SafetyNet Credit
68.7% Representative
Will lend between: £1 - £1,000
Over: 0 - 365 Days
The quickest way to find the best loan.
Compare UK direct lenders that have accepted your application.
- Fill in one quick and simple form.
- Loans for all purposes.
- Bad credit history accepted.
Representative 49.9% APR (variable).
SafetyNet Credit customer reviews.
4.6 out of 5 stars
Our review of SafetyNet Credit
SafetyNet Credit offer a product quite different to the high-cost short-term market. Rather than providing a standard short-term loan they provide a flexible and running account credit facility. When you apply to SafetyNet credit and are successful, you can choose to either transfer the balance to your account, or alternatively, choose the function that tops up your account to stop it from falling below a certain point and help to stop those pesky overdraft fees. Interest is charged on borrowing at a daily rate of 0.8%, this is capped at 40 days.
Customers with less than perfect credit history are still able to apply, although you will be credit checked during the application process. Failure to make payments or missed payments could have a negative impact on your credit history so please carefully consider if you can meet the repayments.
Overall verdict: If you have bad credit and are looking for short term finance SafetyNet Credit are definitely worth considering. They are at the cheaper end of the market, enable flexibility towards borrowing and are supported with strong consumer sentiment across the web. Saying this, SafetyNet Credit still provide a product that comes with a warning so be sure before applying.
Highlights
- Repayments taken when you have sufficient funds in your account
- SafetyNet have their own app
- Takes only 15 minutes to transfer from your credit line
- Automatic borrowing to cover overdrafts
- Revolving credit line, no need to reapply
Minimum criteria
- Must be a UK resident
- You must be aged over 18
- You must be employed
- You will need to have a salary or regular income
- You will need a current account with internet banking
Fees
- Maximum APR 68.7%
- Arrangement fee: £0
- Early repayment fee: £0
- Late payment fee: £0
SafetyNet Credit Customer Question & Answers
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About SafetyNet Credit
SafetyNet Credit, a trading name of Indigo Michael Ltd, offer short term finance up to £500 at a representative APR of 68.7% . They don’t have specific loan terms or monthly repayments as this credit line style of finance is flexible and takes into account how much you can afford to repay. These payments can be made manually via the online management tool at any time, or automatically as money comes into your account. SafetyNet will not automatically withdraw funds if it looks like it will affect another credit instalment, or would take you beyond your overdraft limit.
The finance works by linking up with your bank account and once your balance falls below a predetermined amount, SafetyNet Credit will automatically lend you money in order to prevent the borrower from dipping into their unauthorized overdraft and incurring penalty fees.
In order to apply with SafetyNet Credit you must have a UK bank account with online banking facilities in your name. They do accept borrowers with a bad credit history but as part of your application with SafetyNet Credit, you will be subject to credit checks.
Company information
Registration number: 7721420
Indigo Michael Ltd, 10 Brick Street, Mayfair, London W1J 7HQ
FCA registration
Reference No: 715525
Trading names: Indigo Michael Ltd, SafetyNet Credit, Tappily
Place of business: Account Technologies, Windsor Court, Frederick Place, Loudwater, HP11 1JU
Data protection registration
Registration No: Z2878281
Data controller: Indigo Michael Ltd
Address: Account Technologies, Windsor Court, Frederick Place, Loudwater, HP11 1JU
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