Magnum Cash Advance Reviews

Magnum Cash Advance
Magnum Cash Advance

Magnum Cash Advance Online Loan Reviews

I took a loan with Magnum. I had taken two PD loans with other companies (1 local and 1 internet). Magnum was the best experience of them all. The other internet loan resulted in my email box flooded with other loan offers. Magnum said they didn't sell your name and it was true. Also, when I missed a payment, I went online and rescheduled with no hassle. I'll use them again.

I borrowed 800 and they charged me 400. When I asked for an extension to have more time to pay the loan off they made it into a new loan and added 800 or so. I don't have the exact amounts because they have blocked me from logging on to see my history of loans. I lived in California at the time of the loans. I recently moved to Phoenix, and don't think AZ law matters since it was the State of CA where the transaction took place. Its an online no fax lender. I believe I took this loan out in Oct/Nov 2006.

The only reason why I chose Magnum Cash Advance is because they claim they don't do credit checks. Well, I have Credit Karma that alerts me every time there is a change in my credit and guess what? They do perform credit checks and it goes on your credit as a hard inquiry (bad). I didn't accept the loan after I had seen the hard inquiry from them on my credit report. PLEASE BE CAREFUL because they do perform credit checks and it's hard to get the hard inquiry off your credit.

I have been a customer of magnums for sometime. I usually take advances paying my account off early to save on the short term interest rate. I have had my share of problems with this company before , from early debits to my checking account to poor customer service. I recently had requested a cash advance from magnums with a pay off two weeks from the date that the loan had been taken out. Due to a delay in a deposit posting to my checking account magnums debit was returned. I immediately got on the phone to pay the debit just to be connected to a collection agent whom was rude and unprofessional. Magnum want to charge me a return fee of $35.00 a late fee of 29.00 and additional interest 0f $43.00.Tony who’s the collection manger would not his offer. I am now looking at a loan that I took out for 453.00 that I could have paid off for 697.00 including fees would cost me $817.00. This is a very dishonest company and license to operate in Louisiana should be taken. This should be against the law.