Whenever you apply for credit – be it a loan, mortgage, car insurance or mobile phone contract – the lender in question will check your credit report to get an understanding of your credit history.
When it comes to taking out a payday loan, choosing a reliable lender is absolutely essential. You don’t just want a loan from any lender – you want a loan from a lender who can appreciate and understand your circumstances, and provide you with the information and advice you need to make informed and responsible borrowing decisions.
In the UK, fraud and cybercrime are the most common offences with around one in ten adults falling victim to online fraud. Every day consumers and firms alike are exposed to a diverse range of online fraud types, including (but not limited to) credit card fraud, identity theft, push payment scams and debit card fraud.
When applying for any form of credit, having a good credit score is incredibly important and it will ultimately affect all financial commitments in your life: loans, mortgages, credit cards and many other forms of credit are dependent on you having a good credit score.
Thanks to regulation and an industry-wide price cap introduced by the Financial Conduct Authority (FCA) in 2015, preventing interest and fees from exceeding 0.8% per day of the amount borrowed, ensuring default charges do not exceed £15, and that borrowers never have to pay back more in fees and interest than the amount borrowed, the high-cost short-term credit industry has changed for the better.