Jenny credit informs on its website that it has been providing online short-term cash loans since 2004. During this time the company’s product offer has evolved to meet the needs of customers. Unckle Buck is also a company approved by the Financial Conduct Authority.
Jenny credit offers loans up to £ 1,000. If you are a new borrower, you can count on a maximum of 500 pounds. When you pay off your debt easily, you’ll be able to borrow more. All loan applications are evaluated. Your ability to get a loan will be assessed on the basis of various sources of information, including data from credit bureaus, electronic verification of income and information on income and expenses.
What requirements must be met?
First of all, you must be over eighteen years old. You must also live in the UK and have a permanent job. Your earnings should directly affect the account you have a debit card attached to. You must have an active email address and phone number to which a confirmation code will be sent. Confirmation is also required that you are not in the process of implementing the Debt Management Plan or Individual Voluntary Arrangement, or that you have not filed for consumer bankruptcy. If your application is approved, you will get a loan in 15 minutes, as long as it is between 6:00 and 21:00.
No matter what day of the week. When cash flows into our account also depends on our bank. It is here that you should find out how much time it will take him to process the payment. The decision and type of offer depend on your creditworthiness. It may be that the lender cannot offer you the amount you requested, but you will receive another offer. For example, for a smaller amount or more installments. It all depends on factors such as earnings and credit history, and whether you have met your obligations in the past. If so, then you are more credible. Although bad credit history in this type of company, it does not have to cross your chances.
For some time?
You can borrow money for four or six months. Smaller amounts for four. Repayment is made in equal installments, except for the last one, which is smaller, but very insignificant. Let’s rely on an example. You take a loan of 500 pounds for four months. APR, or real annual interest rate is 1250.2 percent. However, it applies if you borrow 300 pounds for six months. If you borrow 500 pounds for four months, the first three installments will be 197.68 pounds, and the last one will be 190.19 pounds. So you will give back 783.23, which is 283.23 pounds more than you borrowed. This means that the overall interest for the option is over 56 percent.
Of course, there are a number of other possibilities. An accurate calculator is available on the website. Although you can’t get APR and real interest information for every case, you can easily calculate the latter. Just take the total amount you have to pay back, i.e. the sum of all installments, subtract from it the sum borrowed and the difference that will be divided by that sum. So in the example given 283.23 by 500. The amount after the decimal point means total interest. If it is greater than one, it means they are greater than one hundred percent. You can simply multiply it by one hundred.
What if I don’t get a loan?
Suppose your loan request was rejected. In this situation you can count on help in getting it elsewhere. If you applied to Jenny credit directly or if you submitted an application through a credit broker and Jenny credit contacted you, the company may disclose your personal data, including the information you provided, to other credit intermediaries. Jenny credit acts as an intermediary in such cases and will receive a commission directly from her after your application has been successfully processed. However, remember that even with a bad credit history, you are not without a chance when applying. Loan companies often have much lower requirements than e.g. banks.