Home AmeriCash Review 2021 – READ THIS BEFORE Applying!
Kane Pepi

AmeriCash Review - READ...

If you’re looking for funding and wish to spread the payments out over a number of months, then it might be worth opting for an installment loan. With that said, if your credit is less than ideal, you might need to use a lender that is willing to consider bad credit. One such provider that is active in this space is AmeriCash.

The US lender offers loans of between $50 and $4,000. You can apply online and have the funds deposited into your checking account within 1-2 days of being approved. For even faster funding, you can collect the funds from one of its stores on a same-day basis.

If you’re thinking about using the lender for your financing needs, be sure to read our in-depth AmeriCash Review. Within it, we cover everything you need to know – such as how much you can borrow, eligibility, fees, repayments, customer support, and more.

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Although AmeriCash offers loans to those with less than ideal credit, you need to keep an eye on its interest rates. In most cases, the APR will be three-figures.

What is AmeriCash?

AmeriCash is an established US lender that primarily focuses on installment loans. In a similar nature to other loan providers in the space – such as CashUSA and Check Into Cash, AmeriCash allows you to execute the entire loan application online. By entering some information about your personal and financial standing – alongside the amount that you wish to borrow and for how long, the AmeriCash system will let you know whether or not you are eligible for a loan.

If you are, you’ll then have the option of having the funds deposited into your checking account, or collecting them in-store. If you prefer the latter, AmeriCash has a physical presence in 12 US states. In terms of the fundamentals, AmeriCash is able to facilitate loans from just $50, up to a maximum of $4,000. Depending on the state you live in, you can borrow the funds for a maximum of 18 months.

AmeriCash Review - READ...

It is important to note that although AmeriCash labels itself as an installment loan provider, it also offers short-term payday loans. This is because you can borrow just a few hundred dollars and repay the money when you next receive your salary. With that said, the interest rates are going to be crippling, so make sure you check whether or not you can afford to meet your repayments before signing the loan agreement.

While we are on the subject of interest rates, the specific amount that AmeriCash charges will depend on a range of variables. This covers your creditworthiness, the amount you wish to borrow, and the state you live in. For example, those based in Arkansas and Kansas will pay a maximum APR of 521%, which is huge.

What are the Pros and Cons of AmeriCash?

AmeriCash Pros:

✅An established lender with a physical presence

✅Installment loans of up to $4,000

✅Payday-style loans from just $50

✅Collect the cash in person or have the funds deposited into your bank account

✅Complete the application online

✅Considers bad credit profiles

AmeriCash Cons:

❌ High APR rates

❌ Only available in 12 US states

AmeriCash vs Other Competitive Loan Providers 

AmeriCash is a loan provider majoring in installment and payday loans. Its loan application process is often done online making the lender one of the most convenient loan provider. Its worth opponents include Opploans, CashNet USA, and Advance America who also specialize in installment as well as payday loans. Now, let’s compare all these providers on the loan limit, credit score requirement, fees rate, and loan repayment period criteria. 

Americash Loan

  • Offers loans from $50 up to a maximum of $4,000
  • Credit score not required
  • Annual payment rate go as high as 521%
  • Maximum repayment period is 18 months 


  • Borrow limit $500 to $5,000
  • Bad credit score is allowed
  • Annual payment rate starts from 99% to 199%
  • Payment period of 9 to 36 months

Cashnet USA 

  • Loan limit starts from $255 to $3,400
  • Requires a Credit Score above 300
  • Interests rates range from 86.9% to 1140% ( depending on the type of loan)
  • The loan is paid back within a week or 1 year depending on the type of loan. ( 5% – 15% penalty fee on every missed payments) 

Advance America

  • Loan limit starts from $100 to $5,000
  • Requires a Credit Score of above 300 
  • For every $100 borrowed an interest of $22 is incurred
  • 30 days loan repayment period

How Does AmeriCash Work?

AmeriCash operates similarly to most other loan providers active in the online space. In order to get the ball rolling, you will need to visit the AmeriCash homepage and click on ‘APPLY  NOW’. Once you have entered the amount of cash that you wish to borrow and for how long, you will then need to provide some personal information. This includes your full name, home address, residency status, date of birth, social security number, and contact details.

You will then be asked some questions about your financial standing. This is to gauge your creditworthiness, as well as your current debt obligations. AmeriCash will also need to know your employment status, how much you earn, and when you next get paid. Once you have submitted your loan application, the AmeriCash system will give you a decision within 30 seconds.

AmeriCash claims that it does not run a credit check. Instead, it basis its decision on other metrics such as your income. However, it might check your creditworthiness with third-party sources outside of the main three credit bureaus.

If your application is successful, you will then be able to review your APR rates. If you’re happy to proceed with the terms offered, an AmeriCash representative will then call you to confirm your details. If they need any more information (such as supporting documents on your income), they’ll tell you what you need to do. Finally, you will then be asked whether you want the loan funds deposited into your account, or if you want to collect them in-person.

What Happens Once I am Approved With AmeriCash?

Once you have completed the telephone verification call, you will need to sign a loan agreement to complete the process. If you decide to collect the funds in-store, you can sign the documents in-person. Alternatively, AmeriCash will send you an email and you can sign the agreement digitally.

If you decide to collect the loan funds in-person, AmeriCash will hand you a check. You will then need to deposit the check into your bank account and wait for the funds to clear.  As such, it’s far easier to have the money transferred into your checking account.

What Types of Loans Does AmeriCash Offer?

Although AmeriCash claims to specialize exclusively in installment loans, this is debatable. The reason for this is that you can borrow as little as $50, which you would need to repay when you next receive your paycheck. As such, some of its financing structures represent a payday loan.

✔️ Installment Loans

Installment loans allow you to make repayments over a number of months. For example, if you borrow $2,000, you can pay the money back over 10 months. Each monthly payment will be fixed, and taken on the same date of each month. Moreover, your monthly repayments will include interest.

✔️ Payday Loans

A traditional payday loan will see you borrow a small amount over a short period of time. For example, you might borrow just $200 and repay the money back when you next get paid. Payday loans usually come with sky-high interest rates, so do bear this in mind.

How Much do AmeriCash Loans Cost?

There is no one-size-fits-all answer to the amount of interest you’ll pay at AmeriCash, as there are many variables that can dictate the APR charged. AmeriCash will base your loan terms of the following metrics.

❓The amount you need to borrow

❓How long you need to borrow the funds for

❓The US state that you reside in (Nevada or Utah)

❓Your debt-to-income ratio

❓Your current household income

You won’t know your specific APR rate until you actually make an application. Although AmeriCash does not state whether it executes a soft or hard inquiry, it’s likely to be the former. This is because the lender does not run a credit check with the main three credit bureaus.

Although we can’t give you the specific APR that you’ll be paying, we have outlined some important points surrounding interest rates below.

💸Due to individual state lending laws, the maximum APR will depend on where you live. For example, while those from Missouri and Iowa can pay up to 521% APR, residents of South Carolina and Florida are capped at 400% APR.

💸The lender does not charge any application fees.

💸AmeriCash allows you to make overpayments at no extra cost. As such, you can repay the entire loan off early and thus – reduce the amount of interest you pay.

💸The lender is not overly clear on what it charges in late payment fees. However, the platform notes “if your debit is returned unpaid from the bank for any reason, we will initiate recovery procedures immediately.”

If you’re based in Florida, the minimum amount that you can borrow is $601. If you’re after a much smaller amount, you will be best off using a different lender as opposed to borrowing more than you need.

Am I Eligible With AmeriCash?

One of the main selling points of using AmeriCash is that the lender does not conduct credit checks. As such, you might be eligible even if you are in possession of bad credit, With that being said, not everyone will be suitable for a loan at AmeriCash, so review the following section before applying.

Due to the triple-digit interest rate that you’ll likely be paying at AmeriCash, those with an excellent credit score will be best off using a different lender. This is because the lender is better suited for those with less than ideal credit.

Here’s what AmeriCash will look at when assessing your eligibility.

✔️ Income

As AmeriCash will not run a credit check on you, the most important metric that it looks at is your income. At a minimum, you will need to prove that you have a regular source of income. If you’re in full-time employment you will stand a much better chance of being approved. However, the lender will also consider your application if your income is in the form of benefits.

✔️ Verified Bank Account

Although you are not required to receive the funds via a bank transfer, you will need to make your repayments from your checking account. As such, AmeriCash requires all loan applicants to have a verified bank account.

✔️ State

AmeriCash is only available in 12 US states.

This includes:

  • Arkansas
  • Florida
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Michigan
  • Minnesota
  • Missouri
  • Oklahoma
  • South Carolina
  • Wisconsin

✔️ Age

You must be aged at least 18 years old to qualify for a loan with AmeriCash.

✔️ State ID and Social Security Number

AmeriCash also requires you to provide a valid social security number. In order to verify your identity, the lender will also ask for your state ID number.

How do I Repay my AmeriCash Loan?

Once you sign your loan agreement and receive the funds, you will then enter into a legally binding contract with AmeriCash. The loan terms will outline the amount that you need to pay each month, which will always be fixed. In terms of making your repayments, the lender will get you to set-up an electronic debit agreement.

AmeriCash Review - READ...

This gives AmeriCash permission to take your loan funds from your checking account automatically each month. In doing so, you will avoid missing a payment. As such, the only way that you will incur late payment fees is if you do not have enough money in your bank account at the time of the repayment.

Customer Service at AmeriCash

If you need to speak with a member of the AmeriCash support team, you can reach them on the following channels.

📱Phone: 888.907.4227

📧 Email: [email protected]

💬 Live Chat: Not available

The customer service team works 6 days per week during the following hours:

⏱️ Monday-Friday: 08:00 – 20:00

⏱️ Saturday: 08:00 – 20:00

⏱️ Sunday: Closed

AmeriCash Review: The Verdict

In summary, AmeriCash will not be suited for everyone. On the one hand, the lender offers loans of between $50 and $4,000, with repayment terms capped at 18 months. Depending on where you live, you might only be able to borrow the funds for 1 year. Moreover, your state will also dictate how much interest you pay. With that said, regardless of your location and financial standing, most AmeriCash loans come with a triple-digit APR rate.

As such, those with an excellent credit score should look elsewhere. However, if your credit profile is less than ideal, you might be forced to use a lender like AmeriCash. This is because the loan provider does not run credit checks. Instead, it will look at other metrics such as your income. Ultimately, just make sure that you understand exactly how much you’ll be paying on the borrowed funds before signing the loan agreement.

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Our Rating

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  • Loans From $100 to $15,000
  • Instant Application & Approval
  • Bad Credit Considered
  • Lenders From All 50 US States Onboard
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How do I repay my loan with AmeriCash?

What is an installment loan?

How long does it take for AmeriCash to transfer my funds?

What states does AmeriCash service?

Kane Pepi

Kane Pepi

Kane holds academic qualifications in the finance and financial investigation fields. With a passion for all-things finance, he currently writes for a number of online publications.