Only use if you have no other options -- or expect other money very soon
On the surface, this seems pretty straightforward: find out how much you're eligible for (up to $5,000), fill out the "paperwork," agree to the terms, accept the money (in as little as 30 minutes), start paying it back. Nice and easy. BUT: Be prepared to pay through the nose for what you've borrowed. REALLY pay through the nose. And CAREFULLY READ everything before you "sign" on the solid digital line. Why? Because you don't actually see how much you're going be paying or for how long until the moment before you sign -- if you're paying attention. There's a small link right above the agreement button that takes you to your terms. Skip it, and you've agreed to whatever they've offered you. Here's an experiment: Let's say you want $3,000. Click on the link, and the terms are spelled out, for your particular situation: 555 percent interest (yes, 555 -- not a typo); $650 per paycheck (if paid twice a month), and yes, that's PER PAYCHECK, which means you're really paying $1,300 per month, for 24 months. Ridiculous -- if you had the money, it would normally take you 5 paychecks to pay it off. Instead, it's two years, and probably more like $40,000 being paid back. And this is for your situation. It's likely to be different for other people. Okay. You're going this route because you have no other choice. And the process is very simple, the company appears to be straightforward and considerate, and it can be done entirely online. But these payment terms are just plain predatory. I would only do this if you: 1. Absolutely need the money right now, as in, before the clock strikes midnight -- a hospital bill, an eviction notice, an emergency flight to see a relative, etc. 2. Know that you're coming into some cash very soon -- a life insurance policy, a 401(k) withdrawal, money from a relative, etc. Otherwise, stay away. So why the two stars? Like I said, the company itself seems fine -- although there's no need to actually work with people if you don't accept the terms and simply close out the page. It might be a different story once you're a customer. But I'll give them the benefit of the doubt and give them better than a bottom score. But the horrific terms -- and the nonstop shoulder tapping once you visit the site, both by this company and at least a half-dozen more that are pretty much the same group (they all text you with "Your paperwork has been approved. Finish your application here now"). If you do click one of these, you'll discover that this lender has all of your info, and the form is already filled out exactly as you left Minto Money. It's at the same "click here to accept your money" mode. The page looks the same. The terms are identical. Obviously, we have one lender with a dozen aliases. Between this slight of hand, and the fact that each of these identities texts you half a dozen times per day, this company -- whichever one it really is, 1 star (less, actually, but that's not an option). So, really, you have a score of 1.5, which rounds up to two. Again, go this route only if desperate.