ABOUT QUICK QUID
Quick quid is a UK based loan provider, who aim to make applying for a loan as quick and painless as possible.
The entire application process can be completed within 5 minutes, without the need to fax or post anything to the company and you have access to your online QuickQuid personal account 24 hours a day seven days a week.
Quick quid do use the credit scoring model to assess applications, however they do accept those with poor credit histories, who typically attract a higher APR depending on that history.
THE APPLICATION PROCESS-
The Quick quid application process s a doddle, you start off my creating an account that you can access at any time to check your previous applications or apply again, then you are sent to an easy to use application form to complete the process
The entire thing took us 5 minutes per application that we made, if you make your application and it is approved before 14:30, the money can be in your account on the same day!
Approval took 30 minutes on average.
MAXIMUM QUICKQUID LOAN-
The maximum loan that new customers can take out is £400.00, however this is quickly increased to £1000.00 once you have shown quickquid a positive repayment history.
QUICK QUID LOAN REPAYMENT
The repayment rates on loans from QUICK QUID are expressed and an annual percentage rate (APR) as this is a requirement for all UK lenders, so given that loans are typically only for 30 days the typical APR of 2356% may be misleading.
QUCKQUID CHARGES AND COSTS-
The APR is assessed depending on the applicants credit history, and change depending on your personal circumstances. Here are the general costs of loans
|YOU BORROW||YOU REPAY|
|TOTAL YEARLY APR = 1234%|
EXTEND QUICK QUID LOAN-
During our reviews we were not able to find any details of if it was possible to extend a quickquid loan. ( if you do know of this facility please drop us a line on our blog or forum)
QUICK QUID LENDING CRITERIA –
Although the site does not offer a clear explanation of this, we have found through our review process that you have to be:
• Aged 18 or over
• A uk resident
• In employment
• Expecting a wage from your employer
• The owner of a UK bank account
There were no further requirements that we noted whilst doing our reviews of quickquid
CHANCES OF A QUICKQUID LOAN
For this review we had 10 volunteers apply for loans who have varying credit histories, and who wanted to borrow amounts from £100 to £400 pounds. Of the 10 applications 8 were successful and 5 were paid on the same day giving an overall approval rating of 80%.