Frequently asked questions

Nope! There’s no application fee. And once your Line of Credit is open, you’ll only pay fees on the amount you take out — not your full approved limit.

Our online instant loans give you access to funds for unexpected expenses or financial emergencies. For example, you might use a payday advance to avoid late fees on a utility bill or credit card payment. Installment loan proceeds might go toward an emergency medical expense or car repair. Your financial situation is unique, so use the money for whatever you need.

No, if any additional fees or charges related to this event are present in your account when all systems are restored, we will waive or refund the charges.

The fee is an extra cost you'll be charged to borrow money. Typically, our fee is about $15 for every $100 you borrow.

Keep in mind that fees can vary according to state regulations.

Yes. You can pay off your Line of Credit balance through your online account or at any Advance America store. No prepayment penalties apply, and you may even save on interest and fees.

The amount of money you can borrow with a Personal Loan is regulated by state law and will depend on your income, employment status, and other qualifying factors. Enter your location to view loan amounts and fees in your state.

You may need quick cash for a variety of emergency situations. Many of our customers use Advance America loans for:

• Medical Bills & Expenses - Unexpected illnesses or hospital visits that are not covered by your insurance may require a quick jolt of cash to get you and your family back to full health.
• Home Repairs & Renovations - A washer/dryer or refrigerator replacement, a leaky roof, or a busted boiler may mean that you need an immediate fix that goes beyond your budget.
• Auto & Car - Repairs A breakdown of your car could mean additional days of lost work — so accelerate getting back on the road with a quick loan.
• Rent Payment - When an emergency or crisis prevents you from being able to afford an upcoming rent payment, emergency loans can help you prevent late fees and credit damage from a missed payment.
• Travel Expenses - A sudden trip may arise that demands your presence: a fast loan can cover your hotel stay or plane flight to get you there.
• Lost Valuables - When your computer or laptop is stolen or misplaced, an immediate replacement may mean the difference between returning to work and staying home.
• Pet Care - Expense While we love our pets, we don’t always love the veterinarian costs when our pets fall ill or have an accident. Use an emergency loan to take care of the bill.
• Funeral Costs - The worst-possible scenario means being there to support your loved ones, even when your bank account isn’t prepared.
• Tax Bills - When a change in the tax code trickles down to your paycheck, it can be a budget buster. Keep the IRS at bay with an emergency loan.
• Identity Theft & Fraud - If your credit cards or bank accounts are frozen by fraud, a loan can keep you moving until the problem is resolved.

In select states, Advance America gives you access to online loan services, online Payday Loans, online Installment Loans or Line of Credit.

A Cash Advance (or Payday Loan) is a short-term, small-dollar loan that you can use to cover unexpected expenses or bridge a temporary gap between paychecks. A Cash Advance is a financial solution that provides an alternative to bouncing checks or paying late fees. Cash Advances are used to cover short-term financial situations; not a long-term financial solution.

An Installment Loan typically offers larger loan amounts, and allows you to repay the loan over a longer period of time.

A Line of Credit provides convenient, personal access to money when you need it. Apply just once, and receive approval up to a specific credit limit. Then, withdraw money as you need it up to your approved amount. You only pay interest on the money you withdraw, and the rest remains available if needed.

To find out if online loans are available in your state, click here.

For over 25 years, millions of hard-working Americas have trusted Advance America to provide flexible and personalized financial solutions to meet their needs. In fact, our customers rate us excellent, 5 out of 5. View reviews here.

We understand that financial solutions aren’t one-size-fits-all, so we provide a variety of services to meet customers’ needs. We have over 800 stores across the country, with a friendly and knowledgeable staff ready to talk through your options so you can be comfortable about your choice.

And as the nation's largest Payday Loan Company, we recognize the significant responsibility of following all applicable federal and state laws and presenting agreements and fees that are clear and easy to understand. We’re also proud to be a founding member of the Community Financial Services Association of America.

The fees are specific to your state or store, and can be viewed here. Often, the cost of a Cash Advance may be lower than the alternatives considered by many people, such as paying a bill late or incurring overdraft fees from banks and credit unions.

Fees vary depending on the amount of your loan and your state regulations. Our fees comply with all applicable state and federal laws.

Cash Advances are highly regulated on the state and federal level to protect both our company and the consumer. Laws and regulations include:

• State Regulations: The Cash Advance industry is highly regulated by state officials across the country. State laws typically limit the principal amount on an advance; set maximum fees; limit a customer's ability to renew an advance; and require various disclosures. And, most states require that a customer have the right to rescind the transaction before the end of the next business day.
• Federal Regulation: A number of federal laws and agencies regulate our business and help protect our customers, including the Consumer Financial Protection Bureau (CFPB).
• Federal Truth in Lending Act (TILA): This law requires lenders to clearly define key terms of consumer lending agreements and fully disclose all associated fees and charges, ensuring that consumers are able to compare the costs of all credit options.
• Fair Debt Collection Practices Act (FDCPA): Advance America only contracts with collection agencies that use legal, professional and non-aggressive collection practices.
• Fair Credit Reporting Act (FCRA): We adhere to strict policies that regulate the collection, dissemination, and use of consumer information, including consumer credit information.
• Equal Credit Opportunity Act (ECOA): We do not discriminate based on race, color, religion, national origin, sex, marital status, age, or because someone receives public assistance.
• Gramm-Leach Bliley Act (GLB Act): The GLB Act is designed to protect consumers’ personal financial information held by financial institutions, which means we will not share yours or other customers’ personal information.
• John Warner National Defense Authorization Act limits the total charges on certain loans to a 36 percent Military Annual Percentage Rate. As a result, we do not offer loans to military personnel.
• Industry Regulations: Advance America is a member of OLA, Online Lenders Alliance.  OLA's mission is to ensure all members adhere to industry Best Practices.  

Depending on your loan type and state, a Cash Advance charges a flat fee and does not have interest accruing fees. The typical fee for a Cash Advance is $15 per $100 borrowed — a set price for a short-term transaction. This makes a Cash Advance often less expensive than bouncing a check, missing a credit card payment or neglecting a bill.

The Federal Truth in Lending Act (TILA) requires all financial institutions to disclose loan fees as Annual Percentage Rates (APR). To comply with TILA, Advance America reports the implied APR of a cash advance — the amount you would pay if you renewed your advance every two weeks for a full year. However, the average loan term is only two to four weeks. APR is a more appropriate measure of costs associated with loans that last for at least a year, such as a mortgage loan or a car loan. However, even using APR as a measure of the cost of various options for short-term loans, Payday Loans and Cash Advances are still the least costly option compared to bank overdraft, bounced check, late payment and utility reconnection fees.

Image

Image

Payday advance fee vs alternatives

Sources: CFSAA.com; Stephens, Inc. 2011; Moebs Services 2010 Fee Revenue Study; Bankrate.com; Readex Research National Data on Short-Term Credit Alternatives 2006; Moebs Services 2010 Financial Pricing Survey

Some of our critics have proposed capping interest rates for Payday Loans or a Cash Advance, but doing so would greatly impede our ability to operate. If we charged lower fees, we would not generate enough income to pay for basic business expenses, such as rent, utilities and wages. If we were to charge an APR of 36 percent, as some of our critics have suggested, that would mean customers pay a fee of $1.38 per $100 borrowed. No business — not a credit union, not a bank — can lend money for 10 cents a day for a two-week loan term without being subsidized. Such rate-cap models overlook the significant cost of operating a regulated business, and would be an effective ban on Cash Advances. Our customers recognize that the price of the one-time fee is appropriate for a short-term loan, relative to other options.

Most banks do not provide small-dollar, short-term loans that our customers need. The average amount of a Cash Advance and Payday Loan is about $350, an amount significantly lower than what a bank will loan. Some banks and credit unions have begun to offer products they promote as "alternatives" to Cash Advances, but these options are not broadly available and involve a variety of restrictions and complex fee structures. And in some cases, though our customers all have a bank or credit union account, they may choose not to obtain credit from these institutions because of a negative past experience, such as encountering hidden fees. We support a competitive market and encourage our customers to weigh all of their options before choosing our service. Cash Advances are not for everyone, but our customers make informed decisions, and choose Advance America because they appreciate the simplicity, reliability and transparency of our Cash Advance services.

Title Loan costs vary. To view loan options and fees, in your area, click here.

Charges vary by state. Please see your state specific details on the Fees & Terms for more information.

When you need money, online Cash Advance, Installment Loans, and Line of Credit Loans through Advance America are simple, quick, and provide the convenience of applying the privacy of your home in as little as 10 minutes, you may be eligible to have funds directly deposited into your checking account the same day.*

There are so many reasons to feel confident about turning to Advance America:

• We‘re a state-licensed company which means we follow all applicable state and federal laws.

• All rates, terms and fees are explicitly outlined in the agreement with no unexpected charges or no hidden costs when borrowing.

• We use simple, straight-forward language to ensure our fees and payment terms are clearly understood, so you know exactly what and how you’re paying.

• We‘re committed to providing a safe, secure and private transaction.

*Online approvals before 10:30 AM ET (M-F) are typically funded to your bank account by 5 PM ET same-day. Approvals after 10:30 AM ET are typically funded in the morning the next banking day.

The fees are specific for your state. If online loans are available in your state, you can view fee information by clicking here.

For the best Payday Loans, choose a lender with:

• An easy application process and knowledgeable staff. Whether you’re applying in-store or online, we can help you find the best Payday Loan to meet your needs.
• A secure website. The address bar should display a padlock icon in front of the URL. The symbol indicates that the website is encrypted and secure. Check out our Privacy Policy for more information.
• Transparent fees, rates, and terms. At Advance America, we’re always upfront with your Payday Loan details. Learn more about your state’s loan rates and terms by clicking here.

Installment Loans allow you to pay back your loan the way that fits your needs, with longer-term repayment options. This means you have the ability to repay with multiple payments over time.

We're a state licensed company, which means we follow all applicable state and federal laws.

All Installment Loan rates, terms, and fees are explicitly outlined in the agreement with no unexpected charges or hidden costs when borrowing.

The amount of money you can receive from an Online Loan is regulated by state law and will depend on your income, employment status, and credit history. Enter your location to view loan amounts and fees in your state.

You may pay off your Title Loan at any time before the due date if you wish. There is no prepayment penalty, and depending on the state, paying off early may reduce the fees of your Title Loan.