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 funds leave us, your bank is responsible for applying them to your account. If the money hasn’t arrived after a few hours and you’re worried, please get in touch with us.
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Can I change or cancel my instalment plan?
Yes. You can adjust the term of an existing plan at any time, as long as the total duration doesn’t exceed 48 months from when the plan was originally created and it doesn’t reduce to fewer than 3 remaining instalments. You can also cancel a plan as ...
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, ...
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 ...
How do I set up an instalment plan?
You can set up an instalment plan at the time of making a drawdown in the Cred app, or at any point afterwards for all or part of your existing balance. The minimum qualifying amount is £50. When setting up a plan, you choose either how many months ...
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 ...