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Report: #366989

Complaint Review: Loan Point USA - Salt Lake City Utah

  • Submitted:
  • Updated:
  • Reported By: acworth Georgia
  • Loan Point USA 1338 S. Foothill Dr. Ste. 325 Salt Lake City, Utah U.S.A.
  • Phone: 800-3518820
  • Web:
  • Category: Loans

Loan Point USA rate & terms Salt Lake City Utah

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So luckily I did not actually go through with the sign up, but the representative on the phone was beating around the bush so much with the rate & terms. I was approved for the $500.00 loan, there interest rate is $150 of that.

Expensive but whatever, I could've went for it. Turns out I finally got the truth out of the rep., every two weeks they charge $150 in interest. So every two weeks you make a $150 payment, that goes to interest only, anything on top of that is principle, this is every single two weeks. So lets say you get a credit card with a $500 limit and you fill it up in 1 month, at the end of the month you will get a bill for $800, $300 in interest, which is 60% interest. thats what they are charging you. 60% interest every two weeks!

Merch777
acworth, Georgia
U.S.A.

This report was posted on Ripoff Report on 08/26/2008 08:10 AM and is a permanent record located here: https://www.ripoffreport.com/reports/loan-point-usa/salt-lake-city-utah-84108/loan-point-usa-rate-terms-salt-lake-city-utah-366989. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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