Payday Loans
AUG 30, 2011 3:56 PM

QuickQuid Review

QuickQuid payday loans have been growing in popularity thanks to their recent television ad campaign promising your money will be paid into your bank account within an hour of your loan being approved.

As well as a fast payout QuickQuid have an easy application process which only takes 5 minutes and there is nothing to fax or post to them. They are also happy to accept customers with a less than perfect credit score.

How Much Can You Borrow?

If you have never had a QuickQuid loan before they will lend you up to £1000 dependent of course, on your take home salary. Once you become a regular customer they can at their own discretion raise the amount to £1500.

Interest Rates

This is where QuickQuid set themselves apart from the other payday lenders on the market. They have a 3 tier system which rewards their customers for paying repaying their loan on time.

Which tier you start on as a new customer will depend on your credit history and employment history. If and when you return in the future for another payday loan then your repayment history will also be taken into account.

The rates offered are as follows:

Most expensive rate you will pay in interest is £29.50 per £100 borrowed

The next best rating will pay £25 interest per £100 borrowed

The best rating will pay just £20 per £100 borrowed

Even the dearest tier (which its assumed all new customers will start on) compares extremely well with most other payday loans on offer – Wonga for instance charge £36.72 for a £100 cash advance. At just £20 the ‘best’ tier is the cheapest we have found to date although at the time of writing it was usually allocated to regular customers or new customers with very good credit ratings.

To save even more money on your loan use this PAYDAYPROMO30 promo code we discovered which gets you a further 30% discount regardless of the interest rate you are started on. Using the link will mean even the dearest rate now costs you just £20 whilst those qualifying for the best rate will pay just £15 – the cheapest payday loan in the UK by some distance. See our payday lender comparison chart by clicking here.

If you have used the QuickQuid service more than 3 times and paid each on time and are not offered the best APR, it would certainly be worth asking for it even if you have a less than great credit history. As a regular borrower with a proven repayment history they will not want to lose you to a competitor.

QuickQuid lenders also offer a 60 day loan period which simply doubles the interest payable. It should also be noted that the first months interest is due on 30 days while the second months interest and balance is due on 60 days.

The Application Form

Nice layout makes it easy to follow and yes, as that annoying TV ad says, it won’t take more than 5 minutes to apply.

QuickQuid Review  quickquid review

We really like this payday lender and rate it the UK’s best. If you need a payday loan then without a doubt QuickQuid is the company to go to.

Remember to use PAYDAYPROMO30 to get 30% off your Quick Quid loan.