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How Polar Credit can help with a variable income

There are several occasions in life where you may experience a shortfall in cash. Perhaps you are changing jobs, or you need to replace the tyres on your car? These expenses can usually be covered with an overdraft or a quick payday loan. But what if you experience temporary shortfalls more frequently because the nature of your work means you don’t have a steady income?

Most months, you will probably be able to meet all of your financial commitments without any issues. But if you are self-employed or a large part of your income is down to seasonal work, there can be a few times where you find your paycheck just isn’t quite enough.

Is there a product that can help you meet your financial needs without costing a fortune? A credit facility that means you don’t have to make a new application every time you need to borrow a little bit of cash? And, will you be rewarded for your loyalty and for using that credit product sustainably?

The Polar Credit Line

Try the Polar Credit Line. Polar Credit offers a credit line which is similar to a credit card, but with ease and loyalty at its core. Like a credit card, you will have a credit limit and you can use as much of that credit limit as you need to keep your cashflow flowing. Then, at the end of the month (or whenever your payday falls), you make a minimum payment to keep your credit line up to date, or you can repay your full balance. The minimum payment is made up of your transaction fee, the interest that accrued on the amount that you withdrew and either £10 or 5% of the amount that you borrowed. This means, if you can’t afford to repay your full balance in full one month, you only need make a smaller contribution.

Revolving Credit

Because a credit line is a revolving credit product, you can continue to withdraw funds into your bank account every month – as long as you make your minimum payments on time and stay within your credit limit. When you withdraw money from your credit line, the funds go directly into your nominated bank account and then you can pay any unexpected bills or even just go food shopping knowing the money is in your bank account and you can spend it with your normal debit card.


The Polar Credit Line is designed to be flexible so that you can borrow money when you need to and pay it back as and when it suits your financial circumstances. We understand that it is not always convenient to repay your full balance every month, but similarly, we understand that you might wish to repay the balance in full and not borrow for a couple of months. With Polar Credit, there is no pressure to continue to withdraw funds if you don’t need them, and there’s no pressure to repay the money borrowed in full if you can’t afford it – although you should note that only making your minimum payment each month will take you longer to repay the balance.

Customer Loyalty

Something a lot of brands fail to recognise these days is customer loyalty. This is why we wanted to make sure that we rewarded our customers for using their Polar Credit line sustainably - it’s part of our commitment to financial sustainability. After your 1 year anniversary with us, we will reduce your interest rate by 10% pa. This means, the amount of interest that accrues on your withdrawn balance will be smaller, so your overall repayments will also be smaller.

Then after that, every 6 months you borrow with us responsibly, we will reduce your interest by 5% pa until you reach our minimum 29.9% pa – which is roughly in line with normal credit cards. So, even if you have a bad credit history, you can still work towards accessing a low interest credit product while still meeting your financial commitments and borrowing on the odd occasion you might need to.

As well as reducing your interest rate, we also monitor your activity with us and will review your account every 6 months to see if you are eligible for a credit limit increase – or similarly, a credit limit decrease if desired. This is because we recognise that over time, your financial commitments may increase, and having access to a larger amount of credit can help relieve some of the stress that comes with applying for large loans.

Applying for a Polar Credit Line

If you feel you could benefit from having access to credit as and when the occasion arises, and you’re committed to using financial products responsibly, then perhaps a credit line with Polar Credit could help. Our applications are online only, but it’s quick and simple and you will get your decision in minutes, so you’re not left waiting all day for a response. On some occasions, we may conduct a manual review of your application and this can take a little longer, but we always endeavour to provide a fast service. If your application for our credit line is approved, you will be able to withdraw funds straight away, and as long as your bank supports the faster payments service, you should receive the money you withdraw almost instantly.

More Information

Credit Card Alternatives

Polar Credit’s Commitment to Sustainability

How could a Polar Credit Line benefit me?

More Questions? Check out our FAQs section.