Are there limits how often I can draw money?
You can make up to 2 drawdowns per day, and each drawdown must be for a minimum of £50. You can only draw an amount up to your available credit limit. Outside of those limits, there is no monthly or annual cap on the number of times you can borrow, as long as your account is in good standing.
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How long does it take me to receive funds?
Once you’ve been approved for credit and confirmed a drawdown in the Cred app, the money is sent to your bank account via Faster Payments and typically arrives in minutes. Occasionally it may take a little longer depending on your bank — once the ...
Do Cred charge any fees?
We charge interest on money that you borrow however we do not charge any fees including late payment fees or any other fees. Cred will never ask for any type of advanced fee in exchange for a loan or credit account.
Is Cred a credit card?
Yes, you can transfer funds from your Cred account to your current account to make purchases as you would with a money transfer credit card. Digital credit card functionality to make contactless and online purchases will become available soon for ...
What is Cred flexible credit and how does it work?
Cred is a regulated revolving credit facility, managed entirely through the Cred app. Before your account is opened, we carry out a creditworthiness and affordability assessment. If approved, you are allocated a pre-agreed credit limit. This is the ...