Avoid Credit Builder Loans

Why you should avoid the Pitfalls of Credit Builder Loans!

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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