What are the implications of a credit check?
The credit check will leave a footprint on your credit file. However, when you repay your payday loan on your payday, we will report this to the Credit Reference Agency we use, which could have a positive impact on your credit rating. Each time you take out one of our payday loans and repay it on time we will report this to the Credit Reference Agency, which can help improve or repair your credit rating. In future you may then find that you are able to be accepted for different financial products that you might in the past have been refused for, and you may also be able to increase your payday loan limit with us, subject to earnings and affordability. If customers do not repay their payday loans on time, and fail to contact us in this regard before their payday, we will also report this to the Credit Reference Agency, which may then have a negative impact on their credit rating.
