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Calculate the cost of a Creation loan
What's in this review?
- Calculate the cost of a Creation loan
- What is Creation Finance?
- Are Creation loans good?
- Key features of a Creation personal loan
- What can a Creation personal loan be used for?
- How do Creation loans compare against the competition?
- Am I eligible for a Creation personal loan?
- How do I apply?
- Creation Finance customer reviews
- Popular questions about Creation
Creation Financial Services loan rates at a glance
The Creation Financial Services Creation Loans charges 10.9% APR representative on loans between £7,500 and £15,000. Creation Financial Services offers the loan with repayment terms between 1 and 5 years and applicants can apply to borrow from £1,000 to £25,000.
Bear in mind that the advertised representative APR is the interest rate that Creation offers to the majority of applicants who request a particular loan amount. You may be offered a different APR based on your personal circumstances.
What is Creation Finance?
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 also partnered up with Argos to add personal loans to Argos finance offering.
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 not does 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 “bad” rating according to customer review platform TrustPilot, based on over 600 reviews. Many reviews suggested Creation Finance offered poor customer service and missed payment charges.
Key features of a Creation personal loan
These personal loans are unsecured – which means they’re be 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 £25,000.00|
|Loan terms||1 Year to 5 Years|
|Loan rate type||Fixed|
|Same day funding available|
|Instant decisions in most cases|
|Soft-search facility available|
|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?
There’s 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.
How do Creation loans compare against the competition?
Am I eligible for a Creation personal loan?
- 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 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 “average” rating on TrustPilot, with a score of 2.8 out of 5, based on more than 1,000 reviews, and a rating 1.6 out of 5 on Reviews.io (updated 31 March 2021). Some customers praised Creation’s customer service, but others reported issues with logging in to their online account.
Popular questions about Creation
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