If I were to get a pay day loan and pay it on time will it help improve my credit?
2007-02-15 09:20:25 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
HECK NO!
you be playing with Snakes and you will get the shaft.
Payday loans have interests up to 600% per year. even monthly up to 75%.
visit daveramsey.com to learn what bankers credit salve cards pray you never ever learn or worse APPLY in you life.
2007-02-15 09:32:00 · answer #1 · answered by Anonymous · 2⤊ 0⤋
Just say no to Payday loans, Title loans and or signature loans. My advice to anyone is to rob, cheat or steal before they take out a payday loan. It's such a viscious cycle that one loan could put u in a finacial bind that will make u wanna rob cheat or steal to get out of. I don't condone bad behavior, I'm simply saying cut out the middle man.
2007-02-15 09:52:03 · answer #2 · answered by Neo 2 · 0⤊ 0⤋
If they report to the credit bureaus then yes your score will go up since they will show as another line of paid as agreed credit.
But, in the long run it will really hurt you because it will look to a lender like you could not budget your money and had to depend on pay day loans to make ends meet.
O.B.T.W. gas, power and phone companies do not report to the bureaus.
2007-02-15 10:12:31 · answer #3 · answered by ? 7 · 1⤊ 1⤋
Stay away from those guys. They are nothing but bad news. Just pay your power and water bills on time and your credit will improve.
2007-02-15 09:26:09 · answer #4 · answered by Cardinal Rule 3 · 0⤊ 0⤋
This site is for comparing rates for you and free WWW.CREDITVAULT.NET
RE:Can payday loans help your credit?
2014-07-17 02:36:23 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If you can't get a MUCH better loan somewhere else, bankruptcy would do more to improve your credit.
2007-02-15 11:41:04 · answer #6 · answered by STEVEN F 7 · 0⤊ 0⤋
You will find very useful this site for finding the best option for you CREDIT-SOLUTIONS.INFO
2014-05-10 02:56:37 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Compare rates free
2015-02-02 01:05:54 · answer #8 · answered by ? 1 · 0⤊ 0⤋
NO. They don't report to a credit bureau - you can only end up getting hurt if you don't pay it back and they send you to collections, that WILL get reported...
2007-02-15 09:24:45 · answer #9 · answered by AriesJWR 4 · 0⤊ 1⤋