Credit card fraud and identity theft are on the rise. In 2017, more than 16.7 million Americans became victims of identity theft. The same year, over one million fraud reports were filed.
Considering these facts, it’s no wonder who so many customers hesitate to make transactions online. But what if you want to pay bills or apply for a loan over the Web? How can you tell which service providers are secure and trustworthy?
Let’s take online lenders, for example. In this digital age, more and more companies are offering loans online. Your only job is to send over your ID or driver’s license along with your bank account number and proof of employment.
Anyone could use these files to steal your personal data — or even your identity. Does this mean that you should give up trying to get a loan?
Not at all.
Here are five ways to tell if your alternative to payday loans with no credit check are secure:
Look for Trusted Lenders
Go online and search for lenders who meet your requirements. Focus on those that appear first in search results and have positive customer reviews.
Let’s say you have poor credit and need money to pay your bills. Type “payday loans no credit,” “loans for bad credit,” or “cash loans no credit check” into your browser. Your search will most likely return thousands of results.
Check the lenders listed on the first and second page of Google or Bing. Read their terms and conditions to see whether or not you qualify for a loan.
Research those that meet your criteria. Look up their business names and financial data online. Check with the Better Business Bureau too.
If you can’t find any “official” information, move on. The company in question may not be legit.
Verify Data Encryption
Once you have a list of lenders, check their websites before sending over your information. Make sure their web address starts with https:// and look out for a padlock symbol in the browser’s search bar.
If the website address begins with https://, it means that your data is safe. Businesses must go through a strict validation process to get an SSL certificate so they can use “https” instead of “http.”
Check the Domain Name
Many times, cybercriminals create sites that look exactly like an existing website to trick customers into paying online. However, they are always able to use the same domain name as the original site.
For example, they may use “amaz0n.com” instead of “amazon.com,” or “spotify.om” instead of “spotify.com.” The same can happen with payday lending websites.
Take the time to check URLs for missing letters, typos, or suspicious domain extensions. A reputable lender would never make these mistakes.
Look for Suspicious Activity
Every day, millions of websites are being hacked or infected with malware. Many times, their owners are not aware of it and realize what happened when it’s already too late.
If you access a payday lending website and it prompts you to download an app or redirects you to suspicious sites, go away as fast as you can. This indicates that the site has been comprised and that your data is not secure.
Read Customer Reviews
Once you’ve found a loan that suits your needs, search for customer reviews online. Check out what other clients have to say and what their experience was like.
Weigh the pros and cons in order to make an informed decision. Be suspicious of any offer that seems too good to be true.
How to Find Secure alternatives to Payday Loans with No Credit Check
Shopping for an option other than secure payday loans with no credit check isn’t that difficult. You just need to research your options and pay attention to the small details.
Don’t take unnecessary risks when it comes to your personal information. Visit our Learning Center to find out where and how to find trustworthy lenders!