CreditCube Review – What To Know Before Borrowing

If you are in dire need of cash, a payday loan can be a good option. However, you need to opt for a lender that can give you money without any fuss. If you are seeking a tribal payday loan, then CreditCube is a company worth considering. In the course of this article, we will be reviewing the CreditCube lending company to determine whether they are legit or not. Here we go;

What Is a Tribal Loan?

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We stated earlier that CreditCube offers a tribal payday loan. Most of us don’t know what this means, so let us expound on it. A tribal payday loan is a type of payday loan that falls under the regulations of the reservations and federal regulations rather than the financial laws of any specific state in the USA. A tribal payday loan is a type of loan that has no robust state laws put in place to protect customers. This is why they appear dangerous for borrowers. In light of this, CreditCube is a fintech company in the USA that offers Tribal payday loans. It is important to note that Tribal payday loans have a higher interest rate as the state-controlled interest rates do not apply to them.

What Is The Major Difference Between A Payday Loan And A Tribal Loan?

It is important to note that as Tribal loans are not controlled by state laws of the USA, their interest rates can exceed 700% much higher than normal payday loans. This is why Tribal loans are riskier than payday loans. This is why other financial tasks such as loan refinancing can be difficult. In the USA, it is also important to note that some states deem conventional payday loans to be illegal due to how predatory their practices can be.

What Is A CreditCube Tribal Loan?

CreditCube is a tribal lender in the USA that gives high and small-interest loans to individuals. They are designed to offer monetary relief to an individual with an unexpected financial emergency. It is important to note that this tribal lender offers a quick online application process that allows the borrower to receive their funds as early as the next day. The big bonus is that CreditCube allows borrowers to pay back their loan after a few months instead of when they get their next paycheck.
A normal credit APR can be a maximum of 36%, put on an astronomical scale, the APR of CreditCube ranges from 159.90% to 779.97%.
If you wish to be a beneficiary of a lower-end interest rate for a returning borrower, you need to be part of the CreditCube Loyalty Program. As a practical example, if you borrow a $300 loan, your APR can be dropped off from 779.90% to 259.94%. Some of the states in the USA that CreditCube does not offer its lending services include; West Virginia, Vermont, New York, Pennsylvania, and Minnesota.

Is CreditCube A Reputable Lending Company?

As a borrower, it is important that you do your homework before delving into lending options with CreditCube. If you check the customer reviews of CreditCube on BBB (Better Business Bureau), you will find out that they have a 3.58/5 rating. This rating gives the company a bad reputation as a tribal lender in the USA.
It is important to note that CreditCube is not accredited with the BBB, and has a B-rating.
One of the reasons why CreditCube does not respond to complaints of customers is that it stated in its policies that they will resolve a settlement privately with the individual that is making the complaint.

Practical Guide On How To Apply For A CreditCube Tribal Loan

The procedure for applying for a CreditCube loan takes just a few minutes. Here is a stepwise procedure that you can follow to apply for a CreditCube Tribal loan:

  • Go to the homepage of the official website of CreditCube and create an account with your email and password
  • Key in your residential address, phone number, and driver’s license number.
  • Provide your correct employee information such as your; location, name, and phone number
  • Provide the accurate value of your monthly income.
  • Provide details of when you receive your paycheck so that they can sync up with your repayment dates
  • Provide your bank account number and routing number
  • Finally key in your social security number and the loan amount of your choosing.

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What To Expect After Taking A CreditCube Tribal Loan?

When you incur a tribal loan from CreditCube you will enjoy the benefit of a quick approval process. They also offer fast payment as their payment comes in the next day after the application of the tribal loan. This is why it is a good option for persons with a small financial emergency.
On the flip side, their interest rates are astronomically high, as a 300 dollar loan might cost you a 779.90% interest rate. Also worth noting is that borrowers that incur a tribal payday loan are not protected by state laws in the USA.

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