We all get
that moment or time in life when we are strapped for cash. It might be due to an emergency, home repairs or an unexpected car expense. This is when we dive
into our savings or an emergency pot. However we don’t all have that emergency
pots or savings to dive into so what do we do? We might be lucky to have family that help out, but again
we might not all be that fortunate. So what is our option?
What is Polar Credit?
Polar credit
is a new, simple way to get fast, accessible credit. They are a direct lender
who makes their own lending decisions and you are not required to have a
guarantor to borrow money. They also reward customer loyalty by reducing the
interest after one year of opening the account, then again after another 6 months.
How does Polar credit work?
1. Apply online -You can do this using an online form which is easy to fill.
2. Choose a
credit limit- You can apply for a credit limit that works for you and, if
approved, use it as and when you need to. The good thing about polar credit is
that you only pay for the amount you use not for the amount you ask to borrow.
3. Transfer- You can request to transfer money to your nominated bank account whenever you need the funds. You can transfer as much money from your agreed amount as you need, the minimum amount starting from £25
4. Repay- The
repayments are flexible, you can pay the agreed minimum payment each month. However if you wish to and can afford it you can pay more than the minimum
requirement whenever you want to. There are no early settlement fees and you
can continue to make further transfers into your bank account at any time as
long as you comply with the terms of your credit agreement.
We all get
sudden emergencies or occasions when we need to borrow money. It is important
to research and do this with caution and only borrow what you can payback to
avoid getting into debt.
**collaborative
post.