I got a preapproval notice from this company and since I needed a short term loan, I figured I'd check it out. I am so glad I asked for more details and did not accept the loan!
They told me I was preapproved for a $600 loan and that payoff would be $353 a month...for 6 months! That's a $2100+ payback on a $600 loan! SO I said okay, if I pay it back on the first month instead, what's the payoff. The rep said payoff would be $900+!
So over $300 in interest for a single MONTH on the loan!
Even the worst payday lenders only charge around $50/month in interest for a loan in that amount. If anyone is considering getting a loan from here, DON'T DO IT!
Product or Service Mentioned: American Web Loan Loan.
Reason of review: Pricing issue.
I didn't like: Obscenely high interest rates.