Company URL: http://www.americashadvance.com/
Product: Cash Advance Loan
Price: The interest rate is exorbitant; the price depends upon the amount borrowed
Consumer:Those in need of immediate cash
The purpose of a Cash Advance loan is to provide cash for an individual who needs to cover an emergency or unexpected expense.
Pros: Ameri Cash Advance.com makes borrowing money almost painless. If you order one of the Ameri Cash ATM cards, you can apply for a loan and have it available within one hour’s time.
Without the Ameri Cash ATM card, you can be approved for a loan in about a half hour and have access to the loan proceeds the next business day. Remember that banks and credit unions do not credit ACH deposits on weekends or on holidays.
The requirements for obtaining an Ameri Cash Advance loan is that you are:
(1) 18 years of age or older;
(2) have a full time job (not through a temp agency); and
(3) earn at least $1,200 per month AFTER taxes each month. Ameri Cash does not run a credit check on applicants for cash advance loans but they do use TeleTrack and CL Verify.
Cons: The interest rate is really exorbitant. If you borrow $100 for five days, you will be required to pay back $120. That comes to an APR of over 1,400%.
Guarantee: There is no guarantee offered, and no guarantee would apply.
Value for money: Even at the overwhelming interest rate charged, if a person needed immediate cash, the service would be of great value.
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