CreditCube Blog

What is Speedy Cash?

Speedy Cash is a lender that specializes in short-term loans. Focusing on generating quick cash, Speedy Cash offers a range of loan products, e.g.

• Payday Loan: A short-term loan designed to be repaid on your next payday.
• Installment Loan: A loan that is repaid repeatedly over a fixed period of time.
• Title Loans: Loans secured by the title of your vehicle.

Speedy Cash is known for its fast application process and same-day financing capabilities. But high interest rates and fees can make it expensive, especially for those struggling to pay debts on time.

Why look for alternatives to Speedy Cash?

Speedy Cash offers convenience and speed, but also comes with a high cost. Special payday loans can have very high interest rates, creating a cycle of debt for many borrowers. In addition, payment systems can be rigid, making it difficult for some individuals to manage their payments.

For these reasons, it is important to find alternatives that offer better information, lower interest rates and greater flexibility. Let’s take a closer look at five loan options that could be viable alternatives to Speedy Cash.

OppLoans

OppLoans is an online lender that offers personal loans without a credit check, making them accessible to uneducated individuals with poor credit histories OppLoans positions itself as a better option for lending on payday, offering longer repayment terms and lower interest rates.

Features:

• Loan range: $500 to $4,000.
• APR: 59% to 199%.
• The payback period: 9 to 18 months.
• No credit check: OppLoans doesn’t do hard credit checks, making it easier for those with poor credit.

Pros:

• Lower Interest Rates: While still higher than traditional personal loans, OppLoans offer lower rates compared to payday loans like those from Speedy Cash.
• Longer repayment terms: OppLoans provide more time to repay the loan, reducing the chances of the loan cycle falling through.
• No credit check: OppLoans approves loans based on factors other than credit score, such as income and employment status.

Cons:

• High APR: While lower than payday loans, OppLoans APR can still be quite high.
• Limited credit: OppLoans offers smaller loans, which may not be enough for larger financial needs.

Who Should Consider OppLoans?

OppLoans are ideal for individuals who need a small loan but want to avoid the high fees associated with payday loans. Its zero-check policy makes it easier for those with poor credit, and the longer repayment period offers more flexibility.

LendUp

LendUp is a direct lender offering short-term loans focused on providing an alternative to traditional payday loans. LendUp’s goal is to help borrowers build credit and improve their financial situation through responsible lending practices.

Features:

• Loan range: $100 to $1,000.
• APR: Varies from state to state but generally ranges from 36% to 299%.
• Terms: 7 to 30 days for payday loans; up to 12 months for term loans.
• Credit reporting: LendUp reports to credit bureaus, enabling borrowers to improve their credit scores.

Pros:

• Credit: Unlike many payday lenders, LendUp reports to credit bureaus, which can help borrowers improve their credit scores over time.
• Flexible products: LendUp offers payday loans and term loans, giving borrowers more options.
• Loyalty Program: LendUp’s Ladder program rewards borrowers with lower interest rates and higher loan rates because they exhibit healthy credit behavior.

Cons:

• High APR: While LendUp APRs may be lower than typical payday loans, they can still be quite high, especially for short-term loans.
• Limited Availability: LendUp is not available in all states, thus limiting accessibility.

Who should consider LendUp?

LendUp is a great option for individuals who need a short-term loan but are also interested in building credit. The ability to notify credit bureaus and the possibility of a lower rate through a ladder system make it a better option than a typical payday loan.

Avant

Avant is an online lender that provides personal loans to borrowers with credit ratings ranging from fair to excellent. Unlike Speedy Cash, Avant offers longer repayment terms and lower interest rates, making it an affordable option for those who qualify.

Features:

• Loan range: $2,000 to $35,000.
• APR: 9.95% to 35.99%.
• Payback period: 24 to 60 months.
• Instant Funds: Funds must be received immediately within the next business day.

Pros:

• Low interest rates: Avant’s interest rates are much lower than payday lenders, making it an affordable option.
• Longer repayment term: With a 60-month repayment term, Avant provides more time to repay the loan, reducing the financial burden.
• Easy application process: Avant’s online application is simple, with quick approval and funding.

Cons:

• Credit Requirements: Avant requires a fair to good credit score, which may exclude some borrowers who rely on payday loans.
• Origination Fee: Avant charges an origination fee of up to 4.75%, which is deducted from the loan amount.

Who should think of the Avant?

Avant is a great option for borrowers who need a larger loan and a longer repayment period. It is especially suitable for those looking to consolidate debt or pay off large debts without resorting to high-interest loans on payday.

Rise Credit

Rise Credit is an online lender offering installment loans and lines of credit with a focus on providing a healthy alternative to payday loans. Rise Credit is known for engaging in financial education and helping borrowers improve their financial health.

Features:

• Loan range: $500 to $5,000.
• APR: 50% to 299%.
• The payback period: 4 to 26 months.
• Credit Line Option: In addition to partial loans, Rise Credit offers a flexible line of credit option.

Pros:

• Credit Repair: Increases credit facilities for credit bureaus, giving borrowers an opportunity to improve their credit scores.
• Flexible repayment options: Borrowers can choose repayment options that fit their budget, and they can choose to repay the loan faster without penalties.
• Financial Education: Rise Credit offers free credit checks and financial education materials to help borrowers make informed decisions.

Cons:

• High APR: While Rise Credit offers lower rates than payday loans, the APR can still be high, especially for poor borrowers.
• Not Everywhere: Rise Credit is only available in a few states, making it inaccessible.

Who should consider Rise Credit?

Rise Credit is a great option for borrowers who want to avoid payday loans but still need quick access to cash. Its focus on credit and financial literacy makes it a strong choice for those looking to improve their financial health.

CreditCube

CreditCube is an online lender that specializes in providing personal loans to individuals who may struggle to get credit through traditional channels. CreditCube focuses on providing fast and convenient loans with a straightforward application process, making it a strong alternative to Speedy Cash.

Features:

• Loan range: $100 to $5,000.
• APR: Loan availability varies by state law.
• Repayment Terms: Adjusts depending on the loan amount and the borrower’s financial condition.
• Early approval: CreditCube offers early approval, typically next business day funding.

Pros:

• Included approval features: CreditCube is accessible to those with limited credit, making it easier for more borrowers to qualify.
• Quick Funding: Borrowers can access their funds quickly, making CreditCube ideal for immediate financial needs.
• Flexible payment options: CreditCube offers flexible payment options, allowing borrowers to choose a plan that suits their budget.

Cons:

• Higher interest rates: Because many lenders target poor borrowers, interest rates can be higher than those offered by traditional lenders
• Limited credit: Maximum loan amounts may be less than some borrowers need for larger debts.

Why You Should Choose CreditCube

CreditCube stands out as a reliable alternative to Speedy Cash for several reasons. First, its inclusive approach to lending enables more borrowers, especially those ineligible for traditional loans due to credit history, a faster CreditCube application process and simplicity ensures that you can get the money you need when you need it, without the hassle and stress that often comes with traditional loan programs.

Additionally, CreditCube offers flexible payment plans tailored to your financial situation, helping you better manage your debt. This flexibility, coupled with CreditCube’s commitment to customer service, makes it a reliable choice for those looking for a lender that truly cares about their financial well-being.

When considering options for Speedy Cash, it is important to carefully weigh the pros and cons of each option. CreditCube's mix of accessibility, speed and flexibility makes it a great choice for anyone who needs a quick loan whose terms can adjust to their own circumstances. Whether you're dealing with unexpected expenses or just need a financial cushion, CreditCube offers a reliable solution.

Final Words

While Speedy Cash offers a quick and easy solution for those in need of short-term credit, higher interest rates and the ability to lead borrowers into a loan are not always the ideal option than and provides the best conditions.

Among these strategies, CreditCube stands out for its commitment to inclusion, flexibility and customer service. By choosing CreditCube you choose a lender who understands your financial challenges and is dedicated to helping you overcome them with the credit you need. Whether you need a small amount of money to pay off unexpected bills or debts great to handle important expenses, CreditCube is a reliable option.