Very Loans Info (Broker) | www.very.co.uk
The funds are provided internally here by Shop Direct Finance Company Ltd. Then there is the Very Credit Card that has been popular since its release. They have teamed up here with Capital One whilst for personal loans they broker for Moneyway that we’ll look at today. With the card, the application and logins are taken on the other side. You do however receive a fully branded card. It is just a shame that they have removed the £10 bonus that was previously available (this is still available with Littlewoods). The APR is again high here at 34.9%, but Argos have gone down the same subprime route through their partnership with Vanquis.
The Very loans aren’t in significant demand compared to the card. The partner this time around is Secure Trust Bank’s Moneyway. Unsecured loan sums between £1000 and £15,000 are headed between 1 and 5 years. You will need to have a good credit score and be aged at least 21. A very small page is dedicated to this product with a calculator. The £1000 12 month charge came out at £171.68 (34.9% APR). To proceed, you are redirected over to the Moneyway website to run through the process. This loan differs a lot to the direct product that starts from £3000, has a more competitive rate (we saw 7.5%) and the starting age is also 25.
The loan interest matches the rate of their credit card. You can however access as much as £15k with this option whilst cards are capped at £1500. When spreading the cost the typical limit is set at just £1000. It is good to see that customers have plenty of choices whether they wish to spend at www.very.co.uk or somewhere else. The pricing across the range is however expensive, especially for those with no past debt problems. The future certainly looks bright for this popular web retailer that has recently expanded into luxury fashion through www.veryexclusive.co.uk. They of course benefit from plenty of TV advertising using various celebrity endorsements that is helping their user base to continually expand.