Trusted Quid Loans
Loans from £250 to £1500
Trusted Quid are short term online loan lenders that offer short term payday and instalment loans of between £250 and £1500 over a maximum period of 6 months.
About Trusted Quid Loans
Trusted Quid are short term online loan lenders that offer short term payday and instalment loans of between £250 and £1500 over a maximum period of 6 months. Trusted Quid have been lending since 2011. New customers are eligible for up to £500 on their first loan. Customers that successfully repay their loan with Trusted Quid will be sent a reward card which will give you access to a range of online and in store savings. Details of the reward card will be sent detailing how to access the reward site.
Representative Example: Borrow £300 for 6 months. The total charge for credit is £219.57 comprising interest only. Interest is set at a daily rate of 0.78% per day per £100 borrowed for the term of the loan (a rate of 284% per annum). The Total Repayable is £519.47. Representative 1212.95% APR.
How quickly do I get my loan?
Trusted Quid fund their loans from Monday to Friday and if your loan is approved before 5:00pm they will send the money to your account via Faster Payments free of charge the same day. If your bank does not have the faster payment system, funds are usually allocated within 24 hours. Loans are typically funded once per day around 5pm
How do I repay my loan?
Trusted Quid will collect the agreed loan repayments via Direct Debit from the same account the loan was paid in to. They will send you statements 10 days before your due date advising you of the repayment amount. It is important that you make sure your account is in credit on this date to avoid extra interest payments.
What happens if I miss payments?
If you think that you may not be able to meet an agreed repayment, you should contact the Trusted Quid customer care team immediately on 0191 450 0015 and they will work with you to come to an affordable repayment plan. If a direct debit payment is declined by your bank, they will attempt to collect the payment from your debit card no sooner than 3 working days after the payment was declined. Please be aware, if your bank rejects a direct debit payment you make be subject to additional charges from your bank.
Loan Qualification Criteria
- you must be at least 18 years of age to apply
- You must be in permanent employment (no temporary, benefits, contract or self-employed applicants)
- You must earn at least £1000 per month
- You must be a UK citizen with a UK bank account and valid debit card
- Trusted Quid are authorised and regulated by the Financial Conduct Authority
- Members of the BCCA
Please be aware: Defaulting on your loan will negatively impact your credit rating! late repayment can cause you serious money problems – be sure you can take on a loan. For facts on borrowing, plus advice we would also recommend the following unbiased organisations: