How do I improve my credit score? There are three Credit Reference Agencies (CRAs) in the UK - Equifax, Experian and TransUnion. They all have different scores but this is completely normal. All three are dedicated to collecting information on your financial behaviour and how it has impacted your score.It's good practice to look at all of your credit scores on a regular basis so you can keep an eye on any changes. You can get to know your credit score better with free credit reports using the links below:
Why is my Reward Loan score different than my other credit score I can see? We review your eligibility for a reward based on a credit score provided by Equifax. This score is called a ‘management score’. It’s different from the score you’ll see on your credit reports which show you how likely you are to get accepted for credit. It’s shared with us from Equifax so that we can measure your score movement over time. We compare this score against a score taken directly from Equifax on the day that you apply for our loan.
We review your eligibility for a reward every three months and for every 25 points that your credit score increases, we'll automatically reduce your loan rate by 2%, as long as you're up to date with your repayments.
Where do I find information about my Direct Debit You can obtain information about your Direct Debit by calling 0345 840 0281 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
How do I change my phone number? You can change your phone number by calling 0345 840 0281 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
How do I change my bank details for payments? If you'd like to change the bank account your monthly repayments are taken from by calling our team on 0345 840 0281 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales). As a responsible lender, it's important that we can verify your new details. If we can't, you won't be able to use a different bank account and we'll continue to take your loan repayments from the bank account we verified when you took out the loan with us. If you'll struggle to make your repayments from this account, get in touch with us so we can help.
Changing your bank details won't automatically update your Direct Debit. If you need to change your Direct Debit, get in touch with us.
Why haven't I earned a reward? This could be down to a number of reasons. We review your eligibility for a reward based on a credit score provided by Equifax. This score is called a ˜management score'. It's different from the score you'll see on your credit reports which show you how likely you are to get accepted for credit. It's shared with us from Equifax so that we can measure your score movement over time. We compare this score against a score taken directly from Equifax on the day that you apply for our loan. We use this score to review your eligibility for a reward every three months. Your score will need to be at least 25 points higher in order to earn a reward and you'll need to be up to date with your loan repayments. Your loan rate can reduce to 9.9%, so if your loan is at 9.9% or below, you won't be able to earn any more rewards.
Can I earn more than one reward every 3 months, on my Reward Loan? Yes, we don't limit the number of rewards you can get at each review period. So, if your credit score increases by 100 points, we'll reduce your loan rate by 8%. You can continue to earn rewards every three months, as long as you're up to date with repayments, if your score has increased by 25 points or more. Your loan rate can reduce all the way down to 9.9% so if your loan rate is 9.9%, you won't be able to earn a reward. Our loan APRs (Annual Percentage Rates) start at 10.9% to 39.9%.Representative Example: 25.7% APR Representative based on a loan of £5,000, repayable over 42 months at an interest of 25.7% pa (fixed). Monthly repayment of £174.65. Total amount payable £7,335.28. Our representative APR applies to loans from £1,000 to £12,000, for terms of 12-60 months.
I cancelled my Direct Debit by accident, how do I set it back up? If you've cancelled your Direct Debit by mistake and would like to set it back up, call 0345 840 0281 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales).
How do I change my address? You can change your address by calling 0345 840 0281 between 8am to 6pm Monday to Friday (excluding bank and public holidays in England and Wales). If you've recently moved house, we'd suggest waiting 6-8 weeks to change your address details so your information is updated and you're registered to vote on the Electoral Register. Not being registered to vote can have a negative impact on your credit score. Please be aware that we'll carry out a soft search when updating your address. This is so we can be confident that the change is secure and we can protect against fraud. This search will only be visible on your credit file to you and won't impact your credit score.
My circumstances have changed, what do I do? If you're aware of any change in your current circumstances, and think you may struggle to make your next repayment, please get in touch with us so that we can help you.