Instant Cash USA is where we find ourselves today. Just like so many other Native American loan shops, Instant Cash USA has got a very basic lending program in place that will help almost no one. I see this company as having a better chance of instantly making cash less available to anyone in the USA that does business with them. Now that's a personal opinion but let's take a closer look at this tribal payday lender and see if you agree with me.
Most tribal payday lenders are not very advanced in their website set-up and Instant Cash USA isn't much different. The company offers the same low level of loans in a payday format just like so many other tribally-based financial companies.
Is there anything different about this lender versus other tribal payday shops? Not when it comes to their loan program, but there is one thing that is striking, which is the age of the company. Most tribal lenders got started at some point after the financial collapse in September of 2008. But Instant Cash USA was started before all that carnage unfolded, the firm was around at least in 2007 and it looks like maybe even 2006. This falls under the category of old in the Native American lending universe.
It's become very tedious but I'll say it again, if you are a customer of Instant Cash USA or you are planning (or considering) on becoming a customer, then just stop in your tracks. Just freeze. Now there are other tribal lending options available to you. They are just as easy to qualify for and get a fast approval. They have just as much website security, in fact they probably have substantially better security than our friends over at Instant Cash.
There are better loan terms available, higher dollar amounts for loans available and a much longer time horizon to repay the loan. Of course I'm talking about the tribal installment lenders such as Plain Green Loans and Great Plains Lending, plus the tribal line of credit company called Mobiloans.
These lenders are all tribally owned operations and they do not use any of the big three credit rating agencies, so no matter what negative information you have lurking in those digital files it doesn't matter for these tribal lenders.
It's important to understand just how similar a company like Instant Cash USA is to the other 100 plus tribal lenders. There is no difference in the main sense of how the company operates.
They don't reference traditional credit scores, they aren't state licensed so they don't check to see if you have other debts outstanding or past due loans and they aren't interested in how well you paid off your last loan. These tribal lenders just want to know that you have a full-time job and that you have an active checking account.
Once you have cleared those two hurdles you have essentially been approved for the loan. The only other odd situation that could come up would be if you were an active military employee which would preclude you from a loan.
Instant Cash USA isn't special and they are not unique in any sense of the word. They are more like a carbon copy of many other lending firms that have come before them. Or I guess I should be saying there are dozens of tribal payday lenders that copied Instant Cash USA since they were around long before many of the current (and more popular) tribal lenders that followed them.
Why use a lender that charges 30% every two weeks instead of 10% or less? That's the question. Why use a lender where you can only borrow up to a $1,000 when there are equivalent lenders that can offer you a loan of up to $3,000? It's another good question.
If you take a few minutes and look at Instant Cash USA and their competitors, it's a challenge to say why anyone would continue on with our friends over at Instant Cash USA. The company just doesn't offer as good of a loan program and we are accustomed to shopping around for the best price, and in this case there are much better prices elsewhere around. And it's not like you have to shop hard to find them, they are right here on this page and not hard to find by searching. They have better terms for borrowers and there is no reason to accept a worse loan if you don't have to.
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