Quidco & Payday uk question

Thepopster

I have my own quidco account which i successfully received £60 cashback on getting a pay day loan.

But i am looking into getting another one for another £60..

I was thinking of setting my mum up an account. BUT would i still get the cashback if i went through her account.. got the pay day loan into MY bank account but put the quidco BACS payment into her account?

Does that count as another fully set up account nothing to do with me?

chuckley

both quidco acc's would be shut down...

to get away with it, it would have to be FULLY done on her details.

littleange

I'm not sure they'd close the accounts, but the cashback may be declined.

moongarden

seriously those PayDay loans are really expensive anyway. Could you not get a loan from somewhere else cheaper even deducting the cashback?
Maybe ask on the Debt Free Wanabe forum to see if anyone can suggest an alternative.

gazza975526570

The OP though maybe doingit solely to take advantage of the cashback - not for the actual loan itself

COOLTRIKERCHICK

i was thinking of doing this purely for the cashback.. but when i looked the cashback on quidco was £20 and its £45 on we promise to

if you want a referral link pm me...

geordie_joe

moongarden wrote: »

seriously those PayDay loans are really expensive anyway. Could you not get a loan from somewhere else cheaper even deducting the cashback?
Maybe ask on the Debt Free Wanabe forum to see if anyone can suggest an alternative.

I think the OP may just be doing it to make a profit. There were some people on another board talking about it months ago. Get a loan, through Quidco, for £100 and pay back £120 but get £60 cashback from Quidco making £40 profit.

Several had said they had taken the loans, but so far none have said they got paid from Quidco.

I seriously doubted that they would ever be paid. The reason being payday loans rely on you being sucked into getting more loans. You borrow £100 one month, and pay back £120 the next. Then you are starting the next month £120 short, so you will (they hope) need another loan to cover the short fall. And, of course, the following month you are short again, so take out another loan. etc. etc.

If they are paying £60 for each new "customer" then that customer would have to take out 3 x £100 loans (and pay back £360) just for them to break even. I doubt they would pay affiliate commission until the "new customer" had taken at least 4 x £100 loans. It would be economical suicide for them to do anything else.

deanos

Just use Cashback Kings, no £5 a year fee and anyone can use your account, also use there cashback promise

http://www.cashbackkings.com/payday-loans/bargains/m6574

http://www.cashbackkings.com/hcp

crapwithcash82

geordie_joe wrote: »

I think the OP may just be doing it to make a profit. There were some people on another board talking about it months ago. Get a loan, through Quidco, for £100 and pay back £120 but get £60 cashback from Quidco making £40 profit.

Several had said they had taken the loans, but so far none have said they got paid from Quidco.

I seriously doubted that they would ever be paid.

Hi All, I did this back in August just to get the £40 "profit" cashback and it worked and I have received the money from Quidco. My only advise would be if you are doing this, definately be careful about the date you tell them you get paid.

My pay hits the bank on the 25th and they took the £120 back on the 23rd!! Luckily a friend had already done it and been caught out so I said I got paid on the 22nd so that they didn't mess up my bank account. So long as you don't spend the £100 they deposit and you have £120 for them to take back out, I didn't have any problems and ended up £40 up - all good for me!

Grade_A_Reject

Just had my cashback refused by Cashback Kings for a Payday loan application made in June last year.

** 1 Jan **
Unfortunately we have not received commission for this transaction and will therefore be unable to award cashback on this occasion.

We cannot pursue this claim any further with the merchant, but we do monitor the performance of our merchants in responding to claims and, where appropriate, we will remove them from our site

£80 loan with £100 to repay hoping to have bagged £45 cashback giving a £25 profit. Was worth a punt. I wouldn't bank on getting the cashback so only do it if you can afford to throw the "cost" of the loan away.

Looks like Payday are even slimier than they get credit for.

[edit]

Just spotted this on Cashback Kings

Payday Loans - Cashillion Payday (Suspended)

mandy12

hi, i did payday loan through quidco made 50. profit