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OK, so work the other way. What's the MPR (Monthly Percentage Rate)? If I'm using their lowest rate option and borrowing $250 for 6 months, I get an MPR of ab
by jtbigwoo 16y ago
OK, so work the other way. What's the MPR (Monthly Percentage Rate)? If I'm using their lowest rate option and borrowing $250 for 6 months, I get an MPR of about 20% If I count the origination fee of $75, I get just under 25%. In contrast, my moderately high credit card which also lets me take short-term loans charges about 1.5% MPR. Is ZestCash really worth 13 times more? Are they taking on 13 times the risk?
You can play with the terms as much as you like. ZestCash is a rip-off compared to any other option.