Payday Loans in Texas
Payday loans are short-term loans that are meant to cover unexpected expenses like car repairs or medical bills. They are unsecured, which means they require no collateral and usually need to be repaid in about two weeks.
If you’re a Texas resident and know everything there’s to know about applying for a payday loan in Texas, including the maximum amount of a loan and the fees lenders usually charge, then go ahead and apply for a payday loan online on our website. We work with more than a few dozen direct payday loan lenders in Texas, so your chances of getting a loan with us are higher than applying to lenders directly, especially if you have bad credit.
However, if you want to know more about the payday loan laws and legislation in Texas, or whether it’s possible to get a payday loan with bad credit or no credit history at all, please continue reading.
Texas Payday Loan Laws
Payday loans are legal in Texas and the legislature is very relaxed. This results in a huge number of payday loan stores and a high number of lenders per 100,000 people.
The maximum loan amount is not established. The fees are not capped either, which results in a rather high average APR – 662%.
The minimum loan duration is 7 days and the maximum duration varies depending on the amount you request:
- For a loan of $100 or less, the lesser of:
- one month for each multiple of $10 of cash advance; OR
- six months;
- For a loan of more than $100, one month for each multiple of $20 of the cash advance. (Fin. Code Ann. §§342.251)
Also, no rollovers are allowed, which means you can’t pay just the fees on the due date and extend your loan.
What Do I Need To Get a Payday Loan in Texas?
No matter what state you reside in, Texas or elsewhere, the basic requirements are the same:
- You must be a US citizen;
- You must be 18 or older;
- You must have a regular source of income;
- You must have an active bank account;
- You must provide a valid email address and phone number
In some cases, the lender may require you to email them a recent bank statement or a paycheck stub. This happens rarely, and usually only if your income comes from sources other than employment.
Where Can I Find Texas Payday Loans From Direct Lenders?
If you’re interested in getting a payday loan from a direct lender in Texas, there are a few options:
- Consider applying via a matching service. Matching services are companies that provide a single entry point to hundreds of lenders at a time. When you apply with a matching service, they will send your application to each and every loan lender they work with, one after another until they find a lender who will grant your loan request. This way, your chances are higher compared to applying to a lender directly. At PaydaySeek, we work with 100+ direct lenders who operate in Texas. Fill in this short application form and get an instant decision.
- Below you will find a list of cities in Texas. Find your city and click the link. For every city, there’s a list of lenders that have local payday loan storefronts. So if you want to apply in person instead of online on our website, consider looking through the local payday loan lenders in your city on our website. You will definitely be able to find a few lenders nearby.
Texas Payday Loans with No Credit Check. Are They Available?
Payday loan lenders neither check your credit history with the major national credit agencies like TransUnion, Equifax, or Experian, nor do they report your loan to them.
However, when you apply for a loan, even from a provider that states that they offer no credit check payday loans in Texas, the lender will often run a soft credit check. This includes getting your credit score and some other basic information. Soft credit checks don’t show up on your credit report or deduct points from your credit score.
Even though payday lenders don’t check your credit history with the major credit agencies, more often than not, a payday lender will check your credit history with one of the few smaller credit agencies that focus on payday lending specifically. Among those credit agencies are:
- Corelogic Teletrack;
- Experian’s Clarity Services.
There are some lenders who provide no teletrack payday loans, but they will just use another credit history provider to assess your repayment ability.
If I Apply Today, When Will I Get My Money?
This works the same no matter where you’re from, Texas or elsewhere.
If you apply on a weekday before the cut-off time, which is usually around 10:30 a.m., you will get the decision instantly and if approved, you can usually expect to get your money by the end of the day. However, this will ultimately depend on the lender you’ve been matched with. In some cases, if the lender doesn’t offer same-day funding, you will get your cash the next business day.
For weekend applications, you will always get your money the next business day. Since most online lenders provide direct deposit loans only, this requires banks to be operating.
However, if it’s an emergency and you can’t wait, consider applying in person at the nearest payday loan shop. Please navigate to the list below to find the nearest payday loan storefront in your city.
Get Matched With the Best Payday Loan Lenders in Texas
If you’re in an emergency situation and looking for a payday loan in Texas, consider applying via PaydaySeek. We work with 100+ direct lenders who provide legitimate payday loans in Texas. Since we work with many lenders, your chances of getting a loan with us are higher than applying to lenders directly. This is especially true if you have bad credit.
Depending on the lender we match you with, you will either get your cash later today or the next business day. However, if you need cash fast, literally in under an hour or so, please navigate to the list of cities below and find the nearest payday loan storefront. If approved, you will get your money in cash almost instantly.