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If I was 18 and didnt have any credit, but I could get approved, I would use this as a credit builder. I would have jumped on it when I was younger. Something small that you could make payments on and even at 17 percent interest.. whats that, a few hundred bucks total. Not a big deal in the big picture. Build your credit up for bigger purchases a few years later. Car, home, etc etc. I think this is a good idea for some, and terrible for others.
I think the main reason the interest is so high is that considered against other things financed it's kinda small and they wanna make as much off of who ever as possible
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I highly doubt a 700 will get you the worst interest rate. If thats the case, no one will get approved with less then close to that 700 figure. I bet he told his buddy he had a 700 and in reality it was a 580 or 600. I know I wouldnt tell my buddies my score was 600 if it actually was that..... just saying..
Heck, ok, I'll brag a bit. A fellow member sold me his mint condition DDM4V7, with upgraded pistol grip, with a Gunfighter charging handle, with Magpul front and rear BUIS, with SIX usgi mags, a compete well stocked cleaning kit, with two Daniel Defense hats, for .... $1000 even.
Score!
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