Navigating your loan journey can be difficult and even scary sometimes. But we want to make things as easy as we can. Here, you’ll find commonly asked questions along with helpful answers and guidance.
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Can I still get an Installment Loan even if I have bad credit?
Yes. Even if you’ve had bad credit in the past, or still have less-than-perfect credit, you may still be eligible for an Installment Loan from Check Into Cash. If you meet our basic eligibility and underwriting requirements, you could still receive the quick money you need, so don’t hesitate to apply.
How do I receive money for my Installment Loan?
If you apply in a store, you will receive same-day cash and walk away with your money, once approved.
If you apply online, your funds are electronically deposited directly into your active checking account, once approved.
Can I have a Payday Advance and Installment Loan at the same time?
No. Check Into Cash only allows you to have one credit product at a time.
Do you check my credit rating for an Installment Loan?
Yes. We gather information from several risk assessment and national databases.
How long does it take to get an Online Installment Loan?
It takes just minutes to fill out our Online Installment Loan application. An approval decision is given immediately on the website at the time of submission. Once the application is received, a customer service representative will contact you to verify your application information. If all information is verified, your funds will usually be available on the next business day.
Do I have to send in documents for an Online Installment Loan?
You may need to provide more information, such as a bank statement and/or pay stub, in addition to your Online Installment Loan application.
When will my Installment Loan be due?
Installment Loans have longer payback terms compared to Payday Loans. So your scheduled payments are spread over weeks or even months. These due dates are aligned with your pay schedule, too.
How much does an Installment Loan cost?
The finance charge for an Installment Loan varies by state. The total interest charged per loan is based upon the principal loan amount and the length of the loan term.
Why is the APR Percentage So High?
APRs (Annual Percentage Rates) represent a rate calculated over a 12-month timespan. However, Installment Loan terms range from weeks to months.
Imagine you asked to rent a hotel room for an entire year. The cost would be huge. Yet, the cost of a single night isn’t so bad. The same logic applies to short-term loan APRs.
What’s the difference between an Installment Loan vs. Payday Loan?
A Check Into Cash Installment Loan has longer repayment terms and typically higher principal loan amounts compared to Payday Loans.
Also, while Payday Loans are designed to be paid off on their specific due date, an Installment Loan involves regular scheduled payments spread out over weeks or months.
Why would I need an Installment Loan?
Installment Loans can provide more money to take care of urgent, big-ticket purchases. Perhaps you need a new appliance, a house or car repair, or are facing unexpected medical or travel expenses.
An Installment loan can help cover some of life’s larger costs.
What do I need to apply for an Installment Loan?
Each state has its own Installment Loan requirements. You may need some or all items below:
- An Active Bank Account
- Government-Issued Photo ID
- Proof of Income
- Most Recent Bank Statement
- Checking Account + Bank Routing Number
- Social Security Number/ITIN
Visit our State Center to see exactly what you’ll need.