PaydayUK, spend £20 get £50 Quidco?

JimLad

Hello all, apologies if this has already been posted...

Looking at quidco i saw that paydayuk give £50 cashback to new customers.

They do small loans that you pay back on your next payday

Minimum you can borrow is £80 and u get charged £20 so u pay back £100

now...

if u go through quidco, u can get £50 cashback

u pay £20 in interest

but get £50 cashback

= £30 profit

People on quidco are saying the payout is within a month. What do you all think?

madmalteaser

I'd say steer well clear, personally, but that's because of the whole payday loan thing. I just wouldn't want to get tangled up with that. Not for 30 quid anyway!

ProggerPete

That does sound pretty interesting. I'll probably give it a go. I'll be flushing all cookies first, but provided it tracks the only way things could go wrong is if you don't have the cash in your bank account when they come round to claiming their cash.

SilverScooby

Payday Uk Cashback raised to £65 until midnight 31 March, so profit on an £80 loan if the Quidco Cashback comes through is £45.
Would be good to take money off scumbags charging mind-boggling APR of 1737% !!

littlemrtinkle

i have done this before, had no problems at all

borrowed 80 paid back 100 quidco at the time was 70 , made an easy £50, easy to cancel etc!

purt

They're currently offering £65 cashback for an accepted loan. Have just signed up for one and been approved. Should be an easy £45 if it works.

Thanks for posting

jopwo_87

Thanks for the info. Think i'll give it a try tonight!

JimLad

I just tryed it and they want to verify my identification. I have to fax them my passport! Who has a fax machine these days!

elsien

Worked for me a few months back - I dithered for ages in case it all went horribly pear-shaped. The only downside was the sheer volume of junk emails from similar payday type companies - went into the hundreds for a while, and I'm usually pretty good about ticking the opt-out boxes.
Still, makes a nice change from the requests to enlarge my penis!

karie

would this have any sort of negative effect on your credit rating?

Zinger549

How do you make money from this. If you have to pay them £100 and get £50 back then surly use loose £50.