Get $100 - $1,000 bad credit payday loans on the same day without either collateral or guarantor. Mostly no hard credit check payday loans are offered by online direct lenders. $200 cash advance can be legally borrowed in most states. Due to the small amount lending is not so risky, that's why the lenders approve most applications. Compare their offers online on COMPACOM.com or find the nearest stores in your location.
Contents:
How to get $200 Payday loan Online or in a Store near you
Can you get approved for a $200 loan with bad credit and not to affect your credit score?
How much a 200-dollar loan costs. Compare rates and fees
Who usually takes $200 Payday loans and why
How to get a $200 Payday loan Online or in a store near you?
- choose which way you prefer
- surf for a lender online or drive to the nearest Payday store in your location
- fill out a simple application form
- get approved
- get the money into your bank account within 24 hours.
In 2014 the total number of Payday lenders counted 29,044 1 . And the quantity is constantly growing. No wonder it’s difficult for the customer to make a choice in favor of this or that company. All of them differ by loan amounts, terms, rates and fees, repayment conditions, and collecting practices. To find the proper one you are either to surf the Internet for hours and read carefully about each lender, make notes and compare the criteria or click a mouse and go to the COMPACOM.com website to find the best Payday Loans direct lenders with all the necessary parameters ollie fast and easy. Besides, check out for the nearest Payday or Check cashing stores offering short-term loans in your location.
There are many lenders offering $200 cash advances online. This small amount is even easier to get in comparison with $1,000 for example. It’s less risky for the lender and you can get approved easier even if you have bad credit.
Eligibility criteria are simple:
- You must be at least 18 years old (varies by state).
- You are to be employed, usually full-time. But some lenders may qualify you even with casual and part-time employment.
- You need some sort of income to be eligible for a loan. A proof of it is required.
- You need to possess a valid bank account and e-mail address.
- You shouldn’t be in military service.
- You can still be eligible for a loan if you have poor or bad credit, or bankruptcy.
The application is fast and easy:
Submit your personal information such as work, income, and bank details
- State the amount you need - $200
- Wait for some minutes up to an hour to get approved
- Get the money deposited into your bank account within 24 hours.
Can you get approved for a $200 loan with bad credit and NO credit check?
Definitely ‘YES! You can take out a bad credit $200 cash advance, maximum $255 Payday Loans in California, and in some cases even avoid hard credit check”
Case study:
“Lenders today seem to compete by offering higher loan amounts to attract borrowers. But in my case, and maybe in many others, I just need to borrow a small loan like a couple of hundred bucks. Do storefront lenders entertain a 200 dollar payday loan?” – Jake, San Diego, CA
A direct lender often offers the amounts which actually start with $200. It’s necessary to admit that a 200 dollar payday loan is not attractive to the company as they can’t make a lot of profit of it. But you still have a lot of lenders out there that will gladly give you an approval for a 200 dollar payday loan, and you may not like the reason. A $200 loan can easily balloon to $1,000 if you don’t pay it off on time or keep taking rollovers and extensions. The best advice here is to take a $200 loan and pay it on time2.
Payday loans by definition are small-dollar cash advances, which usually range from $100 to $1,000. And most states as well as lenders put a limit only on the maximum amount one can borrow.
How much does a 200-dollar loan cost?
The total cost of a loan usually includes the principal amount, the interest, and additional fees. In case you default it there will be some penalty charges. Let’s see how much $200 cash advance will cost you if you borrow for 30 days at the average representative APR of 300%.
200 + (200*300/100)/365 *30 = 249.
Where
- $200 is the principle;
- $49 is the interest of the loan for 30 days;
- $249 is the total cost.
The overpay comprises only $49 a month plus an approximately $10 fee. It is less than $2 a day. Not such a big price to solve all the financial problems you have. To find the cheapest loan with the lowest rates use our comparing service.
Estimated Payment
$1,264.14
Total Principal Paid: | $ 1,000.00 |
---|---|
Finance charge: | $ 387.42 |
APR: | 471.36 % |
Payment Breakdown
Select the amount for the loan you want in order to get the principal, which is the basis that we use to calculate the interest and the total cost of the cash advance.
The number of days within that you will be ready to repay the loan. It’s used to count the total cost of cash advance by multiplying the days by the amount of interest.
To calculate the total cost of your loan, we take the minimal average APR legal in all States, which is 36%. This figure is only a representative, providing you with general information on how much the loan may cost. To find out a more accurate total, fill in the Annual Percentage Rate required by the lender you want to apply to.
It’s the money charged by the lender for doing all the necessary paper work, bank transactions, etc., connected with lending you the money.
Who usually takes $200 Payday loans and why?
The number of Payday lenders in each state to a large extend depends on the income per capita. You can make certain of this comparing the following figures3 :
State |
Legal status |
Number of payday lenders |
Average household monthly income |
Alabama |
Legal |
997 |
$23,606 |
Alaska |
Legal |
25 |
$33,062 |
Arizona |
Prohibit |
0 |
$25,715 |
Arkansas |
Prohibit |
0 |
$22,883 |
California |
Legal |
2033 |
$30,441 |
Colorado |
Legal |
256 |
$32,357 |
Connecticut |
Legal |
0 |
$39,373 |
Delaware |
Legal |
347 |
$30,488 |
District of Columbia |
Prohibit |
0 |
$45,877 |
Florida |
Legal |
149 |
$26,582 |
Georgia |
Prohibit |
0 |
$25,615 |
Hawaii |
Legal |
N/A |
$29,736 |
Idaho |
Legal |
51 |
$23,938 |
Illinois |
Legal |
503 |
$30,417 |
Indiana |
Legal |
41 |
$25,140 |
Iowa |
Legal |
195 |
$28,361 |
Kansas |
Legal |
335 |
$27,870 |
Kentucky |
Legal |
550 |
$23,684 |
Louisiana |
Legal |
403 |
$24,800 |
Maine |
Legal |
11 |
$27,978 |
Maryland |
Prohibit |
0 |
$36,338 |
Massachusetts |
Prohibit |
0 |
$36,593 |
Michigan |
Legal |
617 |
$26,613 |
Minnesota |
Legal |
81 |
$32,638 |
Mississippi |
Legal |
1013 |
$21,036 |
Missouri |
Legal |
865 |
$26,126 |
Montana |
Legal |
0 |
$25,989 |
Nebraska |
Legal |
101 |
$27,446 |
Nevada |
Legal |
91 |
$25,773 |
New Hampshire |
Legal |
0 |
$34,691 |
New Jersey |
Prohibit |
0 |
$37,288 |
New Mexico |
Legal |
148 |
$23,683 |
New York |
Prohibit |
0 |
$33,095 |
North Carolina |
Prohibit |
0 |
$25,774 |
North Dakota |
Legal |
47 |
$33,071 |
Ohio |
Legal |
737 |
$26,937 |
Oklahoma |
Legal |
338 |
$25,229 |
Oregon |
Legal |
66 |
$27,646 |
Pennsylvania |
Legal |
N/A |
$29,220 |
Rhode Island |
Legal |
52 |
$11,241 |
South Carolina |
Legal |
311 |
$30,830 |
South Dakota |
Legal |
408 |
$24,596 |
Tennessee |
Legal |
1283 |
$26,959 |
Texas |
Legal |
3889 |
$24,922 |
Utah |
Legal |
81 |
$27,125 |
Vermont |
Prohibit |
0 |
$28,889 |
Virginia |
Legal |
225 |
$24,877 |
Washington |
Legal |
153 |
$29,178 |
West Virginia |
Prohibit |
0 |
$34,052 |
Wisconsin |
Legal |
330 |
$31,841 |
Wyoming |
Legal |
82 |
$22,714 |
As we can see the number of places you can get a $200 loan varies from hundreds to thousands. The statistics show that the less the income is, the more there are companies offering short-term loans. And their number is multiplied by online lenders. How come you don’t get confused by such a variety?! COMPACOM.com suggests only verified partners with the lowest rates and gives useful advice “How to choose a reliable lender”.
Can one live in the USA on $200 a week?
Most people say that if you are single and all your bills have already been paid, you must be able to live quite well on $200 a week. The largest expenses usually are:
- Food, especially dining out and drinking
- Entertainment (cable TV, Internet, cell phone, etc.)
- Groceries
- Clothes
How can I save money?
- Eat home-made food,
- don’t buy coffee and other take-away,
- grow some vegetables in your garden,
- make lists before going shopping,
- use free kind of entertainment,
- try to make some extra money by walking dogs, cutting the lawn, etc.
You’ve followed all the above-mentioned rules and still lack money? The next paycheck is only in a week? Take advantage of Payday loan benefits. Apply now or compare companies online.
Compare other Payday Loan amounts
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