PayDayMax Review: How PayDayMax Works, My Review
PayDayMax is a top loan provider and provides easy access to payday loans through its streamlined approval process. The company specializes in quick turnaround time and lower APRs. They service a large volume of loans and can provide discounts due to their size and scale.
What's required to be approved?
The application is online and you'll need a minimum credit score / FICO of 570 to apply. You also need a currently paying job with income of at least $1,000 per month. When I applied I was approved quickly after submitting my application (within 10 minutes or so) and the funds were transferred and available in my account the next morning. You need to submit your application by 1pm Central time in order to get your funds the next day.
How much can I borrow?
PayDayMax provides loans of $100 to $1,500 and will deposit funds the same night that you are approved. In most cases you can't qualify for more than $1,000 unless you've used PayDayMax before, but once you get your first loan approved, you can continue borrowing amounts up to $1,500 with no approval.
How do I pay my loan back?
With PayDayMax you set the date on which you'd like to pay the loan back, and the funds are deducted from your account.
What's the interest rate?
PayDayMax also has lower APR rates (averaging 425%, compared to the industry average 610%).
Can I use wire services like MoneyGram?
PayDayMax also allows you to receive funds at a MoneyGram location such as a Wal-Mart.
Source: http://www.paydaymax.com.
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