Advance Financial 24/7

Advance Financial, 100 Oceanside Drive, Nashville, TN 37204
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You have financial difficulties and heard that Advance Financial 24/7 offers loans.

But there are so many other financial services companies offering loans in the market, it can be really hard to decide which one to choose.

Is Advance Financial 24/7 your best option?

Advance Financial 24/7 is a good loan option if you don’t have a great credit score. If you want lower rates and larger loan amounts, there are better options for you.

Keep in mind that Advance Financial 24/7 is only available in 12 states, so this review will mainly benefit those living in those areas. Let's dive in!

Advance Financial 24/7 Overview

Advance Financial 24/7 is a financial services company that offers short-term loans, installment loans online, and lines of credit. The company's mission is to provide financial services that are convenient, accessible, and reliable.

One of the unique things about Advance Financial 24/7 is that they are open 24 hours a day, 7 days a week, making it easy for people to access their services at any time.

Advance Financial 24/7 Highlights

  • Loan amounts: $25 to $4,000.

    It depends on the state you live in and the type of loan you apply for. The loan amounts and terms vary based on the borrower's creditworthiness and income.

  • Interest rate: 240% to 360%
  • Loan types: short-term loans, installment loans, and lines of credit
  • Credit check: Advance Financial 24/7 does not require a credit check for its short-term loans, installment loans, or lines of credit.
  • Minimum credit score: Not disclosed
  • Available States: Advance Financial 24/7 is currently available in 12 states across the United States, including Tennessee, Texas, Missouri, Alabama, Delaware, Idaho, Kansas, Mississippi, North Dakota, Utah, Virginia, and Wisconsin
  • Approval Speed:They claim to approve applications within 48 hours.
  • Funding time: within 1 business day of approval.
  • Repayment terms: Not disclosed. However, repayment terms vary depending on the type of loan and the borrower's state of residence.
  • Customizable Payment Dates:Advance Financial 24/7 allows customers to customize their payment dates.
  • BBB Rating: Advance Financial 24/7 has been accredited by the Better Business Bureau (BBB) since 2005 and currently has an A- rating.
  • Payment Options:

    Automatic Payments: Customers can set up automatic payments through their bank account, ensuring that their payments are always made on time.

    Storefront: Customers can visit any of the Advance Financial 24/7 store locations to make their payments in person. This option allows customers to pay with cash or check.

    Credit/Debit Card: Customers can also make their payments using a credit or debit card through the company's website.

  • FLEX Loan Fees:

    Cash Advance Fee: No

    Origination Fee: No

    Prepayment Fee: No

    Late Payment Fee: No

    Statement Balance Fee: No

  • Advance Financial 24/7 doesn't charge late fees.
  • Advance Financial 24/7 offers various in-store services.
  • Advance Financial FLEX Loan charges high-interest rates.
  • Advance FINANCIAL 24/7 only offers loans in 12 States.
  • There is very little information about Advance FINANCIAL 24/7 online.
Bottom Line

Advance Financial 24/7's overall performance is average. While it has a quick and easy loan process, customers have complained about high-interest rates and fees.

Where Advance Financial 24/7 Loans Stand Out

Advance Financial 24/7 doesn't charge late fees

Advance Financial 24/7 does not charge any late fees. This means you do not have to worry about paying extra if you miss a payment. This policy is designed to help customers manage their finances without added stress or penalty.

Advance Financial 24/7 offers various in-store services

It also offers a range of in-store financial services to meet customers' needs. As a customer, you carry out services like cashing, money orders, bill pay, and Western Union money transfers in any of their 100+ store locations throughout Tennessee.

Where Advance Financial 24/7 Loans Fall Short

Advance Financial FLEX Loan charges high-interest rates

One major drawback of Advance Financial 24/7 is that its FLEX loan comes with high-interest rates. If you already have financial struggles, Advance Financial 24/7, may not be the best option for you. It is easy to get trapped in a cycle of debt.

Advance FINANCIAL 24/7 only offers loans in 12 States

Another downside is that it only operates in 12 states. This limits the availability of its services to a large segment of the population. Thus, if you don't live in any of the covered states, you can't have access to their services.

There is very little information about Advance FINANCIAL 24/7 online

There is also a lack of transparency in terms of its operations and services. Very little information about their operations is published online.

Compare Advance FINANCIAL 24/7 with other lenders

This loan platform is best for individuals who need quick access to short-term loans, but not for everyone.

If you are looking for affordable financing options, Advance Financial 24/7 is not for you. The high fees and interest rates make it unaffordable to financially struggling borrowers.

You can also check out other cheaper financing options, like BadCredit Loans and Personal Loans.

Here is a comparison of these platforms:

Advance FINANCIAL 24/7
Personal Loans™
240% - 360%
5.99% - 35.99%
5.99% - 35.99%
$25 - $4,000
Loan Amount
$1,000 - $35,000
$500 - $10,000
Loan Term
3 - 72 months
3 - 72 months
BBB Rating

Advance FINANCIAL 24/7 vs. Personal Loans™

Personal Loans™ offer lower interest rates compared to Advance FINANCIAL 24/7, with rates starting at 5.99% and going up to 35.99%, while Advance FINANCIAL 24/7's APR ranges from 240% to 360%.

Additionally, Personal Loans™ offers a wider range of loan amounts, ranging from $1,000 to $35,000, while Advance FINANCIAL 24/7's loans start from $25 up to $4,000.

Personal Loans™ also offer longer loan terms, ranging from 3 to 72 months, which may provide more flexibility for borrowers to manage their payments. On the other hand, Advance FINANCIAL 24/7's loan terms may vary, depending on the terms of the specific loan.

In essence, if you need a larger loan amount and are looking for lower interest rates, Personal Loans™ may be a better option. However, if you need quick cash and have poor credit, Advance FINANCIAL 24/7 may be a viable option to consider.

Advance FINANCIAL 24/7 vs. BadCreditLoans

Advance FINANCIAL 24/7 offers loans ranging from $25 up to $4,000, while BadCreditLoans offers a larger range of loans from $500 up to $10,000.

Additionally, BadCreditLoans offers lower interest rates, with rates starting at 5.99% and going up to 35.99%, compared to Advance FINANCIAL 24/7's APR, which ranges from 240% to 360%.

One potential drawback of BadCreditLoans is its lower BBB rating of C- compared to Advance FINANCIAL 24/7's A- rating. A lower BBB rating may suggest a higher likelihood of customer complaints and negative reviews.

Requirements for Advance FINANCIAL 24/7

To apply for a loan with Advance FINANCIAL 24/7, you must meet the following requirements:

  • Be at least 18 years old or the state minimum.
  • Have a government-issued photo ID.
  • Have an active checking account in your name.
  • Have a valid phone number and email address.

Credit Score Requirements

Advance FINANCIAL 24/7 is willing to work with individuals who have less-than-perfect credit, unlike traditional lenders that may require a high credit score.

While they may offer loans with no credit checks, it's important to note that higher credit scores may result in better loan terms and interest rates.

Employment Statuses Considered

Advance Financial FLEX Loan only considers borrowers who are employed. So, you must have a verifiable source of income. They consider the following employment status when evaluating loan applications:

  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired

They also consider the following Income types:

  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card

Immigration Status

Their loans are available to U.S. citizens and U.S. permanent residents. This means that individuals who hold a valid green card or have been granted lawful permanent resident status in the United States are eligible to apply for a loan with Advance FINANCIAL 24/7.

Joint Loan Applications

Advance FINANCIAL 24/7 typically accepts individual loan applications rather than joint loan applications. This means that only one individual can apply for and be responsible for repaying the loan.

If you are in need of a loan but are not eligible for an individual loan with Advance FINANCIAL 24/7, you may want to consider other lenders that offer joint loan applications.

6 Steps to Apply for a loan at Advance FINANCIAL 24/7

Advance Financial 24/7 allows borrowers to apply in any of the physical stores or on their website.

You can choose the most convenient option for you. If you choose to register at their physical store, you would need to look into the nearest locations near you. Currently, Advance Financing 24/7 has about 100+ stores scattered across Tennessee.

If you choose to apply online, just follow the steps below:

Step 1: Go to the af24/7 site.

Step 2: Click on the Get Cash now Icon.

Step 3: Open an account with the platform. You can choose to use your Google, Facebook or LinkedIn account to sign up.

Step 4: Fill out the required application form. This requires that you put in certain information, like your name, email address, address, Social Security Number, source of income and others.

Step 5: Go over the form to ensure that the information is correct.

Step 6: Submit the form and wait for pre-approval.

How CreditYelp rates Advance FINANCIAL 24/7

Overall 3.5/5 Explanation
Requirements & Application 4/5 The Application process is fast and easy. Its requirements are simple and straightforward.
Loan accessibility 3/5 The loan range is quite low. The platform only offers loans from $25 - $4000.
Affordability 3/5 Its interest rate is high. Making it less affordable.
Customer experience 4/5 They have good customer reviews and ratings on Reddit and platforms. But some customers complain about high-interest rates and fees.

Advance FINANCIAL 24/7 FAQs

What in-store services do Advance Financial offer?

Advance Financing 24/7 offers several in-store services like, check cashing, money orders, photocopies, bill pay, faxing, and Western Union money transfers.

Is Advance Financial a legit company?

Advance Financial is legit with about 25 years in operation. Founded in 1988, the company has proven itself to be legit.

Is Advance Financial a payday loan?

No, an Advance Financial loan is not the same as a payday loan. 24/7 Advance Financial offers other types of loans, such as flex loans and installment loans, which may have more flexible repayment terms and lower fees than payday loans.

What happens if you don’t pay back Advance Financial?

Interest will keep building up if you don't repay Advance Finance and your account may eventually be sent to a collection agency.

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