My Cash Time is an online payday loan provider based out of Texas and providing payday loans to individuals looking for a quick source of cash to last until their next payday. The company does not require background credit checks and advertizes same-day approval of applications to all customers meeting the requirements for a loan. MyCashTime offers loans of up to $500. Like most payday loan companies, MyCashTime is not designed to be a long-term financial option. It is optimized for those customers who live on a paycheck-to-paycheck basis and who sometimes encounter financial setbacks in between. These individuals may not have good credit or may have experienced bankruptcy, but MyCashTime loans are designed to help these individuals and are to be paid off quickly, allowing the customer to regain financial stability as quickly as he can.

MyCashTime loans are approved as quickly as possible the same day as the application was submitted and the appropriate legal forms are received. Customers can expect to see the cash deposited in their bank accounts within 24 hours, with exceptions for late afternoon and weekend applications, which are usually processed the next business day. The prerequisites for applying for a loan with MyCashTime are standard for most payday loan companies. Individuals must have an active checking account that has been open for at least three months. They must be currently employed and have held their present job for at least three months. They must have lived in their current residence for at least three months. They must demonstrate that they receive a monthly salary or deposit in their bank account of at least $1000. They must be able to fax or scan and email the required legal documents (including bank statements and pay stubs) to MyCashTime to complete the application. Finally, they must be at least 21 years old. Direct Deposit is recommended, but not required. Once an application has been submitted, MyCashTime requires that all applicants provide their most recent pay stub with their current job, and their most recent bank statement. Application requires the customer's social security number, which is also necessary to create a customer account on the company's website.

MyCashTime Ratings

3.8 Service
3.8 cost
3.4 timing
3.6 use again
Customers do not need good credit or collateral to receive the loan, as MyCashTime specializes in short-term loans of relatively small amounts of cash. First time customers can expect $200 or $300 loan limits, with repeat customers earning the ability to request up to $1000 after establishing a good business history with MyCashTime. The loan money may be used for any number of purposes, from medical to entertainment. MyCashTime requires that all loans be paid off in 14 days, as a standard due date. Extensions can be provided for customers, as long as the request is made at least two days before the due date. Customers can also choose to pay off the loan before the due date, to save on the accumulated interest rates and establish good business history with the company for future loans. MyCashTime's Annual Percentage Rate is 730%.

MyCashTime's website has a section devoted to helping customers through financial tips. Advice on this section includes information on how to budget one's finances, and suggestions on how to avoid debt. MyCashTime recommends that customers avoid the temptation to spend beyond what they are able to afford, especially through credit cards. Instead, the company recommends that individuals learn how to save money for times when it is truly needed. MyCashTime also offers a debt elimination calendar template based in Microsoft Excel, for individuals struggling with debt management. The key to this strategy, as described on the website, is to approach paying off debts in small pieces.

Customers can conduct their entire application for a loan online at MyCashTime's website at The company advertizes secure Internet transaction protocols to ensure the personal information of their customers is not jeopardized. MyCashTime will not sell the personal information of customers to third parties and will not distribute personal information unless otherwise mandated by applicable laws. As necessary, the company will investigate personal customer information in order to approve loan applications, but as a rule will not disclose non-public personal information. MyCashTime operates under the financial and loan laws of the state of Texas.

Customers can also choose to complete the application over the phone at their toll free number 1-877-533-6500. All customers must be prepared to submit bank statements and pay stubs via fax at MyCashTime's fax number (also toll free) 1-877-533-6514. Finally, customers can contact the company at the customer service email address: