Scroll Top
19th Ave New York, NY 95822, USA

How Old Do You Have To Be For A Payday Loan In The USA?


If you are short of money this month, maybe because you have incurred an unexpected cost such as a medical bill, then you may look to borrow money online so that you can get cash fast in the US.

Whether you are looking to borrow $300 or $600, payday loans could be a great option to help you survive the month until your next payday when you can repay your loan.

However, it is important to understand that there are some restrictions on who is eligible and who can apply for a payday loan in the US. One such restriction is on the age of the person applying for the payday loan.

Although you can still get a payday loan if you have bad credit, there is a minimum age at which you are eligible for a payday loan and can submit a payday loan application in the US.

This guide takes you through how old you need to be to get a payday loan, the other requirements for eligibility as well as what you should consider before applying for a payday loan.

How Old Do I Need To Be To Get A Payday Loan?

In the US, you will need to be at least 18 years of age in order to be eligible and to receive a payday loan. If you are any younger than 18 and you apply for a payday loan you will be rejected automatically.

There are some states in the US that have raised the minimum age for a payday loan higher than 18 years old and you must check with your local government or state website before you apply for a payday loan to make sure that you are eligible.

You may find that you will need to be 21 years of age in some US states and even 25 years of age elsewhere. It is always important to make sure you are old enough and eligible for a payday loan before submitting your application, whether you need to borrow $500, $1000 or even more

A rejected application could immediately harm your credit score and mean that you will find it harder to be accepted for and finance, credit and loans in the future when you are older.

Most US states require payday borrowers to be at least 18 years old, or 21 years old in some states

What Are The Requirements For A Payday Loan In The US?

It is important to understand that a minimum age is not the only requirement when it comes to payday loans in the United States. There are a few other requirements and eligibility criteria that you must make sure you follow before applying for your payday loan, whether you are applying when you are 18 or even older.

If you are interested in taking out a payday loan in the United States, you must check that you adhere to these eligibility criteria to be accepted for a payday loan before you apply. Different lenders will have slightly different criteria to lend you money and you should look at what any lender requires in order to let you borrow money, in advance of applying for any loan, online or otherwise.

You are eligible for a payday loan in the US if you are:

  • A U.S. resident
  • Over the age of 18
  • In steady employment with a stable income
  • Earn a minimum of $800 per month ($9,600 per year)
  • Possess a valid mobile phone account and number
  • Possess a checking account for the loan to be deposited (if approved)
  • Able to afford the loan repayments
  • Live in a US state that allows payday loans (such as TexasFloridaNevada and others)

What To Consider Before Getting A Payday Loan

It is important to consider a few details before deciding to get or apply for a payday loan. Some of the things you should consider are:

  • Alternatives – Have you looked at alternatives to payday loans such as borrowing from family and friends to see if that would be suitable in your financial situation; or looked at other types of loans such as secured loans?
  • How much you need to borrow – It is important to understand how much you need to borrow, as payday loans are designed to be smaller loans. Therefore, if you are looking to borrow $600 or perhaps $1000 a payday loan may be right for you, but if you need to borrow more it might be worth looking into different types of loans
  • How long you need to borrow for – If you need to borrow for longer than a few months then you should not get a payday loan, payday loans are designed to be short term loans rather than longer term solutions
  • Borrowing money for the right reasons – Make sure that you are not borrowing money in order to just spend it on luxury items and things that are not absolutely essential. A payday loan should be used to pay off essential bills and expenses so that you are not worried about your financial situation and serious consequences
  • Make sure you can repay – It is of the utmost importance that you make sure you can repay your payday loan before applying for one because there can be consequences when it comes to not repaying your payday loan on time