Will the payday loans accept me and payout quickly? Watch

Vortex9
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#1
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I work full time earning about £15080 before tax.

I pay my bills on time and never had any bankruptcies or ccj's. I never take out any credit.

I have never missed a payment only one last year but paid back straight away. For the last 10 years I've only missed one payment.

My Experian credit score in 980 out of 999.

What is the likelihood I'll get rejected by payday loan for £1600 from payday lenders such as sunny, myjar etc even though my financial record, credit record is excellent?

If so will they payout in 30 minutes? I know quickquid payouts quickly.
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Duncan2012
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Why do you need to use a payday loan? Will you be able to pay it back on time?
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Vortex9
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There are options to pay back in 6, 12 months so yes I can pay it back on time.
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Reality Check
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(Original post by Vortex9)
I work full time earning about £15080 before tax.

I pay my bills on time and never had any bankruptcies or ccj's. I never take out any credit.

I have never missed a payment only one last year but paid back straight away. For the last 10 years I've only missed one payment.

My Experian credit score in 980 out of 999.

What is the likelihood I'll get rejected by payday loan for £1600 from payday lenders such as sunny, myjar etc even though my financial record, credit record is excellent?

If so will they payout in 30 minutes? I know quickquid payouts quickly.
Sorry, but this doesn't make sense. If your credit score with Experian is 980, which is excellent, why can't you access mainstream credit from your bank or a credit card with a good rate? Why are you going to a payday lender?

(and, if you 'never take out any credit', how have you 'never missed a payment...). If you want people to be able to help you properly, you need to be honest in the post. Otherwise, it's a waste of everyone's time.
Last edited by Reality Check; 2 months ago
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Duncan2012
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(Original post by Vortex9)
There are options to pay back in 6, 12 months so yes I can pay it back on time.
If you’re looking to pay it off in several months time you’ll probably find that a credit card would charge less interest. How many 1000’s% interest would a payday lender charge? They’re not designed to be used for long term borrowing.

Given your our salary would you be able to save £1600 in 6-12 months?
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Guru Jason
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Agreed with the above. Go to the bank. Get far better rates and you can still pay it off in 6 to 12 months if you want in the sums you want.

Payday lenders are last resort for people with no options.
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TOP_20
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payday loan type places should be an absolute last resort not a first - you have plenty of other options you could choose.
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Guru Jason
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(Original post by Reality Check)
Sorry, but this doesn't make sense. If your credit score with Experian is 980, which is excellent, why can't you access mainstream credit from your bank or a credit card with a good rate? Why are you going to a payday lender?

(and, if you 'never take out any credit', how have you 'never missed a payment...). If you want people to be able to help you properly, you need to be honest in the post. Otherwise, it's a waste of everyone's time.
I imagine they mean like a phone bill or something which they probably don't consider credit.
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Reality Check
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(Original post by Guru Jason)
I imagine they mean like a phone bill or something which they probably don't consider credit.
Yes, that's probably it actually.
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HappyBuddah
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These are for people with crap credit and they pay through the nose for it, the APRs are about 1000% +. They can also be harmful to your credit file as you will look desperate for cash, so it's really unwise. Have you contacted your bank? This should be your first port of call.

Ignore your credit score by the way, it's meaningless.
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Vortex9
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I don't mind taking out a payday loan.

The problem is how quickly will they pay me out? They advertise within 30 minutes, some 15 minutes, I'm sure I'll be approved on £1600 loan since my credit score is good and it is affordable.
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Guru Jason
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(Original post by Vortex9)
I don't mind taking out a payday loan.

The problem is how quickly will they pay me out? They advertise within 30 minutes, some 15 minutes, I'm sure I'll be approved on £1600 loan since my credit score is good and it is affordable.
A bank will pay you in like an hour after you sign the paperwork which is quick. I did it with hsbc
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xoxAngel_Kxox
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#13
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What do you need the loan for? With excellent credit, you will likely be approved for a credit card. If you get one with 0% on purchases for an introductory period (often between 3-30 months) you'll be able to pay off the amount with no extra interest charges so long as you meet minimum monthly payments and pay it off before the end of the introductory offer.
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HappyBuddah
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#14
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Credit cards can take about 7 days to come through. The bank can have funds ready to transfer really quickly, I'd avoid cash till payday places as they really will charge you through the nose for this.
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xDron3
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#15
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This is dodgy. 15000k after tax works at around 1100 a month. Why do you suddenly need 6 weeks wage?

Look to your bank for a personal loan as they might have the best interest rates.
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Duncan2012
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(Original post by Vortex9)
I don't mind taking out a payday loan.

The problem is how quickly will they pay me out? They advertise within 30 minutes, some 15 minutes, I'm sure I'll be approved on £1600 loan since my credit score is good and it is affordable.
Are you a troll or do you really have no idea about money and credit?
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