Hello everyone! I’ve seen a lot of posts lately from people asking for loans without giving much detail, and some folks wondering why they’re struggling to get approved. So, I wanted to share some tips.
This is not an invitation to reach out for a loan.
If you’re trying to borrow:
Be clear about the amount you need, the interest you’re offering, and your payback timeline.
Have your ID and a few paystubs ready.
Avoid messaging people randomly hoping they’ll lend to you. Only reach out if someone specifically invites you to.
Watch out for these warning signs:
Never pay a deposit upfront.
Be wary of brand-new accounts with low karma or profiles only focused on loans. It’s not a definite red flag, but it’s worth being cautious.
And for lenders:
If a borrower isn’t open to using secure payment options that let you dispute transactions, that’s a warning sign.
Like with borrowers, new or low-karma accounts might be something to look out for.
Totally agree about the low karma issue… I’ve got a steady income, can show all the needed documents, but my karma is low, so I just need someone willing to give me a chance to prove myself.
Miller said:
Totally agree about the low karma issue… I’ve got a steady income, can show all the needed documents, but my karma is low, so I just need someone willing to give me a chance to prove myself.
Same here! I have one approved loan on Simpleloans that I paid off early, but it was a small amount!
Miller said:
Totally agree about the low karma issue… I’ve got a steady income, can show all the needed documents, but my karma is low, so I just need someone willing to give me a chance to prove myself.
I switch accounts pretty often just for fun, so none of mine have high karma. But if I add up all the karma from each, it would probably be a decent amount!
Great points! Thanks for saying that low karma isn’t always a red flag. I don’t post much but have been on this forum for years. Just because someone doesn’t have a ton of karma doesn’t mean they’re untrustworthy.
Some tips for folks here to stay safe from scams and make sure users are trustworthy:
How to Protect Yourself:
Double-Check Loan Offers: If a loan seems too good to be true, it probably is. Most legit lenders won’t guarantee approval without verifying your info.
Look Up the Lender: Try a quick forum search to see if anyone’s had past experiences with the lender. Watch out for warnings.
Keep Personal Details Private: Never share your Social Security or bank info publicly.
Watch for Upfront Fees: Scammers might ask for fees upfront. Real lenders usually just deduct fees from the loan itself.
Stick with Known Lenders: Going with a lender who has a reputation can save you trouble.
Check for Secure Sites: Always use secure websites and avoid putting personal info on sketchy pages.
Avoid Urgent Offers: Scammers often create a sense of urgency. Take your time.
Checking Reddit Karma:
Check Profiles: You can see someone’s karma by clicking on their profile.
Look at Their History: A user with a long history and regular posts is usually more trustworthy.
Be Wary of New Accounts: If an account was made yesterday, it’s wise to be cautious.
Look for Positive Engagement: Regular helpful comments often show someone who’s genuine.
Report Suspicious Accounts: If something feels off, report the user to help keep this forum safe.
By staying cautious, you can avoid scams and have a better experience here!
Just remember, it’s on each of us to avoid scams. We keep posting rules minimal to help folks who really need it, but that also means scammers can come here too. Keep your eyes open.
Ask yourself these:
For borrowers – why would a lender ask for an upfront fee?
For lenders – why would a borrower be reluctant to show ID?
Has anyone been asked to verify through some casino site? I keep getting requests for this, but I already tried it once and now I can’t do it again. Sometimes they ask me to make a Truist bank account too. Also, people asking to ‘hold’ my Cash App account until I repay… haha! Crazy stuff.
@Payton
Yeah, don’t fall for that. They probably use your info to create accounts at those casinos. They get daily bonuses or referral points from these accounts or something.
Cleo said: @Payton
Yeah, don’t fall for that. They probably use your info to create accounts at those casinos. They get daily bonuses or referral points from these accounts or something.
Haha, I guess if they paid me a bit, I might be okay with it?
Man, I had around 100 karma on my 3-year-old account, not much, but enough to get a small €50 loan. Now, my account’s gone because I got scammed. Feels so unfair.
