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Getting a quick $500 to $2,500 payday loan with no faxing or paperwork can be easy, if you know where to look. There are tons of new services cropping up each week, but Jim and I decided to compile a test on the most popular and widely-used faxless loan services - we've taken a look at which ones deliver cash quickly, securely, with minimal to no paperwork, and also how much cash was the maximum cash could we borrow from each? After our 3 week test, here's what we found.
Thinkcash is the leading payday loan provider, the site has Google Pagerank of 4 and the company is BBB-accredited. The application process is very quick, there is no paperwork required, and we received a response within minutes of submitting our application. Thinkcash offers interest rates significantly lower than the competition (by about 30%) due to their size and streamlined application and payment system. You can choose your own payment plan, and you can either have funds automatically deducted from your bank account or you can mail in your payments.
You can borrow from $250 to $2,500 from Thinkcash, and the funds are immediately deposited into your account the next business day. Another nice thing about Thinkcash is you can borrow more and more each time you use them, each time you successfully repay a loan, you can borrow more the next time - nice to have this option in your pocket with a trusted provider if you need it. Source: http://www.thinkcash.com.
PayDayOne is another very popular payday loan provider, having served over one million loans. The PayDayOne website has a Google rank of 4 and gets about a million visitors per month. PayDayOne targets people with lower FICO scores - the loan amounts they pay out are lower than other providers, but its easier to get approved. PayDayOne's application process is very quick and we received our response within a few seconds of hitting the submit button. We applied under an account which had a FICO score of 565 and were able to borrow $800.
Funds are deposited via electronic transfer and were available in our checking account the next business day. We had a question about our application and were able to get a live customer support rep on the phone within minutes. It's nice to know there were live people there we could talk to. You can borrow from $100 to $1,000 with PayDayOne. Source: http://www.paydayone.com.
PayDayMax is another top loan provider, their website has a Google Pagerank of 3 and they have been servicing online loans for over 5 years. PayDayMax provides loans of $100 to $1,500 and will deposit funds the same night that you are approved. The approval process is quick, but in some states you may have to send in proof-of-income documentation. We were approved within 10 minutes and had the funds available to withdraw from our checking account the next morning.
PayDayMax also has lower APR rates (averaging 425%, compared to the industry average 610%). PayDayMax also allows you to receive funds at a MoneyGram location such as a Wal-Mart. Click to see if PayDayMax is still offering 50% fees to new customers. Source: http://www.paydaymax.com.
CashCentral is a long-standing payday loan provider and is a popular option for quick and easy loans. CashCentral has lower loan amounts available, but once you get approved for your first loan it is extremely easy to borrow small amounts regularly. It's also easier to get approved on CashCentral than on other sites, we were able to get a $200 loan with a FICO score of 515. Funds are deposited to your account the next business day, provided you get your approval before 6pm Central time.
The application process is quick and it took us a total of 30 minutes to do the applications and get approved. You can borrow from $100 to $500 with CashCentral, and APRs are lower than most payday loan sites, due to the smaller loan amounts and lower risk they take on. Source: http://www.cashcentral.com.
