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Advance Financial

Advance Financial

 2.1/5 (89 ratings)
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

About Advance Financial

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Advance Financial provides online FLEX Loans in states across the U.S. that allow customers to withdraw funds as they need them and pay the money back at a convenient pace. It also offers installment loans in certain states and additional services, including wire transfer and bill payment.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • No collateral necessary
  • 24/7 customer service
  • Flexible terms
  • Online application and approval

Cons

  • High fees
  • Not available in all states

Bottom Line

Advance Financial offers online loan services to residents in certain states. Customer service is available 24/7, but Advance Financial loans have high fees and can be an expensive form of credit.

Top Advance Financial Reviews

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Rated with 5 stars
Verified

Me and my husband both have a flex loan from Advance Financial. They are very friendly. They don't try to hide anything. But if you're in need of money quick this is the place to ...

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Rated with 5 stars
Verified

I came into the Ft Campbell Blvd store in Clarksville, TN to get a flex loan. Ebony was great and extremely patient given the situation. She had a great attitude and made the expe...

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What is Advance Financial?

Advance Financial offers fast, online FLEX Loans to residents of 13 states. A FLEX Loan allows a borrower to withdraw anywhere from $25 to $4,000 at any time and pay it back, plus interest and fees, in conveniently scheduled payments that align with the borrower's pay dates. On their pay date, the customer must make at least a minimum payment.

To apply for a FLEX Loan, you need a photo ID and proof of income. If you are approved for a FLEX Loan, Advance Financial deposits the funds into your bank account within a day.

Advance Financial offers online FLEX Loans in Alabama, Delaware, Idaho, Kansas, Mississippi, Missouri, North Dakota, South Carolina, Tennessee, Utah, Virginia and Wisconsin. In-store services are available throughout Tennessee. Advance Financial offers installment loans in Mississippi, Texas and Wisconsin.

Advance Financial interest rates and fees

Advance Financial FLEX Loans' annual percentage rates depend on the state where the borrower lives, but they typically range from 240% to 360%.

Advance Financial aligns FLEX Loan payment due dates on your pay dates. On the payment due date, you can pay any amount from the minimum payment to the total due. Keep in mind that the amount you pay on your due date has a direct effect on the total finance charges on your loan.

Advance Financial does not charge prepayment penalties if you pay off your loan early. Visit the website to learn more about interest rates and fees in the state where you live.

Advance Financial FAQ

Does Advance Financial check credit?
Advance Financial performs a credit check when you apply for a FLEX Loan or an installment loan. You also need a government-issued photo ID and proof of income.
How does Advance Financial’s FLEX Loan work?
Advance Financial’s FLEX Loan lets you withdraw anywhere from $25 to $4,000 at any time, depending on your credit limit. You make payments on scheduled due dates, usually aligned with your pay date, that include interest and fees. As you make payments, you are allowed to continue withdrawing money up to your credit limit.
What happens if you don’t pay back Advance Financial?
If you don't pay back Advance Financial, interest continues to accrue. At some point, Advance Financial may refer your account to a collection agency.
How long does it take to get a loan from Advance Financial?
Advance Financial usually deposits loan funds into your bank account within one day, according to its website.
Is Advance Financial a payday loan?
No, a loan from Advance Financial is different from a payday loan. Advance Financial offers FLEX Loans and installment loans, which generally provide longer loan terms.
Where is Advance Financial available?
Advance Financial offers loans in Alabama, Delaware, Idaho, Kansas, Mississippi, Missouri, North Dakota, South Carolina, Tennessee, Texas, Utah, Virginia and Wisconsin.

Is Advance Financial legit?

Advance Financial is a legitimate way to get quick cash online without collateral. The company's convenient 24/7 lending services make it appealing to borrowers. However, Advance Financial's high fees and interest rates are worth noting before you sign a loan agreement.

Advance Financial Reviews

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How do I know I can trust these reviews about Advance Financial?
How do I know I can trust these reviews about Advance Financial?
  • 3,304,550 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 10
Rated with 1 star
profile pic of the author
Verified Reviewer
Original review: April 28, 2021

I filed for bankruptcy last week and yesterday this company tried to put thru a payment and of course I was charged a $20 overdraft fee. In addition I informed them over 2 weeks ago I was closing my bank account via email and they chose to try and charge my account at least 3 times and I was charged $20 a pop. The bank will not let me close the account until this deficit is paid and do not think I am responsible for because Advance Financial did what they did. Would you want to do business with this company? I think not. Their customer service is horrible and obviously they feel they do not need to listen to their customers and just do whatever they want.

4 people found this review helpful
Rated with 1 star
Verified Reviewer Verified Buyer
Original review: Nov. 4, 2020

When you go to pay on your flex loan, you can say pay on principal but when you receive receipts, you may have paid $200 but $175 goes towards interest it shows and $19 goes towards loan. It is a problem, you will never get it paid off. It's a rip off. Praying that I'll be able to pay it off soon.

11 people found this review helpful

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    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 25, 2020

    This company is the worse company I have ever borrowed money from. I was furloughed from my job. They were working with me making $50 payments every pay day. But then when I contacted them to start paying a little more toward my back payments doing a promise to pay on a current date they would proceed to take 241.06 on Aug 12 when I had agreed to pay on Aug 14th in the amount of $195.00. They put my account in the negative plus the bank charged me another $36.00 for insufficient funds.

    When I called them about it they tried to say that there was never a promise made that a back payment in full was not going to be taken out. Which I had been promised by a rep telling me that the automatic thing had been placed on hold. Then on Aug 17th they took another $224.69 payment. They are a bunch of lying crooks and cold-hearted company who do not care at all that some folks are struggling which is not caused by something that they can control. I WOULD TELL PEOPLE TO STAY AWAY FROM THIS COMPANY.

    20 people found this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: July 29, 2020

    If you want a 700% interest loan. A big rip. Rip off and horrid customer service. Pay 4x the amount you borrowed. Dont do business with this scam place. Dont say I did not warn you. I hope you go out of business.

    27 people found this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: July 18, 2020

    Stay away from this predatory lender. They should be put out of business. Imagine borrowing $1,500 because you're in a bind. Imagine an interest rate of 360% (how on earth is that legal? **). Imagine making monthly payments larger than your car payment but the balance never goes down. Imagine that after only a year and a half you end up paying almost 4 times the amount borrowed. Total amount paid to close my account... $4,498.05. If you need money, you are better off finding a loan shark. SHUT THIS SCAM OPERATION DOWN!

    40 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 7, 2020

    I wish I would have read the reviews before I took a loan out with these guys. They are absolutely terrible and cold hearted people. I ran into some financial difficulties, set up payment arrangements with them and made my payment on the day it was due like we agreed upon and 2 days later they withdrew an additional $675 that I did not even authorized.

    I told them before not to use my debit account anymore, that I wanted to revoke it and they still did it anyways. I was withdrawn in my account because of it and then found out from my bank they try to even do an additional $750 an hour later but it did not go through 'cause I did not have the funds in there. Call the company and they gave me nothing but a run around and nothing they said made any sense. Would not refund my money but I filed a complaint with my bank. I am also going to contact the Better Business Bureau. If anyone else out there has any suggestions on what else we can do please let me know.

    29 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 4, 2020

    My wife and I decided to do this because we had an issue that had to be taken care of immediately and we were short of the funds needed. We have made every payment on time. However, the last 3 months have been nothing but interest payments. The principal has not gone down one penny. And we haven't touched the line of credit in months. This is how they get you. The first few payments, there is a reduction in principle. Then, the payments get closer together but no principal is paid, It is all interest.

    If you are in a position where you can't get a bank loan, try other avenues. DO NOT use this company. We knew the interest was high, but didn't think we signed a lifetime payment plan, which is what this will be if you don't pay attention. Luckily, my wife watches every penny and every bill that has to be paid. And no, we aren't dead beats that don't pay our bills. We had a job loss and fell behind. But, we are getting back where we were. My wife has her sights on getting this paid and out of the way this month. Whatever you do, run as fast as you can away from this company.

    23 people found this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: June 10, 2020

    If you're looking for a loan to help pay off debt or just to have some extra cash PLEASE do not use Advance Financial! I'm 23 and work in retail and only make $1,700 a month. AF sent me an offer for a line of credit for $2,100 and I accepted it because I was in need of some extra money. I ended up using the whole amount and could only pay the minimum $143 once a month, and the amount grew bigger each day.

    When I was finally able to pay it off in full, I ended up paying almost $3,000! What I didn't know was only 10 maybe 20% of each payment went towards the line of credit. Also, the APR was 276%! It should be ILLEGAL for any loan company to have APRs that high! When I was reading through one of the statements, it said if I only paid the minimum amount, it would have taken me 16 years to pay it off. 16 YEARS!! That's outrageous! This company preys upon people who barely make enough money to make ends meet. I will NEVER use them again for ANYTHING. Please stay away from this company!

    35 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: April 15, 2020

    I have had two loans with this company. One I paid in full and I borrowed against it again and fell way behind. I tried to work with them, but the amount owed just keep getting higher. It went 1800 to over 4500. They turned me over to a law firm that gave me a settlement for 2200 and thirty days, in the midst of the covid-19 or I would get a warrant in debit and garnish my wages. I am nurse supporting five people and trying to make ends meet, and the law firm, they use don't care. Please stay safe and pay them they will come and get there money!!

    14 people found this review helpful
    Rated with 2 stars
    Verified Reviewer
    Original review: March 18, 2020

    I was originally approved for $4,000 and used the entire amount. When I started making the astronomical payments, I almost had a stroke and immediately borrowed from my 401k to pay off the entire amount as I could not afford to make the outrageous bi-weekly payments. I swore to never use it again, but as I thought about it, I figured I would keep it for emergencies or occasionally, I just need to borrow about 500 before payday but I knew I had to pay off the entire amount as soon as I was paid or be trapped in the mountain of added interest.

    So I started using it that way. I didn't use it every month, but I did use it maybe every other month, but made sure I paid it off by the next payday. I recently went to borrow $50 because I didn't want to go to the bank and was shocked to see they had lowered my credit line to $2,000. I realized then I am not the customer they want. They only want people who can't repay them immediately because they won't be able to charge their ripoff rates. Very disappointed. Can't win either way.

    20 people found this review helpful
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    Advance Financial Company Information

    Company Name:
    Advance Financial
    Address:
    100 Oceanside Drive
    City:
    Nashville
    State/Province:
    TN
    Postal Code:
    37204
    Website:
    www.af247.com