Green Touch Review

Green Touch says that you will receive high quality customer care if you go with them. When you get down to brass tacks money is money, and every lender out there has the same product. What you’re really looking for is someone that will make the process go smoothly.

They say they have great rates, but by this time you hopefully know you’re not going to get anything resembling a great rate from anyone marketing themselves as a payday lender. On the same page they also say that their lenders are going to provide you with a loan that as an APR ranging from 261% to 1306% so there’s just no way that these can be described as great rates. These lenders always try to offset the stark contrast of their APR to APRs you get from banks by saying that they’re low dollar short term loans which is why the annual rate is so high. High is high, and you’re still getting raked over the coals.

They also say that the money can be used to help out in an emergency situation. Let’s explore this a bit, shall we. An emergency financial situation would have to be labeled a short term problem, since if it was long term it wouldn’t be an emergency. So let’s say that a loan like this could land you $500, and that this $500 would mean the difference between the problem being fixed or not in the moment. But when the $500 is due back, and you don’t have it, guess what? That temporary emergency just got dragged into the future by another two weeks when you take out the money again. Sometimes it’s better to just let the dust settle and pick up the pieces rather than let things drag on week after week and month after month.

Green Touch Review – Info Provided

Green Touch says that there are $5B dollars loaned through payday loans each year, but that doesn’t really mean anything, other than payday lenders are getting massively rich off of those that are struggling to make ends meet. They also point out that just 3.5% of households have used payday loans, which just means that that staggering $5B figure from earlier comes from the same households again and again. It’s not widespread use of payday loans that keeps lenders so wealthy, it’s the repeat use by the same people again and again, which is why it’s called the payday loan trap.

Demographics of Payday Loans

demograph-peopleThey have other statistics that show the demographics of who uses payday loans the most. It’s unknown what sort of point they’re trying to make by providing this information, because all it does is paint a picture of the average payday user. Either this person looks like you, or you fall outside of the usual suspect, but either way it’s probably not going to affect your decision to take out a loan or not.

Not a Secure Application

When you arrive at their homepage they ask you to fill out your name and address to reach the application page. Their homepage is not secure and their application page isn’t secure either. Major deal breaker, and we’d suggest going with another site on this feature alone. There’s just no reason to have an insecure web page these days, because it’s not expensive or complicated for the owner of the site to have encryption added to an important page that asks you for your banking details.

Our Recommendation

Green Touch doesn’t do much for you as the borrower, and with their insecure application page we’re suggesting that you take a pass on this one and fill out an application at a site that is secure. The information they provide is enlightening, and it may talk you out of taking out a payday loan altogether, which would be the best thing that could happen to you in most cases. Unless you have the perfect case to take out a payday loan, you should try to avoid it at all costs. It will likely only bring you down financially, as you try to pay it off but need to take it out over and over again.