General
How is interest calculated on my Cred account?
Interest starts being charged the day after you borrow money and continues until you’ve repaid it in full. We calculate it on your daily balance and apply it to your account each month when your statement is produced. The same interest rate applies ...
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 ...
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 ...
How much can I borrow?
Cred offers credit limits between £1,000 and £10,000. The limit we offer you is determined following a creditworthiness and affordability assessment at the time of your application, which includes a credit search carried out by TransUnion. We will ...
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 ...
Can I use Cred like a personal loan?
Yes. When you apply for Cred as a personal loan, the full amount you have requested is paid directly into your bank account immediately upon approval. A fixed amount repayment schedule is set up at the outset, so you'll know exactly what you'll repay ...
How do I raise a complaint?
To look at our complaints policy please click here. This will take you to our complaints page where you can tell us how you think we can improve. You can make a complaint in several ways. Raise complaint directly with us via raising a service ticket ...
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 ...
How do you use the information I give you?
The information you provide on your application helps us to make responsible lending decisions. Details of how we use your information after this are available in our Privacy Policy.
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 ...
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 ...