MyJar Review | www.myjar.com
Address: PO Box 6040, Westcliff-on-Sea, SS1 9TE.
Branding: MyJar. AKA: My Jar.
FCA Licence: 673214.
From: MyJar Ltd.
Launched: 2013 (2009 as TxtLoan).
Related: No companies.
Bad Credit MyJar Loans Available?: Yes.
Manage: MyJar login provided via www.myjar.com.
Offers: Instalment and personal loans.
Opening Hours: Monday to Friday (8am/8pm), Saturday (8am/6pm) and Sunday (9am/6pm).
Secure (SSL): Yes.
Sums: £100 to £3600 (new and returning).
Terms: 3, 6 or 12 months.
£22.50 /£100 (30) (with early settlement) <0.750%>
£144.07 /£300 (3) <0.534%>
£234.56 /£300 (6) <0.434%>
£804.52 /£1000 (12) <0.220%>
Notes: Existing customers can receive 24/7 funding. The 3 Jars are £100 to £900 (3m), £150 to £1800 (6m) and £250 to £3600 (12m).
– Flexibility: There has been a series of changes here over the years. They originally had a fixed 15 day term at TxtLoan. This later changed to 18 days. Then in early 2015 they adapted to offer any single day up to 3 months. A further change saw 1 to 30 days or 3 months fixed with 6 and 12 month repayments available to return users. 3, 6 or 12 are the newest levels for everyone. Early settlements can be made where interest is charged up to that day.
– Operations: The customer service team is live every day. Once a loan has been received here, more cash is pre-approved and this can be requested 24/7. Instant online loans are rarely available this quickly.
– Profile: TxtLoan was the market leading provider of text loans. Through that identity and the new name they have managed to grow swiftly through word of mouth with the aid of lots of positive feedback on review sites alerting others to their highly efficient service. We did notice that a TV ad campaign was finally ran in early 2016. The total user base is unknown, but they have issued over 2 million loans to date.
– 2016 has seen a few key changes. The sum caps were £1000 (new) and £2500 (return). They offered short terms (1 to 30 days) and the Monday/Friday times were (7am/9pm). Their address has also changed.
– Amounts were restricted at £100 for first time users. Credit limits had to be climbed that could eventually rise to £500. After an update, newcomers could choose up to £300 with the same £500 being the max sum. When Ladder was rolled out £1000 (new) and £2500 (return) were set as the new limits. This has changed again.
– Ladder is the name of this updated product whereby you get the extra options. This recent development was Discussed Here. Edit, this name isn’t used now.
– Pricing was originally fixed at £17/£100 over their 15 day repayment. In the modern day there are 3 daily interest levels (0.75%, 0.65% and 0.35%).
– Terms have been revamped many times that was discussed above. From starting with a simple fixed short term, they have become one of the most flexible lenders around.