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Check Into Cash Blog

From tax tips to money-saving tricks, the Check Into Cash blog is your one stop for money talk. Here you’ll find ideas that you can use to save money, time, and energy. Check back for new content every week. If you like a post, be sure to share it with a friend! After all, everyone could use a little extra cash in their pocket.

Check Into Cash 25th Anniversary Giveaway

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Check Into Cash launched their 25th Anniversary Giveaway to kick off the celebration for the company’s 25th year of business. They will be giving away a total of $25,000, in $1,000 increments, to 25 winners beginning in June. The giveaway will run through December 1, 2018.

As a pioneer in the alternative and short-term financial services industry, Check Into Cash is the longest standing payday lender in the industry. Since the company’s inception, Check Into Cash has branched out to include a variety of financial services under their umbrella, earning the title in their slogan — Your One Stop Money Shop®.
The 25th Anniversary Giveaway is a way for Check Into Cash to celebrate their accomplishments and milestones with their customers while also giving back to those who made the company’s achievements possible.

“We are so proud to be able to say that we’ve been serving the community for this long,” said Check Into Cash President Steve Scoggins. “We can’t believe it’s been 25 years since Check Into Cash began, but we’re ready for 25 more.”

Winner selection for the giveaway will begin on June 18th, 2018, at which point one winner will be chosen per week through December 1st, 2018. “25 winners, $25,000, 25 years” said Scoggins. “We’ll be celebrating our 25th year for the rest of 2018 and we’d love to give our customers a chance to be a part of the celebration. What’s a better way to say thank you than with 25 $1,000 cash prizes?”

For more information about Check Into Cash’s 25th Anniversary Giveaway, visit the entry page.

#CIC25Years

Check Into Cash is Celebrating its 25th Anniversary

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Check Into Cash will begin celebrating in honor of the company’s 25th Anniversary this June. Employees and customers alike are invited to be part of the spirit of the anniversary as well. To truly showcase the company’s accomplishments and growth over the last quarter-century, they’ve built an educational campaign full of milestones and momentous occasions that have taken place within the company since its inception. Check Into Cash will also be running a celebratory giveaway that splits $25,000 between 25 lucky winners as a way to thank their customers and the communities that have been a part of the company’s achievements.

“Company pride is certainly going to be strong this summer,” said Check Into Cash President Steve Scoggins. “The company feels like one big family now more than ever. And we’ve been serving our communities and families for 25 years – that’s definitely worth celebrating.”

The celebration will mostly take place in June, the company’s birthday month, but the educational campaign and temporary re-skin of the website will remain in place until the end of the year to fully showcase company pride.

#CIC25Years

Holy Superheroes in Our Midst – The Batmobile Is Coming to Select Chattanooga and Cleveland, TN Check Into Cash Stores

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The 1966 Batmobile has made its way from beneath stately Wayne Manor and will be visiting select Check Into Cash stores in the Cleveland and Chattanooga areas during April and May.

When was the last time you got to hang out with a true legend?

All friends and family, customers and staff, and lovers of Super Heroes and their wheels are cordially invited. Super Villains need not bother – we’re no Joker!

This is the 1960’s TV series model designed by the famed automotive Kar Kustomizer George Barris. It’s turned heads and set the bar for superhero cool for over 50 years. No other automobile can claim bubble canopies, rocket tubes, the Bat Beam, a Detect-A-Scope, and of course, the Bat Phone. There have been other iterations over the years, but none can touch this concept’s iconic Bat-presence or visual POW!
With its atomic batteries fully charged and jet turbine exhaust ablaze, the Batmobile will be swooping into these five Check Into Cash stores in April and May:

Wednesday – Saturday, April 4-7
4620 Hwy. 58
Chattanooga, TN 37416
(423) 893-8866

Wednesday – Saturday, April 11-14
Village Green Town Center
201 Keith St.
Cleveland, TN 37311
(423) 479-2000

Wednesday – Saturday, April 18-21
6101 Ringgold Rd.
East Ridge, TN 37412
(423) 499-5900

Wednesday – Saturday, April 25-28
Across from Walgreens – Dalton Pike
2398 McGrady Dr. SE
Cleveland, TN 37323
(423) 479-2166

Wednesday – Saturday, May 2-5
St. Elmo
3800 Tennessee Ave.
Chattanooga, TN 37409
(423) 822-9803

Don’t miss your chance to spend time with a Bat-legend! Bring the kids and family, get a professionally taken souvenir Bat-photo, and maybe even catch a glimpse of Batman and Robin, provided they’re not off fighting crime somewhere.
But do be there – opportunities like these are scarcer than Caped Crusaders themselves.

The 1966 Batmobile

About The 1966 Batmobile

This Batmobile is on loan for this special tour. It’s owned by Check Into Cash’s Chairman and CEO, Allan Jones, and is part of the Creekridge Classic Car collection. Originally based on the 1955 Lincoln Futura concept car, the vehicle that would become the famed 1966 TV Batmobile was sold to legendary Hollywood auto Kustomizer George Barris for $1.00 in December 1965, and immediately became one of the stars of the series. In addition to Batman, the Penguin, Robin, the Riddler, King Tut, Alfred, Catwoman, and the Bookworm drove it during the show’s 120-episode run.

Check Into Cash’s Social Campaign Raises Awareness for America’s Number One Killer

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Check Into Cash, a national leader in alternative financial services, launched its #LoveYourHeart campaign today. February is American Heart Month and Check Into Cash is proud to join the fight against cardiovascular diseases and stroke.

We encourage you to educate yourself about cardiovascular diseases. Heart Disease is the leading cause of death for both men and women, and knowledge is the key to prevention and getting treatment. This campaign, which will run throughout February, features the CheckIntoCash.com/LoveYourHeart educational webpage. This page contains helpful data, including information about understanding the risks, recognizing the signs, and lowering the threat of heart disease.

“We are proud to continue supporting the fight against heart diseases and stroke,” said Check Into Cash President Steve Scoggins. “Education is a vital part of prevention. The more we know and understand about our hearts, the better equipped we are to keep them healthy.”

The #LoveYourHeart campaign includes helpful links and resources about heart disease prevention and detection. Visitors are encouraged to share the resources on social media to help spread awareness. As part of the social media portion of the campaign, Check Into Cash is going to donate $0.10 per share on Facebook and another $0.10 per retweet on Twitter, up to $1,000 per platform.

“We encourage businesses and individuals alike to join us for National Wear Red Day® on Friday, February 2 to raise awareness about heart disease,” said Scoggins. “By raising awareness, we’re also supporting the fight to find a cure.”

For information about Heart Disease prevention and treatment visit CheckIntoCash.com/LoveYourHeart. #loveyourheart

Dan Gable Museum Receives $25,000 from Sale of George W. Bush Truck

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The proceeds of an auction for the only known vehicle to have been signed twice by a U.S. president will now benefit an Iowa museum named after Dan Gable – the most dominant wrestler in history.

The highlight of the April 8th Barrett-Jackson auction in West Palm Beach turned out to be a white 2009 King Ranch F-150 4X4 pickup autographed twice by President George W. Bush and owned by Allan Jones, the founder and CEO of Check Into Cash. Jones is a longtime wrestling philanthropist both nationally and in Tennessee, where he resides.

The Barrett-Jackson event was broadcast nationwide on the Velocity channel and generated tremendous interest on social media.

The biggest news from the sale of the truck was that $25,000 of the proceeds would go to the National Wrestling Hall of Fame Dan Gable Museum in Waterloo that benefits youth wrestling for boys and girls.

Dan Gable posing
Dan Gable is the most dominant wrestler in history. The museum named in his honor will receive $25,000 thanks to the sale of a once owned by President George W. Bush. Gable is pictured here in front of a bronze statue sculpted in his likeness at the University of Iowa where he was the all-time winningest wrestling coach.

Gable weighed in on the significance of $25,000 going to the museum in his hometown that bears his name.

“Thanks to Janie and Allan Jones and the new purchaser, this money will help countless young boys and girls participating in many wrestling programs,” said Dan Gable. “It will also benefit the Dan Gable Museum’s expansion of its Teaching Center, Wrestling Room, Theater and Museum.”

Gable added:

“The $25,000 from this auction will benefit thousands of youth wrestlers in the next few years as well as the museum,” Gable added. “This is history.”

For Jones, the gift to the Gable museum needs no explanation.

“The work Dan Gable is doing with young boys and girls is important because the youth wrestlers develop a love for the sport and build a strong work ethic that will carry them through life,” said Jones. “Dan and his team also strive to teach the young athletes moral character and good sportsmanship. Winning starts at this level.”

Steve Scoggins, Check Into Cash president, noted that Gable is a wrestling legend whose name is famous all over the world – but especially in Iowa.

Gable had a high school and college record of 181-1 and as an Olympic competitor in the Munich Games of 1972, he brought home the Gold Medal and was undefeated and unscored upon. As a college wrestler at Iowa State University, he was a two-time NCAA champion/three-time finalist and as a coach brought Iowa 15 NCAA titles – nine in a row from 1978 to 1986 – and 21 straight Big Ten conference titles, not to mention Coach of the Year three times.

“It is the pleasure of Check Into Cash to honor this legend and help continue the fine work that he does,” said Scoggins. “Dan Gable is a man who stands in a class of his own and we respect that. He is a great American.”

Dan Gable has been a longtime friend to Check Into Cash Founder Allan Jones and his family.
Dan Gable has been a longtime friend to Check Into Cash Founder Allan Jones and his family. Jones is a longtime wrestling philanthropist both nationally and in Tennessee. Gable is pictured here in 2007 with Will Jones and Bailey Jones.

Prior to the auction in April, the Bush truck was purchased by Jones in 2013 at that year’s Palm Beach Barrett Jackson event. Before selling the truck, Bush kept it at his Prairie Chapel Ranch in Crawford, TX after he left the White House in 2009. It still has the original license plates.

“We originally bought the President’s truck to benefit the National Guard Youth Foundation and always intended to resell it for charity,” said Jones. “I never imagined the F-150 would become such a collectible because the President autographed it not just once – but twice!”

Jones explained that after he purchased the truck in 2013, the Bush signature was accidentally washed off during routine maintenance. When he realized what had happened, Jones asked the President if he would sign it again so that truck could be resold for charity.

Along with the $25,000 to the Gable Museum, the remaining money raised from the auction – $65,000 – was designated for the Higher Calling Youth Wrestling Club in Cleveland, TN (the hometown of Jones). Higher Calling is a wrestling program that gives young wrestlers of all skill levels, grades K through 5, a chance to learn the essentials of practice and competition.

Check Into Cash Launches Love Your Heart Campaign 
for American Heart Month

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Check Into Cash Launches Love Your Heart Campaign 
for American Heart Month

Check Into Cash’s Social Campaign Raises Awareness of America’s Number One Killer

CLEVELAND, TN, February 1, 2017: Check Into Cash, a national leader in alternative financial services, launched its #LoveYourHeart campaign today. February is American Heart Month and Check Into Cash is proud to join the fight against cardiovascular diseases and stroke.

We encourage you to educate yourself about cardiovascular diseases. Heart Disease is the leading cause of death for both men and women, and knowledge is the key to prevention and getting treatment. This campaign, which will run throughout February, features the CheckIntoCash.com/LoveYourHeart educational webpage. This page contains vital data, including information about understanding the risks, recognizing the signs, and lowering the threat of heart disease.

“We are proud to support the fight against heart diseases and stroke,” said Check Into Cash President Steve Scoggins. “When we’re educated about heart disease, we can recognize the signs and limit the risks.”

The #LoveYourHeart campaign includes helpful links and resources about heart disease prevention and detection. Visitors are encouraged to share the resources on social media to help spread awareness.

“We encourage businesses and individuals alike to join us for National Wear Red Day® on Friday, February 3 to raise awareness about heart disease,” said Scoggins. “It is through education that we can move closer to prevention and a cure.”

To learn more about Check Into Cash visit CheckIntoCash.com. For information about Heart Disease prevention and treatment visit CheckIntoCash.com/LoveYourHeart. #loveyourheart

About Check Into Cash

Founded in Cleveland, Tennessee in 1993 by entrepreneur and philanthropist Allan Jones, the Check Into Cash brand is a state licensed and regulated small balance lender. Check Into Cash stores offer check cashing, Western Union® money transfers, prepaid U.S. Money Cards, and other convenient services as a complete one stop money shop.

Check Into Cash is a founding member of the Community Financial Services Association of America (CFSA), the trade association representing the nation’s payday lenders. The CFSA advocates for best practices and helps enact legislation that balances the needs of the consumer with the interests of the industry.

As a national leader and industry standard bearer, Check Into Cash firmly believes in truthful advertising and full disclosure of its services.

©2017 Check Into Cash, Inc. All Rights Reserved.

Hard Money Loans: A Good Alternative

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When financing through a bank is not an option, hard money loans are a good alternative. Considering a hard money loan is a multi-tiered process. And like with all kinds of loans, there are requirements and risks to know about before considering getting started with one. Since hard money loans are a little different from traditional bank or credit union loans, it’s important to know the key discrepancies in order to make the wisest decision for your loan.

What exactly is a hard money loan?

Hard money loans are privately-funded loans secured by real estate. Contrary to loans provided by conventional lenders, hard money loan amounts are based on the value of the subject property. The term usually lasts about 12 months, but can be extended for a couple of years, with required monthly interest payments. Since hard money loans are primarily concerned with the property’s value, borrowers can still have a chance of being approved despite a foreclosure or short sale if they have sufficient equity in their collateral property.

Who should consider hard money loans?

Real estate developers and house flippers usually use hard money loans when they plan on renovating a property and reselling it for profit. An investor who’s been rejected a loan by a bank, whether because of insufficient income history, foreclosures, credit issues or other concerns will opt for a hard money loan, which brings us to the next question.

What are the requirements for hard money loans?

Almost any type of property can suffice to receive a hard money loan, including multi or single-family residential’s, land, industrial and commercial.  Credit score isn’t much of a concern for the lenders,  so long as the buyer has the capital to pay off the interest.

Lenders focus on the “after repair value,” or ARV, when considering whether to make the loan. This is an estimate of what the property’s value will be after it’s been renovated or repaired.

What are the risks in hard money loans?

With every loan there comes a risk. Since hard money lenders actually take on more risk than conventional lenders, there is also more risk on the buyer’s side. Interest rate is one of these, with the average rates rating from 12 – 18% depending on the lender and region, roughly 10% higher than conventional loans. Since hard money loans are so convenient, their origination and loan-servicing fees, along with closing costs are likely to be higher as well. Hard money loans also feature much shorter repayment periods, which is why it’s important to make an accurate estimate for how long it’ll take the property to become profitable.

What are the benefits in using hard money loans?

Hard money loans are sometimes referred to as “last-resort” loans. This is because they almost completely eliminate the massive time consumption that comes with applying for a regular mortgage. Contrary to conventional loans, which can take months to close on and puts investors at risk, hard money loans can be funded within a week and the application process generally takes a day or two. This is especially convenient for investors who are trying to acquire a property with several competing bids. Hard money loans are also more flexible than conventional ones. Since they’re provided by private lenders, borrowers can often tailor the terms to their needs, such as the repayment schedule and other fees.

The last word

If you’re a real estate investor who’s trying to get a seller’s attention and set their offer apart on a property with many competing bids, hard money is the way to go. By making sure you have the equity to pay the interest rates, making an accurate estimate of your property’s ARV and working with a reputable hard money lender, you’ll be fully equipped to fund your real estate deals with a hard money loan.

Looking for Ways to Finance Your Wedding With Loans?

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Your wedding day is one of the most special days of your life, and unfortunately, it is also one of the most expensive days of your life. Most young couples do not have the funds to have the wedding that they want without help from their family. If a couple’s family is unable to help them, there are other options that they can look into to finance the wedding day.

With the average cost of a wedding in today’s prices is over $31,000.00, taking out a loan is something to consider. Today’s young couples have a lot of things to consider when it comes to planning a wedding, and it all begins with a budget so that they have a general idea of the costs involved with the big day. Once the wedding date is set, it’s time to figure out how you are going to pay for it.

Wedding Loans

Some banks offer wedding loans, which allows a couple to borrow as much as $25,000.00 for their wedding—as long as they qualify for the loan. Interest rates for these types of loans are usually quite high, with longer terms, and the money can be used for any purpose that the couple chooses. Many couples are concerned about money and how they will have enough to plan a wedding, so getting a loan for a wedding can help to alleviate stress and worry.

The one disadvantage of taking a loan out for your wedding is that it could cost substantially more once you have paid all of the interest on the money that you borrow. Using credit cards can be even more expensive, adding up to 20% in interest on the end cost, which is why loans are more attractive with lower interest rates.

Crowdfunding

Since many couples tend to live together first before getting married, they may have a lot of the items that make great traditional wedding gifts. Today’s couple can set up a registry of sorts through crowd funding where their relatives and friends can opt to pay for some event or portion of the wedding or the honeymoon.  Registries online allow invited guests to choose something and pay for, such as a room upgrade, a dinner out, surfing lessons, or anything the couple chooses.

Borrow From Your Home Equity

If you own a home, you may have enough equity to borrow against for a loan for a wedding.    Many modern couples are getting married for a second time and already own a home, so they have the equity necessary to finance their wedding. You can borrow as much as $35,000.00 against your home, and the interest rates are much better than a traditional loan. In some cases, the couple is moving into a single home and may wish to sell an extra home and use that money to pay off bills or for wedding loans.

Personal Loan

If you have already looked at a variety of wedding financing options and are out of ideas, then you have the option of taking out a personal loan. Personal loans are a great option to take the stress out of your wedding planning. You get a reasonable interest rate, the amount that you need, and a payment plan so that you can repay the loan over several years once you are settled into married life.

Tips for Getting a Wedding Loan

If you are wondering to yourself how to get financing for my wedding, then we have some tips for you.

Create a Budget

Start off with a bare list that you can find from any wedding site online. Your list should include items like the cake, a photographer, the meal, a DJ for music, and a venue to start off with.  Determine how much you want to spend on each item, come up with a total and then, with the bottom line, apply for your loan.

Banks want to see your plan, laid out on paper before the can approve any amount of money for wedding loans. Your budget is what the bank will use to decide on the amount of money that they will loan to you. Once you have the money funded to you by your bank, you can proceed with hiring vendors and giving deposits to secure those vendors.

Decide what you Want

Decide what it is you want—including the style and location of your wedding. Then, start to plan based on the size of the wedding. Once you have your budget sketched out, you should be able to have a good idea of how much money you need.

Conclusion

The wedding of your dreams is within your reach, but you must remember to keep your dreams realistic. The most important thing to remember is to keep on track of your budget and avoid cost overruns.   

4 Ways To Build Credit with Loans

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Are you looking for more ways to improve your credit score? Building credit can be difficult for some, especially after financial difficulties like bankruptcy. Thankfully, there many ways to help this process along, with credit building loans being one of them.

Credit building loans are nothing new, but they aren’t widely advertised since banks can’t profit from them. With these loans, however, you can kick start the credit building process.
You don’t need excellent credit to be approved for these loans, so long as you can make repayments on top of your existing monthly expenses.

How Do Loans Help My Credit?

credit building by paying loans

Borrowing money and paying it back in a timely manner is reflected on your credit reports, reports made by financial institutions you interact with. This, in turn, makes you look reliable to future lenders. When your credit takes a hit, however, it can be difficult to finance larger purchases. Your credit score can impact everything from getting a job to buying a house, so it’s important to keep your credit in shape by paying things back on time. Defaulting and having bills end up in collections negatively effects your credit, so it’s best to only borrow amounts that you can afford to make payments on.

Loans That Build Credit

building your credit with loans

There are different types of credit building loans available when it comes to building credit. These are a few of the more common options:

1. Passbook or CD Loans

cd used as loan collateral

A CD (certificate of deposit) is similar to a savings account in that your money is insured by the bank, making it a relatively risk free investment. Your bank may allow a CD to be used as loan collateral, though you may only be allowed to borrow up to a certain percentage of the money in your CD account. There are some banks that will allow 100% of your CD or savings to be used for this purpose.

2. Credit Builder Loan

This type of loan is great regardless of the type of credit you have because you will be approved. The reason that you will be approved is because you must pay all the money that you borrow into a designated savings account. You are not able to have any access to that money at all until you have paid the full amount of the loan.

3. Secured Installment Loans

secured installment loans

A secured installment loan allows you to borrow as much as 98% of the balance of your savings deposit. It is the usual policy of most banks that the least amount of the money borrowed is $1,000.00.

There are generally no costs or fees associated with this type of loan, and the borrower does not need to confirm their employment status or income.

You are borrowing money against the money you have on deposit at the bank, and this allows you to continue earning interest on those funds. These types of loans offer lower interest rates than traditional loans or credit cards.

4. Credit-Builder Loans

credit builder loan

These loans are a good tool for someone with bad credit to have the opportunity to build their credit from the ground up. The main reason that loans are necessary for credit building is because the progress and timing of payments are constantly being reported to the credit bureau which establishes a credit rating for the borrower.

Conclusion

Credit building loans are a great tool for people to use when they need to rebuild their credit or if they do not have any credit history. Taking out a loan is a better option than credit cards because the interest is a lot less and the payments are fixed.

When you are trying to rebuild credit using a credit card there is the temptation to use the room that you have on the card by racking the balance back up again.

This is harmful because balances should be kept at 30% of the limit. If you are a person that is not disciplined with credit then you should avoid credit cards altogether.

The first step is to contact a bank that you deal with or hold accounts at. Speak to someone about loans that improve credit scores and rebuilding credit. You should be able to get access to a loan that can help you set up a new and positive credit history.

Financial Tips Month To Month

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Have you checked in on your money calendar lately? Compare your financial habits with these tips to help you stay on track through the rest of the year.

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For rates and terms in your state of residence, please visit our Rates and Terms page. As a member of CFSA, Check Into Cash abides by the spirit of the Fair Debt Collection Practices Act (FDCPA) as applicable to collect past due accounts. Delinquent accounts may be turned over to a third party collection agency which may adversely affect your credit score. Non-sufficient funds and late fees may apply. Automatic renewals are not available. Renewing a loan will result in additional finance charges and fees.