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I believe AACe provides a needed service at reasonable prices. The services provided by AACE include bill payment, money orders, check cashing, small loans, and phone service. As a college student who has had several dealings with pawn shops, the policies and pricing of AACE seem fair. Lower tier moneylenders (pawnshops) apply higher interest rates, and few services beyond money lending. The demographic group AACE serves with loan products is mostly ignored by higher tier lenders, and is a higher risk group. The higher interest rates and fees are justified (in my mind) by this risk, and seems more appropriate than the rates charged by pawnshops. I do believe AACE could be even more profitable by adding higher level services (Debit cards) and providing perks (reduced fees/free bill paying, etc) to frequent, lower risk customers. AACE is working to improve its customer service, and will be conducting surveys at all of its stores to determine customer statisfaction. Eventually, store and regional management compensation will be affected by this rating. (Source, conference call on April 20).

I would be interested in other comments regarding the ethics of the AACE business model also; it seems as good or better than most credit card companies.

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