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Payday Loan Reviews: Making the Right Choice

Payday Loan Reviews
Payday loans provide many people with quick access to emergency cash to meet their short term financial needs. Payday loans have many advantages, especially for people with bad credit. The popularity of payday loans is steadily rising and the number of payday loan lenders has been increasing.

With many loans companies available, choosing the best payday loan company can be a difficult task. Because of this, there are many internet sites dedicated to presenting unbiased payday loan reviews that can help you make the right choice. These payday loans review sites are worth checking because they give valuable information on various aspects to consider in choosing the best online payday loan service.


It is very important to deal only with legitimate online payday loan service providers with a clean record. There are many loan companies on the Internet that give the impression of stability and reliability because of their professionally designed websites, but impressive websites do not necessarily reflect a company’s integrity.

There are loan scams that also have impressive websites, so you should exercise extreme caution in evaluating payday loan companies based on their websites alone. With the help of payday loan reviews, you will be able to narrow down your choices to the most trusted names in the loan industry.

There are numerous loan websites that fail to deliver the service that they promise or guarantee, which is why complaints have been filed against them with consumer organizations or government regulatory bureaus. Reputable online payday loan review sites only feature payday loan companies with no pending or unresolved complaints filed against them in any government bureau or commission.

These helpful review websites more often than not only feature payday lenders that have been in the payday loan industry for at least three years. A payday loan company who has been in the industry for this long and without any valid complaint lodged against them could be rated as trustworthy.

Loan amount

Many payday loan companies offer almost the same loan amounts. Payday loan reviews may feature different payday loan companies that offer loan amounts that can be as low as £70 and as high as £1,000. There might be some payday loan companies that might offer loans that are a bit smaller or bigger than these amounts.

Many loan companies boast of having high approval ratings. It should be noted that although there is almost a 100% chance of getting a loan approved, there is the chance that a particular borrower will not get an approval for the loan amount being applied for. The payday loan company approves a loan amount based on an applicant’s income and paying capacity. If you have a large monthly income, chances are your application for a relatively large cash advance will be approved.

Service fees

Payday loan reviews show the different fees charged by payday loan companies for comparison purposes, and these fees may slightly vary. On the average, numerous online payday loans charge a fixed flat rate of £25 for every £100 borrowed. Fees of brick and mortar shops are generally smaller because their overhead expenses are smaller. Payday loan reviews highly recommend that borrowers look for payday companies that charge the lowest fees.

Payday loan providers are required to disclose the annual percentage rate of loans that they offer. A number of payday cash advance websites however do not feature this rate. It is highly recommended that borrowers seriously consider loan companies that disclose their fees upfront. This will save the borrower from having to pay hidden charges or higher fees, which might involve a sizable amount.


One important selling point of payday loans is its convenient online application process.

Payday loan reviews guide prospective borrowers on how different payday loan companies fair in speed of service and convenience of application process. Payday loan reviews make mention of sites which offer extremely fast service where loan amount is approved and deposited into the borrowers account in just a few hours.

Payday loan reviews are not just limited to evaluating companies with an online application process. Loan companies that entertain applications over the phone are also featured and evaluated.

Through payday loan reviews, applicants will find payday loan companies that service applications 24/7.  This is an added positive feature which might be important to some borrowers.

Customer satisfaction

Payday loan reviews give unbiased evaluation and comparison of the quality of customer service, rates, and the terms and conditions of different payday advance companies.

Loan review sites show comments from satisfied customers who have experienced quality service by their featured loan companies. By going through the customer feedback section, borrowers will get an idea of a particular payday loan company’s strength. Most comments are on the speed of the faxless application process and the same day release of loan amount. There are also favorable comments on the no fuss qualification criteria and excellent customer service skills of payday loan company personnel.

Payday loan review sites are committed to giving consumers an impartial review of different loan companies. They encourage consumers to share their comments on the rates, terms, and quality of service of payday loan companies they have gotten a loan from. Consumer feedback help future borrowers in choosing the right payday loan company.

Payday loan reviews should be taken seriously. They are useful aids in helping people make the right choice. If you apply for a loan without checking reviews, you may end up dealing with a very incompetent loan company. Dealing with an unreliable loan company will definitely be stressful, and additional stress when one needs financial relief from an emergency is definitely not desired. It is then a very wise move to first consult payday loan reviews before applying for a loan with any loan company.

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