Quickquid is one of leading pay-day loan websites in the Uk. They have recently modified their loans to let you get your hands on a loan in just 10 minutes. Their rates are kind of expensive but are the best you can find in Britain. If you want to save even more cash be sure to try the quickquid promo code review website, that has all of the latest updated discount codes which can save you as much as 50% off these fees.
The pay-day loan agreement that you take out with them is ruled by the Customer Credit Act of 1974.
This article should help you to appreciate their fees and charges in a simple, easy to comprehend way.
Their current (December 2011) costs for taking out a 30 day loan period is as follows.
Tier 1 (Glorious credit score)
A loan value of 50 pounds – expect to pay a fee of ten pounds, so the full amount when lending fifty pounds would be £60 – this works out to an APR of 819.12%
Tier 2 (Decent credit rating)
A loan amount of 50 pounds – expect to pay a fee of twelve pounds and fifty p, so the whole amount when lending fifty pounds would be £62.50 – this works out to an APR of 1410.33%
Tier 3 (Average credit history)
A loan value of 50 pounds – expect to pay a fee of 14 pounds and 75 pence, so the full amount when lending fifty pounds would be £64.75 – this works out to an APR of 2222.46%
Their present (December 2011) costs for taking out a loan over a 60 day loan period is as follows.
Tier 1 (Fantastic credit rating)
A loan amount of 50 pounds – expect to pay a fee of ten pounds twice, so the full amount to repay when lending 50 pounds would be £70 – this works out to an APR of 819.12%
Tier 2 (Great credit rating)
A loan value of 50 pounds – expect to pay a charge of twelve pounds and 50 pence twice, so the full amount to repay when lending fifty pounds would be £75 – this works out to an APR of 1410.33%
Tier 3 (Average credit record)
A loan value of 50 pounds – expect to pay a charge of 14 pounds and 75 pence twice, so the full amount to repay when lending 50 pounds would be £79.50 – this works out to an APR of 2222.46%
Quickquid transparency
Their loan terms are transparent which suggests that they have no hidden fees or unpleasant surprises when you sign the dotted line, there are a couple of ways that you can get charged extra to keep an eye out for, specifically missed payment fees and charges by your bank for failing to pay a direct debit.
Quick Quid does not charge you for the following
Application fee
10 minute money charge
Monthly account upkeep
Collection fees
Default interest
Charges that you can encounter if you miss your payment date
Late payments incur a penalty fee of 12 pounds
Your bank might also charge you a direct debit non payment charge if you don't have enough funds in your bank to cover the quickquid withdrawal.
Boris Johnson is an expert in economics and finance. He regulary writes for countless publications and blogs including the quickquid promo code website, which has all of the latest quick quid promo codes that will allow you to save heaps of money if you are considering taking out a payday loan.
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