What Is a Payday Loan Website?
Many of us are finding that the cost of living is continuing to rise faster than our salaries are. Because of this, many Americans are living paycheck to paycheck, which can oftentimes set the course for disaster when a financial emergency arises between paydays. Thankfully, payday loan websites are available to help bail you out should you need them.
To find the best payday paycheck loans out there, we decided to compare payday check loans and complete the corresponding payday advance reviews. When determining which is the best of the best payday paycheck loans, there are a few factors that we looked for including the application process, the payment plans and the cost of the loans.
Wondering which of the payday loan services ranked on top? Read the following reviews to find out.
Application Process
A simple, straightforward application process is critical when applying for a payday loan. Complicating the application can take up valuable time, meaning a longer wait till you get your money. These two payday loan services stood out from the rest in terms of the application process.
1st Place:
Paycheck Today definitely took first place for the easy application category. There was a simple one-page form to fill out and that was it.
2nd place:
National Payday came in second. This site's application process was very user-friendly and didn't take much time at all.
Payment Plans
Each payday loan company offers different payment plans and finding one that you can work with is critical. These two contenders had the most flexible payment plans out of the bunch.
1st place:
Paycheck Today comes in first place for their easy, straightforward payment plan offerings. The option of paying the balance in full or not paying down until the fifth payment is very convenient.
2nd place:
In second place is Payday OK. Not only do you have the option of paying the balance in full, making partial principle payments or paying interest only, if you pay off the loan early, you may also receive prorated fees.
Pricing
A big factor in payday loan services is the cost. They are some of the highest-interest loans on the market and they aren't usually recommended for long-term lending. Because of this, you want to make sure you're getting the best price possible when you take out your payday loan.
1st place:
At just $10 per $100 borrowed, Payday OK comes in first place for the pricing factor. Almost every other service charges between $25 and $30 per $100, so $10 per $100 is a steal.
2nd place:
Second place is National Payday. Not only are their fees on the lower end ($25 per $100), first time borrowers get their loans for FREE if they are paid off by the due date.
Customer Support
When it comes to taking out a loan, it's critical to have good customer service. The following payday loan websites ranked highest in regards to customer support.
1st place:
In first place is Payday OK. Even though we could not access email support without actually taking out a loan, we were able to get live customer support via phone. When we did talk to the customer service rep, he was helpful and friendly and was able to answer our questions knowledgeably.
2nd place:
National Payday gets second place for customer support. While they do not have a phone number to call, we did get a quick and knowledgeable response to our email inquiry.
In Closing
Read through all of the reviews thoroughly before deciding which is the best payday paycheck loan for you. Each payday loan service has different policies and advantages. The following reviews will be extremely helpful in matching you with the payday loan that will best meet your needs.