No, absolutely not! Pay day lenders justify charging exorbitant rates of interest to people who generally have a poor credit history by considering them a ‘risk’. Our lenders are not interested in your credit history but in your ability to make the repayments on the loan. By including a guarantor on your application the lender knows that the risk of defaulting on the payments is greatly reduced and are able to offer a much lower rate of interest as a result. They are trusting that you and you backer are financially willing and able to repay the loan.