Reviews by tengl984

This review is for Fundo Loans, Wentworthville NSW

verified email - 27 Sep 2023

Title: "Beware: 'No Credit Check Loan' Might Not Mean What You Think!"

Review:

I recently applied for a "No Credit Check Loan" through Fundo Loan, drawn by their website headlines and search results. As the product name suggests, I was under the impression that my credit wouldn't be checked. However, just a day after applying, I found that they performed a hard search on my credit file, causing my credit score to drop by 60 points instantly.

When I approached Fundo Loan about this, they mentioned that while they do advertise "No Credit Check loans", they retain the right to perform a credit check. This key detail, in my opinion, was not made explicitly clear, especially given the product's name.

From my research, I've noticed I'm not alone in this experience. Several others seem to have faced the same unexpected credit check after applying for this particular loan product.

While Fundo Loan has agreed to remove the inquiry from my credit report as a goodwill gesture, the whole situation was stressful and misleading. I urge potential customers to read all the terms carefully and perhaps even directly ask Fundo Loan about their practices before applying. The product name, in this case, may not represent the actual process.

Dont let this kind of tricky and heartless business get away, they sent me an email saying i learned a lesson by not reading the contract properly, they need to have some sort of consequences.