Key Takeaways About Title Loans in Houston, TX

Houston, the most populous city in Texas, is a place of economic diversity and a host to a wide array of financial situations. Among the various financial services available in the city, title loans often serve as a resort for those who are unbanked or underbanked and need immediate access to money. However, these loans can have potential downsides and understanding them thoroughly is crucial before making a decision.

What Are Title Loans?

Title loans are secured loans where borrowers use their vehicle title as collateral. In exchange for a loan amount, the lender retains the title of the vehicle. If the borrower defaults on the loan, the lender can legally repossess the vehicle and sell it to cover the loan amount.

How Do Title Loans Work in Houston, TX?

Title loans are legal and frequently used in Houston and throughout Texas. To qualify, the borrower must fully own a vehicle with no outstanding liens or loans. The loan amount is usually determined by the vehicle's value, with lenders typically providing anywhere from 25% to 50% of the vehicle's value.To apply for a title loan, borrowers must provide personal information, proof of income, and the vehicle title. Once the loan is approved, the lender retains the vehicle title until the loan is fully repaid. Failure to repay the loan may result in the vehicle being repossessed and sold to recover the outstanding loan balance.

The Downsides of Title Loans in Houston

While title loans can provide immediate financial relief, they carry substantial risks. The primary risk is the potential loss of the vehicle if the loan cannot be repaid. Additionally, title loans often have high interest rates, sometimes reaching up to 291% APR*, which can make the debt difficult to manage.

Sources

  • https://www.yendo.com/compare-yendo

Links of interest

Use your car title to get a credit card today - apply now!

Should You Get a Title Loan in Houston, TX?

Alternatives to Title Loans in Houston, TX

Considering the potential pitfalls associated with title loans, it's worth exploring alternatives:

  • Payday Alternative Loans (PALs): Some credit unions offer PALs, short-term loans with far lower interest rates than title loans. Membership of the credit union is generally a prerequisite to apply.
  • Personal Loans: Despite having a low credit score, some lenders offer personal loans to such individuals. The interest rates may be higher than conventional loans but are generally lower than those of title loans.
  • Credit Counseling: Numerous non-profit credit counseling agencies can provide guidance and resources to help individuals manage their debt and improve their financial health.
  • Peer-to-Peer Lending: This is an alternative where borrowers can seek loans from individual investors or peers online. The interest rates are generally lower, and the loan terms can be more flexible.

What's Yendo?

Yendo is the first credit card that's backed by the value of your car. The card can provide access to credit for those who might not be able to qualify for other credit cards.

It's a real credit card, powered by Mastercard, that provides credit limits from $450 - $10,000, depending on your value of your car amongst other factors, that can provide people with access to ongoing funds. So, rather than having to re-apply for loans, for example, you can access funds up to your credit limit on an ongoing basis and, with responsible usage like on-time payments, build your credit too.

Features & benefits

  • Credit limit - access up to $10k in credit
  • App - the Yendo app lets you manage your account, wherever you are
  • Virtual card - access a portion of your credit limit prior to getting your physical card in the mail with the Yendo virtual card. Use your virtual card in addition to your physical card
  • Cash advances - ability to do cash advances on your card if you need to access money quickly
  • Access to revolving credit – you’ll have a revolving line of credit that opens up as you make payments
  • Credit reporting – all your account activity will be reported to the credit bureaus, giving you the perfect opportunity to build your credit

Getting a credit card with bad credit in HTX

Having bad credit can pose challenges when trying to secure a credit card, but it doesn't render it impossible. In Houston, TX, several options can help individuals with poor credit scores get a credit card and start rebuilding their credit.

Secured Credit Cards

Secured credit cards are an accessible option for those with bad credit. These cards often require an upfront security deposit, sometimes a cash deposit, usually serving as your credit limit. The deposit mitigates the risk for the issuer, which makes it easier for individuals with low credit scores to get approved. Consistent, responsible use of a secured card can help improve your credit score over time.

Credit Cards for Poor Credit

Some credit card companies offer cards specifically designed for those with poor credit. These cards might have higher interest rates and lower credit limits but provide an opportunity to improve credit with responsible use. It's essential to understand the terms thoroughly before accepting such offers.

Store Credit Cards

Store credit cards are sometimes easier to obtain than traditional credit cards. However, they usually have high interest rates and can only be used at the specified retailer. Still, with responsible use, these cards can contribute to improving your credit score.

Co-signer on a Credit Card

If you have someone with good credit who is willing to co-sign a credit card application for you, it can improve your chances of getting approved. The co-signer agrees to take responsibility for the debt if you're unable to pay, reducing the risk for the credit card company. Remember, any defaults or late payments will impact both your and your co-signer's credit score.

Takeaway

Getting a credit card with bad credit might be challenging but it's not impossible. Always be aware of your options and understand the responsibilities that come with them. Once you obtain a credit card, remember that using it responsibly is key to improving your credit score over time. If you're uncertain about what options might be best for you, consider speaking with a trusted financial advisor or a credit counseling agency to guide you in the right direction.

Disclaimer:Yendo is not a provider of financial advice. The material presented on thispage constitutes general consumer information and should not be regarded aslegal, financial, or regulatory guidance. While this content may containreferences to third-party resources or materials, Yendo does not guarantee theaccuracy or endorse these external sources.

Reviews

“Gracias Yendo, por dare la oportunidad de restablecer mi crédito entre otras cosas, estoy encantada con lo fácil que es de usar y por la forma de asequrar mi portal, me da una paz saber que nadie que no este authorized va a poder usarlo, sin contar además del bajo interés a pagar... Sin duda alguna es digno de recomendar!!”

Marina R.

“My experience was excellent. Everyone was kind and helpful. All my questions were answered and the service was very quick. I highly recommend reaching out to Yendo.”

Sherry G.

Producer

“Yendo was a great choice. It was easy to apply and no matter your score you can be approved. Brian reached out over the phone and led me through the application and even made a trip to meet me to get all set up. They report to the credit bureaus. I’m looking forward for my Yendo account to up my score.”

Melissa T.

“You guys, this company is a solution to your debt problems. Instead of getting a car title loan with 300% interest, get a credit card secured by your car title! What a brilliant idea! Just download the
Yendo app and get started today.”

Kathleen B.

Producer

“Awesome monthly payments that are far more reasonable than a lot of title places' low rates, highly recommend Very impressed process was quick and easy definitely wouldn't go anywhere else.”

Wendy R.

"The application process was seamless! And fast! Got approved in minutes and had access to my card via Apple wallet. Card was sent in the mail right away."

Sam A.

“My experience was excellent. Everyone was kind and helpful. All my questions were answered and the service was very quick. I highly recommend reaching out to Yendo.”

Sherry G.

Producer

“Gracias Yendo, por dare la oportunidad de restablecer mi crédito entre otras cosas, estoy encantadacon lo fácil que es de usar y por la forma de asequrar mi portal, me da una paz saber que nadie que noeste authorized va a poder usarlo, sin contar además del bajo interés a pagar... Sin duda alguna esdigno de recomendar!!”

Marina

“Yendo was a great choice. It was easy to apply and no matter your score you can be approved. Brian reached out over the phone and lead me through the application and even made a trip to meet me to get all set up. They report to the credit bureaus. I’m looking forward for my Yendo account to up my score.”

Melissa T.

Reviews

Check our review page for more detailed reviews from our users.

“Gracias Yendo, por dare la oportunidad de restablecer mi crédito entre otras cosas, estoy encantada con lo fácil que es de usar y por la forma de asequrar mi portal, me da una paz saber que nadie que no este authorized va a poder usarlo, sin contar además del bajo interés a pagar... Sin duda alguna es digno de recomendar!!”

Marina R.

Submitted Review*

“My experience was excellent. Everyone was kind and helpful. All my questions were answered and the service was very quick. I highly recommend reaching out to Yendo.”

Sherry G.

Submitted Review*

“Yendo was a great choice. It was easy to apply and no matter your score you can be approved. Brian reached out over the phone and led me through the application and even made a trip to meet me to get all set up. They report to the credit bureaus. I’m looking forward for my Yendo account to up my score.”

Melissa T.

Submitted Review*

“You guys, this company is a solution to your debt problems. Instead of getting a car title loan with 300% interest, get a credit card secured by your car title! What a brilliant idea! Just download the Yendo app and get started today.”

Kathleen B.

Submitted Review*

“Awesome monthly payments that are far more reasonable than a lot of title places' low rates, highly recommend Very impressed process was quick and easy definitely wouldn't go anywhere else.”

Wendy R.

Submitted Review*

"The application process was seamless! And fast! Got approved in minutes and had access to my card via Apple wallet. Card was sent in the mail right away."

Sam A.

Submitted Review*

FAQs

Does Yendo build my credit?
Plus sign

Yes, Yendo helps you build your credit. We report to Experian, Transunion and Equifax credit bureaus.

What will my credit line be?
Plus sign

Yendo Credit Cards have credit limits ranging from $450 up to $10,000. Your credit line depends on the make, model, mileage, and condition of your vehicle in addition to your ability to repay.

How many days do I have to repay?
Plus sign

You have 25 days after the end of your monthly statement to make a payment. You can make payments at anytime, and you will need to make a minimum payment of 5% of your statement balance or $50 (the greater of). We're here to help, so if you do need assistance making your minimum monthly payment, please give us a call.

Can I get approved even if I have bad credit or no credit?
Plus sign

Yes, you can get approved regardless of your credit score! You can get approved as long as you meet Yendo’s other approval criteria. Our mission is to offer affordable credit access to everyone, regardless of their credit score.

How soon can I get my credit card?
Plus sign

Yendo customers can have access to their virtual credit card within 30 minutes of completing the approval process. The virtual card can be used online or with Apple, Google, or Samsung pay. A physical card will be mailed to you and typically arrives in 5-7 days.

If I miss a payment, do I lose my car?
Plus sign

We will always work with you to try to establish a plan that works with your situation. However, as a lienholder, we can exercise our right to recover an outstanding balance, but this is our last option. Keep in mind that with Yendo, your minimum monthly payment can be more affordable compared to other alternatives like title loans.

If I sign up, when and how do I get my title back?
Plus sign

You can get your title back at any time by paying off your balance and giving us a call to close your account. Once we verify that your balance is $0, Yendo will close your account and remove its lien from your title. We will then release the title to you within 10 days of payoff - please note that there may be some situations outside of Yendo's control, such as DMV processing timelines, that could extend this timeframe. Or you can keep your account open with a $0 balance and pay no interest, so you can have continued access to your credit card when or if you wish to use it.

What are my payment terms?
Plus sign

While your official due date is 25 days after receipt of your previous monthly statement, you can pay off all or a portion of your balance in advance at any time. The best part? If you pay your statement balance on or before the due date every month, you’ll pay zero interest on purchases. In the event you don’t pay off your full balance, our minimum payment is 3% of your statement balance or $50, whichever is greater. Please note that penalties, such as late fees, may increase your minimum payment requirement.

What is overlimit?
Plus sign

If your balance exceeds your credit limit, your account is overlimit. You will need to make a payment that brings your balance below your credit limit and make at least a minimum payment to unblock your card.

Title Loans in Houston Alternative | Yendo Credit Card

No credit check for pre-approval

Access up to $10k in revolving credit

Build your credit

HOW IT WORKS

Your Yendo Credit Card is just 3 steps away.

Approval notification on Yendo app
diamond 1

Get pre-approved

Complete our quick and easy pre-approval process online in minutes (don’t worry, we don't check your credit score for pre-approval).

Car driving on road
diamond 2

Access your card

Once your car’s condition is verified and your title is mailed, you’ll instantly receive a digital credit card while we print and ship your physical credit card.

Yendo Credit Card
diamond 3

Build your credit

Access money when you need it, withdraw cash, build your credit, and achieve a stronger financial future.

Reviews

“Gracias Yendo, por dare la oportunidad de restablecer mi crédito entre otras cosas, estoy encantada con lo fácil que es de usar y por la forma de asequrar mi portal, me da una paz saber que nadie que no este authorized va a poder usarlo, sin contar además del bajo interés a pagar... Sin duda alguna es digno de recomendar!!”

Marina R.

“My experience was excellent. Everyone was kind and helpful. All my questions were answered and the service was very quick. I highly recommend reaching out to Yendo.”

Sherry G.

Producer

“Yendo was a great choice. It was easy to apply and no matter your score you can be approved. Brian reached out over the phone and led me through the application and even made a trip to meet me to get all set up. They report to the credit bureaus. I’m looking forward for my Yendo account to up my score.”

Melissa T.

“You guys, this company is a solution to your debt problems. Instead of getting a car title loan with 300% interest, get a credit card secured by your car title! What a brilliant idea! Just download the
Yendo app and get started today.”

Kathleen B.

Producer

“Awesome monthly payments that are far more reasonable than a lot of title places' low rates, highly recommend Very impressed process was quick and easy definitely wouldn't go anywhere else.”

Wendy R.

"The application process was seamless! And fast! Got approved in minutes and had access to my card via Apple wallet. Card was sent in the mail right away."

Sam A.

“My experience was excellent. Everyone was kind and helpful. All my questions were answered and the service was very quick. I highly recommend reaching out to Yendo.”

Sherry G.

Producer

“Gracias Yendo, por dare la oportunidad de restablecer mi crédito entre otras cosas, estoy encantadacon lo fácil que es de usar y por la forma de asequrar mi portal, me da una paz saber que nadie que noeste authorized va a poder usarlo, sin contar además del bajo interés a pagar... Sin duda alguna esdigno de recomendar!!”

Marina

“Yendo was a great choice. It was easy to apply and no matter your score you can be approved. Brian reached out over the phone and lead me through the application and even made a trip to meet me to get all set up. They report to the credit bureaus. I’m looking forward for my Yendo account to up my score.”

Melissa T.

testimonials

What people are saying
about us.

“Gracias Yendo, por dare la oportunidad de restablecer mi crédito entre otras cosas, estoy encantada con lo fácil que es de usar y por la forma de asequrar mi portal, me da una paz saber que nadie que no este authorized va a poder usarlo, sin contar además del bajo interés a pagar... Sin duda alguna es digno de recomendar!!”

Marina R.

“My experience was excellent. Everyone was kind and helpful. All my questions were answered and the service was very quick. I highly recommend reaching out to Yendo.”

Sherry G.

“Yendo was a great choice. It was easy to apply and no matter your score you can be approved. Brian reached out over the phone and led me through the application and even made a trip to meet me to get all set up. They report to the credit bureaus. I’m looking forward for my Yendo account to up my score.”

Melissa T.

“You guys, this company is a solution to your debt problems. Instead of getting a car title loan with 300% interest, get a credit card secured by your car title! What a brilliant idea! Just download the Yendo app and get started today.”

Kathleen B.

Awesome monthly payments that are far more reasonable than a lot of title places' low rates, highly recommend Very impressed process was quick and easy definitely wouldn't go anywhere else.”

Wendy R.

"The application process was seamless! And fast! Got approved in minutes and had access to my card via Apple wallet. Card was sent in the mail right away."

Sam A.

FAQs

How soon can I get my credit card?
Plus sign

Most Yendo customers have access to their virtual credit card within 30 minutes. The virtual card can be used online or with Apple, Google, or Samsung pay. A physical card will be mailed to you and typically arrives in 5-7 days.

If I miss a payment, do I lose my car?
Plus sign

We will always work with you to try to establish a plan that works with your situation. However, as a lienholder, we can exercise our right to recover an outstanding balance, but this is our last option. Keep in mind that with Yendo, your minimum monthly payment can be more affordable compared to other alternatives like title loans.

If I sign up, when and how do I get my title back?
Plus sign

You can get your title back at any time by paying off your balance and giving us a call to close your account. Once we verify that your balance is $0, Yendo will close your account and remove its lien from your title. We will then release the title to you. Or you can keep your account open with a $0 balance and pay no interest, so you can have continued access to your credit card when or if you wish to use it.

What will my credit line be?
Plus sign

Yendo Credit Cards have credit limits ranging from $450 up to $10,000. Your credit limit depends on the make, model, mileage, and condition of your vehicle and your ability to repay.

What are my payment terms?
Plus sign

The Yendo Credit Card provides flexible payment terms. While your official due date is 25 days after receipt of your previous monthly statement, you can pay off all or a portion of your balance in advance at any time. The best part? If you pay your full balance on or before your due date, you pay zero interest. In the event you don’t wish to pay off your full balance, our minimum payment is 5% of your statement balance or $50, whichever is greater. Please note that penalties, such as late fees, may increase your minimum payment requirement.

more about

Houston, Texas

All about Houston Houston, Texas is the largest city in the state, and while it's known to be a bustling metropolis, there are plenty of unique and budget-friendly things to do. From visiting the Menil Collection to exploring the Houston Arboretum and Nature Center, there's something for everyone in this vibrant city. One of the most popular activities in Houston is visiting the Menil Collection. This museum is home to a variety of art collections, spanning the 15th century to modern-day. Admission is free, making it a budget-friendly option. For some outdoor adventure, visit the Houston Arboretum and Nature Center. This nature center is a great spot for hiking, with plenty of scenic views along the way. Admission is free, making it a budget-friendly option for some exercise and fresh air. Demographics: Houston has a diverse population, with a mix of different ethnicities and cultures. According to the U.S. Census Bureau, the population of Houston was estimated to be over 2.3 million in 2020, with a median age of 33.8 years. The city has a large Hispanic population, making up over 44% of the total population. African Americans, Asians, and Whites make up 22%, 7%, and 25% of the population, respectively. Economy: Houston's economy is driven by several industries, including energy, healthcare, aerospace, and manufacturing. The city is home to many Fortune 500 companies, including ConocoPhillips, Phillips 66, and Sysco. The Port of Houston is one of the busiest ports in the world and is a major contributor to the city's economy. The Houston metropolitan area has a gross domestic product (GDP) of over $600 billion, making it the fifth-largest metropolitan economy in the United States. Overall, Houston has something for everyone, and there are plenty of unique and budget-friendly options to enjoy. So the next time you're in town, be sure to check out these activities and more. In addition to all these budget-friendly options, using the Yendo Vehicle Secured Credit Card is a great way to build your credit while exploring all that Houston has to offer. If you're looking for a credit card in Houston, we're a great option since we accept all credit scores, don't do a credit check, so we won't hurt it when you apply and can provide you with access to the money you need. Yendo is a real credit card, powered by Mastercard, that's secured with the title of your car. We're transforming the way people access the financial system, to help you when you need it. With responsible usage, on-time payments for example, not only will you have access to the money you might need now, but you'll build your credit score just as with any other credit card. That score can help you get better rates on a house, an apartment or a car and more. There are several reasons why getting a title loan may not be the best financial decision, including: 1. High interest rates: Title loans often have very high interest rates, sometimes exceeding 300% APR (annual percentage rate) - https://www.yendo.com/compare-yendo. This makes them significantly more expensive than other forms of financing, such as personal loans or credit cards. 2. Short repayment terms: Title loans usually can have short repayment terms. This could result in borrowers struggling to repay the loan within the given timeframe, leading to a cycle of debt as they renew or extend the loan. 3. Risk of losing your vehicle: A title loan requires you to use your vehicle title as collateral, which means that if you default on the loan, the lender can repossess and sell your car to recover the debt. 4. Cycle of debt: Due to the high interest rates and at times short repayment terms, many borrowers can find themselves unable to repay the loan in full and are forced to roll over or renew the loan, incurring additional fees and interest. This can lead to a cycle of debt that becomes increasingly difficult to escape. 5. Limited availability: Title loans are not available in all states, as some have banned or heavily regulated them due to the high interest rates and risky nature of the loans. 6. Predatory lending practices: Some title loan lenders engage in predatory lending practices, including offering loans to borrowers who cannot afford to repay them. This can exacerbate financial difficulties for the borrower and increase the likelihood of default. Before considering a title loan, it's essential to explore other financial options, such as personal loans, credit cards, or borrowing from friends and family. If you're facing a financial emergency, consider seeking help from a credit counselor or non-profit financial assistance organization to discuss your options and develop a plan to manage your financial situation.

CITIES

Your new secured credit card is in sight.

Access up to $10,000 in credit with Yendo.

get started