Quick Cash Loan Email Scams

Chances are you received many of these, irratating emails that rave about how much money you can get , usuallly fast and with little effort.

While you may very well be deleting these emails ( the smart thing) there are many who actually go through the process and submit their personal information in hopes of solving a temporary cash flow problem. By hitting the submit button with all your personal info, it's highly likely you're creating a brand new problem with potentially devastating financial consequences.

Quick cash payday loans email scams have become rampant on the internet lately.

So, how can you tell if it's a fast cash email scam?

Payday Loan Email Scam Tip 1 - Contact Information

The reputable brick and mortar fast cash loan companies will have a link that displays somewhere on the page, all the contact information - address and telephone number.

The best online quick cash loan provider will at least have a live telephone number (physical address is not an issue with the online company). The scam company will not have any real contact information.

Sending your personal information - social security number, bank account numbers, routing numbers, telephone numbers etc... is the main objective of these bogus emails. This is also known as "phishing" and is a popular method to steal your identity.

Payday Loan Email Scam Tip 2 - Low Interest rates

Fast cash companies must charge high fees to profit. Expect to pay at least $15 to $25 per every $100 borrowed. This is standard in the fast cash loan industry so anything less should be a viewed as a scam.

Forget APR - Look at Least Cost Alternative

Just an FYI, borrowing money at $15 per every $100 creates an APR (annual percentage rate) of 391%. This seems outrageous and ridiculous... however you must realize these are short term loans - about 14 days. Don't worry about APR it's irrelevant. You should use the quick cash loan as a least cost alternative. To understand why using the quick cash loan is preferable in many cases see When Should I Use a Quick Cash Loan?

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