The Quick Cash Club Review | www.thequickcashclub.com
Address: Suite 9, Pine Court, 36 Gervis Road, Bournemouth, BH1 3DH.
Branding: The Quick Cash Club. Also known as: TheQuickCashClub.
FCA Licence: 645294.
From: Chandler Hart Ltd.
Related: No companies.
Available: Monday to Friday (9am/6pm).
Bad credit considered: Yes.
Manage: Quick Cash Club login provided via www.thequickcashclub.com.
Offers: Guarantor loans.
Pricing: £224.58/£300 (6 months) | £491.20/£500 (12 months).
Sums: £100 to £750 (new) | £750 max (returning).
Terms: 6, 9, 12 or 24 months.
Notes: A few samples prices were pulled from their calculator. We are usually concerned with the charge of a £1000 sum over 1 and 2 years, but this isn’t possible here. If you double up the £500 cost though the charge would be £982.40 that is an expensive price considering that a guarantor must support the application. This backer must be 21+, be earning a minimum income of £800 and have a good score, but they can be a tenant. The complete APR spread from this lender sits between 304% and 842%.
– Amounts: They may not go too high, but they do provide manageable small sums starting at £100. In their copy they note £50 as being the smallest figure, but this can’t be selected on the application.
– Efficiency: This product is setup more along the lines of a guarantor payday loan. Since there is less value in the funds issued, they are in a position to underwrite quickly and issue same day payouts. For this to happen you’ll need to complete the application before 4pm between Monday and Friday. This company has provided account servicing since launch that is handy for their users.
– Eligibility: Due to the smaller sums they can also take more risks. They don’t dig into specifics, but they basically just state that the applicant mustn’t be currently bankrupt that will be checked when they run the credit check.
– Terms: This is not a flexible product when you consider that most sector lenders allow you to borrow for several years. The minimum 6 month term is however a good starting point and you can settle at any earlier point.
– Amounts were set as £50 to £500 and so they have increased the top sum. They do still quote £50, but a full hundred is the minimum selectable amount.
– Pricing has risen. The £300 6 month cost was £155.82. They did at one time display a £100 monthly charge at £17.73, but this was removed.
– There was no fixed terms, but they now display the 4 repayment selections.
– Just to provide a few added notes on the company owner, they now have additional trading names listed on their licence page including Back2Back Loans and TwistCredit. There was no sign of these brands being active, but they may be unleashed soon. If you are unaware of Chandler Hart Ltd, the owner was famously an employee at The Richmond Group and was involved in the development of FLM Quick that this service is modelled on.