Representative 277.5% APR. Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed). The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable).
Although some payday loan lender may not explicit state they credit check, it does not mean they don't. Normally, on application, a soft check is carried out in which, if approved to their standards, continue on to the next process.
Payday loans No credit check merely exists. The regulation specifies that lenders should use more than factors when lending. This is from previous history, settled accounts, financial documents to credit checks. If no credit is given, it may mean you have not passed the lender's final full credit check.
Popular type of loans are there to help purchase a new car, finance your wedding and so on. However, payday loans is used for a short term only and always advised not to use the cash for entertainment purposes or for anything but what you are suppose to use them for. For example, unexpected bills, repairs, car repairs, washing machine repairs and any other unexpected financial expenses.
No credit cards are needed to pay off your payday loan, you can pay via your bank via direct debit or by using your debit card. Unlike credit cards, payday lenders have to notify you at 3 days before the repayment of your loan is due stating the amount they will collect. This is a good rule as you may not remember which day the repayment falls on and may be taken out without budgeting for it.