Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.
Loans like Credio
Credio was a popular short-term lender offering loans of £50 to £1,000 over terms of 1-4 months, but it stopped issuing loans in 2018.
Online lenders that offer similar loans to Credio
Keen to distance itself from the world of payday loans, Credio encouraged its customers to opt for a manageable instalment loan rather than taking out an expensive payday loan and then “rolling it over” – i.e. requesting longer to pay back the loan. Repaying a loan little by little usually means more affordable repayments, but it can make for a more expensive loan overall.
Credio loans were available online, with loan decisions taking up to 72 hours and successful applicants notified by email and/or text. The loans were repaid by direct debit.
Despite this being a relatively turbulent market, a number of similar lenders are still trading – offering fast and convenient but expensive short term loans online. You can browse them in the list above or alternatively estimate loan costs using the tool below.
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