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If you need cash fast, you may have options besides expensive payday loans.
Check your monthly statements for unexpected charges. This will help you avoid paying for things you didn't buy.
You may be tempted by ads and websites that guarantee loans or credit cards, regardless of your credit history. But if you have to pay a fee in advance for a "guaranteed" loan or credit card – you’re dealing with a scam. Legitimate lenders never promise loans or credit cards before you apply, especially if you have bad credit, no credit, or a bankruptcy.
Female VO: Ever hear ads that sayMale VO (echo sound effect): “No credit, bad credit – no problem! We’ve got your loan!”Female VO: orMale VO (echo sound effect): “Get money fast – guaranteed!”Female VO: or evenMale VO (echo sound effect): “We don’t care about your past; you deserve a credit card!”SFX: Music beginsFemale VO: The catch? If you apply, they ask you to pay a fee up-front. But you probably won’t get a loan, and you won’t get your money back.
Real lenders, like banks or credit unions, evaluate your application and check your credit history before they guarantee an offer of credit — even if your credit history is good.
Truth is, if you have to pay a fee in advance for a guaranteed loan or credit card – you’re dealing with a rip-off.
Only scam artists promise a loan or credit card — but insist you pay first.
So when it comes to the promise of a loan, exercise doubt. Check out FTC.gov to learn how.
A tip from the Federal Trade Commission, the nation’s consumer protection agency.
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