Polar Credit Loans | www.polarcredit.co.uk Reviews

Polar Credit Loans

About Polar Credit Loans

The Polar Credit loans project arises from Apfin Ltd who have been operating since 2012 as Cash Asap. This fresh brand that was unveiled in summer 2019 is a welcome addition to the industry, becoming the 4th credit line facility. As a revolving facility you can access funds from a determined limit 24/7. Unlike Asap, it is however prime targeted as suggested by the competitive pricing. This isn’t surprising as Lending Stream did this with Drafty and SafetyNet did this with Tappily. The Polar Credit loans limit will be determined between the range of £200 and £2000. There is no set term. You can repay what you want so long as the minimum payment is met (£10 or 5%).

From your limit you must borrow at least £25 each time. It’s better to do this just once as each request takes on a transfer fee. Pricing is competitive, yet a little confusing as they display different variable rates across pages. Based on the 60.23% example, you’d pay for £100 borrowed £2.80 (7d) or £6.60 (30d). For £300, the cost is £50.12 (3m) and £95.29 (6m). The prices always include a 1.65% transaction fee. There is Polar Credit promo code button, but no such active code. Initial market growth has been slow, but launching throughout the pandemic was always going to be tricky. They have started picking up support on Trustpilot that is a good to see.

Company Details

Address: 3rd Floor, 12 Gough Square, London, EC4A 3DW

Brand: Polar Credit (aka: PolarCredit)

Company: Apfin Ltd

Contact (📧): info@polarcredit.co.uk

Contact (☎): 0800 612 7188

FCA Licence: 673186

Launched: 2019

Niche: Credit line, payday, instalment, personal

Opening Hours: Mon/Fri (9am-5pm), Sat (11am-5pm), Sun (11.30am-4.30pm)

Related Brands: Cash Asap

Site Address: www.polarcredit.co.uk

Site Rank (Alexa.com Global): #8,648,715

Product Specs

Amounts Available: £200 to £2000

Late Payment Fee: £10

Login Provided: Yes

Pricing: £6.60 /£100 (1m) & £50.12 /£300 (3m) & £95.29 /£300 (6m)

*Variable interest charged based on determined risk

Repayment Terms: 1 day to 12 months+ (any day between)

Review Feedback

Feefo: Not listed

Reviews: Not listed

Trustpilot: 88% (90+ count)

Rivals & Similar Lenders Like Polar Credit

The 2 obvious rivals and best matched alternatives are Drafty and Tappily. If we take Drafty’s costs you’d be looking at £5.40 /£100 (1m) & £48.60 /£300 (3m) or £97.20 (6m) whilst Tappily’s would be £10.20 /£100 (1m) & £91.80 /£300 (3m) or £183.60 (6m). Drafty’s prices are very similar to Polar’s and they are certainly the main threat especially as they have now turned to TV advertising. Obviously, the chances of qualifying with bad credit are slim across either of the noted revolving products. That is why those with past issues are advised to head to SafetyNet for such a facility. They have recently become the most visited site in the payday sector that shows that most borrowers have already been heading their way. As far as recent industry newcomers, Buffa has a similar level of performance.

Last Check @ www.polarcredit.co.uk: April 27th, 2021

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