LoanByPhone Payday Loans

LoanByPhone is a short-term lending company.
LoanByPhone offers loans for customers with poor credit in the case of financial emergency.

If you need money fast to pay for things like car repairs or unexpected bills, a quick loan from LoanByPhone could help. This lender offers payday and installment loans to people with all credit scores. If you have good credit or need higher loan amounts, you could find better rates elsewhere.

LoanByPhone is a short-term loan company owned by Check Into Cash. It offers both short-term loans for borrowers with less-than-perfect credit. Two types of loans are offered:

• Payday loans. While the total amount you can borrow varies by state, LoanByPhone offers payday loans from $100 to $1,500. Terms also vary by state, your due date will likely be two to four weeks after you borrow.
• Installment loans. LoanByPhone offers installment loans between $500 and $15,000. These loans are to be paid back over a predetermined period with monthly payments. The total amount you can borrow and how long you can borrow for varies by your state of residence and application information. Read the terms of your loan carefully to be sure you can handle the monthly payments.

What are the benefits of LoanByPhone?

• Member of the CFSA. LoanByPhone follows the Best Practices outlined by the Community Financial Services Association of America (CFSA), which includes the ability to cancel a payday loan within one business day.
• Informative rate calculator. You can estimate your monthly payment with LoanByPhone’s rate calculator. Simply select your state and loan amount, and LoanByPhone will list your APR, fees and how much you’ll have to repay.
• You can pay off your loan early. LoanByPhone does not charge a fee for paying back your loan early. Contact a customer service representative at 877-577-7977 to get your loan paid off early.
• Backed by Check Into Cash. Because LoanByPhone is owned by Check Into Cash, you can expect to receive a similar experience. Check Into Cash has an A+ rating from the Better Business Bureau and a 4-star rating from TrustPilot, where the majority of its reviews are quite positive.

What to watch out for

• Transferred to Check Into Cash. Filling out an application is simple, but you won’t be doing it all on LoanByPhone’s site. Instead, you’ll be redirected to Check Into Cash to complete a prequalification offer.
• Maximum amount varies by state. States have legal limits on the amount you can borrow from a short-term lender. With LoanByPhone, this means you’re limited in how much you can borrow depending on where you live. Check the rates and terms offered in your state before you apply to make sure they suits your needs.
• Age requirement is 21. Although most states allow people to borrow as young as 18, LoanByPhone won’t extend a short-term loan to borrowers younger than 21.