Quik Cash (QC Holdings) has 550-plus locations nationwide
(Currently not buying payday loan leads of ours)If you’ve ever considered using Quik Cash (See www.myquikcash.com) for payday loans or installment loans, it pays to know about the business before you give them your business. Also known as QC Holdings (www.qcholdings.com/default.aspx), Quik Cash offers payday loans, installment loans, check cashing, wire transfers, bill payments, prepaid debit cards and auto equity loans. They opened their doors in 1984 as a rent-to-own company near Kansas City, Missouri and now operate over 550 multi-service storefront locations across America. They employ over 2,000 people and are traded on the NASDAQ under “QCCO.”
It’s easy to apply
Payday loans ranging from $100 to $500 are available to Quik Cash customers. Application is quick and easy; basic contact, banking and employment info is all that’s required, and in-store application only takes a few minutes. Upon approval, the standard post-dated check is written to QC Holdings.
Quik Cash customers represent mainstream America
Contrary to what uninformed critics of the payday loans industry believe, the average customer at companies like Quik Cash is not stricken by poverty. On the contrary, the average Quik Cash customer earns $25,000 to $50,000 per year, has a family and is happy with their payday loans experience. When they apply for a payday loan, they are typically trying to avoid more expensive alternatives like bounced checks and other late fees. The average of $15 per $100 loaned is a small price to pay in the short run. Here are some examples of darker alternatives:
- $100 bounced check w/$48 NSF = 1,251 percent APR
- $100 credit card balance with $26 late fee = 678 percent APR
- $100 utility bill with $50 late fee = 1,304 percent APR
Quik Cash and payday loans organizations are regulated
For those who may thing that going to a payday lender is like prospecting in the Wild West, rest easy. There are numerous federal regulations in place to protect consumers, and companies like Quik Cash and Personal Money Market follow them to the letter. The Truth In Lending Act, Fair Credit Reporting Act, Fair Debt Collections Practices Act, Graham-Leach-Bliley Act, Equal Credit Opportunity Act, Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets Control all apply.
R.I.S.E. above the hype
Quik Cash/QC Holdings is committed to providing excellent service to its customers, and part of this drive is an acronym they include in their mission statement – R.I.S.E.
- Respect
- Integrity
- Service
- Excellence
Treating all customers as they would like to be treated has served Quik Cash well. Personal Money Market strives to do the same for each and every consumer who applies for payday loans.
