Rockstar Loans Review

Rockstar Loans Review
Rockstar Loans is taking personal loans and trying to make them cool by giving them a rockstar theme. They say you can get money into your account the next day, and that you’re approved instantly, which is nothing new in this industry, and something we always check into further to see if it’s actually true.

They allow you to take up to $2500 out, and even more in some instances. That’s more than most payday lenders are legally able to lend, so in all likelihood this would be more of an online loan than a payday loan. There is a big distinction between online loans and payday loans, and one of the things that is different is that payday loans need to be paid back on your next payday, but an online loan will have payments that must be made either monthly, or on each of your paydays.

Be sure to check the specifics of the loan before going forward. You’ll need to know how much money you’ll receive, how much money you’ll have to pay back, when payments are due, how much you’ll end up paying in total, what happens if you miss a payment, when your final payment is due, and what all of this represents in terms of an APR percentage.

Rockstar Loans Review – Not a Lender

Rockstar Loans is not a lender, and as such you won’t be getting your money directly from them. They’re basically just a middleman, but there is no extra fee for you to pay to use their service. They’ll collect a commission from the lender you end up going with, if you end up going with a loan. They may also get a smaller fee for sending lenders a lead. These sites are very common in the loan industry. They try to keep up with the promises made from other lenders, like being able to get the money into your account the next day, but that’s really out of their control since they’re not the lender.

The Service Provided
The big service that you’re supposed to be receiving from going with a site like this is that you don’t have to fill out a bunch of applications, you just fill out one application and a bunch of lenders will look at your information and be able to make a faster decision. It is hard to determine whether a site like this is actually matching you up with a lender based on your specific criteria or whether they are just sending the information to all of the lenders and letting them make the decision on whether they want to lend to you or not.

At the very least this may save you some time because it is just one application. It’s hosted on a secure server, so your information is encrypted. There are many sites out there that ask for your personal and even banking information on an insecure page. That’s one thing that Rockstar has going for it, they appear to be doing their best to provide you with everything that’s needed to get your information submitted.

Not Instant Approval
Since they are not a direct lender there is no way that Rockstar can give you instant approval. They must first send your information to the actual lender and then wait for the lender to get back to them with a decision. They may give you a preapproval, but that is pretty meaningless because the actual approval or rejection will be coming from the company that has the money, not the middle man that is just collecting leads.

Our Recommendation
Rockstar Loans is a matching service that is mostly interested in collecting your application information and sending it on to direct lenders. They aren’t interested in loaning you money and having you pay it back, that’s up to the lender. They simply want to acquire you as a lead and then get paid by lenders for finding a new potential borrower. As long as you are ok with this, they are doing their best to provide you with a secure site and you just have to trust that their network of lenders will have one lender that wants to loan to you.

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