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Credit scores play a major role in how lenders assess applications for loans, credit cards, mortgages, and even mobile phone contracts. In the UK, credit scores are not issued by banks or the government, but by three main credit reference agencies (CRAs): Experian, Equifax, and TransUnion . Understanding how these credit scores work — and why they differ — can help you make better financial decisions. What Is a Credit Score? A credit score is a numerical summary of how you ma

If you receive Personal Independence Payment (PIP) , you may wonder whether it’s possible to get a loan in the UK. The short answer is yes, it can be possible , but approval depends on several factors beyond simply receiving PIP. This guide explains how PIP affects loan applications, what lenders look for, and the options available — while highlighting important risks to consider. What Is PIP? Personal Independence Payment (PIP) is a non-means-tested benefit  designed to help

If you’ve ever checked your credit score online and wondered whether it’s “good” or “bad”, you’re not alone. In the UK, your score can vary depending on which credit reference agency (CRA) you use — Experian, Equifax or TransUnion. Each agency uses its own scoring range, and that means the definition of a bad credit score  depends on who you ask. This guide breaks down what counts as a bad score with each agency, how lenders actually interpret your credit file, what causes a

Short-term loans remain a popular way for UK consumers to manage sudden costs or temporary cash-flow gaps. While the cost of borrowing has risen in recent years, new survey insights show that many households still turn to short-term credit because traditional lending options are slower, harder to access, or not suitable for urgent one-off needs. Below we break down the top reasons UK consumers borrow short-term loans , based on recent survey data and current market trends. 1.

Need quick cash for an emergency? Discover whether a short-term loan or a credit card is the better choice for UK borrowers, including costs, speed, and repayment options. Introduction Emergencies can strike at any time – a broken boiler, car repair, or unexpected medical bill. When you need cash fast in the UK, you might wonder: should I use a credit card or take a short-term loan?  Both options have pros and cons, and the best choice depends on your financial situation, rep

Many people in the UK rely on benefits such as Universal Credit, ESA, PIP, Housing Benefit or Child Benefit. When an unexpected expense appears — a broken appliance, urgent travel, or a car repair — the question often is: “Can I get a short-term loan while on benefits?” The short answer is: yes, it’s possible , but approval depends on affordability checks, income stability, your credit history, and the lender’s own criteria . Below is a clear, safe, and up-to-date guide to ho

Why it matters, how to do it in minutes, and red flags to avoid. When you apply for credit in the UK — whether it’s a short-term loan, personal loan, credit card, or any form of consumer finance — the lender must be authorised by the Financial Conduct Authority (FCA) . Borrowing from an unauthorised lender can leave you unprotected, at risk of scams, and without access to free dispute resolution through the Financial Ombudsman. The good news? Checking whether a UK lender is F

Short-term loans are popular in the UK for covering urgent expenses — but many borrowers worry about how credit checks work and whether applying will damage their credit score. The truth is that lenders use two different types of credit searches : soft checks  and hard checks . Understanding the difference can help you compare lenders confidently, protect your credit rating, and avoid unnecessary declines. This guide explains how short-term loan credit checks work in the UK,

Short-term loans can help when you need money quickly — for example, to cover an unexpected car bill, urgent home repair or a short-lived cashflow gap. But they’re also one of the most expensive forms of borrowing in the UK. That’s why understanding how much you should actually  borrow  is one of the most important decisions you can make before applying. This guide explains what responsible borrowing really means, how lenders assess affordability, and how to work out the righ

Short-term loans can be a fast way to cover an unexpected expense, but they also come with important risks. If you’re considering borrowing in the UK, it’s essential to understand how these loans work , what the FCA regulates , and what protections you have as a consumer . This guide explains everything you need to know to make a safe, informed decision. What Is a Short-Term Loan in the UK? A short-term loan is a type of credit typically repaid over 1 to 12 months . These loa

Payday loans in the UK have changed dramatically over the last decade.