Our credit line is an income smoothing product which allows our customers to borrow directly from us as and when they need to. As a responsible direct lender we make all our lending decisions ourselves, and we never sell your personal information for marketing or any other purposes. Our product is a cheaper alternative for those searching for payday loans direct lenders and it is highly recommended by our customers as a substitute for direct lender loans.
Then you came to the right place. We have always believed that it is best when two parties get to deal directly with each other and our unsecured line of credit gives our customers the opportunity to borrow directly from us. Unsecured lending has become an increasingly popular service and there has been a boom in short term loan lenders and brokers. There are many reasons why you may need to borrow short term cash and, if you are looking for quick loans direct lenders, we at Polar Credit are here to help by offering a different online credit solution which we hope will be able to meet your borrowing needs.
| FEATURE | CREDIT BROKER | DIRECT LENDER |
|---|---|---|
| Deal directly with the lender | NO | YES |
| Borrow money directly from the lender | NO | YES |
| Transparent application process | NO | YES |
| Clarity on data use | Less | More |
| Chances of approval | Higher | Lower |
| Quick approval possible | YES | YES |
| Simultaneous access to multiple lenders | YES | NO |
Credit brokers can often use a lot of soundbites, such as offering very high chances of approval, but remember, however tempting an offer may seem, it is important to research the actual provider before making your decision to apply.
Direct lenders manage the lending process themselves as opposed to credit brokers who act as a middleman and hand over your personal data to direct lenders.
Any unsecured loan company getting a customer through a broker would usually have to pay a fee to that broker for the referral made. This means that while using a broker can have an advantage of seeing what a range of unsecured lenders can offer you, it may not always be possible to get the best deal unless you come to the lender directly.
The simplest way to tell whether the company you are applying with is a direct lender is to ask yourself “Am I receiving money straight from the company on whose website I applied for credit?”.
These days, if you apply for a payday loan online, chances are your application will be handled by a broker, not a lender. Brokers collect your information and share it with a panel of lenders, often without clearly stating who will actually review your loan application. This can result in multiple credit checks, unwanted emails or calls, and even higher borrowing costs.
At Polar Credit, we are a true direct lender which means we process all applications ourselves, underwrite all credit decisions in-house and lend directly to our customers. We never sell your data, and you’ll always know exactly who you’re dealing with.
Whichever option you choose, your credit agreement will ultimately always be with a direct lender, so the real decision is where to apply when you need to borrow money, whether you are looking to borrow for a short term until your next payday or for a longer period of time.
Applying for credit from a direct lender can simplify the borrowing process by giving you full control of your personal data in an easy-to-understand way.
All reputable brokers will always take care when processing your data, but the nature of their business means that they have to share it with direct lenders. This is necessary to determine which unsecured lender is willing to lend to you, for how long and at what interest rate.
However, it is not always obvious who gets to see your personal details. Many broker websites only go as far as saying that they work with a panel of the Financial Conduct Authority (FCA) regulated direct lenders, without actually giving you their names until you submit your online credit application.
Applying with and borrowing from a direct lender therefore gives you more control and, hopefully, a better understanding of how your data is being processed. Don’t get bogged down in a lengthy, complicated loan application process. Choose direct lender Polar Credit for a simple and fast credit application with a decision in minutes.
Applying direct means no middleman, faster answers and direct contact for questions. Save time by dealing straight with the lender. Read more
Your data is safe with us. We only share your information with trusted parties to assess your application and always only with your consent. Read more
To get the best deal, you often need to go direct. Dealing with brokers creates costs for lenders and so they may only want to share their best deals with customers who come to them directly. Read more
Direct lenders provide better support and can manually review your application if the underwriting system rejected it. Read more
When you search online for payday loans direct lenders, you will find dozens of companies promising fast cash and instant approval. A direct lender payday loan typically refers to a short-term loan where the money is lent directly by the company you are applying with, not a broker. The repayment is usually required in full on your next payday, and these loans often come with very high interest rates and a fixed repayment schedule.
At Polar Credit, we are a direct lender, but our service is different to payday loans. Instead, we provide a credit line. This is a more flexible and sustainable way to borrow money online in the UK with funds available to withdraw to your UK bank account. With a Polar Credit Line, you can borrow as much or as little as you need (up to your approved credit limit), repay in affordable instalments and only pay interest on what you use. There is also no need to reapply each time you need to borrow.
So while we may appear to fall into the broad category of direct lender loans, our product is actually differentiated from a loan, designed to be smarter and more manageable than traditional payday loans. There is still a great deal of demand for short term loans, but unlike a payday loan, a direct lender line of credit offers cheaper alternatives and more flexibility. We are regulated by the Financial Conduct Authority and committed to responsible lending practices that support sustainable lending.
Not quite - but they can both come from a direct lender.
When people search for direct lender loans, they are often looking for a quick, short-term loan and want to borrow from a company that issues credit directly, without involving brokers or third parties. Traditionally, this might include payday loans, instalment loans or unsecured personal loans. All of these are one-time lump sums of money that must be repaid over a fixed term.
At Polar Credit, we are a direct lender, but instead of offering fixed-sum loans, we provide a line of credit. This works differently and offers greater flexibility.
A line of credit is an open-ended borrowing facility. Once approved, you don’t need to borrow your full credit limit upfront. Instead, you can draw down funds as needed, up to your credit limit, and repay at your own pace, subject to making at least the minimum monthly payment. Interest is only charged on the amount you borrow, and once you repay, your available balance is restored and you can use your account again – just like with a credit card. Read more in our credit lines versus payday loans guide.
| Feature | Direct Lender Loans | Polar Credit Line of Credit |
|---|---|---|
| Borrowing type | Fixed lump sum | Flexible withdrawals |
| Repayment structure | Fixed term (e.g. 3-12 months) | Flexible repayments |
| Interest charges | On the full loan amount | On part of the credit limit used |
| Repeat borrowing | Reapply for new loan | Borrow more without reapplying |
| Credit assessment | Per loan application | One-time approval |
If you are looking for a more manageable way to borrow from a UK direct lender, see if our credit line is a better fit than a short-term loan.
All legal lenders offering consumer credit in the UK are authorised and regulated by the Financial Conduct Authority, but it is still crucial that you do your own research before borrowing money. A lot of online short term credit tends to be associated with payday loans and short term instalment loans, but there is a much wider offering out there from other direct lenders who can lend money at a much lower interest rate, even to people with poor or no credit history and with no need for a guarantor.
You should consider factors such as the company’s reputation and the terms of your credit agreement before borrowing, but most importantly you should always consider the need to borrow itself and then go with an option that you believe is the best one for you.
Only borrow what you can afford and remember to make your payments in a timely manner. Missed payments can damage your credit score and make credit more difficult or more expensive to obtain in the future. At Polar Credit we recognise that it is difficult to always have the same budget every month which is why our credit line offers you the flexibility to make only minimum payments if you need to or repay your balance in full when it suits your circumstances to do so.
Whether you are looking for an alternative to online payday loan companies, a new credit card or a guarantor loan, Polar Credit can offer an innovative product built with you, the consumer, in mind. Polar Credit is the next generation of online consumer credit products.
Polar Credit is a trusted, responsible lender and we operate with complete transparency and no hidden fees. Our aim is to offer you the same speed and convenience that you may get from getting instant short term loans online but at a much lower interest rate, while at the same time being a more predictable and reliable service.