cash express loans reviews and complaints 2024

Cash Express Loans Reviews: Are They Legit or Should You Avoid?

Cash Express is a large provider of payday and installment loans across multiple states in the U.S. As with any lender, it’s important to research reviews to understand customers’ experiences. In this extensive post, we’ll analyze Cash Express reviews from various sources and provide alternatives to consider.

Background on Cash Express

Cash Express has been operating since 1993 and now has over 290 storefront locations. They offer short-term payday loans typically ranging from $50-$1,000 with repayment due on your next payday. Additionally, they offer longer-term installment loans for larger amounts repaid over 6-12 months.

Some key facts about Cash Express:

• Based in Fort Worth, Texas and services 26 states
• Rates and fees vary by state but APRs average 400% for payday loans
• Must be 18+, have valid ID, income source and bank account

While convenient for emergencies, the high costs associated with these types of loans often draw criticism for baiting customers intocycles of debt. Let’s explore verdicts from multiple customer review outlets.

Better Business Bureau (BBB) Review

The BBB gives Cash Express an “F” rating based on 900+ reviews. Major complaint themes include predatory lending practices, poor customer service, difficulty cancelling recurring payments and harassment from collection calls.

Interestingly, Cash Express disputes the F rating, arguing the BBB methodology is biased against the alternative lending industry. However, the volume and consistency of negative reviews is certainly concerning.

Trustpilot Reviews

Trustpilot shows Cash Express earning a mediocre 3.2 out of 5 star rating based on 16 reviews. While a few praise the easy application, most criticize confusing contracts, repeated late fees and aggressive collections tactics even after paying off loans.

Reddit Discussions

Reddit forums analyzing Cash Express tend to advise avoidng them if possible due to predatory rates and non-transparent practices. Some share horror stories of mounting fees sinking them deeper in debt over time with no way out.

Other Review Sites

ConsumerAffairs shares a 3.9 rating for Cash Express based on 400+ reviews. Major issues involve hidden fees, faulty credit reporting and inability to get helpful customer support. WalletHub rates them 3.5 out of 5 based on 600 reviews citing high costs and poor communication.

Cash Express Response

Cash Express defends that payday loans fill a need for credit access and claims a less than 1% customer complaint ratio. However, considering their targeting of subprime borrowers, even small percentages can represent many unsatisfied customers each year.

Alternatives to Consider First

Before getting desperate, explore more affordable options like asking creditors for extensions, using 0% credit cards, seeking charity/government assistance or borrowing from friends/family. Other mainstream lenders may also have better personal/installment loans.

Should You Use Cash Express?

Weighing all available Cash Express reviews, it seems while their loans are likely legit, the unfavorable terms and predatory execution elicit significantly more negative experiences than positive ones:

• Interest will accrue daily keeping people trapped in cycles of debt

• Lack of transparency over costs, inconsistent handling of disputes

• Difficulty contesting dubious charges or stopping auto withdrawals

• Aggressive collection tactics often cited as harassing or illegal

Therefore, unless it’s an absolute last resort emergency, most experts advise avoiding Cash Express, especially for borrowing larger amounts or long-term use due to the high total costs likely outweighing any convenience factor over time. Look to alternative affordable options first before considering high-risk lenders.

Better Alternatives for Borrowing Money

If an emergency necessitates borrowing, here are some ultimately healthier alternatives to risky payday loans:

• Ask existing creditors to waive or lower interest/fees
• Apply for small personal loans from credit unions
• Look into paycheck advance apps like Earnin
• Seek interest-free loans from employee assistance programs
• Research community support from charities/non-profits
• See if family/friends can lend and set payment plans
• Consider debit card cash advances with lower fixed fees

With careful research and planning, responsible credit use through mainstream lenders presents far better long-term financial health than the debt traps associated with locations like Cash Express. Only use them as an absolute last case option.