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Best Payday Loans and Alternatives

Compare the top 6 legit payday lenders plus some cheaper alternatives

Payday loans are short-term, no-credit-check loans that are paid off on your next payday. They’re aimed at bad credit borrowers and typically range from $50 to $1,000. Instead of charging interest, most lenders charge a flat fee called a “finance charge” of around $15 to $25 per $100 borrowed, which is the equivalent of 300% to 1,300% APR.

While a payday loan can provide fast cash, they’re expensive. The good news is, there are cheaper borrowing options available, even if you have bad credit. To help you, we’ve narrowed down the best payday loans and alternatives, including cash advance apps that are free to use.

Product Finder Score Max. amount per pay period Turnaround time Costs
Finder score
Up to $150/day, with a max of $750 between paydays
1 to 2 business days or within 30 minutes for a fee
Free to use or within minutes with a fee as low as $2.99 per transfer
Access up to $150 per day, with a max of $750 between paydays. Subject to EarnIn terms & conditions.
Finder score
$500 to $5,000
As soon as the same business day
160% - 195% APR
Not available in: CO, CT, GA, IA, MD, MA, NY, SD, VT, WV. Comes with the option to change your due date so you won’t fall behind on repayments.
Finder score
$50 to $750
Up to 3 days or within an hour for a fee
Free
Get up to $750 before payday, once you qualify. Paycheck Advance is an earned wage access service and is not a loan or credit product. Subject to Paycheck Advance Terms and Conditions.
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Varo logo
Finder score
Up to $500
Instant, once qualified
No membership fee, instant transfer fee up to $40
Varo Advance (VA) is a small dollar line of credit. Initial limits range from $20-$250. Work your way up to $500 over time. Fees range from $1.60 - $40 based on loan amount.
Cleo logo
Finder score
Up to $250
3 to 4 days or instant for a fee.
$5.99 monthly membership fee to access cash advances
Automatically monitor your spending plus access cash advances up to $100 at a time.
Chime logo
Finder score
Up to $500
Within 24 hours or $2 for instant transfers
No subscription fees
Access up to $500 of your pay before payday fee-free within 24 hours. See Chime terms and conditions.
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What is the Finder Score?

The Finder Score crunches 3+ types of short-term loans across 65+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best short-term loans for all credit types, you can see how each short-term loan stacks up against other short-term loans with the same borrower type, rate type and repayment type.

Read the full Finder Score breakdown

Best payday lenders and alternatives:

Best alternative for building credit

OppLoans Installment Loans

9.4 Excellent

Go to site Read review

OppLoans is a bad credit lender that only does a soft credit check when you apply, which doesn't affect your FICO credit score. While its APRs start at 160% and can reach up to 195% or more, this rate is still less than what most payday lenders charge. And unlike a payday lender, OppLoans reports your repayments to the three major credit bureaus, which can help improve your credit score.

Despite its higher rates, the company gets great customer reviews on Trustpilot and is accredited by the Better Business Bureau (BBB) with an A+ rating. It's known for its fast funding times and excellent customer service, with extended phone support hours on weekdays. However, the short repayment terms of nine to 18 months may lead to high payments for some borrowers.

Loan amount$500 - $5,000
Turnaround timeAs soon as the same business day
Online applicationYes
  • Not available in: Colorado, Connecticut, Georgia, Iowa, Maryland, Massachusetts, New York, South Dakota, Vermont, West Virginia

Best no-fee payday advances

EarnIn

9.5 Excellent

Go to site Read review

EarnIn is a cash advance app that lets you borrow up to $750 of your earned wages before payday with its Cash Out feature. This borrowing limit is higher than most cash advance apps, and unlike payday loans, there's no interest or financing fees to use Cash Outs. But you can't take it all out at the same time — you can only withdraw $150 maximum per day.

To qualify for EarnIn Cash Outs, you must be employed, have regular direct deposits and earn a minimum of $320 each pay period. Regular transfers are available in one to three business days for free. If you need the money faster, you can transfer funds immediately for a small fee that ranges from $2.99 to $5.99.

Loan amountUp to $750
Turnaround time1 to 2 business days or within 30 minutes for a fee
  • Not available in: Connecticut

Best for longer repayment terms

Upstart personal loans

8.3 Great

Go to site Read review

Upstart is a loan marketplace that connects borrowers with personal loan lenders offering much longer repayment terms than payday loans. If you know you can't repay your loan by your next payday, this could be a better option. You can borrow anywhere from $1,000 to $50,000 and repay it over three or five years, giving you more flexibility than the typical payday loan.

Upstart might also be a good fit if you have bad credit. Its partner lenders consider factors beyond your credit score, like your job history and education, which can help more applicants qualify. APRs tend to be lower than payday loans, but an origination fee of up to 12% could cut into your loan amount.

Min. credit score300
APR6.7% to 35.99%
Loan amount$1,000 to $50,000
  • Not available in: Connecticut, Iowa, Maine, Maryland, Nevada, New York, Oklahoma, Oregon, West Virginia

Best for repeat payday advances

Chime MyPay

9.4 Excellent

Go to site Read review

Chime MyPay offers early access to your earned wages, making it a simple way to bridge the gap between paychecks without taking out a loan. If you're eligible, part of your paycheck becomes available ahead of schedule automatically, no need to manually request an advance. It's built into your Chime account with no tipping or credit checks required.

Because it's not a loan, there's nothing to repay and no interest or fees to worry about. The amount you access simply gets deducted from your next direct deposit automatically. That makes it a useful alternative to payday lenders, especially if you just need a small amount to cover expenses before payday. The catch? It's only available to Chime customers with qualifying direct deposits, and how much you can access depends on your employer and pay history.

Loan amount$20 - $500
Turnaround timeWithin 24 hours or $2 for instant transfers
  • Not available in: Colorado, Connecticut, Georgia, Illinois, Maine, Maryland, Massachusetts, Minnesota, Montana, Nevada, New Jersey, New Mexico, South Dakota, Vermont, Washington, Wisconsin, Wyoming

Best payday lender

ACE Cash Express Short-term Loans

7.2 Great

Read review

In business for over 50 years, ACE Cash Express is one of the oldest lenders on this list. It offers in-store payday loans from $100 to $1,500 in 21 states and the District of Columbia. Online payday loans are also available through its website in four states, with online installment loans offered in an additional three states.

While convenient and highly rated by past customers, it's an expensive form of borrowing. Expect to pay around $25 per $100 borrowed, making it best for emergencies only.

Loan amount$100 - $1,500
Turnaround timeAs fast as same business day
Online applicationYes
  • Only available in: California, Delaware, Florida, Idaho, Kansas, Louisiana, Minnesota, Missouri, New Mexico, Ohio, Texas

Best for comparing short-term lenders

LendYou Short-term Loans

5 Standard

Read review

LendYou is a lender connection service that matches users to short-term payday and installment lenders without a credit check. You may apply for payday loans from $100 to $5,000, and the turnaround time is typically the next business day.

LendYou isn't a direct lender, so the actual loan requirements and costs depend on the lender you're matched with. The lender may run a credit check depending on the loan you apply for. LendYou doesn't have a BBB page, so be sure you're visiting the official site before applying.

Loan amount$100 - $5,000
Turnaround time1 business day
  • Not available in: Arkansas, New Hampshire, New York, Texas, Vermont, West Virginia

Methodology: How we chose the best payday lenders

Finder’s lending experts review legitimate payday lenders against these key metrics to narrow down the best payday loans:

  • Finance fees
  • Loan repayment terms
  • Number of states served
  • Online application availability
  • Repayment flexibility
  • BBB customer ratings
  • Trustpilot ratings

We didn’t include tribal lenders on this list, as they’re not subject to the same laws and regulations as licensed payday lenders. They’re known to engage in predatory lending practices and rely on tribal arbitration to resolve customer disputes.

Are there any legitimate payday loans?

Yes, legitimate payday lenders do exist. To qualify as “legitimate,” the lender should be licensed to operate in your state, follow local lending laws and clearly disclose fees and repayment terms. Examples of legitimate payday lenders would be ACE Cash Express and Check Into Cash.

But just because they offer legitimate payday loans doesn’t mean they’re a great choice. Payday loans are still one of the most expensive forms of borrowing, as the fees you pay end up equalling triple-digit APRs. So, if you find a less expensive way to fill the gaps in your budget, take advantage of it.

7 ways to tell a payday lender is legit

The following should help you find legit payday lenders more easily:

  • Accredited by the BBB. The BBB is more than a century-old nonprofit organization that helps identify trustworthy businesses. A high business rating (A+) can indicate the business handles complaints promptly, has adequate licensing and more. However, if it isn’t accredited you can confirm legitimacy using other review sites like Trustpilot.
  • Provides contact details. If a lender provides no more than a contact form or an email address, see how responsive it is before you apply. A legitimate payday lender shouldn’t shy away from providing a physical address, phone support or live chat.
  • Transparent. Direct lenders of legit short-term loans are legally required to be upfront about the fees and costs over the loan term, and must adhere to maximum limits. Your loan contract should clearly set out all applicable fees and charges.
  • Doesn’t guarantee approval. If you encounter a website that claims to provide guaranteed short-term loans, it may be a scam. No legit lender will guarantee approval before you submit an application.
  • Abides by state regulations. With legit payday loans, you don’t have to worry about lenders charging you more than the maximum limits set by the state. Check the regulations in your state to make sure your lender is operating legally.
  • Doesn’t require money upfront. One of the biggest red flags is when the lender requests money up front. Origination fees are paid out of your loan amount, and you shouldn’t have to pay anything before you borrow.
  • Checks ability to repay. Payday lenders are no longer legally required to make sure you can afford repayments in all states. But legit lenders will still ask about your monthly income and expenses when you apply.

Are payday loans available in my state?

Hover over your state to see if payday loans or installment loans are legal where you live. Click or tap to see loan options in your state.

Why go with an alternative instead?

Payday loans can feel like a quick fix, but they often come with high fees and short repayment windows that make it easy to fall into a cycle of debt. If you can’t repay the loan in full by your next payday, the costs can quickly add up, especially with APRs that often reach 300% or more.

Cash advance apps can get you small amounts of cash with no interest or required fees. Installment loans and personal loans give you more time to repay, often with fixed monthly payments and lower overall costs. Even if you have bad credit, you may still qualify for bad credit loans that are more flexible and transparent.

Many of these alternatives offer fast funding, in some cases as soon as one day, and don’t come with the financial risk that payday loans do. Before committing to a high-cost loan, it’s worth comparing your options to find something that works better for your budget.

Bottom line

Payday loans can help in a pinch, but the short repayment window and high fees make them one of the most expensive ways to borrow. And if you miss the due date, costs can add up fast, making it easy to get stuck in a cycle of repeat borrowing.

Before you take out a payday loan, explore less expensive options. Even if you have bad credit, there are other — and often cheaper — options for accessing quick cash, including cash advance apps and alternative bad credit lenders, like OppLoans.

Recap of best payday lenders:

Frequently asked questions

What is a payday loan?

Payday loans are short-term forms of financing that are typically available in amounts ranging from $50 to $500, depending on your state of residence. And they’re expensive — most come with high fees that translate to APRs in the triple digits.

How do you find the best payday loans?

To find the best payday lenders, do a search for those in your area or online, then check ratings from past customers on Trustpilot and Google. Also, visit the BBB website to see if the lender is accredited — if so, that’s a sign it’s one of the best.

Once you’ve narrowed it down to a few payday lenders, compare fees, funding speed and repayment terms to find the best fit.

Can I qualify for a payday loan?

To qualify for a payday loan, you typically need to meet the following criteria:

  • Have a steady job or regular income
  • Be a US citizen or permanent resident
  • Be at least 18 years old
  • Live in an eligible state
  • Have a valid US bank account

How long does it take to apply for a payday loan?

Applying for a short-term loan should take around five to 10 minutes, provided you have all the information needed to complete the application.

Are there any low-interest payday loans available?

Not really. Payday loans almost always come with high fees that translate to triple-digit APRs. Even the cheapest payday loans typically cost $10 to $30 per $100 borrowed. If you’re looking for something less expensive, a cash advance app or installment loan might be a better fit.

What are the top payday loan providers in the country?

Some of the top payday loan providers in the US include ACE Cash Express, Check Into Cash and Speedy Cash. These lenders are licensed in multiple states and have been around for years, but their loans are still expensive. Always compare fees and terms before borrowing — even from big-name payday lenders.

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Written by

Writer

Kellye Guinan is a freelance editor and writer, specializing in consumer lending. Her writing and analysis has been featured on Bankrate, MSN and MediaFeed. She holds degrees in anthropology and German language and literature from Middle Tennessee State University. See full bio

Kellye's expertise
Kellye has written 56 Finder guides across topics including:
  • Personal, business, student and car loans
  • Credit scores
  • Car financing
  • Debt consolidation
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Kat Aoki was a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time. See full bio

Kat's expertise
Kat has written 156 Finder guides across topics including:
  • Mortgages
  • Home equity loans
  • Mortgage refinancing
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4 Responses

    Default Gravatar
    JohnApril 26, 2018

    Can funds be deposited onto Walmart debit card?

      Default GravatarFinder
      JhezelynApril 26, 2018Finder

      Hello John,

      Thank you for your comment.

      If you’re referring to the Walmart MoneyCard, according to their website, you can add money to the Card from the website of many banks, credit unions and financial institutions with an electronic funds transfer. This means that funds can be deposited into this account through a bank transfer. I hope this helps.

      Regards,
      Jhezelyn

    Default Gravatar
    FrankieApril 16, 2017

    I’m in need of a small loan but don’t have a checking or savings account. Is there any other way around it?

      Default GravatarFinder
      AnndyJune 15, 2017Finder

      Hi Frankie,

      Thanks for your question.

      If you need funds quickly but don’t have a bank account, you may consider getting a payday loan from a lender and have the funds deposited onto a prepaid debit card. You can start comparing debit card loans and checking if you are qualified.

      Please do review the requirements and eligibility criteria when you apply.

      Cheers,
      Anndy

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