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Thinking about a Creditstar loan? Try Moneypod instead

If you are looking for a short-term/payday loan, have you considered whether or not Creditstar is actually the best option for you?

Creditstar is a great company offering its own products but it’s only one company. You wouldn’t accept the first quote to fix your car so why should it be any different for your loan?

Because Moneypod is a broker and not a lender, we compare all the different offers from over 200 lenders – we check what they have available and find out which loan and which lender are right for you.

Let’s take a look at the difference between getting a loan with Creditstar and a loan organised through Moneypod…

 

Who are Creditstar?

Creditstar UK was founded in 2006 and is a part of the Creditstar International Group. This group delivers financial services to 8 countries around the world. This London-based lender has built up a customer base of over 500,000 people, many of them being regular borrowers.

 

What is a Creditstar Loan?

A payday loan is where you borrow money that you pay back all of your loan and the interest on it on either your next payday or within 30 days. A short-term loan, on the other hand, is a loan you take out a loan where you have up to 12 months to make the repayments.

A first-time borrower can access up to £300 for a length of 6 months. They offer a larger amount for returning customers who can expect a loan up to £700 over the same time period.

The application process takes no longer than 10 minutes and you will find out whether you have been approved within half an hour. If you agree to their offer and sign the online paperwork, you can expect to see the money in your account in the same day. Creditstar also offers this same service on weekends, at night, and even on bank holidays.

 

What are the Requirements of a Creditstar Loan?

If you would like to apply for a Creditstar loan, then they need you to meet the following criteria:

  • You must be aged at least 18,
  • You need to be a UK resident,
  • You must be employed with a regular income,
  • You must have a UK bank account and debit card,
  • You must have a mobile phone number,
  • You must have an active email address,
  • You must have good credit history,
  • No bankruptcy or visits from debt collectors in the last 18 months.

If you meet all of these requirements, then you can start your loan application at any time.

 

What’s the Difference Between Creditstar and Moneypod?

Creditstar is a direct lender whereas Moneypod is a broker. When you apply for a loan with Creditstar, they are the only ones who will consider your application. They will only offer you their own products even though there might be more suitable ones out there for you. During the process of deciding whether or not they’ll approve your application, they conduct a credit check on you. The more credit checks that you have visible on your credit record, the less likely you will be to successfully secure a short-term loan.

Moneypod can help with this problem. We will match you up with a lender who is most likely to make you an offer that you will both be happy with. This means that there’s only one credit check as part of our process even though we might find five great deals for you.

When you choose Moneypod, you get the money just as fast as you would if you had approached a lender directly and you won’t be charged any fees or any extra interest for using us. We simply ensure that the lender that you are going to is the right one for you.

 

What are Creditstar’s FCA Registration Details?

The Financial Conduct Authority is the regulatory body protecting all customers taking out a short-term/payday loan here in the UK. These important protections are:

  • Lenders aren’t allowed to charge you more than 0.8% per day (which is the same as £24 per month on every £100 you borrow),
  • If you cannot pay the money back on time, the lender can’t force you to pay a penalty fee that is worth more than £15,
  • The lenders aren’t allowed to make you pay more than twice the price of the original loan. So, if you borrow £400, you should never pay back more than £800 overall.

Moneypod (Nouveau Finance Limited) is authorised and regulated by the Financial Conduct Authority. This means that any time that you deal with us, you are protected by the rights we mentioned above. We are also entered on the Financial Services Register under reference number 727348

Creditstar is also registered with both the Financial Conduct Authority under registration number  675392. This means that any time that you deal with this company, you are protected by the above rights as well.

 

How do I Apply for a Creditstar Alternative?

If you would like to see what other deals are available to you, rather than just sticking with one lender, then all you have to do is follow a simple 3-step process with Moneypod.

First, fill in our quick online form. We will ask you for the amount of money you want to borrow and the length of time you want to pay it back over.

After you have spent a few short minutes filling your details in, we then match you up with the lender or lenders we believe suits your needs and your personal circumstances the best. If you agree to the terms of their loan and they accept your application, then it’s time to move onto the final step.

That last step is that you get your money. It really is that simple. Most of the time you can expect to have the money in your account within a few hours. If not, it will be there in the same day.

 

What are the Advantages of a Credit Broker Rather than a Direct Lender?

When you choose to go through a credit broker like Moneypod, we take out all of the hard work of searching for a lender and deliver you the best results. We can do this by consulting with our 200+ lenders that each have their own offers.

Lastly, our service is entirely free to use. We don’t charge borrowers a penny throughout the whole process. So, you will get the best deal possible in less time than it would take to find it yourself and you’ll have the money that you need as soon as possible.

 

Am I Eligible for a Moneypod Loan?

If you would like to start considering what other options are out there for you as a Moneypod borrower, then you will need to meet the criteria:

  • Be over the age of 18 years old,
  • Be in employment,
  • Be a resident of the UK,
  • Have a UK bank account that you get your wages paid into,
  • Have a working email address,
  • Earn at least £500 per month.

If you can tick all of those boxes, you can start filling in our online form straight away.

 

Why Choose a Loan from Moneypod?

As a broker, we do all of the searching for you. It could take you weeks to find the loan that suits your specific needs the closest so let us help out. Thanks to our network of over 200 lending partners, we’ll be able to find a lender that provides you with the money that you need on the terms you want.

You won’t be charged any more by not going to a lender directly and choosing Moneypod instead. In fact, some lenders may even give you a better deal if your individual circumstances match their particular lending criteria. We cannot guarantee that this will happen for everybody though, it varies from borrower to borrower.

We make the loan work for you, not the other way around.

If you would like to start comparing what’s out there in terms of the best short-term/payday loans, then click here.  After you fill out our short form, you could see the money in your account in as little as one hour!