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Comment by lpolovets | Hacker News Reader

LendUp's CEO posted a response here: https://library.gv.com/google-is-right-to-ban-short-term-loa...

In conjunction with ex CTO of Zynga, who say they are not a gambling company.

blah blah blah, filled with mistruths too

   If your score is below 680 and you don’t already have a “respectable” credit 
   line, there are few paths for you to get ahead.

That's cap1's core customer base, and they report to all 3 CRAs and will allow you to move up in quality in their cards then transition to prime lenders.

And considering that you can get an FHA approved mortgage with a less than 5% APR (including PMI) with a 600 credit score, I can't help but agree.

You said it right there though. FHA approved which means Uncle Sam (who has a decent credit rating and the ability to print US Dollars) has your back AND it's considered a secured loan since the house itself is collateral.

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