Archer Direct Review

Archer Direct ReviewArcher Direct is a payday loan that is conducted entirely online, and therefore they say they have a very secure site that can handle your application on the Internet. Some of the things that you have to check for when working with a company like this is whether you can trust the information that you provide will not be used by anyone other than that company. The way to do that is to make sure that you are on a secure server when you are feeling in the application form. We checked the security, and it does check out that they are providing a secure application form for you to use.

Another consideration is how much money you’ll be paying in fees, and that’s one area where Archer just doesn’t measure up. Compared to a local payday lender, one of the nationwide branches that are probably near you, they are very expensive by comparison. If you are in a rural area and can’t make it to a lender, this may be your only choice. In that case you may not have any less expensive options available to you. It’s always best to visit multiple lenders to see the best deal you can find.

Archer Direct Review

Archer Direct is a direct lender, and they don’t share your information with any other lender, so if you don’t get accepted with them you will have to start a new application with a different company. However, they do say that 100% of the applications that are submitted are accepted, so the risk of getting rejected seems quite low. It is nice to know that you are dealing directly with the lender and your information isn’t up for grabs to the highest bidder.

Claims Made
There are a few claims made by Archer Direct that are quite interesting. First is that they say they are 100% online, which means you shouldn’t have to fax any information to them, and they say it is 100% private which means your information will not fall into the wrong hands. They also say that they do not use any credit checks when making their decision, which means that bad credit or no credit should not be something that prevents you from getting a loan. One other claim that they make is that 100% of the applications are accepted. What this likely means is that 100% of the complete applications that have the right information are accepted. If you do not qualify for a loan, there’s no way they can approve you just to keep that number at 100%.

High Fees
Archer Direct is quite expensive, even for a payday loan. If you take out $600 for 2 weeks, you’ll end up paying $780 back, that’s $180 in fees. In the state of Michigan, $600 is the maximum loan amount you can take out for a payday loan, and the fee is $76.45. That means that your first loan at Archer is going to be more than $100 extra than what you would be paying any local lender in the state of Michigan. Each state varies as to how much a lender can loan to you, as well as how much they are legally permitted to charge you.

Many Options
They say that you get to choose your level of email activity, and you can opt out of their promotional communications once you become a customer. They say that their application process consists of just four easy steps, and they say that they’ll walk you through each one. It is nice to see a company that is so dedicated to providing security for their customers, and giving them an option to decline promotional emails. They have a way for returning customers to log back in as well, making it easy to manage your loan once you get approved.

Our Recommendation
Archer Direct appears to be a very trustworthy company, however their fees are quite high, even if you become a qualified member. We already went over the example of taking out $600, and it just seems silly to pay twice as much to them when you can get the same loan from a local lender for half of what they’re charging. If this is your only option, you may want to look into what they have to offer, and give their customer service a call.

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