If like most people you live from paycheck to paycheck, you might need help when you face a cash emergency. ACE Cash Express seeks to help borrowers access funds fast to fill in gaps in such situations.
But before you take out a loan from the lender, you might want to know how it works and whether it is right for you. In this in-depth review, we take a look at everything about the lender and help you make the best choice.
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- Loans From $100 to $15,000
- Instant Application & Approval
- Bad Credit Considered
- Lenders From All 50 US States Onboard
What is ACE Cash Express?
ACE Cash Express specifically targets individuals who cannot get loan approvals in traditional institutions. Founded in 1968, its specialty is in short-term loans and other alternative funding methods outside the traditional scope.
Though it specializes in three main types of loans, it also offers a variety of other financing services. Like other short term lenders, its fees are hefty, but that is understandable given that they often lend to high-risk patrons.
The lender offers in-person services in a limited number of states, but in other states, it only offers online services. It currently boasts more than 950 stores across the US in 23 states.
Pros and Cons of a ACE Cash Express loan
Pros
- 72-hour guarantee lets borrowers return all funds within 3 days without having to pay fees or face negative consequences
- No collateral required for installment and payday loans though for auto title loans, your car will serve as collateral
- You do not need to fax any documents to the provider as the process relies on online document verification
- Loan processing is straightforward and fast and you can get funds on the same day you apply
- No fees for repaying your loan early
- Does not report to traditional credit bureaus but uses alternative reporting to help borrowers create credit histories
- A mobile loan app makes it easy to access funds on the go
Cons
- In some states like Texas and Ohio where the lender does not have an operating license, it acts as an intermediary connecting you to other lenders and charges broker fees
- Not all of the lenders’ products are available in every state where it operates
- High interest rates as expected from any short term lender
- The lender is not transparent about fees and rates making it hard to make a comparison before a loan application
Ace Cash Express vs the competition, how does it compare?
Ace Cash express comes off as one of the best payday loan service providers due to their co-credit check policy. But how does it compare to equally competitive payday loan services like Speedy Cash, Check ‘n’ Go, and Advance America. We compared their borrowing limits, credit score requirements, loan costs in fees and interest, and the expected loan repayment periods. Here is the comparative guide:
Ace Cash Express
- Borrowing from $100 – $2,000 (varies by state).
- Credit score requirements of NIL (does not check)
- Fee rate on $100 starts from $25 (State dependent)
- Term of Loan 1 to 3 months
Speedy Cash
- Borrowing from $100 – $500 (varies by state).
- Credit score requirements of NIL (does not check)
- Fee rate on $100 starts from $26 (State dependent)
- Term of Loan 14 to 30 days (for payday loans)
Advance America
- Borrowing limits $100 up to $1,000
- Credit score requirements of NIL(Does not check)
- Fee rate on $100 starts from $15 (state dependent)
- Term of Loan 3 to 36 months
Check n’ Go
- Borrowing limits $100 to $1,500
- Credit Score Required 500 FICO
- Fee Rate on $100 starts from $25 (state dependent)
- Term of Loan 10 to 31 days
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