PayDay One is a payday loan service that prides itself on being professional, quick and courteous. For every $100 you borrow, you generally pay around $22.50 (this will vary depending on your state of residence.) This rate is a bit higher than we generally like to see in our review of the best payday loans. However, it's still a good deal less than much of the competition. So, it's not a deal breaker.

You can apply for a loan with PayDay One either online or over the phone. Every lender PayDay One uses is U.S. based, authorized and state licensed. PayDay One is available in only 31 states, another reason they didn't rank in the top tier of our best payday loan review. However, they do have a Great Rate Guarantee, which means they will match any lower priced loan you may find from similarly licensed online lenders.

PayDay One appears to support safe transfers of personal information and they are SSL secured. However, since they work with a number of lenders, check for encryption indicators such as the “https” in the URL and the padlock in the right bottom of the screen. Additionally, do not send personal data like your social security number through an unsecured email account.

We found the application easy to fill in and submit and they rarely request additional information. You receive instant approval or denial, and if you're approved, funds are deposited the next business day.

The application online is quite simple and can be filled out and submitted at any time. You can also apply for the loan over the phone (7 a.m. to 8 p.m. M-F, 8-5 Saturday, Central Time). Loans made before 5 p.m. (CT) are credited the next business day. The whole process is straightforward and easy, and the user interface for applying and managing payments is simple.

Our previous review of PayDay One found that they offered the lowest rates among payday loan cash providers but that has changed as their prices have increased. Interest rates vary by state, but we found several as low as $22.50 for every $100 you borrow, which amounts to an APR (Annual Percentage Rate) of 586.61% based on a 14-day loan. While extremely high on an annual basis, it remains significantly less than the majority of services we reviewed. Also, they offer the Great Rate Guarantee stating that they'll match the rates of similarly licensed online lenders so you may be able to use that to your advantage.