Speed-e-loans Repair Your Credit

Speed-e-loans are a little different to your usual payday loan lender. They lend between £100 and £250 for first time customers and you can borrow it until either your next pay date or the one after that. They increase the amount you can borrow to £1000 for returning clients.

Interest is charged at 1% per day plus a £4.95 charge making them an extremely transparent lender. Need £200 until payday in 3 days time? While other lenders will require you take the loan for a longer period this isn’t a problem with Speed-e-loans. £200 for 3 days will cost you just £6 in interest plus the £4.95 charge.

A lot cheaper than going overdrawn with your bank and £2 cheaper than any other payday lender we could find who will lend over such a short period.

How Speed-e-loans Improves Your Credit Score

What makes Speed-e-loans really stand out from the other payday lenders though is that they don’t mind taking customers with a poor credit rating and they will go out of their way to help you actually improve your credit score by reporting the debt as settled to the credit bureaus as soon as you pay the loan back.

This is a huge bonus for those people trying to improve their credit score and in return for this service you can be sure Speed-e-loans have a better settlement rate than their competitors because customers will want to take advantage of this bonus.

It’s just a shame more payday lenders don’t work like this to actually help their clients improve their credit rating.

How Speed-e-loans Works

Simply visit their website by clicking here and select how much you wish to borrow by moving the slider to the desired cash amount. Enter your next payday date and the one after that and hit ‘apply now’ to see how much your loan will cost you when paid back at either your next pay date or the following one.

Decide which payday you wish to pay back the loan and hit the ‘apply now’ button.

It is essential that you only enter your payday dates because you will be automatically repaying the loan on that date via your debit card. If there are not enough funds in your account to cover the loan repayment you are going to end up with bank charges.

The application process is extremely fast and we had the money in our bank account within an hour. If you apply after 3:30pm your money is transferred first thing in the morning.

On the day you agreed to settle the loan the money is paid back via your debit card and the credit bureau is informed that you entered into a loan agreement and settled on time.

Our Speed-e-loans Review 

We really rate Speed-e-loans highly and make them our first choice for anyone wanting a small instant cash loan and who has a less than perfect credit history.

Although their charges are a bit higher than QuickQuid we give Speed-e-loans the same 5 stars because you will actually be able to repair your credit rating when using them (as long as you ensure you repay the loan on time of course).

You can visit the Speed-e-loans web site by clicking here.