Emergency events connected with finances often make us feel trapped because it’s hard to predict how much money you may need in the Future. Let’s study one more lender that provides people with extra cash when they need to cover various unexpected expenses. AmeriCash is a company established over 20 years ago, in 1997. It’s based in Des Plains, the city located in Illinois.
This lender doesn’t provide classic loans but it has installment loans with a longer money-return period. It also has over 50 land-based stores that may be found in Wisconsin, Illinois, South Carolina, Oklahoma, and Missouri. People who prefer online services and don’t want to go anywhere and pass different application procedures can use their Web offers provided in Kansas, Minnesota, Arkansas, Illinois, Michigan, Wisconsin, Illinois, Iowa, Florida, and Indiana.
The sums they may provide to a client depend on the territory you’re based in. This amount is starting at $ 50 and rises up to $ 4 000. The period you can use for repayment is also determined according to a consumer’s location. The longest term they offer is 18 months. AmeriCash has attractive APR rates which are rather lower than traditional lenders provide. But they vary up to over 500 %.
The lender also wants to protect people from scam schemes and keep them away from risk to lose money. They know that their name is often used by unfair organizations and want you to be careful when someone is asking you to give cash and receive a loan. AmeriCash asks people to call (888) 907-4227 in case they notice scams.
Advantages of AmeriCash
Like many other lenders, AmeriCash has advantages and things a potential client has to pay attention to. In case you don’t know which company to choose and where to borrow extra cash, conduct research that will help you to find all the pros and cons. And here are the strongest advantages of this lender:
- transparent operations;
- referral scheme;
- absence of fees when a client wants to repay earlier.
AmeriCash strives for clearness of all processes and it’s likely it prepared everything to acquaint a future client with its offers. For example, their website contains information about their fees and rates, regulation documents and certifications, loans, and legal info. They don’t hide it anywhere and provide a user with a chance to find the needed data quickly without time loss. Some other lenders don’t give this info or even when they do, a person has to make an effort to come across it.
AmeriCash offers its consumers an encouraging program that increases the borrower’s experience. You can tell your friend or relative about its product and explain how everything works here. In case he or she applies for a loan and gets an approval through your ID number or special link, a lender grants you with around $ 100. And your friend or relative receives credit in the amount of $ 50 for a next loan.
Absence of Early Money-Return Fees
AmeriCash gives a consumer a chance to select the most convenient money-return conditions. You can choose from the offered methods and repay the money according to your terms. For example, the lender provides clients with the chance to cover loans by keeping their personal schedules. Another choice is connected with early repayment which is available when you want to return the borrowed sum earlier. It’s a nice decision if you don’t want to wait for a deadline or set date to give the money back. AmeriCash doesn’t provide fees for an early cash return. Besides, you can pay the set sum by portion or a full amount.
Disadvantages of AmeriCash
Now, it’s time to read about their bad sides and decide if this lender is definitely what you need. Of course, its options are helpful when you don’t have any other choices but need to cover various expenses immediately. Here’s their most frustrating disadvantage:
- APR charges.
It’s the problem and disadvantage of many lenders providing loans to people. AmeriCash belongs to them and it’s true that their rates may seem too high for people who want to take credit and cope with their unexpected expenses. Although the lender provides non-traditional loans and it has longer money return terms and these percentages are not as large as short-term offers, they are still hard to repay. The set rate is often unbearable for a person who desires to get rid of debt and cope with it as soon as it’s possible. Mention that this sum may vary according to your location. They set rates by keeping state laws that regulate lending operations. The highest rate of AmeriCash is 521 %. It’s worth comparing with the interest rate of around $ 1000. Although their terms are affordable ones, you can be surprised by a charge they prescribe you. Not every client is able to cope with rates the lender determines. It’s better to calculate your salary income and how much money you’ll have to give back to the lender. Otherwise, a great surprise is likely to wait for a person who won’t study his loan.
AmeriCash is the US lender with over 20 years of professional experience. It offers people to visit the stores located in 5 states or create an application online and receive the desired extra cash quickly. AmeriCash is a rather reliable option to refill a budget and cope with temporary complexities that often become a surprise for us. Their offers don’t look like classic payday loans returned shortly. You can take a loan of this lender and repay it according to longer period conditions. There’s the chance to give the money back earlier by portions or a full sum. That is very convenient and the lender doesn’t provide fees to people desiring to return funds quicker. But their APR rates are rather high and the sum you’ll need to return may become larger than you expected.