Knowing where to turn to when you are short of paying the bills or putting food on the table is a big problem and we can easily get sucked into irresponsible lending such as payday loans which does more harm than good. Seeking out manageable, responsible lending is possible and I'm thankful that today I'm working with Polar Credit to talk about just this - payday loan alternatives.
So What Is Polar Credit?
Polar Credit is a credit line that aims to bridge the gap to mainstream finance so responsible borrowers can progress to lower-cost credit and not pay the higher fees and interest rates associated with products such as payday loans, whilst also rebuilding their credit rating. So think of it as a credit card, but without the actual card. Much more environmentally friendly and perhaps not as easy to reach too if you are worried about overspending.When applying you apply for a credit limit through an online application, if approved the money can be transferred to your account - as and when needed. Repayments can also be tailored based on your current financial circumstances so you can repay in full or make the minimum repayment.
What can they offer?
Benefits of Polar Credit?
- Access to funds on demand
- Can be faster to open a credit line account than a credit card account
- Significantly lower interest rates when compared to payday loans
- More flexible repayment options than short term loans
- No guarantor required
- Flexibility to borrow only the money you need, when you need it
- Interest only accrues on the amount that is borrowed, not the full credit limit
- Interest rates decreases over time
- Can help you rebuild your credit score if used appropriately
- Helpful for short term money shortfalls
- Polar Credit is a revolving credit product, not a loan
K Elizabeth xoxox
*Collaborative Post
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