Cash City USA

Frequently Asked Questions (FAQ)

How do I get my first on-line loan?

Fax us the required information and fill out the on-line application. When your application is approved, the money will be deposited directly into your account, or we can also mail you a money order. Very Easy!

How much does my loan cost me?

The short answer is 391.07% APR. This ends up being $15 for every $100 you borrow for a two week period of time. We charge interest on a daily basis, so if you choose to payoff your loan after 1 week, you will only owe $7.50 in interest for each $100 you borrow. Please take a look at our fee page.

Your right to Rescind

By law you have the right to rescind your loan up to 5:00 pm on the next business day following the loan creation without paying any interest or fees.

Can I apply over the phone?

Yes you can! Just call (801) 569-3569 between 5:00 pm and 8:00 pm Mountain Time. An associate will take your call and help you through the loan application process. When your application is approved, the money will be deposited directly into your account, or we can also mail you a money order.

Does Cash City USA run a credit report?

Not at this time. In the effort to keep our delinquent account balance low which directly helps keep our rates low, we have thought about it, but have decided to not pursue this tactic.

What if I have bad credit?

Not a Problem! Many of our customers suffer from a not-so-positive credit score and are still very good and loyal customers.

How long does it take to get a new loan?

This question is a little more difficult. It depends upon how long it takes to verify your information. The time may vary, but usually within 24 hours on new customers. If you are an existing customer, it can be much less.

How much money can I borrow?

The amount of money you can borrow depends upon your income. We have rate tables that help us dictate the best amount that you can feasibly pay back. However, the longer you are with us, the more you will be able to borrow. As we are able to review your payment history, we will be able to increase your available loan borrowing power (credit limit).

Does my credit line ever increase?

Yes! We want to reward your good payment history. If we have not automatically raised your credit limit with us, you can ask us to review your payment history in an effort to raise that limit.

How do I get the money and then make payments?

For new customers, you can follow the new loan process to send us the required documentation and fill out the application. Once you are approved, we will deposit the money directly into your bank account, or we can mail you a money order. For existing customers, simply request a loan amount and we will get that money to you as mentioned above. Payments are made electronically, or you can mail in your payments to our office.

What does a Cash City USA loan cost me?

We charge a simple interest rate based on your current principle balance. Please review our rates page for the full details.

What if I'm not ready to pay the loan back?

For payday loans, the state of Utah only allows these loans for 12 weeks, which is 84 days. At that point, by law, we are forced to ask for the loan to be paid in full. We can give you the money back in another loan, but the loan has to be paid off.

Can I pay down the principle or pay the loan off early?

We love to have our customers succeed by paying down their loan, or by paying the loan off completely. Your success is our success. We encourage principle payments which reduces the interest that you have to pay back. You can payoff your loan at any time with no penalty. You only pay the interest that has accrued.

What if I want to extend my loan?

Upon your request, you can extend the loan by paying the accrued interest. You may also pay any amount you wish toward the principle of the loan at any time. Paying down the principle is always a good course of action as it will reduce balance of the loan and the interest that will accrue for your next payment.

When can I make a payment?

Normally, payments are every 14 days, but you can make a payment at any time you wish. Since we do not charge any interest until it is accrued, you only have to pay the accrued interest at the time of your payment and any additional principle that you wish to pay in order to decrease your loan balance.

How do I get additional loans?

Once you have had a loan with us and it's paid back, you can go to the member area and request a new loan. Once we have that request, we approve it and get you the money. There is still an approval process, but it is different and more simplistic for existing customer than for first time new customers.

What happens if I can't pay back my loan?

There are times when a customer gets into trouble or insurmountable problems happen to them. We understand this and are very sympathetic. We have our own in-house collections that will work with you to minimize how payments are made in order to get the loan paid off. This process will most likely reduce your credit limit with us, but you can remain a customer in good standing and will retain the benefit of being able to borrow from us again.

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