- study for drug test on Monday
- finish Pay Day Loan sheet below
- Talk to parents not to get Pay Day Loans and don't tell anyone their birthday and SIN number
- memorize your SIN number
7B Payday Loans
The worst of them all for interest charges: Pay Day Loans (Money Marts, 24cash, Loadridge)
- Google “Ontario pay day loans” and you will get a list of companies that offer this service
- - use the table below and find the missing information for four of these companies
Name of company | Money Mart | Cash Money | ||
How much can you borrow? | $1500 max | |||
How long is the online application process? (mins) | A few minutes | |||
Can you apply if you don’t have a job? | Yes | |||
Can you apply if you have bad credit history? | Yes | |||
How much interest do they charge? (%) | 792% |
Kwok’s note: Very important
- the bank, credit card companies, the governments always use two of your ID to identify you
- Your birthday and your Social Insurance Number (SIN)
- NEVER share this information online or tell others about your SIN number on the phone
- if you share your birthday and SIN with a stranger, s/he can apply for loans, credit cards and everything else. He will be YOU
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