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Our mission at CashNetUSA goes well beyond supplying our customers with fast & secure payday loan options - we also strive to provide a resource to the community - offering help, advice & news on the lending community and safe, responsible borrowing & credit-building practices.
A new earnings report released last week further supports CashNetUSA as one of the largest - if not THE largest - online payday loan providers.
Since being acquired by Cash America International Inc. two years ago, CashNetUSA’s earnings potential and financial reports have been grouped together with its parent company’s brick and mortar cash advance operations. On Friday, with the announcement of Cash America’s third quarter earnings report, this all changed.
For the first time since acquisition, consumers outside the company were able to see how large of a player CashNetUSA is in the online payday loan market. Our stance as not only being the most licensed lender, but also the largest and most trusted by consumers, was finally supported by hard and fast numbers.
For more information about the details of this report, Cash America or CashNetUSA’s innovative programs or other financial news, please click here.
Posted in About
How do you know who to trust with your emergency money needs?
A recent federal court case has once again turned the spotlight on under-licensed or dubious lending practices in the short-term loan industry. The result of the case - which found a specific loan company in violation of offering services in a state where it was not licensed - has brought the case for state-licensed lending to the forefront of news and legislation.
In the payday loan industry, companies can use one of three business practices to offer their services:
1. Offshore - An obviously dishonest practice, some companies set up in foreign countries and use legal loopholes to service customers in the US without any form of regulation or legal recourse for unsatisfied customers.
2. Choice of Law - The majority of payday lenders become licensed in a single state, while offering services to consumers beyond that state’s border. That means you could be a resident of Illinois, but be borrowing money from a company established in Utah that does not have to follow the laws and regulations that your legislature has put in place for your protection. The decision from this latest federal case, however, is spelling out the end of these less-than-honest lenders - forcing them to become licensed in more states or be run out of business in favor of fair and honest lenders.
3. State Licensing - Regarded as the most transparent and consumer-focused business strategy, companies relying on the State Licensing methodology actually apply for and are approved by every state in which they do business. This ensures that their customers are receiving full protection from their own state legislature, that the lender is allowed to charge only acceptable fees and must face repercussions if consumers are unhappy with their services. Though State Licensing is the best strategy for consumers, it’s also beneficial for the lender itself - ensuring a long and happy relationship with customers and permission from the state to serve as an accepted financial service.
As Offshore and Choice Law are slowly but surely being pushed towards State Licensing or out of business, current State-Licensed companies such as CashNetUSA are thriving on the successful and fair lending practices which they stood behind all along. With approval for lending in over 30 states, CashNetUSA has become the leader in online payday lending through safe and secure practices, customer-forward services and smart business decisions.
As always, it’s important to know who your personal lender is and what regulations they follow. When you are in need of emergency cash, rely on the lender that has always been, and will forever be, dedicated to the most fair lending services - CashNetUSA.
Posted in Cash Advance Industry
It’s a common - although hopefully rare - occurrence for nearly all of us: some emergency expense or unexpended bill comes up right at the time when you can least afford to deal with it. For years, consumers in a financial pinch have been relying on the speed and ease of payday loans to get them out of their bind. But only recently has online payday lending offered an even easier and hassle-free way to get the money you need quickly.
Speed - Online lenders, such as CashNetUSA, can get you money quickly with just a few clicks of the mouse. Fill out a short five-minute application, sign your loan agreement electronically and you’ll usually receive your money in the next 24 hours or less.
Ease - Online lending now allows for simple application and funding. No longer do you have to drive to the store, wait in line and fumble around with a lot of papers and forms. Apply in minutes and get instant approval without faxing documents and even if your credit is less than perfect.
Security - We have taken steps to make sure your information is kept completely confidential and secure. Benefit from your own online account - accessible 24 hours a day from your own home or office.
Support - CashNetUSA is dedicated to the highest level of customer support. Contact our friendly representatives 24 hours a day, 7 days a week with any questions you might have.
Finally there’s a better way to get the money you need, without all the hassle. Visit CashNetUSA for more information and Make Anyday Payday???.
Posted in Programs and Services
Payday loans, and those who lend them, have traditionally received a bad - and often undeserved - rap from much of the mass media. The majority of this bad publicity seems to come from biased or generally invalid sources and are meant to push consumers away from short-term loan options and towards high-rate credit card lenders.
But new reports from some of the very sources that have blasted payday lending in the past, show a more complete understanding of the role and benefits of these quick and secure loan options.
In January, the Federal Reserve Bank of New York released a report stating that not only were payday loans not considered predatory lending, but in fact they served to enhance the welfare of thousands of underbanked households (read the article here: “Defining and Detecting Predatory Lending,” by Federal Reserve Bank of New York Research Officer Donald P. Morgan).
A similar study has shown that the actions of several state legislatures, designed to chase off these short-term lenders, has actually led to fewer credit options for their citizens, not to mentioned decreased the amount of competition in the lending arena, thereby increasing the fees passed on to consumers (read: “Payday Lending and Public Policy: What Elected Officials Should Know,” by Tom Lehman of the Indiana Policy Review Foundation).
The lesson is simple: it’s important to understand all sides of a debate before making a decision. It’s also vital to know whether or not the sources of the information you find are credible - Federal Reserve Banks, reputable news gathering agencies or government institutions tend to offer the most unbiased information. The more you know - the more equipped you will be to find an honest and trustworthy loan option.
Posted in Cash Advance Industry
The reality is that most Americans don’t have enough saved away for that rainy day. Most of us spend our paycheck within a week of receiving it - and then rely on other more costly ways to make up the rest. But, with a little information and foresight, anyone can work towards saving money and get out of the paycheck to paycheck cycle. Here are five easy ways to change your life:
1. Budget - Most Americans spend above their means by using credit credit cards. Learn how to cut out these expensive debt pits by making a budget of essential spending and sticking to it. Pay for everything in cash - that way you won’t be tempted to break your budget with the swipe of some plastic.
2. Save More - Dedicate a percentage of your paycheck - no matter how small - to a savings account. Shop around for the best deal - while your bank may only offer a 1 or 2% interest rate, new online banking institutions can offer as much as 5%, meaning your money will work harder for you.
3. Invest in Education - Have you ever thought about going back to school? Sure, you may incur extra debt in the form of student loans, but these are usually low interest loans designed to be paid off over an extended period of time. The education you gain, and the monetary successes that will result from that, will reap much higher rewards in the long run.
4. Borrow Smarter - It’s true that sometimes your paycheck just doesn’t quite cut it. In these circumstances, rely on smarter lending options such as a short-term payday loan. Provided that you take out only as much as you can pay back, the interest rate for these emergency cash advances are far lower than bounced check fees, NSF fees or high-rate credit cards.
5. Ask for Help - There are a multitude of resources for those who need help with credit and money issues. Look online for tips on how to save, check out a personal finance book from the library, talk to a credit counselor or discuss your situation with trusted friends or family that have been through the same ordeal.
Americans across all income brackets have the chance to turn their financial lives around and save more money. It’s just knowing how to begin and sticking to your plan that will help lead you to the end of the rainbow.
Posted in Financial Resources
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CashNetUSA is a registered trademark with the U.S. Patent and Trademark Office. (3,210,970) All rights reserved.
CashNetUSA's affiliates only offer payday advance in those states where permitted by the state banking authority. More details are in the "About Us" page.