you a small fortune in loan interest.

Finally, make sure that you stick to the loan terms. For example, if the payday loan company is expecting to get repayment by withdrawing money from your bank account on your next payday, make sure that there's enough money in your account to cover the loan repayment. That way you can avoid any late payment or other penalty fees the company might charge you.

The Bottom Line

There are plenty of online payday loan services to choose from, although not all of the companies listed in this review of the 10 best payday lenders may be licensed to operate in your state. They vary significantly in terms of what their loan qualifications are, their loan fees and rates, and how much money they're willing to lend you till your next payday.

Before taking out a loan, do your own careful research comparing the different loan options that are available to you.