Why you should avoid the Pitfalls of Credit Builder Loans!

Test your knowledge and you could win free rent reporting
Take this quiz

Why is this important?

  • Avoiding predatory lenders is one of the keys to staying 720 Credit Ready
  • Credit Builder Loans are without question a predatory loan that you should avoid
  • Paying a company a fixed fee of 15% to have them hold your money for you is insane, savings accounts pay you 5% for the privilege to hold your money
  • If you have a credit builder loan, CANCEL it and get your money back

What they did not tell you

  • At the end of the so called loan, the account is marked as paid and closed
  • This will cause your Credit Score to drop
  • All positive effects of the account disappear
  • You would have just taken 2 steps backwards
  • The amount of money you get back will be 15% less than what you paid

Gross profits at the expense of working families

  • One well know credit builder loan service claims to have returned $500 Million in funds to credit builders.
  • This means they have profited close to $100 Million of your money
Test your knowledge and you could win free rent reporting
Take this quiz