CashUSA isn’t a direct lender — it’s a loan connection service. Its network of lenders offers loans from $500 to $10,000, and it advertises approval within minutes and funding as soon as one business day. However, it uses a “ping-tree” model, which — instead of matching you with the best lender for your situation — connects you with the lender that pays the most money for your application. While CashUSA freely admits to using this model, it’s not even attempting to find you the best deal. It also (more likely) sells your information to multiple third-party vendors that will try to sell you non-loan products, such as debt relief services.
Pros
- Loans up to $10,000
- Loan approval within minutes
- Funding in as soon as one business day
Cons
- Sells your loan application to the highest-bidding lender
- Sells your information to many other third parties
- May not even connect you with a loan
Overview: Cashusa.com Loans Review
Is CashUSA legit?
CashUSA is a legitimate website that might connect you to a lender. But it will definitely connect you with a whole bunch of non-loan-related products you may not need. If you’re seeking a loan, there are much better places to look than CashUSA.
Where CashUSA falls short
Theoretically, loan connection services should match borrowers with lenders that can offer the best deal based on their individual financial situation — credit score, income level, etc. CashUSA doesn’t even pretend to do that, although you must read the fine print at the bottom of its website to figure that out.
Here is exactly what it says: “We often use a ‘ping-tree’ model… to connect the highest bidder to a consumer. So, if you receive a loan offer, it is likely from the highest bidder and not from the lender offering the best loan terms.”
Even borrowers with less-than-perfect credit have better options than this. For example, OneMain Financial offers secured and unsecured loans up to $20,000, and it doesn’t have a minimum credit score to apply. It also has thousands of positive reviews, unlike CashUSA.
What makes CashUSA shine?
We can appreciate that CashUSA discloses what it does — there’s even a banner at the top of every webpage proclaiming that the service is free, but it “may be compensated for sharing your info and marketing non-loan products.”
However, that’s not a good enough reason to recommend it. There are plenty of other options to get a personal loan from legit lenders that consider a wide range of credit scores.
CashUSA loan details
| Minimum credit score/credit range | No minimum credit score |
| APR | Not disclosed |
| Loan amounts | $500 to $10,000 |
| Terms | Not disclosed |
| Approval turnaround | As soon as 1 business day |
| Availability | Not available in: New York |
| Fees | Varies by lender |
| Other fees | None stated |
CashUSA contact info
| Phone number | 866-973-6587 |
| Customer service hours | Not disclosed |
| [email protected] | |
| X, formerly Twitter | @cash_Usa_com |
| N/A |
How to qualify for CashUSA
Requirements to qualify for loans from CashUSA are similar to most online lenders or marketplaces.
- Be at least 18 and a US citizen or permanent resident
- Be employed for at least 90 days
- Make at least $1,000 a month after taxes
- Have a valid checking account in your name
- Have a valid phone number and email address
How to apply
If you decide to roll the dice and apply, it’s easy.
- Fill out the online application.
- Review your offer if you’re connected with a lender.
- Proceed with a hard credit check if you like the offer.
- Receive funding as soon as one business day if approved for a loan.
CashUSA reviews and complaints
| BBB accredited | No |
|---|---|
| BBB rating | F |
| BBB customer reviews | 1 out of 5 stars, based on 5 customer reviews |
| Trustpilot Score | 1.8 out of 5 stars, based on 14 customer reviews |
| Customer reviews verified as of | 05 December 2024 |
CashUSA has an F rating on the Better Business Bureau (BBB). There are no positive reviews, and almost all the negative complaints are about customers getting calls about loans they never took out. A few complained of excessive solicitation, getting turned down for a loan or the frustration of applying for a loan and instead getting offers for other — unwanted — services.
CashUSA does not fare any better on Trustpilot, where it also has only bad reviews. Most say it’s just a scam to get your information and sell it to third parties, which results in excessive solicitation. Only one reviewer mentioned getting a loan offer from CashUSA but said they were told they needed to purchase credit insurance, which could only be paid for with a prepaid Amex gift card.
Frequently asked questions
How does CashUSA work?
By filling out a loan application on CashUSA, you consent to receive marketing communications from loans and other credit-related products. Once you submit your application, you may be offered a loan. If you’re not offered a loan, you will most likely be directed to other services such as debt settlement, credit repair or credit monitoring.
What is the minimum credit score for CashUSA?
CashUSA doesn’t disclose a minimum credit score to qualify. However, it partners with multiple lenders, so even borrowers with poor credit can apply.
Does CashUSA do a hard credit pull?
When you fill out the initial loan application, there may be a soft credit check, which won’t affect your credit score. If you decide to proceed with a loan offer, the lender may conduct a hard credit check, which can temporarily drop your credit score a few points — even if you’re not approved.
