RISE credit wants to offer another me another loan. The "IMPORTANT DISCLOSURES" says:
The APR for an example installment loan of $2,600 is 224.36% with 36 bi-weekly payments of $236.37... The loan agreement and, for Texas and Ohio residents, the credit services contract you must sign in order to accept this offer, contains an arbitration provision that may limit your legal rights, including your right to go to court, to have a jury trial and to participate in class actions."
The provisions about limiting your rights should be a big warning sign about whose interests they are really trying to protect. What does it say when companies are able to make a living with these kinds of "products"? It means there are actually people out there who go for these kinds of deals. Maybe some people can't tell when something is practically usury. Maybe it says more about my credit rating when I get these kinds of offers in the mail.
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