My Flex Cash is a tribal lender offering bad credit installment loans to consumers. Owned by a sovereign tribal nation, this lender is one of the most expensive we’ve come across. You can borrow from $100 – $1,000, but the interest rates are between 608.33% 1564.29% APR. Our advice, if you have bad credit, is to shop around before committing to any loan from this lender.

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Pros

Offers installment loans that can be repaid over time
Application process is simple and fast
A decent option if you’ve exhausted all other resources

Cons

One of the highest interest rates – 608.33% 1564.29% APR
Not a good solution for large financial purchases
Not an option for those with average to excellent credit

Do Not Use My Flex Cash for a Loan Until You Read This

With bad credit loan scams on the rise, it’s not always easy to know who you can trust. When unexpected expenses pop up, where do you turn? If you are considering My Flex Cash for your next installment loan, be sure you read this entire review and guide. It could save you thousands of dollars, or be one of the best decisions of your life.

What is “My Flex Cash” and How Does it Work?

My Flex Cash is a bad credit lender that provides short term installment loans to borrowers. While every tribal loan has a significantly high interest rate, My Flex Cash seems to be much higher than the average of 440% APR charged by other tribal lenders.

However, if you are struggling to find a loan from a traditional lender with the best rates, this might be your only option. If so, here’s what you should know about My Flex Cash and how it works:

If you cannot get approved from any other lender, apply on the MFC website. (this should be a last resort)
The application process only takes a few minutes. Be sure to have your information handy to complete the application (Driver license #, SSN#, Address, Banking details, etc)
Once you’ve applied, you should hear back from a loan specialist within 1 hour who will give you your loan term and interest rate
If you are approved, the funds will be deposited into your account within 24 business hours
You will begin repaying the loan on your next pay date, in equal installment payments over time until you have paid the loan off.

How Much Can I Borrow from My Flex Cash?

My Flex Cash lends bad credit borrowers as little as $200, up to a maximum of $600. We like the fact that MFC doesn’t allow you to borrow over $600. The more money you borrow, the more you will pay in interest rate fees. In fact, most borrowers end up paying back 87% in interest payments over principle. You can lessen the amount of interest you pay by doing two things: 1. Borrow only what you need 2. Pay the loan back as quickly as you can.

Minimum and Maximum Loan Amounts

Minimum – $200
Maximum $600

What Are the My Flex Cash Loan Rates and Terms?

With specializing in this product, many of the details are straight forward. With My Flex Cash, you can begin by requesting a loan between $100 to $1,000. Interest rates will vary between 608.33% up to 1,564.29%, which are higher compared to others in the industry.

The reason for higher interest rates can be for riskier lending or simply to make more money as a lending business. Your final interest rate will be on the loan documents at the time of closing.

Here’s What it Might Cost You

How to Apply for a My Flex Cash Loan

Loan application minimum requirements:

Have an income of at least $1,000 per month.
Have proof of employment.
Have an open bank account.
Be reachable by phone and email.
Be at least 18 years old and a permanent U.S. resident.

Here’s how to apply for a My Flex Cash loan:

Step 1: Enter basic contact details and loan amount

On step 1, you simply need to enter the following:

First Name
Last Name
Email Address
Loan Amount

Step 2: Complete your personal information

On step 2, complete your personal details by answering the following questions:

First Name
Last Name
Email Address
Social Security #
Driver License #
Driver License State
Date of Birth

Step 3: Complete your contact information

On step 3, finalize your contact details as you see below:

Physical Address
Time at Residence
Residence Type (own or rent)
Home Phone #
Cell Phone #

Step 4: Enter your bank account details

On step 4, My Flex Cash needs to know your bank account details. This is so they can deposit your funds into your account and also withdraw your payments according to the loan terms.

Bank Name
Bank Routing #
Checking Account #
Length Account Has Been Active?

Step 5: Enter your employment and income details

On step 5, you need to enter your employment and income details.

Employer Name
Employer Zip Code
Department You Work In
Employer Work Phone #
Are You Considered Active Duty Military? (yes or no)
Length of Employment
Monthly Salary
Direct Deposit?

Once done, check if you want to receive SMS notifications from My Flex Cash.

The Advantages of My Flex Cash

As previously mentioned, My Flex Cash allows you to repay you loan early without penalty. They in fact encourage early repayment because they receive their principal investment and you save money from interest expense. Also, if you need a loan again in the future, you begin building a trustworthy business relationship with My Flex Cash.

Other information you may want to look at include the APR Disclosure page of their website. This will give you the hypothetical breakdown of a loan and fees that would be associated. This allows you to see how your loan may be structured and you can plan going forward.

My Flex Cash is a prime example of a solid website that gives you everything you need, but not too much. The only item missing would be anything related to the cancellation of your loan application. If this is of concern to you, reach out to My Flex Cash using the information on their contact page.

Overall, this company is certainly worth your time to review and see if they are a good fit. As always, it’s important to complete your own due diligence because not every loan application is the same. Also, you might find more competitive interest rates by reviewing our guide on tribal lending.

Important: Ensure you weigh all the options before committing to a tribal lender.

Have you used My Flex Cash for a short term loan? Leave your review below!