Mini Credit

What you need to know:

The first thing we REALLY like about Mini Credit is the payday loan slider available from their homepage and positioned in other strategic locations throughout the site. These things are simply a lifesaver and offer unparalleled levels of transparency – a similar system is available on Wonga and it’s useful because it lets consumers know EXACTLY what they will be due to repay and when.

Mini Credit also offers borrowers the opportunity to apply for a payday loan via SMS. This is a feature that has been slowly creeping into the arsenal of a number of lenders as late, the company leading the line at the moment is Txt Loan.

Mini Credit offers loans in increments of £10 from a value of £100 and up to £200 – they offer loans up to a value of £1,000 for returning customers. Applying by mobile phone is relatively easy, Mini Credit will send you a designated pin number upon receipt of your application. What’s more, they promise a decision within 15 minutes of receiving your application.

Criteria:

In order to apply for a payday loan with mini credit you must be over the age of eighteen years old, in full time employment and have a designate UK Bank Account/Debit Card. You must also have a mobile phone and be earning over £750 per month after tax.

Customer Service and Complaints:

The reviews on mini credit are relatively positive with the majority of applicants happy with the service on offer. The one major concern raised is with the registration fee – currently new applicants must pay a £1 fee to register with Mini Credit and this is a non-refundable fee (should your application be rejected).

Overall:

Mini Credit offers a very viable lending service and one that has been loosely modelled on that of Wonga.com. Mini Credit certainly appears to be up there in terms of trying to offer their customers the fastest and most convenient payday loans service available.