Texas Payday Loans

Texas Payday Loans Reviews & Prices

Are you a Texas resident in need of a short term loan, just until the next payday? We’ve looked at six companies who can connect you to much-needed cash. The chart below breaks down essential data about each company. We strongly recommend going with a payday company that’s registered as a CSO in Texas, versus an off-shore payday lender that’s not. We’ve also listed the APR (Annual Percentage Rate), which is calculated by multiplying the payday loan company’s fee and lender interest over the year, so you can make comparisons to other types of loans.
Updated 01-04-2016

Texas Payday Loans Comparison Chart


Service Name & Rating Loan Range Advertised fee per $100* Advertised APR (14-day loan)** Max Loan Period (based on pay period) Registered Texas CSO BBB Score*** Bottom Line

$100 – $500 $25 316.09% 35 days Yes Not rated 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

$100.00 – $2000.00 $25.38 661.79% 35 days Yes C+ Repeat borrowing incentives are a  pluse , but privacy policy could be more customer-friendly
CashNet USA

$100.00 – $1800.00 (or 35% gross monthly income) $25 325.89% 35 days Yes F Repeat borrower incentives, clear  website  and 24/7 customer service

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 pay day 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 pay day 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 pay day 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 pay day loan company that’s registered as a CSO in Texas.

Refinancing your loan

While you should only take out a pay day loan if you can pay it back on your very next payday, there is an option if you don’t have the money. Most pay day 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.