Frequently Asked Questions about Cash Advances

What is a Paycheck Cash Advance?
Also known as payday loans, pay day loans or cash advances, these are very short-term personal loans collateralized against your next paycheck(s). For many people it's the easiest and fastest way to access quick cash between paydays. Simply submit an online form and our lenders may be able to transfer your loan amount on the next available bsiness day.

How do I qualify for a payday loan?
Qualifying for a payday loan is easy with Platinum Cash Advance's chosen lenders:

How long does it take to get approved?
Customers typically receive payday loan approval within a few hours of applying. If approved, most lenders are able to fill your loan request overnight, which results in a direct deposit into your bank account on the next possible business day.

Will my credit or bankruptcy hurt me?
No. Many of our lenders can work with you if you have a less than perfect financial record.

What about collateral?
Your job and your paycheck are the only collateral you need.

Do I need direct deposit?
Yes. Our lenders can only process your payday loan if your paycheck is direct deposited.

Is my information secure?
Very secure. This site uses a host of security measures to ensure the safety of your confidential financial information. All sensitive information transmitted between your browser and our website uses 128 bit Secure Socket Layer (SSL) encryption technology.

How often can I get a payday loan?
Platinum Cash Advance's lending partners are here to help anytime you need extra cash between paychecks. Our lenders encourage all clients to keep in mind that a paycheck cash advance loan is a only short-term answer to an urgent cash need, and to use these loans responsibly. Paycheck cash advance loans should not be used repeatedly to deal with continuing budgeting issues. If you need additional help with credit, budgeting or debt management, please call the National Foundation for Credit Counseling at 1-800-388-2227.

How is my loan amount determined?
State law limits the payday advances to amounts from $100 to $1500, though this may vary depending on your state of residence. Your actual loan amount is determined by various other factors including take home income.

What are the fees for a payday loan?
Loan fees vary. Platinum Cash Advance makes use of several lending partners, each with their own fee structure. All lenders' fees are competitive in the industry and regulated by state and federal laws.

When is the loan amount due?
Paycheck cash advance loans are usually due when you receive your next paycheck via direct deposit, but this will vary depending on which lender you work with. The standard time for loan repayment is usually no less than seven days and no longer than eighteen days.

*Some additional terms and conditions may apply. Please ask your loan consultant about
all of the repayment options.