Female VO: Ever hear ads that say
Male VO (echo sound effect): “No credit, bad credit – no problem! We’ve got your loan!”
Female VO: or
Male VO (echo sound effect): “Get money fast – guaranteed!”
Female VO: or even
Male VO (echo sound effect): “We don’t care about your past; you deserve a credit card!”
SFX: Music begins
Female 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.
The Federal Trade Commission (FTC) is the nation’s consumer protection agency. The FTC works to prevent fraudulent, deceptive and unfair business practices in the marketplace.
