Sunday 10 August 2014

Best Short Term Loans UK: Review 9 of 16: Quick Quid Flex Credit

This Post is the Ninth Installment in the 16 Part Mini Series where I look at the best short term loans in the UK. One frequent question I get asked by the Millionaires Giving Money readers in the UK is what is the best short term loan? And, what is the most reputable payday loan companies in Britain? After replying to a number of these emails I decided to write a series of posts reviewing the 16 best short-term-loans in the UK. I will be looking at short term credit companies, pay day loan companies as well as guarantor and logbook loan companies. In this the ninth review I will be looking at QuickQuid FlexCredit which is the flexible arm of Quick Quid which offers loose short term credit facilities.

Important Notice: Before anyone decides to take out a payday loan it’s really important to bear in mind the consequences of missing these payments as you could get into financial despair. When you miss a payment some short term loan and payday loan companies may decide to extend the loan. This means that you will have to pay more interest and extension charges. Also when you miss a payment your credit score will fall and this missed payment will be reflected on your credit file. While this might not seem like a big issue at the moment your financial choices will be limited if your credit history goes down south. Finally failure to repay or refusal to repay your short term loan or pay day loan will lead to collectors getting involved to recover the money. Now, Without further ADO! Here is the review of Quick Quid Flex Credit.

Review 9: Best Short Term Loans UK: Quick Quid Flex Credit

Quick Quid Flex Credit offers credit facilities and short term loans to customers with less than perfect credit scores. The application process is very simple. You only need to click on the ‘Apply Now’ button and start the one time application form when you are a new customer.

Once the application has been received Quick Quid Flex Credit requires 30 minutes to assess the application. Several factors are taken into consideration such as income, expenses, credit score, and affordability. If you are approved you can choose the amount you wish to borrow which is limited to £1000. You have a maximum term of 10 months. As of writing this review there is a promotional code I wanted to share with the readers of Millionaires Giving Money. Use promo code MONEY30 so save 30% on loan fees. A 30% saving is significant when it comes to short term loans so it’s worth using the code before it expires.

Quick Quid Flex Credit has a very convenient Direct Debit payment system where the repayment amount is automatically transferred on the due date. You do not need to worry about making the payment and all you need to concern yourself with is making sure the repayment amount is in your bank account.

To apply for a Quick Quid Flex Credit short term pay day loan there are some simple requirements that must be met. You must have a Valid UK Bank Account at you must be at least 18 years of age. You must also be employed and receive a regular paycheque either weekly or month and you must be a resident of the United Kingdom.

Example of Quick Quid Flex Credit Short Term Loans

The typical representative APR on a Quick Quid Flex Credit loan is 1,362. You can borrow anything between £100 and £1000 and there is a maximum term of 10 months to repay the loan. You can use promo code MONEY30 to save 30% of your initial loan fees. If you were to borrow £100 over 30 days you would need to repay a total of 123.49 on the 30th day which would be your pay day.

The APR representative which is 1,362% is worked out as follows. If you borrow £1200 over 10 months at a rate of 300% P.A Fixed you will repay £2381.34.

Is Quick Quid Flex Credit the Best Short Term Loans in the UK

Quick Quid is one of the best short term loan companies in the UK. Not only does this company strive to give you the best short term loan deal it also strives to offer financial resources so you can manage your money properly. The loan APR representative is also very competitive and it is only beaten by Sunny Short Term Loans. At the time of writing this post there is a 30% discount off initial fees which lowers the cost of borrowing. Quick Quid Flex Credit is definitely worth considering if you have bad credit and need a competitive short term loan to tide you over until payday.

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