Advance America

Pros

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Cons

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The Verdict

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Our review

Advance America or full name Advance America Cash Advance is the major company in the sphere of payday lending on the market. It was established in 1997. It refers to Grupo Elektra which is one of the largest Latin American banking services provider and comprises 2,800 payday loan centers and 84 limited licensees in 32 states of America as well as in the United Kingdom and Canada. The company adheres to federal and state laws and discloses all the payday loan information to their customers in due form.

It focuses on the middle class working individuals and families who may appear in the situation of urgent cash need. Advance America is a founding member of the Community Financial Services Association (CFSA) and has got its customer service located in Greenville, South Carolina.

At the moment the company is one of the largest in the USA among payday lending companies and they offer their services both in stores and via Internet. Apart from cash advances they offer such services as MoneyGram, auto title and installment loans, also tax preparation and they offer Visa prepaid cards and buy gold.

Advance America offers online and in store applications and both these processes are fast and convenient and deprived of the hassle usually associated with regular loan application. They also approve fast and the funds are deposited overnight.

As it has already been mentioned, Advance America is registered with CFSA and, therefore, customers can be sure to get all the term and conditions, fee and repayment information and so on disclosed and clear.

In terms of fees there is no set amount here. Fees vary depending on the state and also on the amount that a customer wants to borrow. On average, it is something between $10 and $30 for every $100 borrowed.

Summary:

Advance America is one of the major payday loan companies operating nowadays on the market. It is also one of the most reputable to deal with and it offers loans as well as other financial products. It is safe to deal with; however, it cannot boast the best interest rate offers with the fees being pretty high.

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