Quidoco Loophole - Payday UK

robinsj3

Sorry if it has already been discussed, but there seems to be a loophole on the Payday UK loan arrangement on quidco.

You can earn £40.00 per completed loan, yet, the interest charged on the smallest loan possible is just £20.00

So you net £20 profit per transaction. Will this actually work?:beer:

thepearce

robinsj3 wrote: »

Sorry if it has already been discussed, but there seems to be a loophole on the Payday UK loan arrangement on quidco.

You can earn £40.00 per completed loan, yet, the interest charged on the smallest loan possible is just £20.00

So you net £20 profit per transaction. Will this actually work?:beer:

IIRC It's been discussed on the cashbackkings forum.

robinsj3

sorry am new to posting, what does IIRC mean?:rolleyes:

saaya2020

IIRC = If I Remember Correctly

robinsj3

Sorry - I am being thick, but I can't find this topic on any other threads. Anyone know if it works?

klb_3

robinsj3 wrote: »

Sorry - I am being thick, but I can't find this topic on any other threads. Anyone know if it works?

Look here.
http://forums.moneysavingexpert.com/showthread.html?p=10889157&highlight=payday+uk#post10889157

http://forums.moneysavingexpert.com/showthread.html?p=10502577&highlight=payday+uk#post10502577

cwp500

robinsj3 wrote: »

Sorry if it has already been discussed, but there seems to be a loophole on the Payday UK loan arrangement on quidco.

You can earn £40.00 per completed loan, yet, the interest charged on the smallest loan possible is just £20.00

So you net £20 profit per transaction. Will this actually work?:beer:

the worry here is that Quidco are unreliable about payouts and even the total promised may not transpire, as witnessed by the £50 betfair fiasco which they seem to be sweeping quietly under the grimy carpet at quidco.

Added to that is the fact that a credit search will be conducted before the loan is awarded; your credit score will be adversely affected if they turn you down.

Also is it worth it? Who are these people and can you trust them with your most intimate financial details, bank account and whatever identity information will pass into their system?

sinw

Vote - Clean Ur Act Up Quidco!!!!!!!!!!!!!!

Stick Up For Ur Customers More - Those Who Pay Ur Wages

faithless

cwp500 wrote: »

the worry here is that Quidco are unreliable about payouts and even the total promised may not transpire, as witnessed by the £50 betfair fiasco which they seem to be sweeping quietly under the grimy carpet at quidco.

Argh, what's going on with Betfair, is it not being paid?
Mine's still showing as tracked, due to pay this month. Haven't seen a big discussion about it on the Quidco thread, just seems everyone's the same?

Discodee

I had to query mine and it is still showing as sent to merchant. I didn't lose anything as my £25 was credited back, but even so, I'll be miffed if I don't get it
Still waiting on churchill from last augusts too! It didn't track so they did query it but took months to sort and they've manually added it.

cwp500

faithless wrote: »

cwp500 wrote: »

the worry here is that Quidco are unreliable about payouts and even the total promised may not transpire, as witnessed by the £50 betfair fiasco which they seem to be sweeping quietly under the grimy carpet at quidco.

Argh, what's going on with Betfair, is it not being paid?
Mine's still showing as tracked, due to pay this month. Haven't seen a big discussion about it on the Quidco thread, just seems everyone's the same?

There were problems with Paypal tracking and other people complaining it wasnt tracking at all. Quidco even indicated at one point that it was oversubscribed and the payout likely to be reduced.

It doesnt matter if they overestimated the take up. It is their responsibility to honour the scheme if they want to stop users transferring to topcashback or cashbackkings.

I hope you do get the full payout.