ACE Cash Express Loans Reviews
13 Min Read
Reviewed by Latoria Williams ACE Cash Express is a direct lending company that has been offering accessible financial services across the nation since 1968. It has over 750 locations throughout the US, more than 38 million customers, and 55+ years of experience in emergency cash assistance. Let’s take a closer look at the company’s features and loan terms to find out whether it’s worth dealing with.
ACE Cash Express Pros & Cons
Here’s a comprehensive overview of the ACE Cash Express’s strong and weak points.
Pros:
- Easy application process;
- Instant approval decisions;
- Available with bad credit;
- No hard credit checks;
- Same-day funding is possible;
- Free loan cancellation within 72 hours;
- No prepayment penalties.
Cons:
- Very high APRs;
- Online application and several loan options are not available in all states;
- Originations and late payment fees may be applied;
- Small loan amounts;
- Short repayment periods;
- No credit-building opportunities;
- Lack of transparency;
- A repeat offender involved in a lawsuit.
Products & Services
Here’s a full list of products and services offered by ACE Cash Express:
- Payday loans. You can request a short-term loan of up to $1,500, depending on your state, and repay the funds in one lump sum when your next paycheck arrives;
- Installment loans. An installment loan is a flexible solution that allows you to obtain up to $2,000 and cover your debt with fixed monthly payments;
- Title loans. Title loans are available in a company’s stores in selected states. You can borrow up to $5,000 by using your car’s title as collateral and keep driving your car while it’s pledged;
- Prepaid debit cards. ACE Elite Card offers no-fee cash withdrawals of up to $100 per day at participating ACE locations with qualifying direct deposits;
- Mobile banking. The company’s Porte mobile banking allows you to manage your money on the go with $0 monthly fees under certain conditions;
- ATM services. ACE allows you to withdraw money in one of the company’s locations with the minimum limit as low as $5. Receipts are provided to confirm your transaction;
- Check cashing. The company allows you to cash all types of checks in minutes with just your ID needed;
- Money orders. You can purchase money orders in ACE stores to send money instead of sending cash.
- Bill payment. This option makes it easy and fast to pay bills online with MoneyGram. You can set it up online or in a store;
- Money transfers. You cansend funds anywhere in the US via MoneyGram Money Transfer at any ACE store.
Please note that some options are not available in all states.
ACE Cash Express Fees, Rates & Terms
ACE Cash Express offers loans between $50 and $5,000, depending on the loan type and the borrower’s income and creditworthiness. APRs vary by state, loan type, repayment period, and the amount borrowed and can range from 396.53% to 661.69%. The company may also charge extra fees for late payments ($15 to $25) or insufficient funds ($10 to $30). Let’s take a closer look at what you can expect to get.
Payday Loans
Payday loans from ACE Cash Express are between $50 and $1,500. The repayment is made within 2 to 4 weeks, typically after receiving your next paycheck. You can obtain them either online or in a store in the following states:
| State | Online Application | In-Store Application | Loan Amount |
|---|---|---|---|
| California | + | + | $100 – $255 |
| Florida | – | + | $100 – $500 |
| Idaho | + | – | $100 – $1,000 |
| Indiana | – | + | $50 – $715 |
| Kansas | + | + | $100 – $500 |
| Louisiana | + | + | $100 – $300 |
| Missouri | – | + | $100 – $500 |
| Oregon | – | + | $100 – $300 |
| South Carolina | – | + | $100 – $550 |
| Tennessee | – | + | $100 – $425 |
| Texas | + | – | $100 – $1,500 |
Installment Loans
Installment loans offered by ACE can be between $50 and $2,000. They provide more flexibility due to their convenient repayment schedule. The average repayment period is between 3 and 6 months. ACE offers both online and in-store installment loans in the following states:
| State | Online Application | In-Store Application | Loan Amount |
|---|---|---|---|
| Delaware | + | – | Up to $2,000 |
| Florida | + | + | $100 – $1,000 |
| Louisiana | – | + | $400 – $700 |
| Missouri | + | + | $100 – $2,000 |
| Ohio | – | + | $100 – $1,000 |
| Oklahoma | – | + | $50 – $700 |
| Texas | + | + | $100 – $2,000 |
| Virginia | – | + | $100 – $1,000 |
Title Loans
Title loans from ACE can only be obtained in selected states by visiting the company’s store. Here’s how much you can get depending on where you live:
- Arizona: $100 to $2,500;
- Louisiana: $100 to $1,000;
- Oregon: $100 to $300;
- Texas (not available in Austin, Dallas, and Fort Worth): $100 to $5,000.
Customer Service Analysis
If you have any questions regarding online products, contact ACE representatives at (866) 223-2274 or email them at [email protected]. For more information about in-store services or other inquiries, call at (877) 223-2274 or send an email at [email protected]. You cal also visit one of the ACE’s stores and talk to its loan officers in person.
The company’s customer support can answer questions about all the products and services and also helps with security and fraud issues. However, borrowers leave unflattering reviews about the team, saying it’s generally unable to help them solve their problems.
Reviews and Complaints
The service earns a 4.6 out of 5 rating on TrustPilot but has 66% of 1-star reviews out of 429 left on the Consumer Affairs website. The rating on BBB is 1.76 out of 5 based on 42 reviews, with 226 complaints closed in the last 3 years and 63 complaints closed in the last 12 months.
Many borrowers note the company has very high interest rates and poor customer service. Some clients received threatening letters about their past due balances after they filed for bankruptcy. Customers also mention they can’t complete the entire borrowing process online in some states and are forced to visit the company’s store to apply or get the funds.
Additionally, ACE Cash Express was involved in a high-profile lawsuit. In 2022, the Consumer Financial Protection Bureau accused the company of generating over $240 million since July 10, 2014, in charging fees from borrowers who were eligible for free repayment plans. The service was also suspected of lying about the number of times it would attempt to withdraw payments from a borrower’s bank account. Thus, the company is considered a repeat offender as it was already paid $10 million in penalties and borrower refunds in 2014 for using illegal debt-collection tactics.
Social Media Presence
ACE Cash Express has active accounts on Facebook, X, and Instagram. These pages cover company news, promote its services, and provide tips on responsible borrowing, credit building, scam detection, and effective money management.
What Do You Need to Get a Loan from ACE Cash Express?
ACE Cash Express loan requirements are quite common. To qualify, you need to:
- Be at least 18 years of age or older;
- Reside in the state you choose for your loan application;
- Have a valid SSN or ITIN;
- Have an active email address and cell phone number;
- Provide proof of income (disability, retirement, and self-employment may be accepted);
- Have an active bank account or a personal checking account that has been open for at least one month;
- Have no current bankruptcy;
- Not be a member of the Army, Navy, Marine Corps, Air Force, or Coast Guard.
ACE Cash Express Loan Application Process
There are two ways to apply for ACE Cash Express loans: online or in a store. Here’s how both of them work.
Online application:
- Complete an online application form. You can do this on the company’s website in just 5 minutes, provided that the loan you need is available online in your state.
- Get an instant decision. You will be notified almost immediately since there are no traditional credit checks performed.
- Sign the agreement. If approved, read the loan terms carefully to ensure they suit you. In some states, you may be asked to visit a store in person to sign the documents.
- Receive the money. The loan proceeds will be delivered instantly to your debit card if eligible or might be directly deposited into your bank account by the next business day. Depending on your state, you may also be able to pick up cash at a store on the same day.
In-store application:
- Decide on the loan type. Make sure the option you need is available in your state via the ACE store.
- Visit a branch. Use the company’s Store Locator to find a store near you. Gather all the required documents and bring them to the location.
- Complete a loan request. The company’s representatives will help you fill out the form and ensure its accuracy.
- Receive a loan decision. As ACE doesn’t perform a traditional credit check, it typically takes them just a few minutes to review your application for eligibility.
- Get the funds. If approved, review the loan agreement and sign the documents if you accept the terms. Then, you can walk out with the loan funds immediately.
ACE Cash Express Alternatives
If ACE Cash Express products can’t meet your needs, consider the following alternatives:
CashUSA. CashUSA is a company that can connect you with multiple lenders by filling out just one application form. Its partner loan providers offer financial products between $500 and $10,000. Still, the requirements typically vary by lender.
MoneyLion. MoneyLion has its Instacash tool that provides up to $500 financing per pay period without charging any mandatory interest. There are no hard credit checks performed but you need to link your checking account to your profile and show it has a history of regular income deposits. You can get the funds within 1-5 business days with no fee or receive it instantly for an express charge.
OppLoans. OppLoans is an online lender that offers loans of up to $4,000. An average APR is 179%, which is a bit lower than ACE’s rates. The repayment terms may be up to 18 months, making it easier to manage your debt. The service has no minimum credit score requirements and charges no origination fees.
Rise Credit. Rise offers online personal loans of up to $5,000 with the repayment terms between 7 and 36 months. While its loans are available with any credit, interest rates range from 59.80% and 299.00%, making their options quite expensive in the long run. Currently, RISE only operates in 28 states.
Our Verdict
ACE Cash Express can help you get up to $5,000 within a few hours to cover your urgent money needs. The company provides both online and in-store assistance, giving customers a sense of reliability and trust. You can apply for their loans in minutes, get an instant approval decision, and get the money you need on the same day. Besides loan options, the company offers financial services, such as check cashing, money transfers, prepaid debit cards, mobile banking, and ATM services.
Still, there are several considerations regarding a lawsuit against the lender, the costs of its loans, and their accessibility in some states. Former borrowers also mentioned the company’s poor customer service. It’s recommended to turn to loans like ACE Cash Express only if you can’t qualify for traditional personal loans or need money immediately.
FAQ
What Is ACE Cash Express?
ACE Cash Express is a Texas-based lending company that offers online and in-store lending services to people who need emergency assistance. The company has been in business since 1968 and has 750+ stores across the US.
Is ACE Cash Express legit?
Yes, ACE Cash Express is a legitimate company that operates under federal and state laws. It’s also a member of the Financial Services Centers of America (FISCA) and the United States Hispanic Chamber of Commerce (USHCC). Still, the lender was involved in a lawsuit due to charging illegal fees and using unlawful debt-collection tactics.
Does ACE Cash Express check credit?
ACE can obtain your credit information from alternative consumer reporting agencies, including, but not limited to, Clarity Services, FactorTrust, and LexisNexis. The inquiry may affect your overall credit profile with the applicable agency, but it will not impact your FICO score.
Is ACE Cash Express Available in all states?
While ACE Cash Express offers its services across the Nation, some products, such as online and in-store payday loans or money pick-up in a physical location, are not available in all states.
What are ACE Cash Express loan amounts?
The sums offered range from $100 to $5,000, depending on the state, the loan type, and the borrower’s income. Payday loans come with amounts between $100 and $1,500. Installment loans provide up to $2,000 financing. Title loan amounts can be up to $300, $1,000, $2,500, or $5,000.
How long does it take for ACE Cash Express to deposit money into my account?
The funding times depend on the application method and the funding option you choose. Customers who apply in a store can get their loan money immediately after approval and signing the documents. Approved borrowers who apply online can pick up cash in a store on the same day or receive the funds within 30 minutes to 4 hours via instant funding to a debit card, if eligible. Funding via a direct deposit to a bank account is also possible. This option typically takes 1 business day.
How can I repay my ACE Cash Express loan?
If you apply online, the amount you owe will be automatically withdrawn from your bank account on the due date. You can also repay the funds online via the loan payment center at www.myacepayments.com or pay over the phone 24/7 by calling (866) 728-1808. If you applied at an ACE store, visit the store where the loan originated before the due date and pay what you owe in cash. Depending on your state, you may also be able to pay online or by phone.
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