Loan/Credit Card Scam Warning Signs1. You’re asked for money upfrontThere’s never any reason to pay a lender or broker upfront. A loan broker should only ever get paid by the lender, in commission, after the deal is done. 2. There’s no contact information onlineAvoid lenders who don’t have a physical address or easily-found contact information. 3. The lender guarantees you’ll be approvedNo lender can guarantee that you’ll be approved for a loan. When a business offers customers a guarantee, that’s a binding promise they must deliver on. 4. The lender uses a generic email addressesIf a business lender is emailing you from a Gmail, Hotmail, Yahoo or other generic email account, then something is off and you should tread carefully. 5. The lender contacted youIf a lender offers you an unsolicited loan, it may be a sign of a scam. Lenders don’t offer loans with a cold call. |