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What is a Cash Advance Loan?

The term Cash Advance may mean different things depending on who you talk to. A cash advance could be similar to a payday loan, it could mean borrowing cash from your credit limit using your credit card, or it could even be a loan from your employer deducted from your next pending paycheck.

Loan advocate ready to help you.

OppLoans offers fast online personal installment loans that you could use like a cash advance.

Typical OppLoans Installment Loans Typical Cash Advance Loans
Loan Amount $500 to $4,000 $500
APR 99 to 199% 400%
Term 6 to 36 months 14 days
May build credit history X
No collateral needed X

Common Cash Advance Questions

Are Cash Advances safe?

Cash Advances like Payday Loans are often not recommended by financial advisors.
They typically carry very high interest rates (400% APR) and are offered for very short terms (two weeks). These high interest rates and short terms can make these cash loans difficult to repay. In fact, four out of five such cash advances are rolled over (extended for another term, at the cost of more fees and additional interest).

If you need an alternative, consider researching a personal installment loan from BBB-accredited and highly rated OppLoans.

Are Cash Advances bad for your credit?

Typically, taking out a cash advance will not have an impact on your credit score (unless you fail to repay it).

If you want to rebuild your credit history, an installment loan could be an alternative
solution for you! Except in the state of Texas, OppLoans reports payment history to
all three credit bureaus.

How do cash advance loans work?

Typical storefront cash advances (also known as payday loans) are usually two week loans secured by your paycheck. The lender has access to your bank account. The loan principal will either be electronically deposited in your checking account or you’ll get cash on the spot. However, repaying a short-term loan can be very difficult and often leads borrowers into cycles of debt.

With a typical credit card cash advance, you use your credit card to take out a cash loan. Your credit card statement will show the cash advance in much the same way that it would if you had bought something. You’re responsible for paying back the cash advance plus fees and interest. Unlike using your credit card for a purchase, with a cash advance you won’t get a grace period in which you don’t have to pay interest.

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Applications submitted on this website may be originated by one of several lenders, including: FinWise Bank, a Utah-chartered bank located in Sandy, UT, member FDIC; Opportunity Financial LLC, a licensed lender in certain states. All loans funded by FinWise Bank will be serviced by OppLoans. Please refer to our Rates and Terms page for more information.

CA residents: Opportunity Financial, LLC is licensed by the Commissioner of Business Oversight (California Financing Law License No. 603 K647).

DE residents: Opportunity Financial, LLC is licensed by the Delaware State Bank Commissioner, License No. 013016, expiring December 31, 2019.

NM Residents: This lender is licensed and regulated by the New Mexico Regulation and Licensing Department, Financial Institutions Division, P.O. Box 25101, 2550 Cerrillos Road, Santa Fe, New Mexico 87504. To report any unresolved problems or complaints, contact the division by telephone at (505) 476-4885 or visit the website

NV Residents: The use of high-interest loans services should be used for short-term financial needs only and not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction.

OH & TX residents: Opportunity Financial, LLC is a Credit Services Organization/Credit Access Business that arranges loans issued by a third-party lender. Ohio Credit Services Organization Certificate of Registration No. CS.900195.000.

OppLoans performs no credit checks through the three major credit bureaus Experian, Equifax, or TransUnion. Applicants’ credit scores are provided by Clarity Services, Inc., a credit reporting agency.

Based on customer service ratings on Google and Facebook. Testimonials reflect the individual’s opinion and may not be illustrative of all individual experiences with OppLoans. Check loan reviews.

* Approval may take longer if additional verification documents are requested. Not all loan requests are approved. Approval and loan terms vary based on credit determination and state law. Applications processed and approved before 7:30 p.m. ET Monday-Friday are typically funded the next business day.

Rates and terms vary by state.

If you have questions or concerns, please contact the Opportunity Financial Customer Support Team by phone at 855-408-5000, Monday-Friday, 7 a.m.- 10 p.m. and Saturday and Sunday between 9 a.m. – 5 p.m. Central Time, or by sending an email to

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