Do short term loans affect your credit rating?

11th November 2020

Every adult in the UK has a credit file which is essentially a log of your borrowing activity. It helps lenders assess your creditworthiness to make responsible lending decisions. There are things you can do to improve your credit score, and equally there are things you might have done or continue to do which reduce your credit score.

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WARNING: Late repayment can cause you serious money problems. For help, go to

How much would you like to borrow:

How long would you like it for?
3 months
6 months

Your monthly repayments are:

Total amount to be repaid:
Annual percentage rate:
  % APR

Representative Example: £250 loan for 3 months at a fixed interest rate of 290% pa. Total amount payable is £321.51 in monthly instalments of £93.26, £124.38 and £103.87. This is based on the amount of credit plus interest, no other fees apply. Representative 1288% APR

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