Need urgent cash for a medical bill, car repair or even a surprise bill?
CashUSA connects you to companies offering personal loans that can pull you out of the mud in a simple, safe, and reliable process.
You can get a quick loan of up to $10,000 and a repayment period of up to 72 months.
The platform won't offer you a loan or finance it - CashUSA will only refer you to financing institutions in the field, who will, in turn, give you the loan.
With the recent crazy inflation…
Wouldn’t you want to know how this heaven-sent lending service works?
CashUSA Pros
- It is a free service
- Represents various lenders
- Safe and secure cash
- Timely service
- Long history of success
- Only needs a soft credit inquiry to initiate personal loan
CashUSA Cons
- Limited loan amount ($500-$10,000)
- No direct loans
- Might share your information with third-party advertisers
What Type of Loans Does CashUSA Offer?
Through its network of lenders, CashUSA offers you various services, including personal loans and lines of credit, depending on your credit score, state, and individual loan agreement with the lenders.
a. Personal Loans
This is a type of personal installment loan offered by some lending institutions and has to be repaid within an agreed period through monthly deposits.
You can use this loan for just about anything ranging from medical emergencies, travel expenses, auto purchases, or home repairs.
A personal loan is always meant to be repaid in regular monthly payments. The loan's interest varies between different lenders and is presented in the loan terms before you apply.
It is also widely referred to as an installment loan because you basically have to repay through small monthly payments as installments.
Note that CashUSA does not offer direct loans. Therefore, the loan repayment terms will significantly vary depending on the online lender you choose to deal with.
Also, repayment can take as long as 6 years, depending on the amount of money you borrowed plus your overall credit score. The repayment period is generally more extended than what you’d get from a payday lender - giving you ample time to work on it.
This online lending marketplace connects borrowers to several personal loan lenders who’ll almost always approve your request regardless of your credit history.
Now, CashUSA offers a minimum loan amount of $500 and a maximum loan of up to $10,000 which can be credited to your bank account within 1 business day.
CashUSA loans also have an average APR of 5.99% - 35.99%. This is slightly higher than what you’ll get from a traditional personal loan, but it covers the added risks.
b. Line of Credit
Unlike a personal loan, a Line of Credit is a borrowing limit agreed upon between lender and borrower. The borrower can access a preset maximum loan limit and withdraw anytime as long as the LOC is open.
It works like a credit card. The only difference is that their interest rates are usually lower than credit cards.
Multiple lenders at CashUSA loans offer LOC financial products to bail you out of an unforeseen jam.
You can write cheques and use your credit card to make purchases and pay for services within the set limit.
The interest is charged on the money you spend, and settling your balance replenishes your available credit.
This is pretty convenient if you ask me.
With personal LOCs, you can borrow and repay money as you wish within a specified draw period.
When this draw period lapses, the repayment period comes in, where you cannot borrow anymore and need to repay your balance.
Closer Look at CashUSA & Its Features
CashUSA is an online loan broker that connects you with various suitable financial companies that offer unsecured personal loans despite your credit history.
The lending companies will review the application and send back an offer if your loan request is approved. You will likely get more than one offer from the financial institutions registered at CashUSA loans.
The lender will offer you a loan with a specific fee and interest rate for your consideration. Be advised that some lenders may charge origination fees, but not all of them do.
Other stand-out features include:
a. Flexible APR
CashUSA’s Annual Percentage Rates (APR) are charged at varying rates between the various lenders. Generally, most of them usually charge between 5.99% to 35.99%.
You should also know that CashUSA does not dictate the APR rate since it only acts as an online lending marketplace that connects borrowers and lenders.
b. Repayment Period
CashUSA loan repayment period may vary from your specific personal loan terms and qualifications but mostly range between 90 days to 72 months.
Once you accept the official loan offer, you’ll be most likely required to make monthly payments for the duration agreed upon between you and the actual lender.
You should know that you are in no way obligated to accept the terms of the offers you receive. If unsatisfied with the loan offer, you can decline them at will.
c. Loan Amount
CashUSA can help you get a maximum loan amount of $10,000 if you have a not-so-terrible credit score.
However, their minimum loan amount rests at about $500, which is probably decent compared to other credit services.
d. Privacy Policy
CashUSA will send you more financial information via email and might share your details with their marketing partners, who will send you promotional offers or better loan services.
And although this might not sit well with most people, you can always opt out of the promotional messages by selecting ‘Unsubscribe’in the email thread.
If you are worried about how CashUSA might use the data you provide, you can check their Privacy Policy, as it addresses all of your data security concerns.
e. Security
CashUSA uses industry-standard 256-bit SSL encryption to secure your financial information.
They also ensure that they only connect borrowers to lenders who provide loans from their own accounts and not through third-party financers like other loan services.
f. Timely Service
Your loan request through CashUSA will only take minutes. Bureaucracies will not stall you as traditional personal loans and will be reviewed in the fastest time possible.
Typically, you can get loan approval and subsequent deposit into your bank account within one business day.
That’s one of the main reasons why many people with poor credit seek CashUSA’s personal installment loans.
g. No Minimum Credit Score Required (Yay!)
When applying for a loan via CashUSA, you don’t have to provide your credit score since the whole aim of the service is to offer loans to people with bad credit scores.
The platform may only perform a soft credit pull when you sign up, but that won’t affect your credit score.
h. Educational Resources
CashUSA has an applicable 'Education Center' section with multiple pages of tips and nuggets on budgeting your debt and earnings.
You can also learn about the credit score system and how to check your loan offer after a successful registration. You’ll also get helpful information about determining your financial priorities, managing debts, and many more financial blog posts.
i. Fines and Fees
CashUSA does not charge you any fees when making a personal loan request. The service gets revenue from its affiliated lenders once you get successful loan approval.
On the other hand…
The lenders have different interest fees, penalties, etc., that I advise you to look up before settling for a loan.
How to Get Started With CashUSA
1. Submit Your Loan Request
To get a CashUSA personal loan, you’ll have to submit an online form stating the loan amount you need. You’ll also have to mention the reason for the loan, which you can choose from a drop-down menu.
The purpose of the loan doesn’t really affect your success rate or loan offer, and you can choose between:
- Debt consolidation
- Business
- Taxes
- Vacation
- Auto repair/purchase
- Home improvement
- Medical
- Weddings, etc.
Afterward, you’ll have to fill out your personal information, including your year of birth, Social Security Number, and zip code.
After completing that online form, click the ‘Get Started’ button.It will direct you to a different page, where you will now fill out your official loan request.
2. Fill In Your Identification Details
You will then give out your current contacts, rented/permanent address, employment information, income source, and your identity details for verification.
The final step is providing your bank account information for the loan deposit once you agree to the loan terms.
To qualify for a loan application, you need to:
- Be above 18 years old,
- Be a US citizen or permanent resident
- Have an active checking account
- Provide accurate, current phone numbers and emails
- Have been employed for at least 90 days
- Earn at least $1000/month after taxes.
This process only takes a few minutes, and then you’ll wait to receive offers.
Applying for the loan automatically triggers the lender to do a credit check on you. This reveals your credit score and other credit information.
3. Review Loan Offers
CashUSA sends your completed form to multiple online payday lenders simultaneously, so you can have numerous options to choose from.
After reviewing your information and qualifications, you will receive offers from different lenders having different loan details. Before applying for any loan, review the terms and interest rates to ensure they favor you.
4. Accept an Offer
Once you accept an offer, you will sign the documents using an e-signature and wait for the money to be remitted to your bank account.
Depending on how fast your suitability checks out, some lenders may avail your loan by the next business day.
CashUSA: Customer CashUSA Reviews
After scouring the web for other users’ reviews, we noticed that no one complained about the service’s ability to deliver what they offer, i.e., quick, no-hard-questions-asked loans.
And that’s a big plus.
Nonetheless, as I hinted above, some people did not like CashUSA sharing their information with third parties who, in turn, sell other financial products to them.
One reviewer said:
“Looks to be a data collector in order to sell the info. They're not trying to hide that but beware if you're entering personal information.”
- Dan
Many shared these sentiments, but the site has solidly earned its name as a top platform where bad credit lenders can easily access funds.
You just have to understand that CashUSA does not give out loans; it’s a bridge linking you (the borrower) and other financial services (lenders).
CashUSA Alternatives:
1. MoneyMutual
MoneyMutual is an online marketplace offering simple, quick, and secure access to 60 different viable online payday loan lenders.
Since its founding in 2010, it has served 2M+ satisfied clients in need of cash advances, payday loans, or personal and business installment loans.
It's an excellent alternative for quick cash injection whenever you are short on money or have an emergency.
MoneyMutual lets you borrow between$100 to $5000 and can have it processed within 24hrs.
It only takes a few minutes to fill in the request form that requires your personal information. At your request, MoneyMutual will share your information with their various lenders for review.
This process takes a shorter time for returning customers since their information is already available.
The service is entirely free. MoneyMutual does not charge you to fill and submit requests. Just like CashUSA, the lending companies are the ones that pay them to work with you.
MoneyMutual doesn't also determine how much money you are eligible for, the loan terms, and rates. Your business with them ends when you receive a loan offer, which directs you to the lender's website.
You can also access educational material and learn about different types of fast loans on their website.
2. BadCreditLoans
BadCreditLoans exists to bail you out of a fix in a breeze.
They have partnered with loads of financial businesses that gladly lend money to people without access to traditional loans.
You can get a$10,000maximum loan amount depending on your credit score and whether you’re willing to accept the loan term.
To be eligible for a loan at BadCreditLoans, you must:
- Be 18+ years old
- Have a valid email address
- Provide home and work telephone numbers
- Have a legal residency address or an SSN (to prove your citizenship)
- Hold a working checking account under your name
- Have a form of regular income
Once you provide this information, BadCreditLoans can process your bad credit loan request within 24 hours.
The terms of repayment lie between you and the lender, and you have the right to weigh between the several offers provided and pick that which suits you best.
That said, the lenders can let you repay the loan within 90 days - 6 years and have an average APR of about $5.99% - 35.99%.
3. PersonalLoans™
Personal Loans™ hooks you up with a fast, hassle-free loan ranging between$1,000 to $35,000.
It is not a direct lender, and like its alternative online referral services, it only links you with a lender that agrees to loan you the cash.
It is also a free service with no hidden fees and zero upfront costs, so you don't have to worry about borrowing money to be able to borrow more. (That never made sense anyway)
Instead of stacking up paperwork on your desk, there’s an online form available, and it only takes a few minutes to fill and submit.
Once you do that, PL sends it to different lenders for review. If you qualify and are approved, you could have the money wired within a business day.
Most lenders at Personal Loans™ link you with varying rates ranging between 5.99% - 35.99%, repayable in a minimum of 3 months and a maximum of 72 months.
The loan rates you get will depend on the sum you’re requesting, your credit score, and your history - so they may vary from person to person.
When you use the Personal Loans™ service, you are also given access to various credit-related offers, products, and services that may interest you.
CashUSA Review: FAQs
How Does CashUSA Work?
CashUSA works with a network of lending companies that offer quick, short-term loans.
They are not involved in giving direct loans, so they only take your loan request and personal information and present it before their network of companies that offer personal loans.
CashUSA does not charge any fees for requesting a loan, and you can have loan offers coming in within a day of submitting a request.
The loan's interest rates depend on how much you request, your bad credit score, and the lender crediting you the funds. You should also know that CashUSA doesn't regulate these rates.
What Is CashUSA?
CashUSA loan is an online platform that helps borrowers with bad credit request quick personal or LOC loans of up to $10,000 from various lenders in the USA.
They are an independent company linking borrowers to lenders for free and don't offer loans or loan interest rates.
Is CashUSA A Legit Company?
Yes, CashUSA is not a scam. It is a bonafide loan connection company.
It helps people with bad credit scores who can’t get loans from a traditional bank system to access good loans at great rates from other lenders.
Does CashUSA Do A Credit Check?
Yes. Requesting a loan via CasUSA triggers them into making a soft credit inquiry against your name.
This will produce just as much information as a full inquiry. Only it will be a summarized version of your loans, lines of credit, payment history, tax information, and other public records in your name.
According to their website information, some members of their lender network may choose to conduct a non-traditional credit check. This is only a formality, but the actions taken by the lender when you fail to pay your loan have implications on your credit score.
This is because the lender may report you to one of the major credit reporting agencies, e.g., Experian, TransUnion, and Equifax.
Does CashUSA Call Your Employer?
No, CashUSA is not a loan provider, so they are not bound under your loan agreement to contact your employer.
The lender you borrowed money from gives you their terms for repayment, late payments, and nonpayment, respectively. They’ll only call your employer when you have a severe defaulting case (which I hope you’ll not).
However, CashUSA works with lenders who reasonably handle such issues, and calling your employer is not one of them.
Is CashUSA A Direct Lender?
CashUSA is not a direct lender. The company is an online marketplace that connects borrowers to lenders.
They only take loan requests and present them to lending companies on your behalf. Once you receive an offer and accept it, your business with them is done.
CashUSA Loans - Takeaway
No one plans for emergencies, so don’t gloom when you are low on cash.
CashUSA offers one of the best fast loans in the market, and there’s no tangible evidence to prove otherwise.
The signup process is snappy and does not involve you making endless trips to a physical office to deliver your ‘papers’ for review.
The site gives you countless lenders to pick from, giving you numerous loan offers to consider for your situation.
No more selling your soul for a favor or smashing your kids' home bank for a few extra dollars…
With only a few clicks of a button and a little patience, you can get a loan approval of up to $10 grand.
And that could bail you out in style!
Hope this was helpful…
