Best Payday Loans Online Texas 2023: Get Fast Cash Even with Bad Credit

Want to get fast cash? Here is a list of the top Payday Loans in Texas. We have given Fast Loans Group the number one spot as we found that it meets all the criteria for getting fast cash with bad credit. We have listed below other top lenders like Fast Money Source and Honest Loans, which are good if you have poor credit.

Are you looking for the most affordable and fastest payday loans in Texas? Then our ranking of the best payday loans online in Texas will bring you exactly what you need: fast money at a low interest rate. 

Even if you have bad credit, no credit history or if you have low income or are currently unemployed, our selected payday loan lenders in Texas will be happy to review your application and bring you the money you need.

Check out our ranking below so you can apply for your payday loan right now.

Ranking of the Best Payday Loans Online Texas 2023

Are you ready to apply for your payday loan? Then here you have our top 7 payday lenders in Texas, so you can get the best offer for your own needs and goals:

• Fast Loans Group: Best Payday Loans Online in Texas
• Fast Money Source: Fastest Approval and Disbursement in Texas
• Honest Loans: Lowest Payday Loan APR and Fees
• Credit Clock: Best Emergency Payday Loans in Texas
• Big Buck Loans: Best for Bad Credit
• Low Credit Finance: Best for Low Income
• Heart Paydays: Best for Limited or No Credit History

Each one of these lenders have been carefully selected by our research team after examining the entire payday loans industry in Texas. Therefore, our selected lenders will bring you the lowest APR and fees and the best repayment terms and conditions, so you can make the most out of each payday loan you get.

1. Fast Loans Group: Best Payday Loans Online in Texas

Fast Loans Group is our #1 payday lender in Texas because they offer the ideal combo in a state that is quite permissive with payday lending companies. For starters, you can get a payday loan for a competitive APR (that doesn’t abuse the fact that there aren’t limits for interest rates and fees) with fast approval and disbursement, along with a high approval rate for bad credit, no credit history, low income and unemployed customers.

Most payday lenders in Texas limit the maximum loan amount at $500-$1,000, but Fast Loans Group can lend you more than that as long as your monthly gross income supports it. For all of these reasons, this lender is your best choice when looking for a payday loan in Texas.

2. Fast Money Source: Fastest Approval and Disbursement in Texas

If your priority is to get money as soon as possible, then Fast Money Source is exactly what you need. Offering you the fastest approval and disbursement for payday loans in Texas, this company will bring you a prompt solution at a fair interest rate, low fees and with a high approval rate for bad credit and low income customers.

3. Honest Loans: Lowest Payday Loan APR and Fees

Given that there are no limits in regards to the interest and fees that payday lenders can charge, it becomes an even more important task to look for lenders with the lowest APR, and this is exactly what Honest Loans is, the payday lender with the most affordable interest rate in Texas. Along with a high approval rate for bad credit, no credit history and low income customers, it’s the ideal lender to save money.

4. Credit Clock: Best Emergency Payday Loans in Texas

If you need money outside of business hours, then Credit Clock will be your unique solution because it’s the only payday lender in Texas that works 24/7. Offering you fast approval and quick disbursement along with a fair APR, it’s the ideal payday lending solution when you need money urgently - because they can approve you even if you have bad credit.

5. Big Buck Loans: Best for Bad Credit

If you have been rejected by banks due to your low credit score, then you can forget about them because Big Buck Loans is ready to approve you for a payday loan in Texas even if you have extremely bad credit. By simply meeting minimum eligibility requirements, they will approve your application instantly and proceed to disburse the money in record time

6. Low Credit Finance: Best for Low Income

Low income or being unemployed are two reasons why banks might reject your loan application, but Low Credit Finance will be more than happy to approve you for a payday loan. Along with its high approval rate for bad credit customers, you will stand a high chance at obtaining the money you need in record time thanks to its fast approval and disbursement process.

7. Heart Paydays: Best for Limited or No Credit History

If you have a limited credit history or no credit history at all, then your best bet would be to apply for a payday loan at Heart Paydays, because it features the highest approval rate for this type of customer. Along with its competitive APR and fast approval, it’s one of the best offers you will find when applying for a payday loan in Texas.

How to Apply for an Online Payday Loan in Texas

Now that you have picked your ideal payday lender from our ranking, it’s time to apply for your payday loan in only 5 steps:

• Select a Texas payday lender from our ranking
• Visit their website
• Fill out the application form
• Send the application
• Wait for approval and receive the money in your bank account or through your preferred payment method.

Once you’ve been approved, the lender will proceed to disburse the money in just a few hours, so you can use it as you wish.

If you want to explore the eligibility requirements before applying for a payday loan, then here you have the complete list:

• You must be 18 years old or older
• You must be a US citizen or permanent resident
• You must have a verifiable source of income
• You must have a debt-to-income ratio that allows you repay the loan
• You must have an active bank account
• You must have an active phone number and email address.

As you can see, as long as you have a monthly income and debt-to-income ratio that allows you to repay the loan on time, you will stand a high chance at getting approved for the payday loan, even if you have bad credit or a limited credit history.

Benefits of Applying for a Payday Loan in Texas

Payday loans offer plenty of benefits for people who need cash urgently in Texas, and this is why we’ve decided to list all the reasons why you should apply for this type of loan today.

Easiest Way to Get Fast Money in Texas

Online payday lenders in Texas have revolutionized the way loan applications are reviewed and processed, making it possible for you to get approved instantly and receive the loan money in just a few hours thanks to their advanced software and internal systems. And given how easy it is to get approved just by meeting minimal eligibility requirements, it’s the easiest way to get fast money in Texas. 

The Answer to Bad Credit

Thousands of people in Texas have bad credit, and thus our recommended payday lenders have decided to help them out. Therefore, you can get approved for an online payday loan in Texas even if you have extremely bad credit. Be it that your credit score is classified as “Fair” or “Poor”, our recommended lenders can help you in both situations, so you can get the money you need in record time.

A Solution for Emergencies

Since our recommended online payday loan lenders in Texas don’t ask intrusive questions about why you need the money, you can use the cash for any purpose. Be it an emergency fix for your car, paying late credit card fees, unexpected travel costs or any other situation, you can rely on our recommended Texas payday loan lenders to help you out when you need it the most. We have ranked the best lenders for emergency loans here

Get Help Anywhere in Texas

Be it that you live in Houston, Austin, El Paso, Dallas, San Antonio, Fort Worth, Corpus Christi TX, Arlington or any other city in Texas, you can get fast money from our recommended payday lenders. These platforms cover the over 1,200 cities in the state of Texas, making it possible for you to get approved for a payday loan from anywhere and at any time.

How to Recognize a Good Online Payday Loan Lender in Texas

We have built this ranking based on extensive research and benchmarking of all the available payday loan lenders in Texas, so you can apply for a loan at the platforms with the lowest interest rates and fees, as well as other key benefits. Here’s how we have done it.

Regulated Texas Payday Lender

The first parade is to make sure that the Texas online payday lender is approved and licensed by the Texas Office of Consumer Credit Commissioner and the Texas Finance Code, because this will ensure that the platform in question successfully meets all the current regulations of the state, thus making it legal. 

Competitive Interest Rate and Fees

Given that there’s no restriction in regards to the APR and fees, it’s critical to make sure that the payday loan lender in Texas that we want to add to the ranking can offer you a competitive interest rate. This is exactly what we’ve done with all the available payday lenders available in the states, to only select the ones with the lowest APR and fees even for high-risk customers such as bad credit, extremely bad credit, low income or unemployed. 

High Approval Rate for All Types of Customers

Thousands of people in Texas rely on payday loans because the entry barrier is minimal, and hence it’s easy to get fast money especially when banks and traditional financial institutions won’t approve your application due to bad credit, no credit history or low income. We have listed the top 7 lenders for bad credit here. 

Fast Approval and Disbursement

Another key benefit of payday loans is how fast you can get the money when compared to traditional loans, and hence we’ve only selected the Texas payday lenders with the fastest approval and disbursement process. We have 

Regulations for Payday Loans Online in Texas 2023

It’s also important to know that there are regulations for payday loans in Texas that limit factors such as how much you can borrow, max payday loan price, max payday loan term, etc. We will explore all of them here so you can know exactly what to expect as a borrower.

Overview on the Current Payday Loan Regulations in Texas

Texas is one of the least restrictive states when it comes to payday loans, because there’s no limit on the number of payday loans you can borrow and there’s no cap for the APR. Therefore, it’s important to get an overview on all the regulations so you can know your rights as a borrower, and this table will fulfill this purpose perfectly:

As you can see, it’s even more important to focus on high-quality payday lenders only, because the current regulations are not restrictive at all, and hence it could cause you financial problems if you borrow from a lender with an excessively high APR and shadowy repayment terms and conditions.

Fortunately, our selected list of Texas payday lenders meet all the current regulations and in addition they provide you with the best conditions such as a low APR and favorable repayment terms, so you can get the possible offer that protects your rights as a borrower.

Maximum Payday Loan Amount in Texas

The actual regulation states that the maximum payday loan amount in Texas is 20% of the monthly gross income. For example, if you earn $2,500 a month, then the maximum loan amount would be $500, whereas if you earned a total of $3,500, then it’d be $700 USD. If its a $500 Loan you are looking for then check out the options here.

We’ve stated that it’s capped off at $500 because this is what the majority of the payday lenders in Texas will do, because it’s the most popular payday loan nowadays and that successfully meets the maximum payday loan amount for the majority of borrowers. 

However, if we were to state a range, then it’d be accurate to say that the maximum payday loan amount that most payday lenders in Texas will bring you is $500 to $1,000. 

Maximum Payday Loan APR in Texas

According to the statute Tex. Fin. Code Ann. §393., payday lenders in Texas do not have limitations in regards to the interest rates and fees they charge. It’s all due to the “credit access business loophole”,  which allows them to charge customers as much as they can get them to pay.

Furthermore, the same statute states the following:

“Nothing in [this section] grants authority to the finance commission or the Office of Consumer Credit Commissioner to establish a limit on the fees charged by a credit access business.”

As it’s clear to see, it allows payday lenders in Texas total freedom at the hour of charging fees and the interest rate. This inherent feature of payday loans in the state brings us both advantages and disadvantages, and we will discuss this matter in the following sub-section.

The Pros and Cons of the Tex. Fin. Code §393 for Payday Loans

At a first glance, it looks like this statute exposes customers to predatory fees and abusive practices by payday lenders in Texas, but this is not accurate at all. As long as you pick a reputable and trustworthy lender like the ones we share in our ranking, you won’t have to deal with excessively high fees and APRs.

Allowing payday lenders to charge the APR and fees they want allows them to offer a high approval rate for “high risk” customers such as those with extremely bad credit, no credit history or low income - bringing all people in Texas a chance to get the money they need without obstacles. This same statute makes payday loans more inclusive, bringing people of all backgrounds a way to solve any sort of emergency.

In order to maximize the pros and minimize the cons, we’ve compared all the online payday lenders in Texas in order to pick the ones that charge the lowest interest rates and fees for all types of customers regardless of their creditworthiness.

Maximum Payday Loan Term

The maximum payday loan term in Texas sits at 180 days whereas the minimum loan term has been set at 7 days, bringing you plenty of available payday loans for different types of needs. For example, if you just need to pay a pending bill and your paycheck will arrive next week, then you can opt for a 1 week payday loan. And if you want to repay it over several months so you can administer your debt better, then you can opt for a 6 months payday loan. 

Maximum Number of Payday Loans in Texas

Currently, you can request as many payday loans as you want, but it will be up to the lender to approve your application. We recommend you to repay a payday loan in full before applying for a new one, because having multiple active loans will make it much harder for you to administer your debt responsibly.

How to Spot a Bad Payday Lender in Texas

It’s also important to learn how to identify a bad payday lender in Texas so you can avoid paying predatory fees that could put your financial stability at risk. Here’s what you need to know.

Avoid Lenders That Don’t Disclose Interest Rates and Fees

All of our lenders will let you know beforehand the maximum APR they can charge you based on the amount you want to borrow and the loan term you want to choose. If a lender doesn’t let you know the interest rate and fees that you could end up paying, then you should discard it immediately because you could fall victim to predatory fees that could ruin your finances.

Bad Online Reputation due to Unethical Practices

You should also search for the lender name on Google in order to find reviews and comments about it. If you see an alarming number of negative reviews that denounce unethical practices such as excessive interest rates, aggressive collection efforts, and unauthorized bank account withdrawals, then you should run away from it.

Fails to Provide Clear Written Agreements

A reputable and trustworthy payday lender will always bring you a clear and concise written agreement that allows you to understand the total cost of the payday loan, the terms and conditions, your rights and duties as the borrower and other important details.

F.A.Q

If you want to explore even more about our recommended payday loan lenders in Texas, then here you will find the answers to the most frequently asked questions about them.

Can you get a payday loan online in San Antonio TX?

Yes, you can get a payday loan online in San Antonio, Texas. Because payday loans are legal in all the 1,200+ cities of the state. However, you need to remember that the same state level regulations will apply to you when getting a payday loan, such as borrowing a maximum of $500 at a time and a maximum loan term of 180 days.

Can you apply for a payday loan online in Houston Texas?

Yes, you can apply for a payday loan online in Houston, because payday loans are legal in Texas. In fact, according to our research, the majority of online payday loan applications in Texas come from Houston, given that it's the city with the highest population.

Can you get approved for a payday loan if you apply from Dallas?

Yes, payday loans are 100% legal in Dallas, be it offline or online. Since our recommended payday lenders meet all the current regulations for payday loans in Texas, you can rest assured that your rights as a borrower will be respected and protected.

Are payday loans available in Austin TX?

Yes, payday loans online are available in Austin, Texas because our recommended payday lenders cover this city. They receive hundreds of payday loan applications from Austin, because people in this city value how versatile and easy-to-get payday loans are, which make them ideal for a wide variety of emergencies and unexpected expenses. 

Are payday loans in Texas approved and disbursed immediately?

Yes, our recommended Texas payday lenders can approve and disburse your loan immediately once you become a regular client. If you’re a new borrower, then you can get approved immediately but the disbursement can take up to 24 hours.

Can you get approved for a payday loan in Texas with bad credit?

Yes, our recommended payday lenders in Texas can approve your application even if you have extremely bad credit. Moreover, since the average credit score in Texas is 680 points, it means that a bigger percentage of people fall in the category of “bad credit”, and hence, our recommended platforms have resorted to other factors at the hour of reviewing your creditworthiness. 

How much can you borrow with a payday loan in Texas?

Under the current regulations in Texas, you can borrow a maximum of $500 USD at a time. This is why $500 payday loans are quite popular in the state, and given how easy it is to get approved for it, it’s an excellent solution for emergencies and unexpected expenses.