Our Methodology

How we review, rate, and compare payday lenders to help you make informed borrowing decisions.

Our Mission

At Credizen, we believe transparency is essential when comparing financial products. Our mission is to provide accurate, unbiased information that helps borrowers find legitimate payday lenders with fair terms and competitive rates.

We earn commissions when users apply through our links, but this never influences our ratings. All lenders are evaluated using the same objective criteria outlined below.

Our Rating Criteria

We evaluate payday lenders across 6 key categories, each weighted based on consumer impact:

30%

APR & Total Cost

We compare Annual Percentage Rates (APR) and total loan costs across lenders. Lower APR = higher rating. We use representative examples ($500 for 14 days) to ensure fair comparisons.

25%

Approval Speed & Process

How quickly can you get funded? We evaluate application time, decision speed, and fund transfer time. Lenders with 24-hour funding or instant approvals score higher.

20%

Fees & Transparency

We assess origination fees, late payment penalties, and rollover charges. Lenders with clear fee disclosure and no hidden costs receive higher scores.

15%

Customer Reviews

We aggregate ratings from Trustpilot, BBB, and Google Reviews. Lenders with 4+ star average and positive feedback on customer service rank higher.

Eligibility Requirements

Lower credit score requirements and flexible income verification increase accessibility. We prioritize lenders that serve borrowers with limited credit history.

Compliance & Licensing

All featured lenders must be licensed in their operating states and comply with CFPB regulations. We verify licenses through state databases.

How We Calculate Ratings

Data Collection: We gather data from lender websites, state regulator databases, and customer reviews.
Standardized Testing: We use representative loan scenarios ($500, $1,000, $2,000) to compare APR and total costs.
Weighted Scoring: Each category receives a score from 1-10, then multiplied by its weight (e.g., APR × 30%).
Final Rating: Scores are summed and converted to a 5-star scale. Lenders with 4.5+ stars are marked "Recommended".
Quarterly Updates: Ratings are reviewed every 3 months to reflect changes in lender terms, fees, and customer feedback.

What We Don't Consider

To maintain objectivity, we do not factor in:

❌ Commission rates (all lenders evaluated equally)
❌ Marketing budgets or advertising spend
❌ Personal relationships with lender representatives
❌ Sponsored placements (ads are labeled separately)

Data Sources

Our reviews are based on verified information from:

✅ Official lender websites and loan agreements
✅ Consumer Financial Protection Bureau (CFPB.gov)
✅ State financial regulator databases
✅ BBB (Better Business Bureau) ratings
✅ Trustpilot and verified customer reviews
✅ Independent third-party audits (when available)

Our Editorial Standards

All content on Credizen follows strict editorial guidelines:

✅ Fact-checked: Every data point is verified against official sources
✅ Updated regularly: Lender information reviewed quarterly
✅ Transparent disclaimers: Commission relationships clearly disclosed
✅ No fake reviews: Only verified customer feedback included
✅ Accessible language: Financial jargon explained in plain English

Responsible Lending Commitment

Payday loans should be used for short-term financial emergencies only. We encourage borrowers to:

Compare multiple lenders before applying
Read all loan terms and fee disclosures
Borrow only what you can afford to repay
Explore alternatives like credit unions, salary advances, or payment plans

For financial counseling, visit the Consumer Financial Protection Bureau or call the National Foundation for Credit Counseling at 1-800-388-2227.

Contact Us

Have questions about our methodology? Want to report outdated information? Contact our editorial team – we respond within 48 hours.

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