ACE Cash Express Personal Loan Review: What You Need to Know

ACE Cash Express offers short-term loans with quick approval and longer repayment terms than payday loans. You can access cash fast, but you need to understand the costs first.

The company provides payday loans, installment loans, auto title loans, and cash advances. Before you sign anything, review every detail carefully. The Consumer Financial Protection Bureau sued ACE Cash Express in 2014 for pushing borrowers into a debt cycle.

Understanding your options helps you avoid financial traps. Read the small print and calculate your total repayment amount before committing.

ACE Cash Express Company Background

ACE Cash Express operates from Irving, Texas with more than 850 locations nationwide. The company rebranded its corporate structure to Populus Financial Group Inc. in 2019. ACE Cash Express remains a core brand under this parent company.

The company provides multiple financial services beyond loans. You can cash checks, pay bills, and get prepaid debit cards at ACE locations. These services target customers who need immediate access to cash.

ACE operates approximately 979 stores across 22 states and the District of Columbia. Most borrowers have low incomes and frequently refinance or extend their loans.

Contact Information

• Address: 300 E John Carpenter Fwy Suite 900 Irving, TX 75062
• Email: CustomerService@acecashexpress.com
• Phone: (972) 550-5000

Legal Issues and Violations

ACE has violated consumer financial protection laws multiple times. The CFPB found that ACE used illegal debt-collection tactics in 2014. The company encouraged overdue borrowers to take out new loans instead of resolving existing debt.

ACE pressured borrowers who couldn’t repay their original loans to borrow again. Each new loan came with additional fees. The company made money by keeping customers in a cycle of debt.

You should know this history before borrowing from ACE. Predatory lending practices harm borrowers who already face financial challenges.

ACE Cash Express Loan Details

ACE doesn’t prominently display loan terms on its main website. You can find information through their virtual chat or by visiting the locations page. Click on any state to see available products and costs.

The company may use non-traditional credit-reporting agencies to check your credit. ACE doesn’t specify which agencies it uses. They claim applying won’t hurt your FICO score directly.

However, ACE warns that hard inquiries may impact your overall credit score. Watch out for vague language about credit checks. Unclear terms often lead to unpleasant surprises later.

Interest Rates and APR

ACE loans typically carry triple-digit annual interest rates. These short-term, single-payment loans cost significantly more than traditional bank loans. The high APRs make these loans expensive to repay.

ACE doesn’t offer loans to military personnel because its APRs exceed 36%. The Military Lending Act protects service members and their families from predatory lending. If you’re in the military, you can’t legally borrow from ACE.

Loan Types Available

• Payday loans: Short-term loans due on your next payday
• Installment loans: Longer repayment terms with multiple payments
• Auto title loans: Loans secured by your vehicle title
• Cash advances: Quick access to cash with immediate fees

Customer Reviews and Feedback

Trustpilot rates ACE Cash Express relatively high overall. Many customers report satisfaction with the speed of service. Negative reviews consistently mention high borrowing costs.

The Better Business Bureau page shows fewer total reviews. Complaints about excessive fees and aggressive collection practices appear frequently. Customers report being threatened with lawsuits over disputed debts.

Some reviewers mention daily collection calls about loans they never took out. Others complain about continued harassment after resolving their debts. Google reviews average 4.5 out of 5 stars from nearly 150 reviews.

Negative reviews often outweigh positive ones for controversial companies. People with bad experiences tend to leave reviews more often than satisfied customers. However, the volume of complaints about ACE deserves attention.

Common Complaints

• Extremely high APRs and total borrowing costs
• Aggressive debt collection tactics
• Threats of legal action on disputed debts
• Daily phone calls after loan resolution
• Hidden fees and unclear loan terms

What to Do If ACE Sues You

ACE Cash Express can sue you if you default on your loan. You’ll receive a Summons and Complaint in the mail. These documents notify you of the lawsuit and detail the claims against you.

You must respond before your state’s deadline to avoid a default judgment. Missing the deadline means ACE automatically wins the case. Our partner Solo helps you draft and file a proper legal response.

Many creditors and debt collectors will negotiate settlements. You can often resolve your debt by paying a portion of what you owe. Settlement clears the debt from your record without paying the full amount.

Responding to a lawsuit protects your rights and opens settlement options. Don’t ignore court documents from ACE Cash Express or any debt collector.

Alternatives to ACE Cash Express Loans

You have better options than high-interest payday loans. Credit unions often offer small-dollar loans with reasonable rates. Many employers provide paycheck advances without interest or fees.

Local nonprofit organizations sometimes offer emergency financial assistance. Family and friends may lend you money without the harsh terms. Our partner Kikoff helps you build credit for better borrowing options in the future.

Consider all alternatives before accepting a triple-digit APR loan. Short-term convenience creates long-term financial problems. Building better credit gives you access to affordable loans when you need them.