{"id":35050,"date":"2016-11-20T23:47:44","date_gmt":"2016-11-20T16:47:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-score-catch-22-pushes-millennials-towards-payday-loans\/"},"modified":"2016-11-20T23:59:30","modified_gmt":"2016-11-20T16:59:30","slug":"credit-score-catch-22-pushes-millennials-towards-payday-loans","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-score-catch-22-pushes-millennials-towards-payday-loans\/","title":{"rendered":"Credit score 'catch-22 pushes millennials towards payday loans'"},"content":{"rendered":"


\nStudy finds lack of track record rules out cheap credit and drives them to high-cost loans, which in turn lowers scores furtherMillennials are missing out on the boom in cheap credit and using expensive payday loans, because poor credit scores lock them out of the best deals.Borrowers born between 1982 and 2004 are typically paying a higher rate on loans and credit cards than those born earlier, according to analysis of more than 150,000 credit files. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Credit score ‘catch-22 pushes millennials towards payday loans’<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Study finds lack of track record rules out cheap credit and drives them to high-cost...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-35050","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-97k","jetpack-related-posts":[{"id":83639,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/payday-loans-are-bad-for-your-mental-health\/","url_meta":{"origin":35050,"position":0},"title":"Payday loans are bad for your mental health","date":"March 24, 2018","format":false,"excerpt":"\r Form of credit has been identified as the unhealthiest for mental well-being by a public health groupVicky Shaw Payday loans have been identified in a new report as the \u201cunhealthiest\u201d form of credit, with unauthorised overdrafts coming second. Continue reading...\r \r Source : theguardian.com\r Read more...Payday loans are bad\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55675,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-union-for-retail-workers-aims-to-fend-off-payday-lenders\/","url_meta":{"origin":35050,"position":1},"title":"Credit union for retail workers aims to fend off payday lenders","date":"May 23, 2017","format":false,"excerpt":"\r The retailCURe credit union is backed by several large high street stores and offers loans and savings productsJohn Lewis and Debenhams are among the high street names backing a new credit union for the retail sector, officially launching today, which aims to help shop workers \u201cavoid the clutches\u201d of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3997,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/forget-payday-lenders-theres-a-much-better-way-to-borrow\/","url_meta":{"origin":35050,"position":2},"title":"Forget payday lenders \u2013 there\u2019s a much better way to borrow","date":"October 24, 2015","format":false,"excerpt":"\r Lack of access to mainstream funds drives many to find loans at extortionate rates but there is a viable alternative. And savers can benefit tooWonga charges an APR of 1,509%, QuickQuid 1,270%, while doorstep seller Provident -Financial quotes 1,068%. Yet there is an alternative source of loans for hard-pressed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85256,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wonga-2-0-meet-the-new-breed-of-payday-lenders\/","url_meta":{"origin":35050,"position":3},"title":"Wonga 2.0? Meet the new breed\u00a0of payday lenders","date":"April 14, 2018","format":false,"excerpt":"\r A new wave of credit firms is offering \u2018medium-term\u2019 loans at hefty APRs of up\u00a0to 1,421% The worst of the payday lenders, famed for offering short-term loans at sky-high interest rates, may have faded away, but vulnerable consumers are still being targeted with offers of loans with four-figure APRs.The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33613,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cash-converters-to-refund-10m-in-unfair-payday-loans-after-asic-ruling\/","url_meta":{"origin":35050,"position":4},"title":"Cash Converters to refund $10m in unfair payday loans after Asic ruling","date":"November 9, 2016","format":false,"excerpt":"\r Australian Securities and Investments Commission says loan terms amounted to breaches of National Credit ActCash Converters will refund Australian consumers more than $10m in unfair payday lending after a major investigation by Australia\u2019s corporate watchdog found it failed to meet responsible lending obligations.The lending group has also been forced\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":89852,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/complaints-about-high-cost-credit-climb-to-record-level\/","url_meta":{"origin":35050,"position":5},"title":"Complaints about high-cost credit climb to record level","date":"May 29, 2018","format":false,"excerpt":"\r Complaints to ombudsman rise by 40%, with more than half relating to payday loansComplaints about high-cost credit have soared to a record level, raising concerns about how lenders treat vulnerable consumers. In 2017-18, the number of complaints about consumer credit rose by 40% to just over 36,300, according to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/35050"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=35050"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/35050\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=35050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=35050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=35050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}