What is a payday loan and how does it work?

Payday loans are short-term loans designed to help you pay for immediate expenses. Unlike an installment loan, the balance of a payday loan is due in full by your next payday.

If you need fast cash¹ and you have a steady source of income, a payday loan could be an option for you. Payday loans can help you cover overdue utility bills, unexpected car repairs and other emergency expenses.

To apply for a payday loan online, all you need to do is fill out a simple online application, and sign a few forms online. This easy process only takes minutes. If you are approved, you could pick up the money in-store or have it deposited into your bank account the next business day.² On your next payday, your account will be automatically debited for the amount you owe, or you can make an online payment.

Are payday loans available in Texas? How much can I borrow?

Payday loans are available online in Texas and range from $100 - $1,500. If approved, the amount you may borrow will depend upon your income and standard underwriting criteria.¹

Can spouses have separate loans?

Yes. Each customer is treated individually, and a spouse can apply separately for a loan.

What do I need to apply for a payday loan?

General Requirements:

You do not have to be employed but you must have a steady source of recurring income payments to ensure you will be able to repay your loan.
You must reside in the state you choose for your loan application.
You must be at least 18 years old.
You must not currently be a debtor in a bankruptcy case or presently intend to voluntarily file for bankruptcy relief.
You must not be a member of the Army, Navy, Marine Corps, Air Force, or Coast Guard currently serving on active duty under a call or order that does not specify a period of 30 days or fewer, a member of the reserves (including National Guard) on active duty, or a dependent of the foregoing members.
You must provide a valid Social Security Number or Individual Taxpayer Identification Number.
You must have a checking or savings account that has been open for at least one month.
You must be able to be contacted via phone if verification of application information is necessary.

How do I apply for a loan?

All you need to do is fill out our simple application online. ACE's paperless application process is convenient, secure and simple. Our simplified application process allows you to fill out and sign your loan documents on your computer without the need to fax documentation.

Do I need to be employed? Can I be retired?

You do not need to be employed, but you need to have some sort of recurring income. You may be self-employed or receive recurring income from a source other than an employer such as retirement or disability income, but we will require you to have the ability to repay the loan. The key is to have a recurring source of income.

Do I need collateral to apply for a loan?

No collateral is necessary or accepted.

Is there any cost to apply for the loan?

No. You will not be charged to apply for a loan, whether or not you are approved.

Are there any benefits for returning customers?

Customers with good repayment history could qualify for discounts on future loans.³

How will I know if I am approved? When will I receive my funds?

You will receive a decision immediately following completion of your application. If approved by 6:00 PM Central Time on Monday – Friday for weekday applications, and by 2:00 PM Central Time on Sunday for weekend applications, you will generally receive the money the next business day.²

For verification purposes, we may need to contact you by telephone before your loan is approved. Applications received on a weekend or holiday may be verified the next business day due to bank closures.

Will I need a fax machine to apply for a loan?

No. ACE Cash Express requires no faxing of documents as a part of the loan application.

Will applying for a payday loan impact my credit?

ACE Cash Express may obtain information from a non-traditional consumer reporting agency and the inquiry may affect your overall credit profile with the applicable agency, but it will not impact your FICO® score.

What is a FICO® score?

A FICO Score, created by Fair, Isaac and Company, is a type of credit score used by some lenders to help them make credit-related decisions. FICO Scores are based solely on the information in consumer credit reports maintained by the three major credit bureaus — Experian, Equifax and TransUnion. By comparing your credit information to the patterns in hundreds of thousands of past credit reports, a FICO Score estimates your level of future credit risk.

Hard credit report inquiries to Experian, Equifax and TransUnion can negatively affect your FICO Score, especially if there are many in a short amount of time. At ACE Cash Express, we may obtain information from a non-traditional consumer reporting agency and the inquiry may affect your overall credit profile with the applicable agency, but it will not impact your FICO score.

When will the loan be due?

Your online payday loan will be due on your next payday (loan duration is state-specific). You will be informed of the due date if your loan is approved.

How can I pay my loan back?

The amount you owe will be debited from your bank account on the day your loan is due. You can also make payments online.

If I pay off my loan early, how does that affect my finance charges?

Paying early will not reduce your CSO fee. However, it may reduce the lender interest that accrues on your loan. There is no prepayment penalty.

What if I change my mind and decide to cancel the CSO contract and loan?

Every payday loan comes with a 72-hour satisfaction guarantee. So if you change your mind about your loan, just return the principal within 72 hours and pay nothing more.

To cancel a loan, please send an email to internetops@acecashexpress.com with a request to cancel your loan or call us at (866)-ACE-CASH.

You can also mail or deliver a signed and dated copy of the cancellation notice provided with your Credit Services Agreement, or other written notice, to:

ACE Cash Express
Attn: General Counsel
300 E. John Carpenter Fwy, Ste. 900
Irving, Texas 75062

You will need to include your name and loan number. Once we receive your notice, we will transfer the principal directly from your bank account. The written notice must be postmarked within 3 days of signing the contract.

Can I refinance my loan?

You may be able to refinance your loan up to four times, if you are approved for new credit services by ACE Credit Access LLC and a refinance by an independent third-party lender.

To refinance, you must return to our website and log in as a returning customer. Next, simply apply to refinance your loan. The system will not allow you to apply if you are ineligible to refinance your loan. If you are approved, we will initiate a debit from your bank account for the fees due to ACE Credit Access LLC, the CSO, and for the interest and fees you owe the lender in connection with the loan you are refinancing. You will incur a new fee due to ACE Credit Access LLC, the CSO, as well as, the principal, interest, and any fees due to the lender in connection with the refinance. You may also be eligible for a payment plan. Call us at (866) 355-6815 to discuss payment plan options.

If your due date falls on a Tuesday, Wednesday, Thursday, or Friday, you must complete your refinance application before 7:30 PM Central Time prior to your due date. If your due date falls on a Monday, you must complete your refinance application before 2:00 PM Central Time on Sunday. The cutoff times may be different in case of bank holidays.

Why choose ACE Cash Express?

We make it easy to obtain cash when you need it most. Since 1968, ACE Cash Express has opened its doors to customers looking for financial services. ACE Cash Express delivers a broad range of financial products and services including short-term consumer loans, card services, check cashing, money transfers, bill payments and money orders.

What is a Credit Services Organization (CSO) and Credit Access Business (CAB)?

In Texas, a Credit Services Organization (CSO) is a company that earns compensation by, among other things, helping consumers obtain loans from a lender. A Credit Access Business (CAB) is a type of CSO that helps people obtain payday and title loans from a lender. CSOs are not lenders and do not make loans.

In Texas, ACE Credit Access LLC is a CSO and a CAB that helps consumers obtain loans from an independent third-party lender.

Is my personal information safe?

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