Smart Advances Reviews: Is Smart Advances Legit?

Smart Advances Reviews

Are you in need of some quick cash before your upcoming pay period? ? Have you ever considered the option of taking out a payday loan from Smart Advances? Payday loans can be a convenient solution when you find yourself in a financial bind, but it is crucial to fully comprehend how they operate before committing.

In this comprehensive review of Smart Advances, we will delve into every aspect of this payday loan company. We will thoroughly examine interest rates, fees, eligibility requirements, the application process, and most importantly, the experiences shared by their valued customers. So, let’s embark on this informative journey together!

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An Overview of Smart Advances Payday Loans

Smart Advances offers payday loans ranging from $100 to $20,000, depending on the state in which you reside. These loans provide quick access to cash, with funds often available as soon as the next business day. Repayment is expected on your next pay date.

Here are some important details to consider about Smart Advances payday loans:

Loan amounts:

The amount you can borrow is determined by your state’s regulations, ranging from $100 to $20,000.

Loan term:

Typically, payday loans through Smart Advances have a term of 7 to 31 days. The loan is due on your next pay date.

Interest rates:

Interest rates vary by state, generally falling between $10 to $30 per $100 borrowed. For individuals with good credit, the APR typically ranges from 5.99% to 35.99%, with a repayment term of 2 months to 2 years.

Origination fee:

Smart Advances charges an origination fee, typically amounting to $10 to $30 per $100 borrowed. This fee is deducted from your loan amount.

Extension fees:

In the event that you are unable to repay the loan on time, Smart Advances may offer extensions for an additional fee. This allows you to extend the due date of your loan for an additional 7 to 14 days.


To qualify for a Smart Advances payday loan, you must be a U.S. citizen or permanent resident, at least 18 years old (in most states), possess an active checking account, and have a regular source of income.

By providing these key details, Smart Advances aims to assist individuals in need of immediate financial support.

The Pros and Cons of Smart Advances Payday Loans

Let’s examine the key advantages and disadvantages of utilizing Smart Advances for a payday loan:


1. Swift approvals and funding.

2. Welcoming to all credit types.

3. Convenient access to cash.

4. Simple online or in-store application process.

5. Flexible extended payment plans are accessible.


1. Exorbitantly high interest rates.

2. Can pose difficulties in timely repayment.

3. Fees can accumulate rapidly.

4. Not available in all U.S. states.

5. Non-repayment can have a negative impact on your credit.

What Do You Need to Qualify for a Smart Advances Payday Loan?

Smart Advances has minimal eligibility requirements for individuals seeking to qualify for one of their payday loans. These requirements include:

1. U.S. Citizenship/Permanent Residency: Applicants must be either a citizen or a permanent resident of the United States.

2. Minimum Age: The minimum age requirement is 18 years old in most states. However, in Alabama and Nebraska, applicants must be at least 19 years old, and in Mississippi, the minimum age is 21.

3. Regular Income: Applicants must have a consistent source of income, whether it be from employment, government benefits, retirement, or other means. The minimum required income varies depending on the specific circumstances.

4. Active Checking Account: It is necessary to possess a valid and open checking account that has been active for at least one month.

5. Valid Contact Information: Applicants must provide a functioning email address and phone number for communication purposes.

6. ID Verification: A valid government-issued photo ID must be presented as part of the application process.

7. Not Active Duty Military: Active duty service members are ineligible for Smart Advances payday loans.

8. No Outstanding Payday Loans: Applicants must not have any outstanding payday loans with Smart Advances or any other loan providers.

If you meet these requirements, there is a high likelihood that you will qualify for a Smart Advances payday loan, provided it is available in your state.

How Does the Smart Advances Payday Loan Application Process Work?

Is Smart Advances Legit

To apply for a payday loan through Smart Advances, follow these straightforward steps:

Access the application

Begin the process by either visiting the Smart Advances website or heading to one of their physical store locations.

Provide necessary information

Complete the application form by entering your personal details such as name, address, contact information, social security number, as well as your income source and employer information.

Electronically sign the loan agreement

If your application is approved, you will be required to electronically sign the loan agreement, which clearly outlines the repayment terms.

Verification process

Smart Advances will verify the accuracy of the information you provided by cross-checking your bank account details and reaching out to your personal references.

Approval and fund disbursement

Once your application is approved, you can expect to receive the loan funds as early as the next business day. The funds can be deposited directly into your bank account, loaded onto a prepaid card, or received in cash at one of their store locations.

By applying online, the entire process, from submitting your application to receiving the funds, can be completed in as little as one business day. In contrast, in-store applications are typically funded instantly

What Fees and Interest Rates Does Smart Advances Charge?

Smart Advances, like many other payday lenders, imposes exorbitant fees and interest rates. Let’s delve into the breakdown of these typical costs:

Interest rates – Depending on your state, you will be required to pay between $10 and $30 for every $100 borrowed. The Annual Percentage Rate (APR) can range from 5.99% to 35.99%.

Origination fees – A fee of $10 to $30 per $100 borrowed is levied and deducted from the loan amount.

NSF fees – In the event that your scheduled payment fails to go through, you may incur a non-sufficient funds (NSF) fee of approximately $15 to $30.

Late fees – Should you miss the repayment deadline, anticipate a late payment fee of around $15 to $30.

Extension fees – If you choose to extend your loan for an additional 7 to 14 days, you will typically be charged a fee ranging from $10 to $30.

It is crucial to thoroughly comprehend the complete costs associated with a payday loan before proceeding. Failure to repay on time or extending the loan can result in a significant accumulation of fees.

Repaying Your Loan

When you borrow a payday loan from Smart Advances, it is important to note that the full amount, along with any applicable fees, must be repaid on your next pay date. To ensure timely repayment, Smart Advances will automatically withdraw the repayment amount from your bank account on the due date.

In the event that you are unable to repay the loan on time, Smart Advances does offer extensions for an additional fee. To avail this option, you must apply and pay the extension fee before your current due date, which typically allows you to push back the repayment period by 7 to 14 days.

Smart Advances understands that some borrowers may face difficulties in repaying their loans. Therefore, they are willing to work with you to find alternate repayment options. It is advisable to contact them before your loan becomes delinquent to discuss possible solutions.

However, it is crucial to note that failing to repay your payday loan can have serious consequences. This includes incurring additional late fees, receiving collection calls, and potentially damaging your credit score. To avoid these extra costs, it is always recommended to repay your payday loans on time.

By choosing Smart Advances for your payday loan needs, you can benefit from their flexibility, willingness to assist struggling borrowers, and their commitment to helping you avoid unnecessary financial burdens.

What Do Customers Have to Say About this loan?

Smart Advances receives an average rating of approximately 2 out of 5 stars on review platforms such as Trustpilot. Let’s delve into the common compliments and complaints expressed by customers in their reviews:


  • Streamlined and effortless application process.
  • Prompt approval decisions and swift fund disbursement.
  • Flexibility to request extensions if contacted before the due date.
  • Friendly and helpful customer service representatives.


  • The presence of high-interest rates and fees.
  • Challenging to meet the short repayment terms.
  • Customers often find themselves trapped in cycles of debt.
  • Follow-up calls from collections can be overly assertive.
  • The company’s BBB rating is adversely affected by customer complaints.

Smart Advances garners mixed feedback from its customers, with some appreciating the convenience and efficiency of their services, while others express concerns about the financial burden imposed by the high-interest rates and fees. Meeting the short repayment terms can also prove to be a challenge for many borrowers, leading to a cycle of debt that is all too common. It is worth noting that some customers have reported receiving aggressive follow-up calls from collections. Consequently, the company’s BBB rating has suffered due to customer complaints.

By addressing these concerns and striving to improve their services, Smart Advances can enhance customer satisfaction and establish a more favorable reputation in the industry.


Smart Advances Reviews from Real Customers

How long does it take to get approved for Smart Advances payday loans?

If you apply online, the approval process for Smart Advances loans is quick, taking only a few minutes. Once approved, you can expect to have the loan funds deposited into your bank account as early as the next business day. Alternatively, if you choose to apply in-store at one of the Smart Advances locations, your application will typically be approved instantly.

What happens if I miss my payment due date?

It is important to note that failing to make your Smart Advances payment on time will result in immediate late fees ranging from $15 to $30. The company will continue to attempt to withdraw the repayment amount and fees from your bank account, which may lead to additional NSF fees from both Smart Advances and your bank. Moreover, missed payments can negatively impact your credit score and may result in collection calls and potential legal action.

What is the maximum payday loan amount I can receive from Smart Advances?

The maximum payday loan amount offered by Smart Advances varies depending on the regulations in your specific state, ranging from $100 to $20,000. To determine the loan amounts available in your location, you can visit the Smart Advances website.

Can I get more than one payday loan from Smart Advances at a time?

It is important to understand that you cannot have multiple loans with Smart Advances simultaneously. You can only apply for a new loan once you have fully repaid any existing loans you have with them. Having multiple outstanding payday loans at once can make repayment even more challenging.

The Bottom Line Smart Advances Reviews: Is it a Good Choice?

While Smart Advances provides a convenient option for obtaining cash quickly during emergencies or unexpected expenses between paychecks, it is crucial to be aware of the high costs involved and have a solid plan in place to make the repayment on time and avoid fees. Improper use of payday loans can lead to long-term financial difficulties.

Before considering a payday loan, it is advisable to explore all available options, such as borrowing from friends or family, utilizing credit cards, or applying for a personal loan from your bank if you meet the requirements. However, if a payday loan is your only viable solution for an immediate need, Smart Advances offers terms that are relatively reasonable compared to other payday lenders. Nevertheless, it is essential to exercise caution and avoid taking on more debt

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