Cash Converters Payday Loan

Angelight

Has anyone taken out payday loans with Cash Converters before please?
I got one for the first time a month ago for £70, and the last weekly installment is due tomorrow. I'm considering renewing the loan, as it would come in handy for Christmas. What I'd like to know is will the amount I can borrow remain set at £70, or is it likely to be increased now I've shown I'm a reliable payer ?
Thanks in advance x

forgotmyname

Dont do it 897% interest????

opinions4u

I'm considering renewing the loan, as it would come in handy for Christmas.

Christmas? Wow, didn't see that coming!

Angelight

forgotmyname wrote: »

Dont do it 897% interest????

Blooming Heck, didn't realise it was that much! 20 odd quid to pay on top didn't seem much, but then it was only £70 I borrowed. Hopefully santa will bring me a few quid instead lol :rotfl:

[Deleted User]

Christmas will happen whether you take out an expensive loan or not. So save your money.

By the way - I'd heard there is another Christmas scheduled for late next year, so put something aside for that.

Angelight

opinions4u wrote: »

Christmas? Wow, didn't see that coming![/

Looks like you'll be doing a last minute trolley dash aswell then :rotfl:

Angelight

Deleted_User wrote: »

Christmas will happen whether you take out an expensive loan or not. So save your money.

By the way - I'd heard there is another Christmas scheduled for late next year, so put something aside for that.

That's true - xmas will come and go again as always. Already sorted for the next one, and finally got round to signing up to credit union! x

Nice_Weather_For_Ducks

Advise for anyone reading this thread. Save 10% of your net pay weekly/monthly into an account that will only be used for genuine emergencies.

In time this will build up a nice emergency fund, and install a savings discipline to see you right through life's financial challenges!!

Whether you earn £50 a week or £10000 a month this advise will save you ever applying for a payday loan.

SilverSaloon

christmas isnt about spending money.

if you dont have the money to spend, its simple. Dont.

People who are really your friends will understand. People who dont, dont deserve whatever you would of got them anyway.

Kids can easily be bought for from charity shops, freecycle etc. there is loads of cheap/free stuff that the kids wont care that isnt new.

kerry87_2

Angelight wrote: »

Has anyone taken out payday loans with Cash Converters before please?
I got one for the first time a month ago for £70, and the last weekly installment is due tomorrow. I'm considering renewing the loan, as it would come in handy for Christmas. What I'd like to know is will the amount I can borrow remain set at £70, or is it likely to be increased now I've shown I'm a reliable payer ?
Thanks in advance x

In response to the actual question that has been asked, yes you will be offered an increase in credit, how much I am not sure.

paddyrg

kerry87 wrote: »

In response to the actual question that has been asked, yes you will be offered an increase in credit, how much I am not sure.

But be sure they'll apply more interest on that! But don't take it if they do offer you more, they WANT you trapped.

What they want more than anything is for you to come in each month and give them £20 or more for nothing. By March, by rolling over, you'd have repaid the original loan value, plus a tenner, and still owe them the £70 you borrowed in the first place. It's a dirty usurous business, don't waste your money giving it all to borderline loan sharks.