Will Cred ever charge me extra fees?
There’s no fee for opening your account, setting up an instalment plan, or repaying early.
If you miss payments and we need to take enforcement action to recover what’s owed, we may charge reasonable costs such as court costs, tracing costs or third-party collection costs. These charges only arise in serious arrears situations — getting in touch with us early if you’re struggling is always the best way to avoid things reaching that point.
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Who are Cred?
Cred is a direct lender offering responsible credit directly to UK consumers. You can easily access our mobile app on the App Store or Google Play Store, or simply visit our website for quick access to download links Cred offers customers a flexible ...
Will you carry out a credit search?
As a responsible lender, Cred will always carry out a credit search. A credit search will be performed when you submit an application for a Cred account which will leave a “hard footprint” on your credit report. Checking your eligibility for Cred ...
Is Cred regulated?
Yes. Cred Originations Limited is authorised and regulated by the Financial Conduct Authority (FCA) under registration number 688840. Your credit agreement is covered by the Consumer Credit Act 1974, which gives you important rights, including a ...
What happens if I take out Cred flexible credit and change my mind after?
You have 14 days from the day after you receive confirmation of your initial credit limit to tell the Cred team that you want to withdraw from the agreement. Confirmation of the initial credit limit will be emailed to you when your application has ...
Can Cred change my interest rate?
Yes, we can change your interest rate, but we’ll always give you at least 30 days’ written notice before doing so (if we’re reducing your rate, we may give shorter notice). We’d only make this kind of change for specific reasons — for example, to ...