How does a no credit check loan, or no credit check financing affect your credit?
iqyellow asked:
How do these types of loans affect your credit. Does it improve it when its paid on time, and does it hurt it when you don’t. Just wondering because if there is no credit check, how does it reflect on your credit.
David
How do these types of loans affect your credit. Does it improve it when its paid on time, and does it hurt it when you don’t. Just wondering because if there is no credit check, how does it reflect on your credit.
David
May 1st, 2010 at 3:48 am
Gertrude
I think the idea is;
People with bad credit are the ones who would usually go for a loan like this.
The interest rates are very high, to allow for high risk lending. They probably have Heavies to harass you if you don’t pay.
Best to stay away from them. If they don’t do a credit check, it cant affect your credit, good or bad.
Stay away!!
May 1st, 2010 at 4:03 pm
Gertrude
Stay away from these types of credits, they are very bad.