Payday Loans Cube Reviews

Payday Loans Cube ReviewsThe interesting thing about Payday Loans Cube is that they don’t actually lend any money themselves, and they merely state that they can put you in touch with any letters that match your requirements. If you’re not familiar with one of these application collecting sites, you might be wondering whether or not they’re good idea.

In the world of online loans, you either have direct lenders, or you have lead generation websites. This is an example of a site where all he wants to do is select your application information, and sell it off to a list of lenders that have gathered so that they can make money just off of your information. You’ll actually be doing business with the lender that you choose to go with if you choose to go with my all.

You’re not under any obligation to choose one of the letters they match up with, you also do not know how many vendors will be receiving your information, and what kind of quality will be either. None of this information is provided, so it is really a shot in the dark as far as how your information will be used and evaluated.

Payday Loans Cube Reviews – Not a Direct Lender

It’s not such a bad thing that Payday Loans Cube doesn’t do any lending on their own. Some people actually prefer to use one of these services instead of going directly to a bunch of different lenders and filling out all black occasions. It’s really a matter of personal preference, as it could just take one application of the right direct lender to give you a loan. However, if you’ve been denied by a few lenders you might be getting tired of filling out the applications, and you might be tempted to go with one of these aggregation services.

It important to remember that the cost of your loan is not going to be any higher because you use a third-party to find a lender. The lender will pay the fee to Payday Loans Cube and will not charge you a higher rate because they found you through that service. In that respect, it makes some sense to fill out one application and have your pick between different lenders.

Ambiguity Is Not Good
What also is not a clear is how we use your information to match up with the lenders. There are several ways they could go about “matching” you up with a lender. They could use a bidding process whereby they auction off your information to the highest bidder. Or they could be charging these lenders a monthly fee for an unlimited amount of leads, and it’s basically a free-for-all. Even though the services claim to match you up with a lender that meets your requirements, the truth of the matter is that it’s all about money, and they will use your information to suck as much money out of these lenders as possible.

It would also be interesting to see if they get paid per lead, or if they only get paid when someone takes out a loan. This sort of information would be helpful to see if there is any conflict of interest, and to see how your information will be used, and how many eyes will see it. It might be secure while you transfer it, but once it’s out of their hands who’s to say what happens to it.

More Information Needed
Payday Loans Cube provides some information at their website, but it is mostly on the different state regulations that are in place in each state. We would like to see more about how they actually match you up with the lenders, and also what sort of lenders they have in their directory. They say that they have over 300 lenders listed, so we don’t need information on each one, but just some sort of general statistics as far as what kind of companies they are affiliated with.

There are better loan matchmaking services out there, including companies that are more transparent with how the user information, and are more likely to actually match you with the lender rather than just farm your information out to a list of hungry lenders.

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