If you have some urgent bills to pay and the next paycheck is only in a week or two, applying for a 700-dollar payday loan is a real rescue. You may get $700 cash advance the same or the next business day without a guarantor or collateral. Besides, in most cases, you can avoid hard credit checks which means your credit history won’t be affected.  Bad credit is also OK. 

Table of Contents:

What are the $700 Payday loans?

$700 Payday loans laws and regulations by state 

$700 Payday loans for bad credit

How to get approved for $700 cash advance with bad credit? 

No credit check $700 Payday loans 

$700 Payday Loans online or near me?

What are the differences between In-store and Online $700 Payday Lenders?

Best $700 Payday Loans direct lenders

How much does a $700 Payday Loan cost?

$700 Payday Loans rates and fees by state

What are the $700 Payday Payday loans? 

Payday loans by definition are small-dollar short-term unsecured bad credit cash advances that can help people in case of emergencies. Small-dollar means $100 up to $1,000 sums. Though it may seem not much, at first sight, it’s often enough to solve the majority of financial problems average Americans have. One can pay medical, dental, or other bills, or make an essential purchase, or go on holiday, or celebrate a special event, etc. 

Repayment conditions make this type of loan even more attractive as they are paid off within 14 - 30 days with your next paycheck. 

The rates may seem higher than in lending options, but the total cost appears very affordable due to a short repayment term.

$700 Payday Loans for bad credit 

In most cases, direct lenders approve even borrowers with bad credit as they take into account other eligibility criteria such as income, employment, etc.

Nearly a third of Americans have a credit score lower than 601 [Experian’s 2015 VantageScore 3.0 data]. While Experian estimates 30% of Americans have poor or bad credit, plenty of people have no credit at all, which has similar disadvantages to having low scores.

Payday loans are most suitable for bad credit applicants as the lenders offering $100, $500, and $700 cash advances take into account a lot of other factors besides your score:

  • Employment
  • Income type
  • Homeownership
  • Months employed
  • Net monthly income
  • Previous credit types and debts, etc.

How to get approved for $700 cash advance with bad credit? 

  • have your FICO score at least 600,
  • try to avoid judgments, liens, and bankruptcies on your credit report,
  • find stable employment,
  • take proof of identification with a passport, driver’s license or voter’s ID,
  •  don't forget proof of residence such as a utility bill.

Read more: Bad Credit Payday Loans

No credit check $700 Payday loans 

The term, “no credit check,” means that the lending institution doesn’t check your credit score before issuing the loan. This allows individuals to borrow money when they would not normally be able to borrow due to poor credit history or low scores.

Read more: No Credit Check Payday Loans

What are the Requirements?

As $700 cash advances are not granted on the basis of your FICO score it’s just a waste of time to perform any kind of credit inquiry. Lenders simply determine your repayment ability by the following criteria:

  • US residence
  • Minimum regular income of $1,000 per month
  • Valid checking or savings account with direct deposit
  • Phone number and e-mail address (if applying online, you must be able to be contacted via phone if verification of application information is necessary)
  • Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps or Navy (or be a dependent of someone who is,) serving on active duty under a call or order that does not specify a period of 30 days or fewer.
  • If applying Online, you must provide a valid Social Security Number
  • If applying at Loan Store, you must bring a valid government-issued photo ID. A Social Security Number might not be required
  • If applying in-store, you must bring proof of income and proof of a bank checking account. Debit cards or pre-printed checks may be accepted in your state as proof of bank checking account; contact your local store for details. Acceptable documents may vary by state.
  • Besides the lenders may check for employment history, previous debts, review credit from other bureaus outside the most famous three and your income to determine your eligibility.

$700 Payday Loans online or near me?

The two main places to borrow $700 Payday Loans are Payday stores or Check Cashers near your location or Online Lenders or Brokers.

What are the differences between Online $700 Loan Lenders and Companies Near Me?

Payday stores or Check cashers

Online lenders and brokers

If you are an experienced borrower who values time and appreciates all the benefits of technological progress, apply for a Payday loan online. If you are still in doubt and have little information about cash advance and need some professional help, try front stores. On COMPACOM.com website we offer you to compare both online and in-store lenders and make the right choice.

How much does a $700 Payday loan cost?

The total cost of any loan includes the principal, the interest, and additional fees.

  • The principal equals the amount you borrowed.
  • The interest depends on the APR or MPR. Annual percentage rate or "APR" is a percentage representation of the actual yearly cost of funds over the term of a loan. The MPR or Monthly percentage rate is the cost of the loan over a month term.
  • Additional fees may include application, verification, documentation, transmission, non-sufficient funds, late payment, and other charges. 

To calculate the sum of money you’ll have to pay for $700 cash advance within a certain term, first of all, you need to know the APR. It may be limited to a certain figure by the state law, and it can vary according to the lender’s conditions. Check it out before signing an agreement. 

$700 Loan Calculator


Estimated Payment


Total Principal Paid:$ 1,000.00
Finance charge:$ 387.42
APR:471.36 %
Apply online

Payment Breakdown

Select the amount for the loan you want in order to get the principal, which is the basis that we use to calculate the interest and the total cost of the cash advance.

The number of days within that you will be ready to repay the loan. It’s used to count the total cost of cash advance by multiplying the days by the amount of interest.

To calculate the total cost of your loan, we take the minimal average APR legal in all States, which is 36%. This figure is only a representative, providing you with general information on how much the loan may cost. To find out a more accurate total, fill in the Annual Percentage Rate required by the lender you want to apply to.

It’s the money charged by the lender for doing all the necessary paper work, bank transactions, etc., connected with lending you the money.

$700 Payday loans laws and regulations by state 

Payday lending is strictly regulated by law in every state. All of them are under the authority of the Consumer Financial Protection Bureau (CFPB) 1. When you are going to apply for a short-term loan first of all check out all the rules in your state. It can limit the cash advance amounts, the repayment terms, rates and fees, and other factors. Most states allow Payday loans up to $500 (Alabama, Alaska, Colorado, Florida, Iowa, Kansas, Kentucky, Mississippi, Missouri, Nebraska, New Hampshire, North Dakota, Ohio, Oklahoma, Rhode Island, South Dakota, Tennessee, Virginia).

In the other states which restrict short-term cash advance to a lower amount it’s still possible to get $700 Installment Loans. Sometimes they are even more convenient as they offer lower rates and longer repayment terms.

$700 Payday Loans rates and fees by state

Let’s compare the minimal rates offered by the best lenders for a $700 loan:


Maximum loan amount

Maximum APR

Additional fees

NSF fee



Not limited

Not limited




Not limited

Not limited



$1,000, or25% gross monthly income


Not more than $15.50 for $100 borrowed







New Mexico

$2500, not more than 25% of monthly income


$0,50 jf every $100 verification fee



$50,000, not more than 25% of monthly income





Not specified


10% of the loan






Not stated

West Virginia


Small loan rate cap 31% per year




$1500, not exceeding 35% of your monthly income

Not stated

Not stated



Not limited


20% maximum but not more than $20



As we can see, in the states where you can legally borrow a $700 Payday loan the APR ranges from 30% to 780%. Plus you may be charged 10 - 20% additional fees and $15 - $30 NSF.

Must know!
Keeping in mind that Payday is a short-term type of cash advance, we should understand that the interest won’t reach a substantial amount in spite of a rather high APR. 

Let’s count the total cost of a $700 loan for 30 days with the representative APR of 300%.

Total cost calculating formula
The principal + (Principal * APR / 100%) / 365 days * Repayment term = Total cost of the loan

700 + (700*300/100)/365 *30 = 872, where:

  • $700 is the principle;
  • $172 is the interest of the loan for 30 days;
  • $872 is the total cost.

The overpay comprises only $172 a month, or $5,7 a day. Not such a big price to solve all the financial problems you have. 

And we can help to make this price even smaller by letting you compare the best offers and find the lender with the lowest rates.

  • Easy online application
  • Bad credit is OK
  • Instant approval
  • No credit check considered
  • Competitive rates
  • Same day financing