Can I pay back early or make extra payments?
Yes, you can repay any amount at any time, in full or in part, and there’s no penalty for doing so. The more you pay and the sooner you pay it, the less interest you’ll be charged overall. You can make a one-off payment at any time through the Cred app.
Please be careful not to pay more than your outstanding balance, as this would create a credit balance on your account, if that happens, we’ll return it to your bank account, but we won’t pay interest on it.
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How much do I need to pay back each month?
Each month we’ll send you a statement showing your minimum payment and the date it’s due. Your minimum payment is made up of: any overdue amounts from previous months (always cleared first) any instalment plan payments due that month for plans of 12 ...
How do I access my Cred account?
Everything is managed through the Cred app. From the app you can: check your available credit and current balance make drawdowns set up and manage instalment plans make payments view your monthly statements and access a copy of your credit agreement. ...
How do I set up a repayment method?
You’ll need at least one automatic repayment method in place to cover your monthly payments. We currently support three options: A Direct Debit is a standard instruction to your bank to pay us each month, and it’s protected by the Direct Debit ...
How do I read my monthly statement?
We send you a statement every month to your Cred app, and you’ll receive a push notification and email when it’s ready. Your statement shows your previous balance, all drawdowns and payments made during the month, your current outstanding balance, ...
What do I do if I want to close my Cred account?
If you’d like to close your account after the 14-day cooling-off period, please get in touch with us by phone or email. To close your account you’ll need to repay your full outstanding balance, including any interest accrued up to the date of ...