When the unexpected happens and you need a loan, having a low credit score can make it seem impossible. Here at QuidMarket, we offer bad credit loans online in a unique way, so you can get the funds you need without the fuss.

While other lenders use automated processes, every bad credit loan application is considered by a human member of the team here at QuidMarket. Even if you’ve been turned down for payday loans due to bad credit elsewhere, we may still be able to help you fairly with a flexible loan for bad credit.

  • Bad credit applications are considered by QuidMarket
  • No guarantor required
  • QuidMarket is an FCA Authorised responsible lender
  • New customers can borrow between £300 and £600*
  • Returning customers may be eligible to borrow up to £1,500*
  • Flexible repayment terms between 3-6 months
  • No hidden fees
  • Quick and easy applications
  • Decisions made by humans, not computers

*Loan amounts and repayment terms are dependent on affordability checks

How much do you need?

£300 £1500

For how long?

Apply Now

Month 1


Month 2


Month 3


Month 4


Month 5


Month 6


This is for illustration purposes only. Your repayment schedule will be confirmed during your application

*All applications are subject to affordability checks*

Representative example: Borrow £300 for 3 months / Interest payable £154.38 / Total amount payable: £454.38 in 3 instalments / 3 payments of £151.46 / Representative 1299.7% APR / Interest rate 292% per annum (fixed) / Maximum APR 1625.5%

Compare short term loans on Clear and Fair

As a new customer the minimum repayment period is 3 months and the maximum is 6 months. Additional options may be available to you as a repeat customer.

Loans For Bad Credit
Get Quick Cash Online, From A Trusted & Safe Lender

What Are Bad Credit Loans?

Bad credit loans aren’t vastly different to other loans, they simply refer to short-term loans provided to people applying for a loan with a poor credit score or bad credit history.

Some companies may increase their interest charges on payday loans for bad credit to mitigate the risks of lending to applicants with a poor credit history. They are an expensive form of borrowing and are not a suitable solution for those with long-term financial issues.

However, when used as intended, they can be very useful. Loans for bad credit are designed to help cover unexpected costs, such as when you need a replacement boiler, or your car is in the garage for urgent repairs. If you are unable to get the funds you need elsewhere, such as from a bank, credit union or family member, bad credit loans in the UK allow you to cover unavoidable costs in the meantime.

For more information about our bad credit loans online, contact QuidMarket and our friendly advisors will be happy to help.


Loans for Bad Credit Direct Lenders

As responsible lenders, our aim at QuidMarket is to help hard-working people meet their short-term financial needs. We don’t think a poor credit score should automatically disqualify you from getting the funds you need, so we consider applications from all credit levels. We do this fairly, without applying extra hidden charges or fees to your loans for bad credit, which could end up making your financial situation worse.

Our approach is a little different. Rather than basing our decision solely on your credit score, we look at something we think is much more relevant: whether you can sustainably afford the loan you’re applying for. It’s simple, but it works, and it’s a much fairer way of offering bad credit loans in the UK.

When we receive your application, we’ll look at all the information you’ve provided us about your current financial situation. We’ll look at your regular income and outgoings, such as direct debits, credit card payments and any other loans or credit, and determine if there’s enough left for you to sustainably manage the repayments on the bad credit loans you’ve applied for. Of course, we’ll make sure you have enough left for your living expenses too.

You’re welcome to apply for bad credit loans in the UK if you meet our eligibility criteria:

  • Live in the UK
  • Over 23 years old, and under 65 years old
  • Have a mobile phone (we send an SMS code during your application)
  • Hold a UK bank account with a valid debit card (we run a verification check that takes 1p)
  • Be in employment and take home at least £1,300 a month.
Loans For Bad Credit

Getting Approved for a Bad Credit Loan in the UK

You can help increase your chances of being approved by only applying for loans that work within your budget. When you apply, use the sliders to select the loan amount and length of the loan term. We’ll tell you what you could expect each instalment of your bad credit loan to be with your selection. All you then have to do is consult your budget and adjust accordingly if needed.

We offer flexible repayment terms of up to 6 months on our loans for bad credit. Choosing a longer loan term will make each instalment smaller and more easily manageable, but it will increase the overall cost of your loan, as interest builds up over time.

The information you provide us in your application must be completely accurate. We run checks with Credit Reference Agencies and Fraud Prevention Agencies during the underwriting process. Any mistakes could slow down your loan application.

We don’t like turning applicants away, but it would be necessary if we thought it could lead you into further financial difficulties. As responsible lenders, we could not in good faith approve bad credit loans in the UK if we think you’d struggle to make the repayments. Missing repayments, as with any form of credit, has to be recorded on your credit file and can make it more difficult to be approved for credit in the future.

Why Might You Need Bad Credit Loans?

Every person’s credit history is stored and logged with Credit Reference Agencies (CRA). In the UK, all FCA authorised lenders are required to run a credit check on applicants before approving loans for bad credit. Here, we’ll see any notes on your credit file, as well as a credit score, which is a number calculated based on the events that have been logged in your credit file.

There are usually tell-tale signs to suggest that you have a bad credit rating:

  • You can’t get a credit card
  • You’ve been turned down for a loan previously
  • Found it difficult to change energy suppliers
  • Refused an account set-up by a catalogue
  • You’ve been refused an account set-up by an online retailer
  • Refused a mobile phone contract

A low credit score can be the result of many different factors, including having missed payments on previous loans or credit cards – known as defaults, previous and current bankruptcy, County Court Judgements (CCJs), and the total amount you owe. Many lenders will see a low credit score as a reason not to approve loans, and it can affect your ability to obtain credit from established lending sources or from being accepted for a mortgage or other secured loans. However, our loans for bad credit appraisal looks beyond your credit score.

Whether you’re looking for bad credit loans online or not, you should regularly check your credit score. You have a statutory right to check the files held about you by credit reference agencies – there used to be fees involved but it’s now free.

To Summarise Bad Credit Loans in the UK

Many things affect your credit rating. The better your credit score the easier it is for you to use financial services and the more willing lenders are to lend you money. Also, the higher your score the better rates of interest you can achieve. Bad credit loans can help in the meantime, but there are cheaper forms of credit available.

Try to address any outstanding issues that are currently negatively affecting your credit score. Then, try to manage your ongoing finances so that you never miss a payment. Payday loans for bad credit are not suitable for the sole purpose of rebuilding your credit score.

If you do find yourself struggling to meet any repayments, contact the lender as soon as possible and definitely before the payment is due. Check to see if you can make alternative (lower) payments without it negatively affecting your credit score. Most lenders will provide forbearance when you face short-term financial difficulties.

As loans for bad credit are based on affordability rather than creditworthiness, your credit score should not have too much of an effect on the decision. However, many lenders will have their own set of policies and guidelines – each application is judged on its own merit. Until the application is made, it is impossible to say definitively what impact a bad credit score will have.

Usually, a broker acts as a “middleman”, matching potential customers to providers of bad credit loans online. This in turn can mean the broker will have their own charges for providing this service which is then passed onto the customer – the effect of this can mean a higher cost form of bad credit loans in the UK. The decision is down to you, the customer, but there are the above factors to consider. QuidMarket is a direct loan lender, and so no broker fees or other hidden charges apply, helping us keep the costs down for you.

If a bad credit loan is underwritten correctly, it should be just as affordable as any other credit option. All loans should either be “funded” or “declined” based on a number of industry and regulatory guidelines alongside each companies’ own in-house policies – the main thing about bad credit loans from QuidMarket is that each application undergoes an affordability assessment meaning we do not look at the total amount of credit, but rather the individual repayments compared to a customer’s income.

If you have been browsing for bad credit loans in the UK and want to improve your rating before applying, there are a few simple steps that you can take. You can check your credit score for free through Equifax, Experian, or TransUnion, and spot the areas that need improving. One easy way to improve your score is to ensure your details are correct on the electoral roll, as well as making sure your address is up to date on your bills. You should also try to pay off as much of your existing debt as possible and pay your bills on time. When it comes to applying for cash loans for bad credit, try to avoid applying with too many lenders in a short space of time. Multiple applications can leave a huge impact on your credit score, so it is a good idea to only apply for one and leave a few months between applications.

At QuidMarket, we take the time to personally review each application we receive. Our lending decisions are based on affordability rather than your entire credit history, so our human approach allows us to factor in multiple elements. We will review your monthly income, essential spending, and other financial commitments to decide whether you could comfortably make the repayments each month. If we felt that it was unsafe for you to borrow with our bad credit loans online, we would not take your application any further in order to protect your wellbeing. We will do what we can to ensure that you are not left in financial difficulties, but if you have any concerns about the safety of our loans for people with bad credit, do not hesitate to contact us.

Our team of underwriters works extremely quickly to provide applicants with a fast decision so that they can receive the funds they need. As we are a direct lender, you will not have to wait for information to be passed to a third party lender, such as with a broker, and as we are fully online, you won’t have to wait for paperwork to be sent in the post. You should have a decision within 2 hours from us and this means you could have the funds to use on the same day. This will depend on when your application was submitted, as if it is outside of business hours, this won’t be processed until the following working day.

Missing repayments on any form of loan will have a negative impact on your credit file. This will mean your credit rating can drop and it will make it difficult for you to apply for credit in future. If for any reason you cannot maintain repayments, please contact us as soon as possible to discuss your options. If you fail to speak to us and repayments continued to be missed, this can lead to consequences including instructing a third party debt collection agency or possible legal action. By speaking to us at your earliest convenience, we can look to help you arrange repayment of arrears and avoid any further action.

Warning: You should never pay upfront fees for a short term loan or send money in return for a short term loan. Late repayment can cause you serious money problems. For help, visit: www.moneyhelper.org.uk