Whether it's a short-term loan (like a payday loan) or a longer-term loan (like a mortgage), a loan is for a set amount of time. Once you've paid it back, it's done.
A line of credit is different. As long as you pay the monthly minimum (which covers your interest and some of the cash amount used), you pay the rest back how and when you want. Once you've paid it back, the credit is still there for you to use at any time.
If the amount of credit we make available to you changes at any time, we'll let you know.
How do I continue my online line of credit application if I get an error message?
Do I need a valid bank account to get a line of credit?
Why do I need a valid debit card to take out a line of credit?
Why is my application status 'pending'?
Is there any way to know before I apply if my line of credit application will be approved?
Can't find what you're looking for? Contact Us. We're happy to help!
Drafty is a credit line with a Representative 89.7% APR, and a maximum APR of 91.2%. If you draw £50 against your credit line at 89.7% APR, it would be paid off in 6 months for a total of £60. There are no additional fees. There is no minimum repayment period and no maximum repayment period as long as you continue to repay the minimum payment amount. We don't offer fixed loans under 60 days.
Personal Line of Credit - Drafty - 4.8 stars out of 5 based on 4458 reviews consolidated by Google from Trustpilot.com and Reviews.co.uk.
5 stars - " Very fast and easy to use."
*Subject to credit line approval, you will receive cash through our Express Cash Transfer option for free if supported by your bank. We can send the cash to your bank in under 90 seconds after final approval of your credit line, subject to an assessment of affordability and credit worthiness. The time that it takes for cash to appear in your account will depend on your bank's policies and procedures.
#Call charges apply. Standard charges from BT landlines, mobiles and other providers may vary.
Responsible Lending: Carefully consider whether a credit line is right for your individual financial situation. Borrowing of this type is an expensive form of credit that may be appropriate for short term financial needs but which is not appropriate for longer term borrowing or if you are in financial difficulty. All credit line applications are subject to status, terms and conditions and to satisfactory passage of checks on credit worthiness and affordability.
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