Advance America Reviews

Getting Advance America reviews you can trust is always a good idea. Based in South Carolina, Advance America is a nationwide payday loan company boasting more than two thousand stores across the US. When a business grows to this size, it usually becomes unmanageable. This is the case with Advance America, as they are slow to adapt new technologies, and are always playing catch-up with their competitors. They are slow to innovate, and lack the vision that will propel them through the Information Age. These Advance America reviews are going to steer you in the right direction.

Advance America Reviews: What to Expect

One prime Advance America reviews example is how long it took them to implement other financial services. For the longest time they only offered payday loans as their sole service offering. They finally started offering MoneyGram services in 2008, years after their biggest competitors were already offering similar services. They are so concerned with doing everything by the book that they miss out on opportunities to offer their customers better service.

Advance America Reviews: The CEO In 2009 the President and CEO of Advance America Kenneth Compton was given over $1.5M as compensation for running the company. This is in stark comparison to a CEO like Steve Jobs of Apple, who famously only receives one dollar as his salary. Jobs is more vested in the success of the company as a whole. It seems that Mr. Compton only wants his fat salary, as the company’s revenue, net income, and total assets are all on the decline. Advance America Reviews says this is a bad scenario.

advance america reviews

Advance America Reviews: The Management

Advance America’s management have blatantly said that the only way the company can stay profitable is to cut costs. These costs usually come in the form of employee compensation or hours. Since a payday advance company is not legally able to raise their prices, when they start to feel the crunch the first people to suffer are its employees. One manager gave the example of McDonald’s. When the price of cheese goes up, McDonald’s just raises the price of its cheeseburger.

In the world of payday advances Advance America is like Wal-Mart. It’s a cold, soulless place filled with employees, management, upper management, and a CEO that are only feigning interest in the customer. Advance America Reviews believes they are only concerned with the bottom line and ultimately their stock price. This kind of store works when you want to find the cheapest price on dog food, but not when you are down on your luck and need some cash before your next payday. Smaller payday loan companies will follow the same rules and regulations that are state mandated, but you’ll get that mom and pop local feel from them, rather then the fake smiles and mediocre customer service from a behemoth like Advance America.

Lousy Advance America reviews mostly stem from the fact that they’re publicly traded. They have shareholders to answer to and the goal of the shareholders is in direct contrast with the goals of the customer. The customer just wants the best value for the dollar, while the shareholder just wants to see profit and a return on their investment. With payday loans the profit comes from multiple loans being made by the same customer. A bulk of Advance America’s revenue comes from people who get stuck re-loaning because they can’t pay their loan back in full. This is detrimental for the customer, who only wanted to make it through a tough time, and not have a monkey on their back asking for money every two weeks.

Advance America Reviews: Final Score Out of 5 Stars Advance America gets 5 on reliability and stability, 2 on customer service, 4 on confidentiality, and 5 on location.

If you’ve had a good or a bad experience and have a specific Advance America reviews, please share it with the rest of us so we can all benefit from the information. Also, if you have any questions about the Advance America reviews we have, you can ask them here, and either one of our staff or another visitor will answer it the same day. You can also feel free to sound off on the cash advance industry itself, and say whether you feel payday loans are inherently good or evil. This will help provide a well-balanced discussion on Advance America reviews.

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