You know, sometimes life happens, and you need to take out a loan to pay for a broken pipe, to help you buy a new much-needed piece of furniture, or to send the kids off to some overrated and overpriced school trip. For the longest time, we have borrowed money from the bank because, well, it was the only available solution. Yet, 2022 is bringing about a new way of seeing and borrowing money and its name rings bells all across the UK: Polar Credit.
Long gone are the days in which you would stress out about not securing a bank loan because of a low or bad credit score. We’ve got a new lifesaver credit line in the game, and Polar Credit sure is changing it.
Who are Polar Credit?
The payday loan alternative has been created to offer credit options to anyone who is particularly lost between overdrafts loans and other credit cards. Not only that, but if you had a bad credit score in the past, you could kiss a loan goodbye before even seeing it when interacting with any bank.
Banking has always been something of a blurred path for most of us, am I right? Not anymore with Polar Credit, established to offer an easy solution for credit needs. It works as easy, fast, and transparently as I could imagine a banking process or lending process to be. All you need to do is apply online, with the interest rate always known beforehand. Once you are approved by Polar Credit, you can transfer the funds into your existing bank account up to the credit limit established by Polar Credit.
Then, all that’s left to do is pay back your credit line monthly, just like you would do for classic credit card repayments. Easy and hassle-free, and you even get the right to access more funds when you need them as long as you remain within your credit limit.
But what’s a credit line, exactly?
Now that I’ve broken down just what it is that Polar Credit does, I thought it would be nice to talk about what a credit line is. In a few easy words, a credit line is an ongoing form of credit. That means that you don’t need to apply every few days or months to transfer more funds into your bank account. Once you are approved at Polar Credit, you have a credit limit that you can pick from whenever you need some funds.
As long as you’ve read the terms of your credit agreement and – of course – stay within your credit limit, you can enjoy a very fruitful relationship with Polar Credit. That means withdrawing as much money as you need for your everyday expenses and punctual needs.
So, how can I apply?
If you need fast and accessible credit, you can apply online with an application that is easy and as straightforward as they get. Unlike many direct lenders and credit line providers, Polar Credit will make you choose a credit limit that is suitable for you. If you’re approved, you can use it whenever you need to.
If you don’t actually use the funds, you won’t have to pay for anything. The word to remember here is fast and hassle-free, as Polar Credit knows that sometimes life urges you to find money wherever you can. Basically, Polar Credit is that secure credit line BFF you need; safe, reliable, and quick.
And how do repayments work?
Of course, just like any credit line, you are advised to repay as early as you can. Why is that so? Because if you make your minimum monthly repayment, the total cost will be higher, interest-wise. Repaying your balance as soon as you can is not only a responsible thing to do, but it will also allow you to pay less in terms of your total balance in the long term.
For repayments, you’re free to pay the minimum amount one month, more the next month, or just pay everything in your balance in one time. That makes Polar Credit a different direct lender than the bank, where you would have to pay every month for the same amount of money making you pay the entire balance and all fees every month. Here, you’ve got the possibility to pay less interest if you can – and that’s a much-appreciated kind of freedom.
So that’s the whole deal of Polar Credit?
We’re talking about a credit line that knows not everyone has a perfect credit score or history. You don’t even need a guarantor to have a Polar Credit account, and if you’re in the UK and in need of quick cash, this is the ongoing credit line you need.
The bonus is if you use Polar Credit responsibly, on the first anniversary of your account opening, Polar Credit will reduce your interest rate by 10% per annum. Then, the interest rate will decrease by 5% every 6 months until it reaches 29.9% per annum.
In a nutshell, if you’re in need of lower interest rates while borrowing, a fast opening for your credit line account, and access to funds on demand, Polar Credit seems to be exactly the direct lender you need. It is always appreciated to pay less money while borrowing, in a world where everything seems to get more expensive by the day.
Polar Credit will help you manage responsibly your credit so that, in the long term, you can avoid any kind of high fees and interest rates that payday loans usually cast upon borrowers. Not only that, but you can also rebuild your credit rating at the same time. Whoever said that borrowing money had to be painful will have to think again.