45CashReviews of 45cash.com

Response from 45Cash· Aug 29, 2024

Hi Ryan. Sorry we couldn't help you find a lender. Thank you for giving us an opportunity to help. We are constantly adding to our network of direct lenders and other financial service providers. Hopefully you'll give us another try in the future, but if not we still wish you the best. (We were happy to see your 3-star review, but sorry to see you changed that to 1-star. If there's something we can do to earn back your 3-star review, please let us know! We value our customers, even if we can't always help them get what they want.)

Response from 45Cash· Jul 12, 2024

Hi Ray. Thank you for sharing your concerns. We have access to a relatively large network of lenders. There was only one lender that expressed an interest in working with you, and it looks like that lender's internal policies and underwriting standards placed you in a subprime category where rates are relatively high. But please understand APR on short-term loans can be misleading. If you put $1,000 on a credit card with a 30% APR and made the minimum monthly payment (the greater of $25 or 3% of the balance), you would end up paying approximately $55/month, it would take 124 months to repay the debt, and you would pay approximately $2,549 in interest. Another interesting comparison is the APR equivalent on an overdraft fee. An overdraft fee of $35 on a $100 overdraft that is paid back in 2 weeks carries an APR of $1,690%. For loans with repayment terms of less than one year, it may be better to look at the total interest paid, versus the APR. Nevertheless, we urge all consumers to use our service as a free, no-obligation tool to make informed decisions. We respect your decision that the high interest rate you were offered is not good for you. We do not control the lenders' underwriting standards or their risk-based pricing. But we certainly understand your position.

Response from 45Cash· Jul 11, 2024

Hi Jeannette. 45cash is a legitimate company that works with a variety of financial service providers. Unfortunately, not everyone qualifies for unsecured loans. Loans are subject to lender approval. 45cash, as stated on the website multiple times, is not a direct lender. In some cases, where lenders are not willing or able to help a consumer, the consumer may be redirected to other potential offers (like a credit card offer). All offers are free to review, with no obligation, or they can be ignored. We are sorry you had a poor experience here.