Cash Central Review UPDATED Apr 2024

Cash Central is a state licensed loan company from Utah that offers fast payday loans in 25 US states and has been in the business for more than a decade, with a long list of customers whose testimonials you can view on the company’s website. They take pride in their friendly customer service and 24/7 availability. No matter when you apply, you will receive a response quickly and get your money the next business day or even the same day if you have a Green Dot® prepaid card. Most importantly, with this company, everything is above-the-board, so you don’t have to worry about scams, illegal fees or any other threats to your security that are linked with taking loans from companies that are not licensed by the state.

How Cash Central Works

Cash Central is a direct lender in all states in which it operates, except for Ohio and Texas, where it acts as an intermediary and connects you with unaffiliated third-party lenders.

In order to qualify for a loan with Cash Central, you need to have a source of income (which, in some states, needs to be verifiable), a valid checking account and two valid phone numbers, as well as a social security number. All Cash Central customers need to be of legal age. As you can see, their requirements are rather low and almost anyone can use their services. A poor credit score should not affect your eligibility.

Earlier in this Cash Central review, we mentioned that you may even get the money the day your loan has been approved. This option is available to owners of Green Dot® Reloadable Prepaid MasterCard® or Visa® Card, Insight® Prepaid Visa® Card or any other card accepted in the Green Dot® network. Unlike most other companies offering cash payday loans, Cash Central gives you the possibility to get the money minutes after your loan has been approved, so you don’t have to wait until the next business day. However, keep in mind that loading can take longer if you are a new customer.

Apart from offering you safe loans, Cash Central offers additional perks for its customers, including Credit Plus, which allows you free access to your Experian VantageScore credit score. Credit Plus also lets you track your progress toward more flexible loans with potentially lower rates.

Cash Central is one of the most transparent companies offering this kind of lending service. They also have all the fees and terms clearly listed on the website and available for every state where they offer their services. Check out the Rates & Fees segment of this Cash Central review and take a look at some example figures.

Application process

The process of applying for cash payday loans with Cash Central takes only several minutes and involves three simple steps – entering your personal information, followed by filling in the employment information form and finally, finishing the application. If you get stuck along the way, you can contact support by using the live chat. Once you submit your data, you usually find out whether you are approved in minutes. As we said before, you can get money the same day if you own a prepaid card accepted in the Green Dot® network. If the deposit is made outside of your bank’s business hours, your money will be deposited on the next business day.

You cannot apply for more than one loan at a time. Many states have their own laws on how often an applicant may request loans. If your country does not prescribe such rules, Cash Advance will make sure that you do not already have a loan taken out in order to avoid lending you more money than you can repay.

Repayment Terms

Payday loans are usually meant to be repaid in two to four weeks, but the duration of the loan may vary to some degree in accordance with the regulations of the state where you reside and apply for your loan. The due dates usually co-occur with the dates when you receive your paycheck and on these days, the money is electronically withdrawn from your checking account.

If you are not able to pay back your loan on time, you can get a courtesy extension by applying for the extended payment plan (not available in Ohio at the moment) by 7:45 p.m. EST the business day prior to your due date. There is also the possibility of refinancing your loan and if you qualify for this option, you should notify Cash Central in advance, no later than 7:45 p.m. EST on the business day before your due date.

If you wish to make payments before your loan is due, you can do so through the Make a Payment tab on the website or send money via Money Gram or Western Union. Utah residents also have the possibility to make partial payments (at least $5) without any additional charges. All customers may also make payments to reduce their principal (Make a Payment tab).

Rates & Fees

We have said previously in this Cash Central review that rates and fees differ from state to state. In order to view the allowed amount, duration, rates and fees for your state, you can check out the Rates and Terms section of their website and get an exact answer by selecting the amount you wish to receive and the desired duration of your loan.

Here is an example of what you can expect if you borrow from Cash Central:

If you live in California and wish to borrow $100, you are looking at a $17.64 fee and 459.90% APR at 14 days or 214.62% at 30 days. If you borrow $200, the fee climbs up to $35.28 while the APR remains the same. In this state, you can get between $100 and $255 and the loan duration varies from 4 to 31 days.

The terms and rates are greatly different across states. For example, in Washington, you can get up to $700 and repay the loan in as many as 45 days. In Minnesota, you can borrow up to $350 and repay in less than 30 days. Before applying for a loan, be sure to check the info for your state on the company’s website and get concrete information about all potential expenses.

Bottom Line

Cash Central is among the most reliable and transparent lending companies that offer fast payday loans and their criteria make their services available to nearly anyone who is of legal age and has a job. You get their decision almost as soon as you apply and you can apply anytime, 24/7, even on weekends. The money is quickly deposited to your account and in some cases, you can even get it the same day. Unfortunately, they operate in only 25 states and the terms and rates vary immensely across states. Still, they are quite honest about all the details and offer some nice perks to their customers, so there should be no unpleasant surprises while repaying your loan.