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Payday Loans Alternative

£200 £2000 Representative Example: Amount of credit: £1200, interest rate: 60.23% pa (variable) and 1.65% transaction fee. Representative 86.3% APR (variable)

Looking for a payday loan? Try our credit line instead!

Polar Credit is a revolving credit facility that you can use every day to help with your daily expenditure. An account with us lets you withdraw funds when you need to, with cash transferred to your bank account within minutes of approval.

We know what matters to customers when they are looking for credit – a simple online application form, a quick decision and fast access to cash. Our credit line brings all of this together but in a product that also comes with a much lower interest rate when compared to a payday loan.

Application form

We ask you to provide us with some information about you that helps us make our lending decision, such as your full name, address and date of birth together with the details of your employment, income and expenditure. The entire application process is done online and, because we are a direct lender, we tell you the outcome of your application in only a matter of minutes.

Our lending decision

We use the information that you’ve provided in your application form together with the information in our own database and the information that we receive back from the credit reference agency to make a quick decision on your application. It is important that you accurately fill in the application form to make sure that we have access to all the right information to help us assess your application. If the information that you provide does not match our records we may have to ask for further information to continue with your application.

We are a direct lender, not a broker, and we make all our lending decisions ourselves. Please take you time when applying to consider all the questions in our application form as that helps us make our decision. Once the application form is submitted, there is no more waiting time to find out the outcome of your online application. We will tell you straightaway if you’ve been approved and the amount of credit that your credit line has been approved for.

The entire process takes place online and your Polar Credit credit line is available for you to use immediately after you eSign your credit agreement.

Fast transfer of cash

Once your application is approved funds are transferred to your bank account within minutes of you making a withdrawal request and you can access the money shortly afterwards as long as you hold your account with one of the main UK banks that supports Faster Payments. 

The cost

Sounds like all of the best features of payday loans so far? Well, here is what we think is the best part of our alternative solution – the cost. Taking out a £100 payday loan for 30 days can cost you as much as £24 while it only costs £6.60 to borrow £100 for that length of time from us.

What happens after I've been approved?

Once your Polar Credit application is approved it is even quicker to access extra cash when you need it again. Our credit line is designed to be used as and when you need extra funds for your everyday expenditure and as an existing customer you can withdraw extra cash at any time as long as you make your scheduled payments in a timely manner and stay within the terms of your credit agreement.

Reliable and consistent

We trust you to make your repayments on time and it is important to us that you can trust us to be there for you when you need quick access to extra cash. Customers who use payday lenders are often unhappy about the unpredictability of the lending decisions. They can be approved once, repay on time but then can’t borrow again even though nothing has changed. Don’t get left out in the cold! At Polar Credit we give you an alternative to payday loans that you can rely on. As long as you budget responsibly and make your agreed repayments in a timely manner we are always here for you so you can borrow up to your credit limit whenever you need to. Never risk having your application rejected again.

Bad credit or no credit history? We understand that life happens.

Got a thin credit file or a bad credit history from some poor decisions made in the past? Don’t think that a payday loan is your only option when you are looking for credit. While we may not be able to approve some customers who still continue to miss their repayments, those with defaults in the past can qualify for our cheaper alternative to payday loans.

Credit where it’s due

Payday loans are an important part of consumer credit and they help lots of people every day manage the ups and downs of their income and expenditure. Online payday loans in particular have shown that quick access to credit through a simple and easy to understand online application form is fast becoming the norm. Payday lenders brought a lot of innovation to the consumer credit market but now we are delighted to offer you a payday loan alternative that give you access to credit in the same innovative way but at a much lower cost.

Polar Credit is the next generation of online consumer credit products. Our aim is to offer you the same speed and convenience that you may get from getting a payday loan online but at a much lower interest rate and a Representative 86.3% APR (variable).

Apply now for a Polar Credit Line and leave payday loans behind!

Ready to Apply?Polar Credit

Representative Example: Amount of credit: £1200, interest rate: 60.23% pa (variable) and 1.65% transaction fee. Representative 86.3% APR (variable)

£200 £2000