Unfortunately, your payday loan request has been rejected by all the lenders we work with (including Wonga, QuickQuid, Payday UK, MyJar and 24 other Lenders). This is most
likely due to issues with your credit score. Continuing to look for a pay day loan with another provider right now could worsen this situation.
We suggest that you look at your credit report through one of the providers below and/or look at other forms of finance which may be more suitable to your
financial circumstances. These options include poor credit Credit Cards, LogBook Loans or Debt consolidation Loans.
Credit cards provide a good alternative when it comes to expanding your credit options and extending your credit limit. These cards carry a lower APR compared to high cost short term credit loans but still high in relative terms as they're designed to accommodate people with lower credit ratings. Processing times vary between 1-2 weeks but the benefit in the long run may be worth it as it can save you money comparing to high cost credit options.
These are credit cards aimed at people with poor credit. They're designed to help you with your credit rating. Using them and paying them off on time will mean that they are shown positively on your credit history, which should help when other lenders come to credit score you in the future.
While you may be turned down for a credit card with better rates, there can be advantages to taking out a credit card, even at higher rates. They can be a source of extra finances when needed, and some of them even offer cashback or bonuses when you use them.
The reason why these are offered is because the lender stands to make a lot more profit than with most credit cards if you don't repay on time. This is obviously an attractive idea, as there is a market for the higher-risk customer.
As a result, you should be aware that the risk isn't just on the lender - it's also on you. If there's a risk that you won't be able to repay, you'll be charged more than you would with most other credit cards. So if you think it's more likely that you'll max out the credit card quickly, it may be worth reconsidering.
Because of the higher rate, it's important to repay these on a regular basis. The idea, after all, is to show that you can be trusted with finances, not to create more debt.
If you can repay them on time, then these could be a useful alternative to a payday loan. You'll be able to pay for the necessary items with the credit card and then repay the balance when you get paid.
You can read more in our Guide to Credit Cards and Their Use
CashLady.com is a credit brokerage website owned and operated by Money Gap Limited. We are not a lender and do not provide credit to consumers. If you make an application through this site it will be shown to a selection of UK based lending partners for careful consideration. Applicants must be 18 years or over and approval is subject to status. We will never charge a fee for our service, but do receive a commission from lenders following successful introductions originating from this website. Any information we provide is for the strict purpose of illustrating the lending process only and does not constitute any form or financial or legal advice.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
*This varies from lender to lender, some lenders may take up to 48 hours to deposit funds in your account.