We're sorry, but we're no longer reviewing this service

This could be for many reasons but some of the most common are that the product has been discontinued or we no longer recommend it. Please see our comparisons and reviews of similar services below for our top-ranked alternatives:


Texas Payday Loans

Updated 05-04-2015

Need a little extra cash, but don't know where to turn? Texas residents who have less-than-ideal credit and find themselves with unexpected expenses, may qualify for a short-term loan from a payday loan provider. These short-term loans don't involve a credit check, and you can apply right from the comfort of your own home and have the funds electronically deposited in your account. All you need are the basics such as a checking account, current employer, driver's license, current address, and a Social Security number. In Texas, you can take out a loan of up to $1800.00 for a fee of about $25.00 per $100.00 that you borrow (depending on the provider). Loans are paid automatically on your next payday.

Not a Texas resident? Choose your state here:

Texas Payday Loan Reviews


Services: Our Ratings: Bottom Line:
LendUp Rating:stars
Inventive points system allows you to borrow more at better rates; emphasis on credit building with reporting to credit bureaus; no BBB rating
Cash Central Rating:stars
Repeat borrowing incentives are a pluse, but privacy policy could be more customer-friendly
CashNet USA Rating:stars
Repeat borrower incentives, clear website and 24/7 customer service

NextAdvisor Blog Headlines

4 Films to Watch Online This Labor Day Weekend
Sep 4, 2015 - Did you know that Labor Day was originally created to recognize the union movement in the United States? Now we celebrate this national holiday that's free of work and school to take the time to sit back, relax and enjoy a nice BBQ just before the fall weather starts to set in. In honor of [...]

$1.2 Billion Lost to Business Email Compromise Scams This Year: How Can Your Business Stay Safe?
Sep 4, 2015 - Businesses small and large are targeted constantly by scammers and hackers, but small businesses are the most vulnerable due to limited resources to devote to IT and other preventative measures. One of the biggest scams targeting businesses in recent years is known as Business Email Compromise (B...

3 Audiobooks to Teach You a New Life Skill
Sep 4, 2015 - Whether you're looking to buff up on your conversational skills or learn how to interact with and inspire others, an audiobook might be just what you need. Many people opt for audiobooks because it gives them the chance to breeze through any number of titles from just about anywhere. In addition ...

How to Choose the Right Online Backup Service
Sep 3, 2015 - Choosing from the plethora of online backup services available today can be overwhelming, to say the least. That's because each provider seemingly offers the same essential service, but each of them has its own approach to online backups, as well as different features, prices and upgrades. Becaus...

Stitch Fix or StyleMint: Which Fashion Club Should You Choose?
Sep 3, 2015 - The constant evolution of the Internet has impacted our lives by making things more easily accessible, especially when it comes to online shopping. You can order just about anything online and have it delivered directly to your doorstep. Fashion clubs are no exception to this rule. These services...

Payday
Loan
Overview

How does a payday loan work in Texas?

Sign up online with a payday loan company providing information such as the name of your employer, salary, requested loan amount, and basic financial data. In Texas, registered payday loan companies act as CSOs (Credit Service Organizations), which means they act as intermediaries between you and a 3rd party financial institution. Your credit will not be checked, but a basic verification using checking databases will be run. If the payday loan company is able to extend a loan to you, you'll receive an email detailing the terms. Once you read and accept the terms, the money will be deposited in your account, generally the next business day. Then, on your payday, the payday loan company will automatically withdraw the amount of the principal, plus the loan fees, from your checking account. For more information on why it's important to borrow from a payday loan company that's registered as a CSO in Texas, please see our Texas Payday Loan FAQ.

Refinancing your loan

While you should only take out a payday loan if you can pay it back on your very next payday, there is an option if you don't have the money. Most payday loan companies will let you refinance your loan up to 4 times, if you pay the original fees, and accept new loan fees of the same amount (you must contact the payday loan company before the due date, generally 1 to 2 days). While convenient, those fees can really add up; refinancing just once on a $100.00 loan can cost you fees and interest equivalent to roughly 50% of your original loan.


Fees and APRs

The loan fees you pay have two parts: the payday loan company's fee and the 3rd-party financial institution's interest rate (regulated by Texas law to be no more than 10% per annum). The payday loan company's fees are not regulated, but tend to run between $22.00 and $25.00 per $100.00 borrowed. By law, these total fees must be represented as APRs (Annual Percentage Rates) so customers can compare them with credit card fees. Of course, these loans are paid off much more quickly than credit cards, since they depend on your pay period, not a recurring monthly billing cycle.


Sign Up For Our Newsletter



Advertiser Disclosure: NextAdvisor.com is a consumer information site that offers free, independent reviews and ratings of online services. We receive advertising revenue from most but not all of the companies whose products and services we review. For credit cards, we review cards from all of the top 10 US issuers by purchase volume (according to Issue 1035 of The Nilson Report, Feb 2014) excluding issuers that require additional accounts to be a cardholder and private label issuers. We may also review cards from other issuers in select cases. We do not review all products in a given category. We are independently owned and operated and all opinions expressed on this site are our own.