Top Payday Loan Companies

Taking out a payday loan is probably the last thing you ever expected, yet you're in a tight spot with no other options. Your car quit or a pipe burst and you don't get your paycheck for a week or two. Plumbers and auto mechanics rarely agree to be paid weeks after they've completed the work. You're not alone. Many have run out of options and need a payday loan, but they do not know who to trust. Here's an honest look at the fees and restrictions for many of today's payday loan companies. Note that loan rates are subject to change and are based on rates as of April 18, 2016.

Action Payday Loans

Action Payday makes it simple to apply for a payday loan. The application is just a few questions. There is a maximum loan amount of $500, but after your first loan with the company, they will increase the amount of money you can borrow in the future, providing you pay the money back on time. The rate depends on how much you borrow and for how long. If you borrow $500 for 14 days, you will pay $150 in interest.

Advance America Payday Loan Online

Advance America offers payday loans online to residents of California and Rhode Island. There is a limit of $450 for a payday loan in Rhode Island and that loan requires a $45 finance charge. In California, you can borrow up to $255. For this loan, you will pay $45 as a finance charge too. These 14-day cash loans require proof that you have a checking account, a valid SSN, two forms of ID, and a paycheck stub.

Cash Store Payday Loan

Cash Store offers cash advance payday loans of up to $865 in Idaho, Illinois, Michigan (lower limit of $600 for Michigan residents), and Texas. You must have a checking account, current state ID, and paycheck stub. Repayment must be made in 14 days. APRs for Cash Store payday loans vary from state to state but range from 330 to 780%.

Cash to You Payday Loans

A Cash-2-U payday loan does not require any credit check and offers Virginia title loans of up to $10,000. The interest rate you pay is determined by the amount you borrow. Loans of up to $700 comes with a 22% interest rate. For loans of $701 to $1,400, the interest rate lowers to 18%. Finally, loans of more than $1,400 have a 15% interest rate.

First Cash Advance

First Cash Advance payday loans are available online and in stores throughout the U.S., including California, Maryland, Texas, and Washington D.C. To qualify for an online payday loan, you also must have at least $500 a month in income, a valid phone number, and reside in the state of Texas. Payday loan interest rates and fees depend on the repayment date and how much you wish to borrow, but for an online payday loan of $500, the fees range from $120 to $150. There is a maximum loan amount of $1,000 for online payday loans.

It's clear that interest rates for payday loans cover a wide margin. To get the best possible loan value, use a service like Easy AZ Loans that submits your information to multiple loan companies and then reports back to you with the rates. This allows you to shop around for the best deal and make the payday loan companies compete for your business.