1 Hour Direct Review
Lender Rating: A
Fee Per $100: $11.25*
Loan Period: 90 days*
Pros: Loans provided to people with bad credit or no credit, 90 second approval process and funds deposited as quickly as 1 hour.
Cons: No live chat support, slow email response to support requests, funds can take longer than 1 hour to get to you.
How Does 1 Hour Direct Compare To Other Lenders?
We ranked 1 Hour Direct #2 this year for providing us with the 2nd best loan rate and repayment terms and for having a great lender rating. Wondering who came out #1 on our 10 Best Payday Loan Lenders List? Click on over and find out.
Full Review of 1 Hour Direct
1 Hour Direct grabs your attention with the promise of getting approval for a small personal loan within minutes. With a large network of lending partners, 1 Hour Direct is able to ensure your funds get deposited directly into your bank account quickly. Often, but not always, within an hour. The website has a clean, easy to follow layout that draws you in by making it obvious how getting a loan works. The color scheme is vibrant and suggests speed. Like many sites which deal with personal loans, 1 Hour Direct peppers their pages with legalese fine print; this information is fortunately still legible, despite the smaller font size used.
1 Hour Direct Features & Benefits
- Short application process (3 sections on one page)
- Only takes 7 minutes to complete your application
- Loan approval in as little as 90 seconds
- Secured with 256-bit encryption via GeoTrust Security Technology
- No credit check required
- They approve borrows with both bad credit and no credit
- Rapid bank transfers (usually within 1 hour)
- Phone applications and support available
1 Hour Direct Application Process
1 Hour Direct offers two different methods for loan applications. The first (which is also their most recommended method) is the online application. The second is a telephone application, which takes much longer than 7 minutes to complete. Obviously, the online application process can be started at any time (24 hours a day), while phone contact (both for applications as well as customer support) is only available from 7 AM to 7 PM Eastern Time 7 days a week.
The online form asks you general questions about yourself and are vital to your loan approval. They want to know if you have a bank account, if you are in the military, and what your desired minimum loan amount is. These questions are followed by all the standard form fillings you’d expect such as name, address, phone number and email address. Then the application form moves on to more personal info like your Social Security Number, date of birth, driver’s license number, employment information, and banking information (so they know where to send the funds) . The telephone process essentially walks you through the same questions, just with an operator to assist you.
1 Hour Direct Loan Requirements
The service offered by 1 Hour Direct is one of matching people to payday loan lenders. As such, the specific requirements are left up to their lending partners. All applicants must be a resident of a state that is not Arkansas, Arizona, Georgia, Oregon, or West Virginia due to these state’s laws that forbid payday loans. As with all brick and mortar payday loan companies, military members are prohibited by federal law from such loans from online lenders. 1 Hour Direct also requires that all applicants have a bank account in order to make the loan deposit upon approval.
Lenders do not use a credit check to determine if a loan will be granted. Instead they rely on information about current employment status, income, and the like that you supply to make a determination. As such, it is generally going to be a requirement that a job with an amount of income sufficient to handle the loan repayment be held by the applicant. The exact numbers required will vary based on the individual lender. The more money you require as a minimum, the better your employment numbers will generally need to be.
1 Hour Direct Loan Repayment Process
This particular subject happens to be one of the biggest issues with the 1 Hour Direct website. They note that the repayment terms vary from state to state and that interest rates will vary as well. They state that each lender has specific requirements in regards to interest rates and the like. But they give you very little to go on outside of that. Nor can they really since they are not a payday lender themselves.
There is a cutesy sliding scale on the site (which isn’t linked all that extremely obviously) that tells you roughly what you’ll need to pay at low, average or high interest rates depending on your loan amount (from $100 to $500 in increments of $100) but the actual rate depends on specific lenders. However, there is no mention of payment timeframe on the website.
1 Hour Direct Customer Support
The support on the site is limited to email support which takes up to two days to hear back from and a telephone number (the same as you call to apply for a loan over the phone) which is staffed twelve hours a day. 1 Hour Direct is distinctly lacking a 24 hour real-time customer service option in the form of extended phone hours or website live chat.
The doubling of the phone support with the loan application line is a mixed blessing. On one hand if you get answers you can apply easily on the same call. On the flip side, this means that the agents are potentially going to be trying to get you to apply as they answer your questions. Email support offers you the chance to ask questions without this kind of lurking “apply now” pressure, but it is much slower.
1 Hour Direct Pros
- The work with multiple lenders to try and secure approval
- Quick approval process (usually within 90 seconds)
- Fast direct bank deposits (usually, but not always, within 1 hour)
- Phone support open 7 days a week from 7 AM to 7 PM EST
1 Hour Direct Cons
- Loan repayment terms are extremely vague
- No transparency of lending institutions available
- No live chat support
- Slow email response to support requests
About 1 Hour Direct
1 Hour Direct is a loan matching company that remunerates us for sending new customers their way. The operator of 1 Hour Direct doesn’t offer direct cash loans to customers or make any cash advance decisions. The website matches you with suitable loan lenders who will determine the approval of your loan and the amount you are able to borrow at one time. In most cases, when you provide all the correct and legit information, you will be approved for a short term loan within 90 seconds and the funds will often be deposited within 1 hour. The company is located in Scottsdale, Arizona, but their exact physical address is not found on their site.
Learn more about 1 Hour Direct at http://www.1hourdirect.com
* This is the loan rate and repayment terms I was given when I applied for my payday loan. I’ve got excellent credit though and a great employment history. Two important factors for getting the best loan rate and repayment terms possible.