Caught in The Middle? Apply For a Fair Credit Loan

The One Stop Money Shop can help you get a fair credit loan if you need to borrow £400 to £2500 for an important purchase or expense.

 

If you have fair credit, you may find yourself caught in the middle between good credit and bad credit loans – and you may find it tricky to get mainstream credit cards or personal loans from banks and well known providers.

 

In addition, you may not want to pay the higher rates associated with bad credit loans (such as payday loans) or have to use collateral to be approved. 

 

At One Stop, we can help. We assess each application on a personal basis and we will approve loans with fair credit if you have a stable income, employment and are committed to paying on time.

 

Once approved, we offer funds available on the same day of approval and transferred to your bank account in one lump sum.

 

Check your eligibility in 5 minutes when you apply online, using the button provided.

 
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  • APR 295.60%
  • Total Borrowed: £500
  • Total Repay: £962.52
  • Total Interest: £462.52

Representative Example: £500 loan repayable over 12 months £81.25 per month total amount payable £975.00 Representative 295.60% APR fixed

 

Key Features

  • Borrow £400–£2,500
  • Repay over 6–24 months
  • Direct lender
  • Same-day approval and funding
  • Repaid in equal monthly instalments
  • Must be UK residents
  • Must be employed (full-time or part-time)
  • Bad credit and CCJs considered
  • 100% online application

Fair Credit Loan Repayment Example

Representative Example: £800 loan repayable over 12 months £126.67 per month total amount payable £1520.04 Representative 272.50% APR fixed

 

We can help with:

  • Fair credit unsecured loans
  • Fair credit personal loans
  • Loans for credit scores under 600
  • Loans for credit scores under 500

What is Considered To Be a Fair Credit Score?

A fair credit score in the UK is typically a 721-880 score on Experian, 566-603 on TransUnion, or 439-530 on Equifax.

 

People with fair credit scores may have:

 

-Limited credit history

-Some missed or late payments

-High credit utilisation (have lots of credit open)

-A mix of positive and negative factors

 

Consumers often find themselves with fair credit scores if they have taken on a lot of other debt in recent months, or have missed the odd credit card or loan repayment. Equally, people may find that they have a fair credit score if they previously had bad credit and are building up their score.

 

Credit Reference Agency

Bad / Poor

Fair

Good

Experian (0–999)

0–720

721–880

881–960

Equifax (0–1000)

0–438

439–530

531–670

TransUnion (0–710)

0–565

566–603

604–627

 

 

 

What Are Common Reasons For Fair Credit Loans?

-Car repairs and fuel

-Household repairs

-Plumbing problems

-Household bills

-Debt consolidation

-Pay rent

-Medical and vet bills

-Funeral expenses

-Child expenses

 

 

What is a Fair Credit Personal Loan?

A fair credit loan offers finance for borrowers who have credit scores that fall in the “fair” range. Whilst mainstream banks and high street lenders may be more cautious with fair credit customers, there are several lenders who are willing to take a view on fair credit and the loan terms are adjusted accordingly:

 

  • Interest rates may be a little higher
  • Smaller loan amounts
  • Shorter repayment terms

As a personal loan, the borrowing range may be £500, £1,000, £1,500 or £2,000 – but people with fair credit may apply for larger amounts for car finance, credit cards and mortgages.

Are Fair Credit Loans More Expensive?

For personal loans with fair credit, the rates may be slightly more expensive than a good credit loan because the lender has to manage a potentially higher risk of default. 

 

The typical interest rates based on your credit score are displayed below:

 

Credit Score

Typical Representative APR*

Good/Excellent

6%–10%

Fair

12%–25%

Poor

25%+

 

There are some other factors that come into play, including:

  • How many other loans you have open
  • How much credit you are actively using
  • If you have missed repayments for other loans and whether these are still in arrears

In addition, if you have fair credit and can offer added security to the lender (such as a property, vehicle, jewellery) this could reduce the rates you are charged. This is known as a collateral or secured loan.

 

Can I Get a Fair Credit Loan With Guaranteed Approval?

No, there are no lenders that offer fair credit loans with guaranteed approval, since each provider will carry out sufficient credit and affordability checks before approval.

 

All customers looking for short term loans in the UK will usually undergo a credit score to assess their creditworthiness. 

 

By understanding your income, expenses and current situation, the lender can decide whether you are suitable for a loan and what are the right terms to offer.

How Can The One Stop Money Shop Help With a Fair Credit Loan?

The One Stop Money is the perfect partner to help you get a loan with fair credit.

 

All credit scores considered – We understand that keeping the perfect credit score is not easy, especially with constant bills and life’s little emergencies. We take a personal view on every application we receive and have tailored our business model to be able to offer fair credit loans, also loans for bad credit and CCJ loans too.

We are a direct lender – As a direct lender, we process your application from start to finish and there are not other middlemen or intermediaries that you will be working with. You can have peace of mind that you are working with One Stop in each step, from the application, funding and collections – and our team are just an email or phone call away if you need assistance.

Transparent – With the help of our loan calculators, you can see exactly how much you are being charged and what are you going to repay each month. We believe transparency is important so that there are no surprises. Once approved, you are sent a loan agreement outlining all the key terms and costs of your loan and we will send you reminders by email and SMS on the days leading up to each repayment so that you know what to expect.

Affordable – We have seen the payday loan problem first hand and understand that high interest loans and short repayment terms do not help borrowers. Our pricing is very competitive in the market and we are pleased to offer longer repayment terms to help our borrowers get their finances on track.

 

5-star rating – We have racked up hundreds of 5 star reviews from happy customers who would recommend our services.

fair credit loans

What is The Eligibility Criteria For a Fair Credit Personal Loan?

  • Age: You must be over 25 years old.

  • Residency: You should be a full-time resident of the UK

  • Employment: You need to be employed either full-time or part-time

  • Affordability: You must be able to afford the monthly repayments and make repayment on the scheduled date

  • Banking: You must have a valid UK debit account for funds disbursement and repayment collection

  • Contact Information: A working mobile phone number and email address are required for loan verification and communication purposes.

What Information Do Lenders Request With a Fair Credit Loan?

  • General Details: You must provide your full name, age, residential address and up-to-date contact details.

  • Employment: You need to provide your job title, employer’s name and length of employment.

  • Income and Expenses: You must disclose your monthly income and regular household expenses to assess affordability.

  • Credit Score: A credit check will be carried out through Experian, Equifax or TransUnion to assess your creditworthiness.

  • Bank Details: You must provide valid UK debit account details for verification, fund disbursement and repayment collection.

Other Useful Guides

Does having loans impact my credit score?

How to improve your credit score

What is a fair credit score?

 

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    Bad Credit & CCJ loans considered

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  • montly-payments

    Flexible repayment terms

Frequently asked questions

How Much Can I Borrow With a Fair Credit Loan?

We offer loans ranging from £400-£2500 loans and the amount you can personally borrow will be evaluated based on having a fair credit score, your current outstanding debts, income and affordability.

Will Making an Application Impact My Credit Score?

No, we run a soft search credit check in the first place to assess your eligibility, and this will not impact your credit score and chances of being approved for any other future financial products. As your long progresses, we may run a hard credit check, but this does not negatively impact your score.
 

How Soon Can I Get a Fair Credit Score Loan?


We can process same day funding for customers that are approved by 3:30pm that day (Monday to Friday). Once approved, the funding is instantly into your bank account.

We always endeavour to approve and fund loans as quickly as possible and encourage applicants to be on hand by email or phone if we require more information.

Can I Get a Fair Credit Loan If I am On Benefits?

No, we do not offer loans to people on benefits or those who are unemployed. To be eligible with The One Stop Money Shop, we require customers to be employed, either part-time or full-time and earning a regular income through work.
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Will Paying Off My Loan Improve My Credit Score?

Yes, paying off any loans or debts will generally improve your credit score. However, we do not recommend using our loans as a means of building up your credit score.

What Happens if I Miss a Repayment?

You will usually have up to 24 hours to respond if you have missed a monthly repayment. Otherwise, your loan could be subject to late fees, penalties, added interest and cause a negative impact to your credit score.

If you are having financial difficulty, we encourage you to speak to our team as early as possible so that we can offer you some assistance.

 

Need Help?

We believe in providing transparent information so you can make informed decisions about your borrowing needs. If you have any questions or require further clarification regarding the cost of borrowing money online with us, our friendly team is always available to assist you.

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It takes less than 5 minutes, and you’ll get a fast loan decision. If approved, we can usually pay the money into your account the same day*. We’re a direct lender not a broker, so our loans don’t require any security to approve.

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