PROS / This service can approve you for a loan quickly.
CONS / Although this service offers a live chat option, it is only an automated system that responds to keywords you type in.
VERDICT / 100DayLoans is the best online payday loan service in our rankings, and it sets you up with a lender to help you make your bills until your next paycheck.
Editor’s Note: This product has been removed from our site because it is no longer part of our top 10 ranking. You can still read our original review below, but Top Ten Reviews is no longer updating this product’s information.
With 100DayLoans, you can receive quick approval for a payday loan and have your money in your checking account fast. After you complete an application online or over the phone, 100DayLoans connects you with potential lenders.
All payday loan companies are heavily regulated by federal and state mandates, so most loan services have restrictions based on location. For this reason, 100DayLoans is only available for residents in 42 states.
100DayLoans offers features that make it stand out among other services. Based on the information in your application, it matches you with lenders willing to loan you money. As with most loan services, approval for the maximum amount is not likely on your first loan. But after you establish a solid payment history, lenders are more likely to extend the full amount to you. However, remember it's smart to only borrow what you need, and not more.
All loans come with an APR that you pay back along with the principal loan amount, and this interest rate is something you'll want to pay close attention to. The APR varies from state to state and from lender to lender, so 100DayLoans cannot guarantee a specific rate. Just as the amount you can borrow increases with good history, your APR may decrease over time. Keep in mind that the APR is the interest rate for a loan term of a full year. Payday loans are meant to be more short-term. Because of this, lenders typically express interest in terms of the cost per $100 borrowed on a 14-day loan.
When you run into financial difficulties and need a little extra cash, payday loans may be able to help you make it to your next paycheck. Our number one service, 100DayLoans, offers a quick and uncomplicated process that connects you with a lender, and in most cases you have the money in your checking account fast. It offers competitive starting APRs, and you may be eligible for more money at a lower rate as you build up a good payment history. When it comes to online payday loan companies, 100DayLoans is one of the best choices.