PROS / Personal Cash Advance does not require a credit check for approval.
CONS / It could take a few hours for approval of your loan application.
VERDICT / While PCA takes longer than most services to approve your loan, you still get your loan the next day, and the potential to borrow up to $1,500 is a bonus.
Editor’s Note: This product has been removed from our side-by-side comparison because it is no longer available. You can still read our original review below, but Top Ten Reviews is no longer updating this product’s information.
Personal Cash Advance (PCA) is a payday loan matching service that connects you with direct payday lenders who provide you a quick payday loan with no credit check required. Although the service cannot guarantee you a specific interest rate, its lenders offer competitive APRs and lending fees. This service takes up to a few hours to approve your application, so it is not an instant payday loan service like some of the other lenders on our lineup.
The lenders with whom PCA matches you are willing to lend up to $1,500, although a first-time borrower will likely be approved for only a few hundred. Depending on the lender, you pay $2 to $24 for each $100 you borrow on a standard 14-day loan, which is an APR of up to 615% for a full year. However, the maximum term for a loan through this service is only 14 days. PCA operates in all 42 states where payday loans are available.
The process to get a payday loan with PCA is simple. The first step is to complete the online application. It requires some personal information and a valid checking account for deposits and payments, and you are required to have proof of employment, although there is no minimum length of employment required. One bonus is that PCA does not require a credit check, so bad credit does not necessarily disqualify you for a loan.
After completing the application, your loan is approved within a few hours, and you receive many offers from lenders. Once you come to an agreement with a lender, that lender deposits your cash into your checking account the next day. Depending on the lender, you may even get your money the same day. If you find yourself needing a new loan, you are eligible to reapply the same day as you pay off your current loan.
The maximum term of a loan with a PCA lender is 14 days, but the lender determines other factors in paying off your loan. Some lenders offer payment extensions or loan rollovers, but you work out those specifics, along with the APR and fees, with your lender.
PCA offers some support options in case you have questions about the application or your loan, although for many questions, you need to contact the lender. The PCA website offers answers to FAQs and a form for contacting customer service. You can also find the toll-free phone number on the website, but it is not for questions about loan approval, which PCA does not do over the phone like many other services do.
Personal Cash Advance receives and approves your loan applications and then connects you with a lender. The amount, APR and associated fees depend on the lender, but the range PCA offers is competitive with other payday lenders. The wait time for approval is a few hours, which is more than other services that grant instant approval, but you can get your cash the next day, which is standard for most lenders. A nice thing about this service is that some lenders with which it works are willing to lend you up to $1,500, so if you need more than the common $1,000 payday loan, PCA is a good choice.