Updated for August, 2025
What is Cashback Loans?
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Cashback Loans is a lending company based in southern California that offers small payday loans under $300. In general, we found that their application process was fast and they do not require a credit check. The downside? Their payday loans carry very high fees.
Is Cashback Loans legit?
Yes. Cashback Loans is a legitimate company based in California. The company opened in 2003 and has over 29 locations.
There are currently no reviews (or complaints) listed for the company on the Better Business Bureau website. This isn’t necessarily a bad thing, but it does mean there are limited resources online to gauge customer experience with the company.
Pros and Cons of Cashback Loans
At a glance, Cashback Loans has some upsides and downsides. In general, we found they offer a fast and easy application process without a credit check which may be enticing to borrowers who need money quickly. However, they are only available in the state of California and are incredibly expensive compared to other types of loans.
Pros
- No credit check
- Same day cash
- Online application process
- Transparent with fees for payday loans
Cons
- High APR (making it an expensive choice)
- Only available in California
What does Cashback Loans offer?
Cashback offers payday loans for $150,$200,$250, and $300. They also offer title loans and signature loans. The company offers loans entirely online meaning you may never need to walk into a physical location to get cash. You can apply online and potentially get your money the same day.
Here’s what they offer at a glance:
- Maximum loan amount: $300
- Minimum loan amount: $150
- Term : 1-31 days
- 14 Day APR = 460.16%
How much will a loan through Cashback cost?
APR through Cashback Loans will vary depending on individual loan length. However, generally speaking, payday loans carry very expensive interest in relation to the amount of money you get to borrow.
For example, on the Cashback Loans website, they offer an example of a $300 loan with a 30-day loan term. The finance charge for this (cost of loan) will be $45.00, which means the APR is a staggering 460%.
In other words, you may get $300 cash on the spot. But in only 30 days, you’ll need to repay $345 dollars
Am I eligible for a loan?
In order to apply for a payday loan through Cashback Loans, you’ll need to meet the following requirements:
- You are a resident of California
- A regular source of income
- A government-issued ID
- Open and active bank account
- You are at least 18 years old
If you want to apply for an auto title loan, you’ll also need
- A valid driver’s license
- A lien-free title
- Proof of insurance
Do they require a credit check?
No. As long as you can prove you have income and meet all the other application requirements, they will not check your credit.
Why are Payday loans risky?
APR (which means annual percentage rate) for payday loans usually ranges from 300%-500%. Compare that to the 15%-30% APR on credit cards or the 10%-25% rate for a personal loan from a bank or credit union. What this really means is that in the long run, it will end up costing borrowers a lot of money to borrow a small amount.
Borrowing costs can soar astronomically in a short amount of time. Cash-strapped borrowers will often return to the lender saying that they don’t have the money to repay the loan which increases the fees and can trap the borrower in debt. Think about it like ‘financial quicksand.’
Bottom Line
If you are considering a payday loan, Cashback Loans seems like a fair choice. The website offers plentiful information on how the process will work and they are transparent about their fees. Just remember, a payday loan is often a very risky type of loan that will cost a lot in the long run.
