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How Do I Access Credit?

The question ‘How do I access credit?’ is one which more and more people have had to ask in recent years. As most peoples wages or benefits have failed to keep pace with the rising costs, it’s become more common to find families struggling to pay for things basic needs like energy and food.

sitting on coins

Here at CLEVR Money we encourage saving by making it as easy as possible for our members, but no matter how carefully you save, circumstances could still leave you needing to borrow, which is when the question ‘How do I access credit?’ gets asked.

Of course, there are many reasons why you might want to find out ‘How do I access credit?’ Our loans officers work really closely with our members and so we know they’re borrowing money for things such as holidays, home improvements or family events such as a wedding. Our loans start from £200 and we’re often able to help people who have been turned down by high street banks and other traditional lenders. As our loans go up to £15,000, we do have customers who we know can access credit elsewhere, but who choose to work with the credit union and support their local community.

When a member asks us ‘How do I access credit?’ we will speak to them directly to help advise the best options for them. As a small community cooperative of just 5,000 members, we know lots of our members personally. We treat every one as an individual, not simply as a set of figures on a computer screen and, while we will consult the credit scores, we know some of our members may have poor credit ratings through no fault of their own.

A couple of missed payments during a period between jobs can impact on your credit rating, for example, as could you not having a credit card or taking out a loan in the past. When a member asks us ‘How do I access credit?’ we look at their situation as a whole and make a decision based upon the big picture.

sterling pound

We are a not-for-profit organisation, and any money we do make is put back into the business, and used to improve the lives and communities of our members. It also means that the loans we provide come with a guarantee of no extra charges, fees or penalties hidden in the small print, while our not-for-profit ethos means that we can keep the interest rates we charge as fair as possible.

If you’re asking yourself ‘How do I access credit?’ then becoming a member of CLEVR Money could well be the ideal answer. We make sure that borrowing the money you need is affordable and fair, and that the process of applying for a loan is as quick and simple as possible. Whether you need a small amount to get your finances back on track, or a larger loan to fund a major expense, we can answer the question ‘How do I access credit?’ with fairness and integrity.

Representative example. Borrowing £600 over 12 months will cost £60.28 Total amount repayable is £723.36 which includes interest at 42.6% APR. The figures given above are for illustrative purposes only. The actual interest rates and repayment amounts may vary subject to loan amount and status.

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