You might not have heard of Creation Financial Services – it’s probably not what you’d call a household name. But it’s actually the outfit behind the store cards of some of the UK’s biggest names in retail.
Creation says that its customers don’t want complicated products, and so it prides itself on providing fixed-rate personal loans with no hidden tricks or catches, promising no surprises down the line.
Are Creation loans good?
Creation Finance loans have a relatively high interest rate compared to similar personal loans, but do not charge any upfront fees or early repayment penalties. You can also normally get an instant decision on your loan application.
In terms of customer reviews, Creation Finance currently has a “excellent” rating according to customer review platform TrustPilot, based on over 63,000 reviews. Many reviews praised Creation’s customer service and rate terms.
Creation Finance provides credit to many well-known retailers, insurance brokers and motor finance companies such as Currys, DFS, Dreams and more.
How do Creation Finance loans compare against the competition?
See today's rates from across the personal loan market.
These personal loans are unsecured – which means they’re based on creditworthiness, rather than the use of property or other assets as collateral. Here are some of the other key things to know about Creation personal loans:
Loan type
Unsecured Personal Loan
Loan amounts
£1,000.00 to £30,000.00
Loan terms
1 year to 5 years
Loan rate type
Fixed
Fee
Varies
Same-day funding available
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methods
Direct Debit
What can a Creation personal loan be used for?
Car purchase. Compare personal loans as an alternative to car finance.
Home improvements. Extend your house, buy new fixtures/fittings or landscape your garden.
Holiday. Take the that longed-for trip.
Consolidating debts. Move multiple debts to one fixed-rate loan.
Other. From a wedding to a boat – there’s not much you can’t use a personal loan for.
There are a few things you can’t do with a Creation personal loan however:
Business investment or expansion.
Speculative investments or timeshare purchases.
Funding criminal activity.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.
Am I eligible for a Creation personal loan?
You can apply for a Creation loan if you meet the following criteria:
You must be a permanent UK resident and have been a UK resident for at least 3 years
You must be between 23 and 70 at the date of application
You must have an annual income of at least £12,000
You must have a bank or building society current account
You will not be eligible (and should not apply) if any of the following criteria apply to you:
You are a student, homemaker or unemployed
You are making a joint application
You have an adverse credit history, such as missed or late payments, county court judgements (CCJ) or bankruptcy
How do I apply?
If you think that a Creation personal loan is the right choice for you, there are five steps to the application process:
Use the Creation personal loans calculator to get a quote for the monthly cost of your loan, depending on the amount borrowed and the repayment term.
Complete an online application – this should take about ten minutes.
Creation will use the information you provide, together with details from a credit reference agency, to assess your application.
If your application is accepted, Creation will send you two copies of your loan agreement, which you must sign and complete in the highlighted areas. One copy must be returned to Creation by post.
Once Creation has received your signed agreement, the money will usually be paid into your bank or building society account within 5 working days (excluding weekends or bank holidays).
Creation Finance customer reviews
Creation has received mixed reviews from customers, according to review sites like TrustPilot and Reviews.io. It currently has an “excellent” rating on TrustPilot, with a score of 4.7 out of 5, based on more than 63,000 reviews, and a rating of 1.5 out of 5 on Reviews.io (updated July 2024). Some customers praised Creation’s customer service, but others reported issues with logging in to their online accounts.
Popular questions about Creation
Creation is the trading name of Creation Consumer Finance Limited. Creation is part of the global banking group BNP Paribas and is regulated by the Financial Conduct Authority (FCA).
Creation Finance provides credit to many well-known retailers such as Currys, DFS, Dreams and more. This is why Creation will appear on your bank statement in relation to your finance payment amount.
In order to apply for a Creation personal loan you will need to have the following information ready:
Your bank sort code and account number
Your home telephone number
Your address details for the last 3 years
Your employer’s name and address
Details of your monthly income, rent or mortgage
If you apply online, Creation will usually let you know immediately whether your application has been successful. If more checks are needed, Creation will contact you by email within 1 – 3 working days.
If your loan application is successful, Creation will transfer the funds into your bank account within 5 working days of the signed loan agreement being received. This excludes weekends and bank holidays.
Yes. You can pay off all or part of your loan early at any time, but you will need to contact Creation to arrange repayment. For full repayment Creation will calculate a repayment amount, which is valid for 28 days. For part repayment you can pay more than your required monthly payment at any time during the loan, but you need to let Creation know that you intend to do so.
No. Your loan is a fixed monthly repayment, which means that the rate is fixed for the term of your loan.
Creation uses 128-bit encryption software to ensure online loan applications are protected, so online loan applications are highly secure.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.
Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.
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