Payday Max Reviews

Payday Max ReviewsYou might be wondering if Payday Max is a lender you should do business with. Reviews on these sort of companies can be hard to find, because they will either pay someone to review their service favorably, or you’ll only hear from the people that are grumpy enough to complain.

Most online payday lenders work essentially the same, ask for the same qualifying information, and provide you the money within the same timeframe. The only real difference is in the details, and how well you’re treated throughout the process. Some of these companies make so much money they don’t seem to care about an individual customer any more, while some are still hungry for business and will treat you as if you are their only customer.

Payday Max does have a few things going for it that make it different from its competitors. The biggest is that they’ll send you the money in the form of cash using MoneyGram. Most people would find this factor reason enough to give them a try.

Payday Max Reviews

The reviews that are listed at Payday Max are basically testimonials and of course have to be taken with a grain of salt. These are obviously people that had a good experience, or were perhaps compensated in some way to give a review and make sure that it is positive. We searched and searched and couldn’t find a lot of unbiased, actual reviews from real customers, so please leave your experience in the comments below if you end up giving them a try. Your actual feedback will be of great value to those that are wondering what kind of company this is.

Qualifications
Payday Max seems to have stricter qualifications than other payday lenders. They don’t hold your credit report against you, but they will be checking with reporting agencies to see how well you make payments on things. If they don’t like what they see, or if you’ve previously abused their service in the past, they might choose not to give you a loan. This is different than some sites that will accept just about anyone, but not as strict as a bank loan that basically rejects everyone.

Bridging the Gap
Don’t want to get your bank account involved in the mess? This is one thing that can be a serious drawback, waiting for money to get deposited into your bank account, especially when you’re overdrawn at the bank and don’t want your payday loan to go towards paying the NSF fees. Payday Max can send the money to you in the form of cash at any MoneyGram location. MoneyGram is a service that is similar to Western Union where you show up, provide the proper identification, and you are handed cash on the spot. There’s just a $10 fee for this option, which can make all the difference if you need the money today and your account is overdrawn. Keep in mind that you will still need to provide your banking information so that you can repay the loan electronically on your payday.

Standard Fees
Their fees are a little on the high side, depending on where you are in the country. For example, here in Michigan you can only get a payday loan out for $600 and the most a lender can charge on that is $76.45. If you take out a $600 loan through Payday Max you are looking at a fee of $111.72, so a $35 difference, which is pretty significant.

Some Philosophy
They say that their philosophy is that a dollar today is better than a dollar tomorrow. This is true to some extent, but not when you have to pay giant fees for that dollar. In their case they are getting more than a dollar tomorrow for every dollar they lend out today, so their philosophy should state that more than a dollar tomorrow is better than a dollar today. In financial matters it’s true, a dollar today is worth more than a dollar in the future, but that is because of inflation. So in this instance the dollar you receive today is worth more than the money you’ll be using to pay back the loan. So you’ll have to work harder to pay that money back, not only because you’ll owe more than you borrow, but also because you’ll be paying it back with weaker money.

Add Your Own Experience to Our Payday Max Reviews Below

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