2024 Direct Payday Loan Lender Rankings

Direct Payday Loan Lenders

Direct payday loan lenders are often able to provide easy access to cash overnight. They do not require collateral are are available to all credit types. Although convenient these loans are very expensive. They are due in full on your next payday and the fees and although the a fee of $15 per $100 may not sound like a lot, when compared to other loans they can be 10-15 times more expensive than loans from credit unions, banks, credit cards, friends, and family.

Direct payday loan lenders are best used only if completely necessary. For example, a typical situation that might justify one of these loans is in an un expected, emergency situation where the loan can be paid off by your next pay period. We review actual payday lenders based on their reputation, cost, and features. Reputation considers state licensing and Better Business Bureau scores. Cost is based on terms, fees, and rates. Features include things like credit reporting or fee transparency.

Check Into Cash See full review Apply $100 - $25,000 Loan amounts 195% - 521% APRs All Credit type ⓘ Visit Check Into Cash for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] State Licensed Lender Lender status Apply

Ace Cash Express See full review Apply $100 - $2,000 Loan amounts 175% - 1,029% APRs All Credit type ⓘ Visit Ace Cash Express for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] State Licensed Lender Lender status Apply

CashNetUSA See full review Apply $100 - $2,000 Loan amounts 299% - 456% APRs All Credit type ⓘ Visit CashNetUSA for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] State Licensed Lender Lender status Apply

LendUp See full review Apply $100 - $500 Loan amounts 155% - 164% APRs All Credit type ⓘ Visit LendUp for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] State Licensed Lender Lender status Apply

Advance America See full review Apply $50 - $25,000 Loan amounts 36% - 664% APRs All Credit type ⓘ Visit Advance America for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] State Licensed Lender Lender status Apply

Cash Central See full review Apply $100 - $5,000 Loan amounts 180% - 740% APRs All Credit type ⓘ Visit Cash Central for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] State Licensed Lender Lender status Apply

Check City See full review Apply $100 - $500 Loan amounts 158% - 639% APRs All Credit type ⓘ Visit Check City for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] State Licensed Lender Lender status Apply

Quik Check See full review Apply $100 - $500 Loan amounts 146% - 548% APRs All Credit type ⓘ Visit Quik Check for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] State Licensed Lender Lender status Apply

Check 'n Go See full review Apply $250 - $5,000 Loan amounts 314% - 662% APRs All Credit type ⓘ Visit Check 'n Go for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] State Licensed Lender Lender status Apply

Speedy Cash See full review Apply $100 - $2,000 Loan amounts 178% - 680% APRs All Credit type ⓘ Visit Speedy Cash for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] State Licensed Lender Lender status Apply

Cash Advance Now See full review Apply $300 - $1,500 Loan amounts 725% APRs All Credit type ⓘ Visit Cash Advance Now for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] Tribe Based Lender Lender status Apply

Big Valley Financial See full review Apply $300 - $500 Loan amounts 780% APRs All Credit type ⓘ Visit Big Valley Financial for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] Tribe Based Lender Lender status Apply

Tremont Lending See full review Apply $100 - $750 Loan amounts 495% APRs All Credit type ⓘ Visit Tremont Lending for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] Tribe Based Lender Lender status Apply

NationalPayday See full review Apply $200 - $1,500 Loan amounts 782% APRs All Credit type ⓘ Visit NationalPayday for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] Unlicensed Lender -- Costa Rica Lender status Apply

East Side Lenders See full review Apply $300 - $1,000 Loan amounts 550% - 780% APRs All Credit type ⓘ Visit East Side Lenders for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] Unlicensed Lender Lender status Apply

Cash in a Wink See full review Apply $100, - $1,000 Loan amounts 456% - 2,281% APRs All Credit type ⓘ Visit Cash in a Wink for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] Unlicensed Lender Lender status Apply

MyPaydayLoan See full review Apply $100 to $500 Loan amounts 782% APRs All Credit type ⓘ Visit MyPaydayLoan for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores: Credit Type FICO® Score All All Scores Fair 620+ Good 680+ Great 720+ [close] Unlicensed Lender -- Costa Rica Lender status Apply

• Rates and fees vary by state. Not all lenders operate in all states. Check each lender's website for up-to-date information.

Who Are Direct Payday Loan Lenders

Direct payday loan lenders are direct lenders. They provide loans based on your paycheck amount, pay date, and access to your checking account. They typically do not consider your credit profile or require collateral.

They differ from companies who provide matching services because actual payday lenders underwrite and lend money. Many sites will advertise payday loans and even take an application, but they are not lenders. Instead, they are matching services representing a network of lenders. These sites sell your information on to actual actual payday lenders who then make loans. In some cases direct lenders may pass your information along if they are unable to make a loan to you. One can distinguish direct lenders from matching services by looking at the fine print of most websites. Matching services will say something like, "the operator of this website is NOT A LENDER." Direct lenders will not include this disclaimer.

Direct Lenders Versus Matching Service

The main advantage of using a matching service is that only one application is required to apply to multiple lenders. This can save time and effort as each application can take 5 to 15 minutes to complete. The downside to matching services is you are unable to pick the lenders. This means the lenders may include unlicensed lenders as well as licensed lenders. We prefer state-licensed lenders. If you use a matching service, once you are offered a loan, make sure you are comfortable with your lender and the terms.

Whether you use a matching service or a direct lender there is a high likelihood that your data will end up with other lenders. An article on the NPR blog recounts a story where after applying to a matching service (with fake data) the author received calls months later from possible lenders. We generally do not see anything wrong with a matching service in concept but one should be aware of how the services work. For more information see Direct Lenders or Matching Services

Licensed Lenders

Direct payday loan lenders regulation varies. Lenders typically regulated by federal, state, or tribal laws. In the past, there were also many offshore entities that tried to avoid all regulations but most have these closed shop in recent years. For US-based lenders, federal regulations are generally less stringent and less enforced than state regulations. Direct payday loan lenders licensed in your state are regulated and monitored by your state so are more closely regulated than lenders not licensed by your state. In order to be state-licensed, lenders typically are required to apply, register, and remain compliant in all states where they are licensed. Individual states have separate licensing and compliance processes so the licensing and compliance process can be expensive and time consuming for lenders. As a result state-licensed actual payday lenders are generally larger more permanent companies.

Unlicensed state direct online actual payday lenders operate under the assumption they can export laws from their state, tribe, or foreign country into other states. Offshore lenders and tribal lender were very common in the early 2010's but by the mid 2010's most had shut down largely driven by states these entities ability to export their laws. By 2020 there are still few offshore entities but tribal entities have had a resurgence.

Tribal lenders are neither good nor bad. They do operate outside state law where most people have a voice in the elected officials that create the laws and regulations that monitor lending laws. At the same time you are under no obligation to take a tribal loan and operating outside of regulatory red tape can mean tribes are able to offer loans where other lenders cannot.

For more information on lending laws see Payday Loan Laws

What Are Payday Loans

Payday loans are short-term loans tied to your paycheck. They do not require collateral and are generally available to people with all types of credit. Typically, actual payday lenders are deposited funds into your checking account overnight. Payment is due in full the next pay period. The loans can be very expensive so are best taken to cover emergency, unavoidable expenses. See Payday Loans to learn more about these loans.

Avoid a Vicious Debt Cycle

Direct payday loan lenders charge around $9 to $45 per $100 borrowed. This means if you borrow $300, and your fee is $15 per $100 borrowed, then on your next payday $345 will be automatically deducted from your account. If full payment is made then the loan is paid off and you are done. If you are unable to pay in full some actual payday lenders allow, and even encourage, you to renew the loan. The renewal is generally at the same rate and you will pay fees on the unpaid fees from the previous loan. This means at your next payday (now the second payday since you took the loan) $397 will be pulled from your checking account. Clearly, these fees add up very fast and one can end up owing way more than the original loan. This is what people mean when they refer to a debt cycle -- one starts off needing a small amount of cash but within weeks the debt quickly escalates into an unimaginable amount. For this reason, Doshound believes payday loans should only be used for emergency situations and at most 1 or 2 times every couple of years. See Don't Use A Payday Loan for Summer Vacation Cash to determine if there are other options to taking a payday loan.