100$ for coffee? Someone has GOT to rein in Starbucks!
this post was submitted on 13 Jan 2025
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A Boring Dystopia
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I'm not sure if she's laughing hysterically or crying.
For anybody wondering what the cost is to using their service, this quote from their website about sums it up:
Credit Genie charges a recurring fee of $4.99 per month or $3.49 biweekly to maintain a user's bank account connection. Paying the bank connection fee does not guarantee approval for a Cash Advance.
So essentially, if you're borrowing from them, you'll pay $60/yr in fees if you can afford $5 a month, or, more likely if you're in the kind of financial situation where you're having to take out $100 micro-loans because your bank balance is consistently hitting zero, you'll get stuck with the $3.49 biweekly option that I'm sure they totally don't heavily push you towards. That's $90/yr.
You get charged the fee whether or not you borrow from them at all, and what do you want to bet they do nothing to notify inactive users of their recurring charges?
Brb, I'm gonna take one of these out and apply to Caleb Hammer
I don't have a single friend who takes loans for anything except morgage, wedding or an affordable car. I haven't met anyone who has said taking a loan and having a credit score is anything but bad.
Well, it's not uncommon for poorer people to see payday loans as a bandaid. I took some out in my twenties and everyone in my family has at one point. I'm now in a position that I'd never need one but they're not targeted at people with money. Which should tell the public how absolutely predatory they are.
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I feel sick, this is revolting