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Thread: Wtf

  1. #1

    Default Wtf

    I'm sure all of us on here have and continue to receive unsolicited offers for cash loans from time to time in our mail, but today my jaw dropped. Whenever I receive one of these I always look at the APR. and get a chuckle at how high they are. But today I received what can only be described as the mother of all APRs.

    You're pre-approved for an instant $800 loan with an APR between 301% to 349%. I thought that was a misprint but no, it's the real deal.
    In case anybody's interested it came from an outfit named CashNetUSA.

    I'm sure glad that even though my wife and I are retired we still can squirrel away $175 per week and not have to be desperate enough to be tempted by these offers. Thoughts.

  2. #2
    FEP Power Member gmatt's Avatar
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    I believe that is called usury.

  3. #3

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    [QUOTE=gmatt;1845565]I believe that is called usury.[/QUOTE

    Funny you should reply because I see you're from Chicago and that's where these guys are from. I've just never seen anything like that, and I've been around since water and black thread.

    I guess no mater how old you are you'll always keep learning one way or the other.

  4. #4

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    there are a few firms in the UK who are offering over 1000% apr, check out Wonga.com the sad thing is its always the people who struggle for money that get sucked into these deals...
    People who say it cannot be done should not get in the way of the people doing it!

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  5. #5
    FEP Supporter webestang's Avatar
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    WOW......388.93% for Missouri..... https://www.cashnetusa.com/rates-and-terms.html

    Scotty
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  6. #6
    FEP Senior Member roadkill's Avatar
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    F***ing thieves...
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  7. #7

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    Good thing all the predatory credit card and loan laws have been removed. Things are going really good in this country. They also recently did a secret vote to try to end all overtime and blacked out media coverage. Google search brings it right up.
    2 1986 cougars (both 4 eyed and 5.0)
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  8. #8

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    No such thing as a predatory lender. Doesn't exist. I can ask whatever I want for my widgets or loans and you have the option to NOT purchase any of them and tell ms to piss off. It's called a free market and what this country was built on. Buyer beware etc. etc. The banks were not responsible for a single bit of the 2008 collapse. The people who took loans out they could never afford to pay back were. In fact, good old GovCo was forcing the banks to loan that money because they thought that people who couldn't afford to own a house had a right to get one anyway. Go figure. The Government was wrong. Shocker.
    Last edited by homer302; 05-19-2017 at 05:18 PM.

  9. #9
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    Quote Originally Posted by webestang View Post
    WOW......388.93% for Missouri..... https://www.cashnetusa.com/rates-and-terms.html
    I think the mafia offers better interest rates than that.

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