Nowadays, most people, whether college students or workers out of society, pay attention to pleasure, blindly compare with others, and lack frugality consciousness. Wrong consumption concepts such as ahead consumption, over consumption and wrong consumption are also very popular among young people. When personal income can't support these ideas, many people will want to apply for online loans. There are too many online loans at present. How do applicants prevent bad online loans?

How to prevent bad online loans?

1 Check whether it is a regular loan.

Formal lending institutions are evaluated according to the comprehensive credit status of users. When applying, users not only need to provide identification and running water, but also check whether users have good credit records and repayment ability. If there is no review process for the loan products currently handled by users, then users need to pay attention, because the loan platform is deceptive in nine cases out of ten.

2 Check online loan interest

The interest of most online loan products will not exceed the scope prescribed by law, and those that exceed the scope prescribed by law are called usury. It is best not to touch such loan products, otherwise once the capital chain breaks, it will lead to overdue, thus facing high liquidated damages, which is difficult for users to pay off.

Only ID cards can be used for loans.

Now there are many platforms flaunting the market with such slogans, but we have to remember that no matter what loan products, it is impossible to pay with only one ID card. If the platform repeatedly assures users, then most of them are liar platforms. Don't believe it, otherwise you will not only fail to apply for a loan, but also disclose your personal information.

4 Pre-loan charges

Regular lending institutions will not charge users before lending, unless they are swindlers, they usually use users' anxious psychology to defraud them of their money, so they will find excuses to ask users to pay fees many times before lending. Therefore, when users apply for loans, if they require payment before lending, then it is best not to apply.

With the rapid development of Internet finance, many online lending platforms came into being. Compared with bank loans, online loans have the characteristics of no mortgage, convenient operation and quick receipt. At the same time, some peer-to-peer loans are accompanied by privacy violations, violent collection and other issues, which are likely to lead to illegal self-harm, and need to be highly valued.