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
Potentially fast funding Short time until first repayment is due
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 ranging from $300 to $1,000, and bad credit or no credit won’t necessarily disqualify you. 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.

First repayment may be due soon after you get the money

If approved, you’ll have to make your first loan repayment within seven days after your funding date. This can be a problem if you don’t have the cash on hand and need more time to come up with it.

A closer look at Green Trust Cash personal loans

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

  • Bank account required — To apply for a Green Trust Cash loan, you’ll need an active checking account and recurring source of income.
  • No hard credit inquiries with the three major bureaus — The lender does not check credit with Equifax, Experian or TransUnion, the three major credit unions.
  • Rate discount — If you decide to repay your loan via electronic debit from your bank account, you’ll get a small rate discount.
  • No prepayment penalty — There are no prepayment penalties, so you can pay off your loan early and save on interest charges.
  • Potentially fast funding — Green Trust says your money can be deposited into your bank account by the next business day.
  • 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 have no credit or bad credit and 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.

  • LendUp: If you’d like to build your credit, a LendUp loan may be a better option since it offers credit reporting on some tiers of its LendUp Ladder program, which is available in some states.
  • NetCredit: NetCredit may be a good alternative if you need to borrow a larger amount of money since its loans go up to $10,000.