Green Trust Cash loan review: Sky-high interest rates for emergency loans

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In a Nutshell

Green Trust Cash offers small loans at very high interest rates. You probably don’t want to borrow from this lender unless you need fast cash for an emergency and have no other options.
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Pros Cons
Discounts available for returning customers Very high interest rates
  Not available in all states

What you need to know about a Green Trust Cash loan

Green Trust Cash is an online tribal lender that promises quick loans that you can use for unexpected emergency costs like a car repair. Since its loans come with very high interest rates, they’re not a good long-term financial solution and should only be used to get you through tough times if you’ve exhausted all other options.

You can apply for a loan in amounts up to $1,000. Here are some things to keep in mind before you apply for a Green Trust Cash loan.

High APRs

Green Trust Cash loan interest rates are quite high, especially when you compare them to the rates of other online lenders. If you go with a Green Trust Cash loan, you may be stuck with an APR in the mid-to-high triple digits. In fact, Green Trust’s rates can be even higher than the APRs of a typical payday loan.

Discounts for returning customers

If you’ve paid off one or more Green Trust Cash loans on time, you may be able to lock in discounts for future loans. Green Trust calls these members VIPs or VIP Gold members.

A closer look at Green Trust Cash personal loans

Here’s what else you should know about a loan from Green Trust Cash.

  • No prepayment penalty — There are no prepayment penalties, so you can pay off your loan early and save on interest charges.
  • Tribal lender — Green Trust Cash is operated by the Fort Belknap Indian Community of the Fort Belknap Reservation of Montana, which is an American Indian Tribe.
  • Not available in all states — Green Trust doesn’t offer loans in Arkansas, Connecticut, Massachusetts, Montana, New York, Pennsylvania, Puerto Rico, Vermont, Virginia or West Virginia.

Who a Green Trust Cash loan is good for

You may benefit from a Green Trust Cash loan if you need money for an emergency expense as soon as possible. Since a Green Trust Cash loan is a very expensive financing solution, you should look at it as a last resort and only apply if you don’t have other options.

How to apply with Green Trust Cash

If you decide to apply for a Green Trust Cash loan, you’ll fill out an online application on Green Trust Cash’s website. You’ll be asked to enter an offer code if you received one.

Here’s what personal information you’ll be asked to provide as part of the Green Trust Cash application process.

  • Full name
  • Email address
  • Date of birth
  • Social Security number or Tax ID number
  • Government ID type (state driver’s license, state ID card or U.S. passport)
  • Phone number
  • Address
  • Rent or mortgage payment amount
  • How long you’ve lived in your current home
  • Primary source of income
  • Pay frequency
  • Last paycheck/income amount

After you apply, you’ll get an email about your application status. If you’re approved, make sure to read through your loan agreement so you’re aware of all the terms.

Not sure if Green Trust Cash is right for you? Consider these alternatives.

  • Earnin: Earnin is an alternative option for emergency cash. It’s an app that allows you to borrow against your paycheck without fees or interest.
  • Upstart: Upstart might be ideal if you want a lender with a prequalification option that considers more than just your credit scores.
  • Payday alternative loans: Federal credit union members can consider these emergency cash options, which have limits on fees.

About the author: Anna Baluch is a freelance personal finance writer from Cleveland, Ohio. You can find her work on sites like The Balance, Freedom Debt Relief, LendingTree and RateGenius. Anna has an MBA in marketing from Roosevelt Un… Read more.