Creation Loan

creditcardhelp11

Hi all,

Has anyone had a personal loan from Creation? - creation dot co dot uk

I understand that their credit cards are generally easier to get so I wonder if the loans are too? 13.9%APR is quite good.

Anyone?

KingElvis

Depends on how "easy" you need them to be, they're not sub prime that's for sure.

Peelerfart

1s 13.9% what's on offer, or is it "starting from as low as 13.9%" cos if you aint squeaky,you aint going to get it.

CHR15

To get a headline rate loan, you need a perfect credit file (along with a fair bit of good luck).

If you have a perfect credit file, why not apply with someone offering 6.1% ?

If you are even considering this nonsense, you do not have a perfect credit file so you will not get the headline rate. Already we can see you are going to get offered significantly more.

The best things in life are difficult to get (ever tried getting into a coconut on a Desert Island with no tools??). You have to work hard to get the best.

If it is easy to get, there is a catch. In your case the catch is a huge APR and a company who already have an aggresive mechanism in place to take the money back when you realise what a stupid idea it was to borrow from them (and can't repay it).

creditcardhelp11

Well before you make such a sweeping statement (indicating that I wouldn’t pay) I would understand what you are saying. 13.9% APR is not huge, yes it is more than the lowest rates available but as you don’t seem to know, in order to advertise a 6.1% APR then only 51% of people need to be given that rate. You cannot define a perfect credit score so please don’t use that idea as you’ll only get disappointed. There are a number of factors to take into account when a bank determines a credit score for your application and those vary between creditors and are not published. There are some people with high street bank loans paying in excess of 25% even though they have no adverse credit recordings. This may be due to risk or income levels but it’s impossible to say. Some people will just never get the lowest rate for a loan because they simply will never meet the credit score as set by the provider. It does not mean that they are people who do not pay or people who are bad in any way. So before you judge in future, stop, think and then type.

Apples2

creditcardhelp11 wrote: »

Well before you make such a sweeping statement (indicating that I wouldn’t pay) I would understand what you are saying. 13.9% APR is not huge, yes it is more than the lowest rates available but as you don’t seem to know, in order to advertise a 6.1% APR then only 51% of people need to be given that rate.

Come on then brains... How many succesful applicants do Creation have to give 13.9% to??
I'll give you a clue...... It's exactly the same percentage a proper lender has to give their headline ate to!!

creditcardhelp11 wrote: »

You cannot define a perfect credit score so please don’t use that idea as you’ll only get disappointed.

I don't think it was defined, it just said you needed one.

creditcardhelp11 wrote: »

There are a number of factors to take into account when a bank determines a credit score for your application and those vary between creditors and are not published.

You don't say?? That's no revelation, which is why nobody on here (as far as I know), has ever tried to be specific why an applicant is rejected, it's just best guesses.

creditcardhelp11 wrote: »

There are some people with high street bank loans paying in excess of 25% even though they have no adverse credit recordings.

They are stupid....FACT..

creditcardhelp11 wrote: »

Some people will just never get the lowest rate for a loan because they simply will never meet the credit score as set by the provider. It does not mean that they are people who do not pay or people who are bad in any way. So before you judge in future, stop, think and then type.

It means they don't understand money, or credit files. If they did, they would know how to make it look more attractive and subsequently how to obtain a better rate.

You started this post but then decide to flame the very people taking time out to help you. With your attitude it is easy to see why this ridiculous loan is appealing to you.
Give me the money now, anyone, at any rate just gimme gimme gimme...

KingElvis

You can't help some people.

Brb

I have a £3k interest free loan with Creation. Six months into it I start receiving letters for pre-approved loans for 8.5k at 7.something%. Might be tempted after I've paid off the interest free loan to get a car.

I've found them to be ok. Answered phone in timely fashion when I rang up to get details on how to overpay.

creditcardhelp11

Well done you and thanks for the nice and constructive comment as opposed to those other psycho responses.

DCFC79

creditcardhelp11 wrote: »

Well done you and thanks for the nice and constructive comment as opposed to those other psycho responses.

Nothing wrong with the replies given

rock-on_2

If you can avoid using Creation then do. With this lot if there is even the slightest problem, whether on your part or theirs, they hound you with phone calls which are not recorded despite what they say, and any attempt you make to clear things up just falls on deaf ears. When a problem is due to a mix up not of your making, they deny you any rights to suspend contact until problems can be sorted out. Probably other lenders are the same, I don't know as I don't borrow, but this lot really are the pits. In your own best interests please shop around, Creation is certainly not one of the best companies to deal with. Have a look at other forums to see what problems loads of other people have had with them.