Trusted Quid Review | www.trustedquid.co.uk

Trusted Quid

Last Update: September 3rd, 2016

About…
Address: Stadium House Business Centre, Alderstone Road, Livingston, EH54 7DN.
Branding: Trusted Quid. AKA: TrustedQuid.
FCA Licence: 673703.
From: Trusted Cash Ltd.
Launched: 2011.
Memberships: BCCA, CSA.
Related: No companies.
Website: www.trustedquid.co.uk.

Product Details…
Bad Credit Trusted Quid Loans Available?: Fair-to-good scores required.
Manage: Trusted Quid login provided via www.trustedquid.co.uk.
Offers: Instalment loans.
Opening Hours: Monday to Friday. Times not disclosed.
Sums: £100 to £250 (new) | £1500 max (returning).
Terms: 6 months.

The Pricing…
£247.82 /£300 (6) <0.459%>

Notes: Applicants must receive £1500 per month from a full time working position and bad credit would likely see a decline. We are aware that they close over the weekend. Across the week they don’t note any specific time, but a cut-off point of 5pm for same day funding suggests that they are operating between 9am and 5pm. They will call you up before making a payout.

Noteworthy…
– Amounts: Existing customers can qualify for as much as £1500. There is quite a contrast for new users though who are restricted to just £250.
– Multi-memberships: Both BCCA and CSA memberships are held here (the CSA focus on debt collection).

Updates…
– Big 2016 update has been made to the product that was originally a simple payday loan. They have now changed this to become a set 6 month period. Dropping the single month may be a wrong move since the instalment sector has become very competitive on pricing that can be enough to sway customers. We have seen multiple lenders charging less than £100 per £300 whilst the cost here is £247.82. Their past payday price was £23.40. Another big overhaul has been made to their website that was green, now white.
– Applications had to be received no later than 3.30pm that has now been increased.
– Loan amounts ranged between £100 and £150 for new applicants and £750 was the top sum.
– Minimum monthly wage of £1000 has also been raised.
– Pricing at the minimum sum included interest at £30. Fast transfers were optional add-ons at £10 for new customers. Those who had borrowed from them before didn’t have to pay this £10 charge.

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