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I can understand there reasoning for this but at the same time it hurts a persons credit even more.

At those loan places that they give you loans with extremely high interest rates, after a few payments they allow you to renew your loan and get some of the money you paid back. But not upping your loan limit. Anyways they send these notices in the mail or call you and let you know how much you have. So i went in to renew mine because money is so tight and i could use a little cash. And the lady said it is time for my update. I said ok. I didn't remember ever having one before but what ever.So we went thorugh everything and nothin ghad changes, but they pulled another credit report. I didn't know she was going to to that. If i had i wouldn't even have renewed the loan. My credit is already bad enough without having inquiries on it. I mean i already had the loan and had renewed before . If they didn't want to renew them, they shouldn't allow customers to do so. Not just run a credit report without fully explaining so.

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Asked by Anonymous at 3:50 PM on May. 5, 2009 in Money & Work

Answers (3)
  • Usually those types of companies don't run a credit check. Hmmmm did you ask her why?

    Answer by Anonymous at 6:03 PM on May. 5, 2009

  • The only reason you need a credit score is to get MORE CREDIT. Nobody needs more credit. They just need to learn how to manage their money.

    Get rid of that loan!!

    Answer by fluud7 at 6:22 PM on May. 5, 2009

  • I agree with Fluud7 Get rid of that loan ASAP that's how they operate you get short on funds and they give you a free option to get an extention on your loan. I almost fell into that trap until I said enough is enough and paid the loan off with my one of my pay checks. It hurt to do that but I wanted that debt off my back. You can do it just don't depend on them when your money get's tight.

    Answer by Princessstar024 at 11:01 PM on May. 5, 2009

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