Bluewave Loans Review: Legit or Scam
Bluewave Loans is not a lender or broker. They won’t give you any loans. What they do is get your personal and banking information by making you fill in fields on their website, and then they share your information with their partners (Lenders, advertisers, networks, and debt-settlement companies).
Bluewave loans advertise on their website that you can get loans up to $10,000. On their website, it’s simplified into three steps:
- Request Funds: Anywhere, anytime, with any device
- Get Results: Receive an approval decision from our network quickly
- Breathe Easy: With funds in your account as soon as the next business day upon lender approval, you can get moving on your big plans
But let’s dive deeper to see if it’s really that easy to get a $10,000 loan from Bluewave loans
Is Bluewave Loans Legit or a Scam?
First of all, let’s take a deep into what will be requested of you when applying for a bluewave loan.
Purpose of the Loan.
You need to let them know the purpose of the loan when applying for a bluewave loan.
Zip Code
Not surprising, but you’ll also be asked to provide your US 5 digit zip code
How much money you would like
You’ll also be requested to put in the amount of money you would like. This is between $100 and $10,000.
Credit Rating
It’s typically in ranges e.g Poor (549 or lower). You’ll be required to fill this in too. Note that you don’t necessarily need to know the exact credit score.
Personal Information
In this section, you’ll be required to provide the following information
- Street Address
- Home Ownership
- ID/Driver’s License
- Best Contact Time
- Length at Address
- Car Ownership
- License state
Job and Pay Information
In this section, you’ll be asked to fill in the following information
- Work Phone
- Job Title
- Time Employed
- Next Pay Date
- Income Source
- Employer Name
- Pay Frequency
- Actively Military?
Banking Information
This section is actually weird. They request the following information from you:
- Monthly net income
- ABA/Routing Number
- Account Type
- Bank Name
- Direct Deopsit?
- Account Number
- Months at Bank
- Social Security Number
The information seems like a lot in my opinion
After submitting all the details, it takes about 5 minutes and you get redirected to a completely different website with an “Offer found” message.
The website you get redirected to usually charges very high interest rates.
In summary, Bluewave loans is not a lender or broker and does not offer any loans. They only submit your information to a network of lenders.
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