Is My Instant Offer A Scam?- Get The Answers In My Review!
Name: My Instant Offer
Owner: Scott Sanborn
Overall Rating: 7 Out of 10
There has been a lot of noise about My Instant Offer. And you must have been approached by a marketer or got some information on the social media about this company.
The company claims that it connects the borrower to the investors and offers a fixed-rate loan up to $40,000 for the applicant that qualifies.
Some say it’s legit while others call it a scam.
Can My Instant Offer be another Scam?
Within this review, I will be showing you whether this lending network could help you loan money or if you better off exploring other option to make money online.
What Is My Instant Offer (Lending Club) All About?
My Instant Offer (Lending Club) is one of the online loan services that are gaining popularity today, especially when it’s coming from a lender that offers you a very low-interest-rate compared to the higher interest rate of the most financial institution.
They enable borrowers to obtain a loan and investors to purchase notes backed by payments made on loan.
Here’s a Quick Video on Lending Club.
The loans are provided by WebBank which controls the peer to peer lending. The credit and interest are determined by the amount you are loaned.
At the time of this review, their parent company Lending Club has the A- rating on the Better Business Bureau. BBB ranks companies on F to A+ scale, Lending Club rank is an excellent rating. Receiving an A- from Better Business Bureau is a sign of a very trustworthy company.
On April 25, 2018, the Federal Trade Commission (FTC) filed a complaint against LeadingClub. The case is currently pending. Click Here for details.
My Instant Offer Loan Can be used for:
- To pay for the high interest of your credit card.
- Home Repairs.
- You can get the loan for vacation.
- You can obtain the loan to buy a car.
- You can get the loan for part payment for a house.
- Medical expenses.
- Your school fees.
If you are desperately in need of money in the future and don’t want to go through the long process of banks, My Instant Offer is here to help you out as long as it’s not beyond $40,000.
The Qualification Process
Once your application is approved you will be directed to a particular portal of the myinstantoffer.com. Then you will be required to enter the amount you need, the purpose of the loan, and your credit score.
They will also need your personal details to proceed with the qualification step.
- Your Home Address.
- Date of birth.
- Email address.
- Your yearly Income.
You will have to agree to their terms and conditions and the other disclosure agreement.
Once you click on “Get my Rate,” it will process your information and determine whether or not you qualify for a loan.
Am I qualified For The My Instant Offer Loan?
You are not entitled to this loan if you have a FICO credit that is below 600, but a higher credit score is also not an automatic qualification.
And they must also be sure that you have a consistent job or wages for you to be considered at all for the loan. Your tax record may be needed to actually know you have a job you are doing at the moment.
This means that your FICO score must be good and you must have a job that is actually earning you money to fund the loan.
If you have a lot of debt already, your application won’t be accepted. The person that can get the loan is the person that is financially responsible.
I will advise you to estimate. It is important for the ideal amount you need and how fast you will be able to pay the money back will always help you to make the right decisions for the healthy financial habit.
What I Like About My Instant Offer
There are a few factors that set this loan network apart from the others.
- The lending process of My Instant Offer is very clean and it’s legit.
- Their method of application is super easy and they even accept the joint application.
- The company has a good rating from the Better Business Bureau (BBB) and they protect how much you are getting from them and your privacy.
- Their interests are very low and they also have some fixed rate that is the same.
- They also offer you the opportunity of paying the loan on time to reduce the interest.
What I Don’t Like About My Instant Offer
My Instant Offer does a great job of connecting people who need a loan to people who have extra money to lend. However, not everybody has a good experience.
- Some loan application is denied. This is the main complaints borrowers have with them.
- The loan is not available in some states. If you live in Iowa or West Virginia, it can be frustrating because you can not get a loan from them.
- Too much email and phone calls from them if you fail to make a payment. If you do not make a payment, they will send your loan into collections. As a result, you can sometimes get annoyed by the email and phone call from collectors.
Is My Instant Offer The Best Option For You?
If you want to loan money it’s your responsibility to know the lender that is better.
The Loan Term Of My Instant Offer. Ensure the various terms and conditions to the loan are fully disclose to you. Terms like the repayment period and which method you will be required to pay with.
The Loan Processing Times. Identify how fast the lender process the loan. Assuming you need Particular money in this week, it will be good to know which lender can loan you the money within this timeframe.
Make A Comparison of My Instant Offer with other Loan Network. You do a thorough check of the different network that offers loan we have out there.
You can check for their comments and other things that that will inform you about the company.
Here Is What I Really Think
If you want a loan that is not more than $40,000 with a very low-interest rate, then My Instant Offer will be the right choice for you.
You are only qualified for the loan if you have a good FICO score and have a job or consistent wages.
In my own opinion, My Instant Offer is not a scam and it’s a network that offers people a loan at a very good interest rate.
This might just be the network that you will need to pay for your debt and every other expense at a very attractive interest rate.
Do you happen to have any previous experience with this company that you would like to share with everyone else here today? If you do so, tell me all about it in the comment box below!
Thanks for reading.
All the best!