CreditStar Review | www.creditstar.co.uk

CreditStar

About…
Address: 17 Hanover Square, London, W1S 1BN.
Branding: CreditStar. Also known as: Credit Star.
FCA Licence: 633452.
From: UCSL Ltd (part of CreditStar Group AS).
Launched: 2011.
Memberships: CCTA.
Related: No companies.
Website: www.creditstar.co.uk.

Loan Details…
Available: Monday to Sunday (9am/8pm).
Bad credit considered: Yes.
Manage: CreditStar login provided via www.creditstar.co.uk.
Offers: Short term loans.
Sums: £100 to £300 (new) £700 max (returning).
Terms: 5 to 30 days.

The Pricing…
£5.60/£100 (7)
£24/£100 (30)

Notes: The launch year may be later than 2011. Since there is no reference made to their formation we used their domain registration year. It is stated in the FAQ that a team member may need to contact applicants to confirm their details.

Noteworthy…
– International: As well as the UK, this brand is active under the same name in Estonia (the founder’s home), Finland, Lithuania, Poland and Sweden. This company isn’t well known locally, but they have made much more of an impact across Europe. Just to expand on this, “CreditStar” is searched locally in Google under 500 times monthly, whilst the number of searches made worldwide sits just over 5000, hence 10 times greater. The larger Group was formed back in 2006 and they currently have around 160,000 customers. Can this lender be successful in the UK? Historically, Euro companies haven’t faired to well. The main exception would be Swift Sterling who are controlled from Malta. Other than Swift Sterling, most other firms have struggled such as Ferratum and Vivus. All lenders today face the challenge of slim profit margins through price capping and fierce competition from the majors who all advertise aggressively. This company isn’t advertising much so far, but they are listed on Money.co.uk that should be a key traffic source.
– Operations: The biggest quality seen in this service is that the loans are processed 7 days a week. As well as this, their times are always matched between 9am and 8pm. You will tend to find elsewhere that many companies trading on Sundays will have closed long before 8pm. They are also headed as being operational 365 days a year and so funding will be possible on bank and seasonal holidays.

Updates…
– Non.

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