CashUSA is not a direct lender. Instead, it represents a network of lenders that connects borrowers with personal loans. The major differentiator with them is that they cater to individuals with a bad credit score, so if you need a loan but may not qualify with other websites, it’s worth checking out CashUSA.com.
Each direct lender offers different rates and terms, so it’s important to carefully review them if you receive a loan offer. You’ll also notice different terms based on where you live since lending laws are different in each state.
The process is quick and easy. Keep reading to see if you qualify and what kind of loans you could potentially receive through CashUSA.com.
CashUSA.com offers personal loans up to $10,000. The minimum loan amount you can borrow is $500. Loan amounts depend on your credit score, the lender, and the state. The funds can be used for several purposes, including debt consolidation, a vacation, or a home renovation project.
Since CashUSA.com has relationships with multiple lenders, the interest rates can vary anywhere between 5.99% and 35.99%. While these may seem like high interest rates, they’re still much lower than payday loans. In addition, loan terms last between 90 days and 72 months, so there’s quite a bit of flexibility in finding the monthly payment that works for you.
All of the loans through CashUSA are installment loans, so you get peace of mind knowing that you have a set payoff date.
CashUSA does not have a minimum credit score requirement. They accept borrowers of all types, with a particular specialization in bad credit loans. So no matter your credit score, you have the chance of finding a lender who’s willing to work with you.
So what are the exact qualifications for a CashUSA personal loan? First and foremost, you have to be at least 18 years old, plus a U.S. citizen or permanent resident. Next, you’ll need to have a checking account in your name so you can have the loan funds deposited.
What are the income requirements for CashUSA.com?
Your after-tax monthly earning should total at least $1,000, and it needs to be a steady income. Finally, you need to supply CashUSA.com with three valid pieces of contact information:
- Email address
- Home phone number
- Work phone number
If you meet these basic requirements, you could be eligible for a CashUSA loan through the online lending marketplace and may want to submit a loan request via the online form.
CashUSA Application Process
The CashUSA loan request process is quick, convenient, and, most importantly, secure. It takes just a few minutes to fill out the online form, and once you’re approved for a loan, you could receive your funds in as little as a single business day.
To expedite the loan request process, have your bank account information and other personal information on hand.
After you submit your information, CashUSA.com will do a soft credit pull. Then, it searches its lender network to find a loan connection for you. When that happens, you’ll then be sent directly to the lender’s website, where you can view the details of your loan offer.
You can then review the loan terms, including your monthly payment amount, to see if they work for you. There’s no obligation to accept the loan, so you can really think about whether or not it’s in your best interest.
If it is, you can accept the offer online by signing an electronic loan agreement. After that, it’s just a matter of time until you receive your loan funds directly into your bank account.
CashUSA.com’s loan request process truly is quick and easy. If you know you want to submit a request for a personal loan online, you’ll need your checking account number, routing number, monthly income, and your social security number. This makes the process even faster so you can quickly get the funds you need.
Once You’re Approved
Depending on the lender, you could get your money in one business day. You may need to provide verification documents, like bank statements and pay stubs, so CashUSA.com has an accurate picture of your income. Again, pulling all of this information early on can really make the funding process go more quickly.
So what happens after you receive your loan funds?
The answer is two things, really. First, you can start spending your money on your intended purpose as soon as the cash hits your bank account. Second, you’ll start making monthly payments directly to your lender.
Repayment happens as automatic deductions from your account on the designated due date each month. Therefore, it’s important to make sure you have those funds in there every time so that you can avoid overdrafting and/or late fees.
Check with your chosen lender on their specific policies on handling late payments. If you know you won’t have the cash available on your due date, call them as soon as possible to discuss your options. Make sure you review their late fees and interest rate before accepting a loan offer.
CashUSA Special Features
When selecting a loan through the CashUSA network, you get to take advantage of several different special features. The first is rapid request processing, which allows your request to be reviewed almost instantaneously. This is much faster than when applying for a loan through a traditional bank.
You also get the promise of secure transactions, so you can rest assured that your personal information is safely guarded. CashUSA uses the most advanced encryption technology. They also perform daily tests to make sure that information is safe and secure.
CashUSA also prides itself on its easy auto-repay function. Yes, you need to make sure you have the funds in your account, but the feature does come with some major perks.
You don’t have to worry about going to a physical storefront to make your payment each month. And you also don’t have to worry about whether the payment will reach the lender in time or if there’s a fee for using a check or credit card.
All of these features, plus great customer service, make CashUSA.com a convenient and secure way to take out an online personal loan.
One of the best ways to research online personal loan lenders is by reading third-party reviews. You can discover what actual customers are saying about them before you choose to do business with them.
CashUSA currently has a Better Business Bureau (BBB) rating of F. However, they also have very few complaints. You can find more positive CashUSA reviews at other review sites as well.
What to Know About CashUSA’s Installment Loans
Before you get started, take a few moments to pause and assess your financial needs. That way, you can ensure you can make the best decision both in the short term and the long term.
When you get a loan offer from a lender in CashUSA’s partner network, make some comparisons to see if you’ll save money in interest over the long term. Also, see how the monthly payment amount compares to your current minimum payments on your credit card. If the number is a lot higher, make sure you can afford the change.
Check out our other personal loan reviews below to continue exploring your options.