AdvanceAmerica.net Review – Is it a scam?

Established in 1997, AdvanceAmerica is one of the largest companies offering payday loan and other short-term financial services like installment loans, MoneyGram services, Visa prepaid cards, auto equity loans, gold buying, and tax preparation. AdvanceAmerica offers full service operations both online and at their in house locations.

AdvanceAmerica claims that 97% of their customers have rated their services from good to excellent. They further claim that they comply with the federal and individual state loans with regard to payday loans. AdvanceAmerica is a founding member of the Community Financial Services Association and is publicly traded on the New York Stock Exchange.

More about AdvanceAmerica

Getting a payday loan from AdvanceAmerica takes only 10-15 minutes. You get your payday loan immediately after your application has been approved. In case you apply online, the funds will be directly deposited in your bank account.

You can check out the fees and terms for payday loans in different states at their website.

The Danger of Payday Loan

A payday loan is a short-term loan meant to cover unforeseen expenses before payday. Because this loan is specifically targeted to people who need cash immediately, companies often charge exuberant interest rates. This makes it harder for people to pay back the amount on time.

Because of this controversy in payday loans, individual states have created rules and regulations regarding the approval of these loans and with the limitation of their fees.

Final thoughts on AdvanceAmerica.com

Payday loan may prove to be an alternative to bounced checks or late fees but then, you should never get one unless you’ve read and understood well the company’s fees and regulations regarding their payday loans.

AdvanceAmerica is a member of the Community Financial Services Association of America which only shows that this company is also committed to follow all federal and state laws associated with giving of payday loans.

Please leave your comments or your experience with AdvanceAmerica.net below; it helps others.

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