Looking online at customer reviews, it is difficult to find many complaints levelled at MYJAR.
With a score on Trustpilot of 9.4 out of 10, from over 2800 reviews, most customers are happy with the service that they receive from the provider of flexible credit options.
It is however always useful to know what you should do if you are not 100% happy with the service provided, or if you want to make a formal complaint.
Below Cash Lady explores MYJAR complaints and its complaints procedure in more detail.
How MYJAR complaints are made
On its website, MYJAR asks if you are dissatisfied with any aspect of its service that you first contact them to give them a chance to put it right.
Its contact details are on its website and include a phone number, email address and online ‘contact us’ form.
You can escalate this to an official complaint using their usual communication channels or through the special complaints email address at email@example.com.
MYJAR will review your complaint and aim to acknowledge you within three days. If they need longer to investigate then they will keep you advised and will send a Final Response as soon as they can but always within eight weeks.
If you are not satisfied with this response, then you can take your complaint further by complaining to the Financial Ombudsman.
Complaining to the Financial Ombudsman
The Financial Ombudsman is an impartial complaints investigator that will review your complaint free of charge.
You can contact them within six months of receiving your Final Response from MYJAR.
Their contact details are:
Financial Ombudsman Service,
Telephone Number: 080 0023 4567 or 030 0123 9123
Monday to Friday: 8 am to 8 pm
Saturday: 9 am to 1 pm
The Financial Ombudsman may decide that MYJAR’s response has been adequate. If not, your complaint will be upheld and further action will be taken and you may receive compensation or a full or partial refund.
Online Dispute Resolution Platform
MYJAR also points its customers in the direction of an online service set up by The European Commission to help customers who have a complaint about goods or services purchased online from firms in the European Union.
MYJAR complaint reporting
On its website, MYJAR offers a complaints publication report, which it states that under the Financial Conduct Authority (FCA) rules, it is required to publish. It is dated July 2016 and it covers:
- The number of complaints that it has received from customers
- How many complaints it has closed within the required 8-week timescales
- How many complaints it found in favour of its customers
It covers the period of 1 June 2015 to 31 May 2016 and states that 1496 complaints were received, 1396 of these were closed and 394 were upheld.
- 93% of complaints were closed
- 26% complaints were upheld
These figures are promising and show that the clear majority of complaints were closed following an internal investigation.
Types of complaints about MYJAR loans
Using online review website Trustpilot, it is possible to view the negative reviews and complaints from previous MYJAR customers.
These are not necessarily official complaints but they do give an overview of what customers consider to be the less attractive points of MYJAR’s credit options or customer service.
Most criticism comes from customers who have had MYJAR loans refused.
These are typically customers who have previously taken out a loan with the lender and then been disappointed when subsequent loan applications have been refused, or not approved at the requested loan amount.
This is not a reflection on MYJAR as a company, rather it shows that as a lender it is diligent when considering a loan application and properly considers loan affordability and the applicant’s ability to pay the loan back.
Below are examples of 1-star reviews from MYJAR customers on Trustpilot and the lender’s response.
“I have borrowed on a few occasions, sometimes paying back early and have always been on time never defaulted.
I have changed my review (to one star) because after borrowing 5 times and never had any problems paying back, you suddenly decide I am no longer eligible, hard to understand as nothing in my circumstances has changed.”
Response from MYJAR:
“Thank you for your review. Please kindly note that your credit limit (that is the amount that you are eligible to borrow) is reviewed every time you borrow from us and we consider a number of factors, including your income, borrowing record and the information received from the credit reference agency.
As such your credit limit may change over time. We always act as a responsible lender and would never wish to lend money to you that you might find difficult to repay.”
“I have been a customer for over a year and always paid in time. Last time I requested a loan it got denied when I really needed one. Not using this service ever again.”
Response from MYJAR
“Please accept our sincerest apologies for any inconvenience that our lending policies may have caused you.
We have to note that your credit limit (that is the amount that you are eligible to borrow) is reviewed every time you borrow from us and we take into account a number of factors, including the information received from the credit reference agency.
We have sent you an email with further information that might help you to resolve the issue.”
Needless to say, MYJAR appears to go above and beyond to ensure any customer complaints and queries are resolved in a timely manner. They actively engage with borrowers in the review process and genuinely try to help where they can.
Ultimately it can assumed that MYJAR care about their customers deeply.