don't you just hate it when you hear bad credit OK .but its not OK you end up with no loan?

Question

because your credit is not good.is that dumb or what?

Answer 1

It's a contridiction- to their benefit. Don't fall for it!

Answer 2

My sister actually went for one of those loans and it was a terrible idea. Here are some good reasons.
1. They charge an astronomical interest rate (Over 80%).
2. They need collateral (My sister used her car).
3. They charge extremely high finance charges (over $100).
4. Most don't take credit card payments, only check or money order.
5. It does not help your credit whatsoever. It only shows credit companies you don't know how to manage your finances.
My sister ended up losing her car and had to buy a new one because she refused to pay the loan she received. It was only a $500 loan, but they were very, very, very, rude about it. She offered to pay half of it first, and then half later, but they wanted it all in full first payment. Be careful with these companies. They may drag you in with "No Credit? Bad Credit? NO PROBLEM!" But the problem is it is a very big rip off. Good Luck!

Answer 3

That's the bad thing about credit, THEY EXPECT YOU TO PAY IT BACK!....... LOL