PROS / 24/7Loan has a quick and efficient online application process that may not require you to fax any paperwork.
CONS / Because it is not a direct dealer, the service cannot guarantee any loan amount or APR.
VERDICT / 24/7Loan is a top payday loan service, with competitive fees and interest rates.
24/7Loan is a payday loan service whose entire loan process is online, so you don't have to leave the comfort of your home. This service matches you with third-party lenders that may be willing to loan you a cash advance to help you make your bills and cover unexpected expenses. The application process is simple, and you can have your money quickly. With these features and the competitive fees and APRs available, 24/7Loan wins our Top Ten Reviews Bronze Award for payday loans.
This payday loan service is not a direct lender, so many of the features and terms of the loan you receive will depend on the lender. The service can connect you with lenders who may be willing to grant you a short-term payday loan, although most first-time applicants are not approved for the full available loan amount from most lenders. You come to an agreement with your lender as to the exact amount of your loan, fees and APR. Some states prohibit payday loans or the use of online payday services, but 24/7Loan is available in 42 states.
Ease of Use
The 24/7Loan website is simple, which makes it easy to find what you are looking for. The application process is straightforward, and the service generally provides payday loans with no credit check. You are required to provide your personal information, which may include your address, email and Social Security number. You need to have a valid checking account for deposits and payments. You may be able to apply and receive a decision over the phone, if you prefer.
Once you complete the application, the approval process is fast, and if you are approved you should start receiving offers from lenders. The sheer number of email offers you might receive may be overwhelming, but there is no obligation, so you do not have to take any loan with which you don't feel comfortable. When you sign your loan agreement, in most cases you have your money deposited directly into your checking account.
The exact term of your loan depends on what you agree upon with your lender. As with most loans, the amount due is automatically deducted from the checking account into which your lender deposited your loan. This means you do not have to remember to manually make a payment, but you will want to ensure that the funds are in the account before the due date.
Some lenders offer extensions to give you a little extra time to make a payment, and other lenders might offer loan rollovers, which means you can add the remainder of a loan onto a new loan. Again, these terms depend on the lender, and some additional fees or a new loan term, along with additional interest, may apply. Be sure to read all of your paperwork so you know exactly what your lender expects from you.
Help & Support
This company provides solid options if you need any help or support. The website has a FAQs page where you can find answers, including information on the possible terms of your loan, when you'll likely receive your funds and the amount for which you may be approved. If you need to contact customer service, you can call or complete an online email form.
24/7Loan is one of the best options if you need a fast payday loan. It is not a direct lender, so the amount of your loan, APR, fees and terms vary depending on which lender you choose, but in general, the fees and interest rates are on par with its competitors, and the terms of repayment are standard. The decision process is fast. Although you will not know all of the associated interest rates and fees before you apply, 24/7Loan is still one of the best payday loan services.