COST DISCLOSURE GUIDE
Rates, Fees and APR Information
CashAdvances2023 is a referral service, not a lender. We do not determine the APR, finance charge, origination fee, late fee, payment schedule, or any other term of a provider’s offer. Submitting a request is free, but any credit product offered by a participating provider may have costs.
What APR means
The annual percentage rate (APR) expresses the cost of credit as a yearly rate and can help compare products with different fees and repayment periods. APR is not the same as the dollar finance charge or the amount of one payment. Review both the APR and the total amount you would repay.
Costs a provider may disclose
- Finance charge: the dollar cost of credit.
- Origination or administrative fee: a fee that may be deducted from proceeds or included in the amount financed.
- Late or returned-payment fee: a possible charge if a payment is late or rejected.
- Renewal or rollover cost: where permitted, extending short-term credit can add cost without reducing principal.
Not every product includes these fees. The provider’s written disclosures and agreement control.
No advertised universal rate
We do not publish a universal APR range because we cannot verify which provider, product, state rule, or applicant terms may apply. Do not rely on examples from unrelated websites or apps. Any offer should state the APR, finance charge, amount financed, payment schedule, and total of payments before you agree.
Short-term credit can be expensive
The Consumer Financial Protection Bureau explains that payday loan charges can produce very high annualized rates, especially for short repayment periods. The CFPB gives an example in which a $15 charge per $100 for a two-week loan equates to an APR of almost 400%. This government example is educational and is not a rate offered or promised by CashAdvances2023.
Questions to ask before accepting
- What is the APR and total finance charge?
- How much money will I actually receive?
- What is the total amount of all payments?
- When is each payment due?
- Can the provider debit my account, and how can authorization be revoked?
- What happens after a late or returned payment?
- Is renewal or refinancing allowed, and what would it cost?
See the CFPB’s information on payday loan costs and fees.
