Payday Loan Alternatives

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Installment Loans, the Smarter Alternative to Payday Loans with Bad Credit

Emergencies may come up any time and everyone needs extra money to cope up with the crisis. However, choosing a smart online lender is of paramount importance. Getting a loan from a bank is apparently a lengthy affair and hence not ideal in emergencies. Online lending market is vast with many individual lenders striving to offer loans that are tailored to individual’s financial needs. However, the popular ones are online installment loans and payday loans. Payday loans are easy to obtain but are coupled with financial traps. Therefore, it is sensible to explore better alternatives to payday loans such as online installment loans with Cash Today America.

Payday Loan Alternative

Both Installment Loans and Payday Loans offer funds. Yet, they are relatively different.

Fastness: Easy approval installment loans do not involve extensive documentation and faxing and hence the process is easy and quick. After submitting the loan application online, the loan approval decision is conveyed immediately. Upon approval of loan, the money is deposited directly into your valid checking account within 24 hours. In contrast, payday loan processing involves complex processing and the approval might take a longer time, resulting in delayed funds transfer.

Loan Approvals: Prior to approving installment loans, the direct lenders online, assess the borrower’s repaying ability. Although borrowers with bad credit are also offered installment loans without any credit checks run, lenders consider their monthly net income to process funds. Whereas, payday loan lenders offer loans easily and no credit check is performed. However, if unpaid, involves outrageous interest rates upon loan renewal.


Repayment: Installment loans usually have a longer repayment period with flexible terms. Unlike short-term payday loans that are repaid in full on individual’s payday, installment loans are easy to repay in several payments that are spread across a lengthy loan term. Direct lenders of installment loans work with borrowers to make certain that the planned monthly payments are realistic and convenient. Thus, they can be paid responsibly and regularly with reduced interest and principal, each month, until the complete cash loan is repaid.

Impact on Credit Score: Most of the instant approval installment loan lenders report the lending data to the credit bureaus and hence your positive or negative credit history reflects in the report. An installment loan from direct lenders, when paid dutifully, enhances your credit history and thus builds your credit score, eventually. Thus, it influences your credit score, constructively. In contrast, payday loan borrowers find it difficult to repay on their pay date and thus default on the loan. This can dent ones credit score.

Legal: Installment loans from direct lenders online come with clear lending terms and conditions and thus promote transparency in lending. Besides, they are certified and governed by State and Federal consumer protection authorities. Whereas, payday loan lenders exercise deception and charge unaffordable interest rates. Besides, payday loans are banned in some states.
Considering the ease of applying, instant approval and fast funds transfer, installment loans online are perfect choice in times of financial crisis. Just fill out the short online application, get instant approval, customize the repayment schedule, get cash deposited into your account, and repay in installments. It is this simple. Therefore, avail installment loan with Cash Today America and make an intelligent lending choice.

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We are registered with Utah's Department of Financial Institution to provide Consumer Credit. If you submit this application via the internet to us, we will receive and process it the same as if you submitted it to us in person thereby making Utah the place of negotiation, execution and performance of all applications and/or agreement. If we approve your application, the funds will be disbursed from our account in Utah. Utah law governing consumer loan agreements may differ from the laws of the state where you reside. Applicant is responsible for complying with all statutory obligations regarding obtaining loans by internet that may exist in their state of residence. This service may or may not be available in your particular state.

CashTodayAmerica does not perform any credit checks through the three major credit bureaus Experian, Equifax or TransUnion. We collect required information regarding debtors' creditworthiness from a third party source.

Approval time depends on the authenticity and verifiability of your documents. You might be requested to provide further information if required. Note that we do not approve all the loan requests. On the basis of state laws and your repayment ability, the terms and rates may vary. Any loan requested on Friday after 6:00 PM EST will be processed on the next business day which is usually Monday- unless it is a holiday.

Should you have any doubts, please call our customer support at (855) 840-5688, Monday-Friday: 8:00 AM to 7:00 PM (EST) or email to

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