QuickQuid
QuickQuid offers fast short-term loans up to £1500 for new customers, with repayments from 1 to 24 months and fast decisions in under an hour.
QuickQuid has re-entered the UK market, focusing on fast, flexible short-term loans for those who may not qualify with typical banks. With rates from 9.3% to 102.5% APR, new applicants can request up to £1500, with previous customers eligible for up to £2000. Repayment plans run from 1 to 24 months and the process promises quick fund transfers usually within 10 minutes after approval.
Step-by-Step Application Guide
- Complete the online application with your personal and employment details
- Receive a lending decision within 30 minutes or less
- If approved, funds are transferred to your bank account in about 10 minutes
Advantages
QuickQuid’s main attraction is speed. The whole journey, from application to payout, can take less than an hour. Clear repayments, upfront costs and soft credit checks offer peace of mind for applicants worried about damaging their credit record.
Another highlight is the repayment flexibility. Borrowers can repay from 1 to 24 months, making it easier to manage through financial hiccups and emergencies.
Disadvantages
Interest rates can reach up to 102.5% APR, making these loans expensive for longer-term borrowing. Customers should also note QuickQuid currently acts as a credit broker, not a direct lender until their full FCA permissions return in 2024.
Short-term loans aren’t suitable for those in ongoing financial difficulty and should only be considered for urgent, unforeseen expenses.
Final Verdict
QuickQuid is a solid option for UK residents needing fast, short-term funds, especially if bank loans aren’t available. The process is swift and transparent, but costs can be high, so careful consideration is advisable.