What the FTC says: if you never applied for a loan, a text saying you're "preapproved" is not from a real lender. Delete it — don't reply, don't click.
How the fake loan text works
Step 1
The specific amount
A round, appealing figure like "$10,000" makes the offer feel concrete rather than generic spam.
Step 2
The false urgency
"This is the last step" or "reply YES to confirm" pushes you to act before thinking it through.
Step 3
The "application"
The link opens a form asking for your Social Security number "to verify identity" and bank details "to deposit funds."
Step 4
The theft
No loan is ever funded — your information goes straight to identity thieves, or the link installs malware.
How to spot it
- A loan offer for an application you never submitted.
- A request for your Social Security number via text or a linked form — no legitimate lender does this by text.
- Urgency language: "last step," "expires today," or a request to reply "YES" to confirm you're a real, responsive number.
What to do if you get this text
- Don't reply, don't click, don't confirm anything.
- Delete the message.
- Report it: forward to 7726 (SPAM) and file a report at ReportFraud.ftc.gov.
- If you already shared information, contact your bank and visit IdentityTheft.gov for recovery steps.
Egidio: your automatic phishing detector
This scam works because the dollar amount feels specific and real. Egidio catches the fake application link before it can do anything.
Egidio screens incoming calls and scans links arriving through your messaging apps in real time and blocks fake loan or identity-verification pages the moment they're recognised.
Install Egidio