FAQ for Cash Exchange Pawn Shop in Chicago, IL
What are the age requirements to make a loan?
You must be 18 years of age and have a valid government issued I.D. Examples: driver’s license, state I.D., passport, resident alien, non-resident alien, military I.D.
Is there a limit to the amount of money you will loan?
There is no limit to the amount of loan we will give. While most loans average from $150 to $1,000, we will also give loans from $10 to $100,000. No amount is too big or too small! We specialize in larger loans of $10,000 and up !
What kind of collateral do you accept?
- Gold, silver, platinum jewelry
- New and used jewelry – any condition
- Diamonds of all shapes and sizes
- Broken/scrap gold and platinum
- Sterling silver flatware, tea sets, etc.
- U.S. gold and silver coins
- Watches – both pocket and wristwatches
- And much more – ask us!
How long do I have to repay the loan?
Loans are based on 30 days, and are all renewable, so you can have as much time as you need to redeem your item. The interest, handling and storage charges should be paid every 30 days, but if you can not pay in 30 days, you will always get a 30-day grace period. We also can make special payment arrangements in certain cases for 90-day loan payment schedules.
What if I miss a payment on my loan, will that hurt my credit?
No, pawn loans are not reported to credit agencies like other types of loans. If you default and do not return, then your item(s) become our inventory with no effect on your credit score. If you miss a payment, you still have a 30-day grace period to pay the following month.
What if I can’t come into the store? Can I get a loan through the mail?
Yes, you can send us your items via UPS, insured, and we will send you the money. Call us and we will give you detailed information on how this process works.
Contact Cash Exchange Pawn Shop today at 773-262-2274 for a free appraisal, or browse the website for more information about our pawning inventory.