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anyone used a pay day loan?

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Hi has anyone used a pay day loan?im wanting some cash and currently have funds going from my paypal to my bank but will take a few days. just wondering if these are to be avoided? thanks Read More
strobez1977 Avatar
7y, 8m agoPosted 7 years, 8 months ago
Hi has anyone used a pay day loan?im wanting some cash and currently have funds going from my paypal to my bank but will take a few days.

just wondering if these are to be avoided?


thanks
strobez1977 Avatar
7y, 8m agoPosted 7 years, 8 months ago
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#1
i used them just for the £65 quidco cashback - i think it will show on your credit score but they were fine borrowed £80 - paid back £100 with the cashback a profit of £45 :thumbsup:

ps. dont know how much they are offering atm ;-)
#2
wht one did u use
#3
strobez1977
wht one did u use


will check brb
#4
it was paydayuk through quidco - they are now offering £40 cashback :-D
#5
Charlie Scene
i used them just for the £65 quidco cashback - i think it will show on your credit score but they were fine borrowed £80 - paid back £100 with the cashback a profit of £45 :thumbsup:


Strange, I worked that out to be a loss of £20? Perhaps my maths aint what they used to be.

Perhaps I'm a bit hasty here, hang on whilst I get my head around it!
#6
deek72
Strange, I worked that out to be a loss of £20? Perhaps my maths aint what they used to be.

Perhaps I'm a bit hasty here, hang on whilst I get my head around it!


Borrowed £80, then paid back £100 (without spending any of the loan I'd guess)
so loss of £20
but got £65 cashback, £20 to cover the earlier loss £45 profit.
#7
im wanting to borrow £180 so was wondering what the total i would have to pay back inc using quidco etc..,also how long does it take to get the money?
#8
natversion1
Borrowed £80, then paid back £100 (without spending any of the loan I'd guess)
so loss of £20
but got £65 cashback, £20 to cover the earlier loss £45 profit.


Soz, I missed the quidco bit, you're right £45 prof.
Quidco shows only £40 now so your profit would only be £20. Not sure it's worth the (quidco) gamble though for the profit alone, unless you really needed the loan.
#9
deek72
Strange, I worked that out to be a loss of £20? Perhaps my maths aint what they used to be.

Perhaps I'm a bit hasty here, hang on whilst I get my head around it!


You get £80 for the loan. You get £65 cashback. = £145

You pay out £100.

You get £45 more in than you pay out.
#10
deek72
Soz, I missed the quidco bit, you're right £45 prof.
Quidco shows only £40 now so your profit would only be £20. Not sure it's worth the (quidco) gamble though for the profit alone, unless you really needed the loan.


Lol I agree I'd say maybe for £45 but I doubt I'd bother for £20 personally
#11
strobez1977
im wanting to borrow £180 so was wondering what the total i would have to pay back inc using quidco etc..,also how long does it take to get the money?


You'd pay back £225. Then £40 back from Quidco so the loan would cost you £5, assuming Quidco tracked/paid.
#12
£50 cash back through cashback kings
#13
deek72
Strange, I worked that out to be a loss of £20? Perhaps my maths aint what they used to be.

Perhaps I'm a bit hasty here, hang on whilst I get my head around it!


bit hasty there deek! :-D

i did it purely for the cashback, i think this guy actually needs the loan though :thumbsup:
#14
I have used Wonga in the past.
They pay you out in 2 hours.
Have a ridiculous apr (something like 1500%)
but bear in mind if its 50£ for 10 days its maybe 65£ to be paid back.
#15
Wow their typical apr is only 1737%. Be better to see if your bank to offer a overdraft on a current account? Plus would you want this on your credit report as well?

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