Splash Cash Advance Review

Splash Cash Advance ReviewSplash Cash Advance is making a splash on the payday loan scene, and you’ve probably seen one of their online advertisements and wondered if they are a good company to do business with. We put them through our review process and came up with our recommendation for you.

The first thing you may or may not notice when you first arrive at their site is that it’s totally encrypted. Every page, including the home page, is hosted on a secure server, so if you do decide to go with them your information will be as protected as possible from third parties.

Splash Cash Advance Review – A Direct Lender

If you’re tired of using a lender matching service and want to deal direct, this is a lender that will make the approval determination themselves and give you the money right from their own account. This means that you could end up shortening the time it takes to get approved, and your information is not shared with dozens or even hundreds of lenders.

American Indian Tribal Ownership
This payday lender is a American Indian tribe known as the Chippewa Cree Tribe. Some borrowers like to know this information because this means that they are acting as a sovereign nation within American soil. They don’t pay state or federal income tax on the money they make, and they are not subjected to the same laws that govern other payday lenders in regards to appropriate collection practices. We have not noticed a difference in the way these types of payday lenders operate, but we feel that it is our responsibility to pull that from the fine print and let you know about it in case it affects your decision.

Fees
The fees charged by Splash Cash Advance are different than you might see at your local payday lender, and they have four tiers of fees depending on your creditworthiness. They say that bad credit or no credit is OK, but by that they must mean that if you have really bad credit they’ll give you the worst rates. Even their best rates are not as good as what you may get in your state. Let’s take Michigan for example, where you can get a $600 payday loan and only end up paying $676.45, for a total of $76.45 in fees. That same loan from Splash will cost you $105 in fees, a difference of nearly $30 for the same money, and that’s the best rate they offer.

Looking at the worst rate they offer, for those with bad credit, you’d end up paying $210 and that is absolutely absurd. If you go into a lender that is following state laws you wouldn’t be able to get a loan at these rates, since it simply doesn’t make sense to pay over $200 just to borrow $600 for a few weeks. It will only serve to make your financial situation worse.

Customer Service
The customer service consists of a toll free number or a form that you can fill out at their website. In almost every lender we’ve ever reviewed the difference lies in the amount of customer service being provided. Some lenders have live chat enabled so that you can talk to someone right away and get your questions answered. Their customer service options come in on the lower end of the spectrum, with business hours of Monday through Friday 5am to 3pm Eastern time, which isn’t very convenient for the eastern part of the country.

Our Recommendation
We recommend against going with Splash Cash Advance because you are going to likely pay more for your loan than you would at a local lender. The money is all the same, so why pay more for it if they aren’t bringing anything else to the table to entice you to do so. You still get it for the same amount of time, you’re not able to pay it off in installments or anything like that, so it’s an apples to apples comparison to the payday lender that is right around the corner. If you live in rural area with no lender nearby, there are still better online options than the one presented here.

Add Your Own Experience to Our Splash Cash Advance Review Below

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