Unexpected bills and emergency expenses are a fact of life. Even the most well-prepared of us will face a sudden emergency cost at some point in our lives – be it emergency dental work, unexpected bills, or a broken boiler.
Payday loans can be useful when you need to financially cover an emergency. And, with £300 payday loans from around £300 to around £1,000 on offer, there’s a great deal of flexibility, too. So, what could you use a payday loan for £300 for, and how do you get one?
Why people use payday loans
Typically, £300 loans are used to tide you over an emergency, until you next get paid, so they’re used for things like:
- Unexpected car repairs.
- Unexpected housing repairs.
- An urgent need for some extra cash.
Sometimes people will use payday loans for other expenses, such as:
- Paying for car breakdown bills.
- Expensive medical emergencies.
What Can Small Loans Cover?
One of the best things about payday loans is their flexibility. Because you can usually borrow from £100 to around £1,000, plus everything in between, they can be a good option if you’re looking for a bespoke loan. Quite simply, you can borrow the payday loan you need to get you sorted and your finances back on track. Small loans from payday lenders are generally used to help people in a financial emergency, when the money in their bank can’t quite cover the expenses.
How Do £300 Payday Loans Work?
Typically, if you were looking for a £300 loan, you’d borrow it from a payday loan provider like Wizzcash for a short time, paying it back over three months. With us, you can apply online and you will be able to see exactly how much you will need to pay back over the period of time of your choice.
Does Wizzcash Offer £300 Payday Loans?
Yes, we do. We offer payday loans from £300 up to £1,000. Check out our application calculator right at the top of our homepage to find out how much the loan amount you’re looking for would cost you.
Total Amount of Credit: £300.
Duration of the Agreement: 90 days.
Total Amount Repayable: £454.26 to be re-paid in 3 equal instalments of £151.42 on your next 3 pay days.
Interest is Fixed at a rate of 292% per year – 0.8% interest per day.
Representative 1265% APR.
How Do I Apply For A £300 Loan?
It’s simple. Apply online at Wizzcash.com – it’ll only take you a few minutes. Just fill out a few details online and we’ll then carry out some affordability checks as part of our commitment to responsible lending. If approved, we’ll confirm it with you and you can expect to have your £300 loan in your bank account within hours. We aim to make our lending as efficient as possible, so you can be sure that you will always have the money that you need, as soon as possible.
Am I Eligible For A £300 Payday Loan?
As long as you meet the following criteria, yes you are. Our eligibility criteria is in line with our responsible lending practices, meaning we only lend to those who can truly afford it. Our eligibility criteria is as follows:
- Aged over 18.
- Resident of the UK.
- Currently employed and earning at least £750 a month after tax.
What Checks Are Done For £300 Loans?
We will run a number of checks when you apply for £300 loans, so we can be certain that you can truly afford to pay back the loan that we have lent. The checks that we carry out include:
- Credit score check – a risk assessment to check your financial buoyancy when making a decision.
- Employment check – to make sure you’re in work (we only lend to people who are).
- Affordability stress test – to make sure you can afford to pay back the £300 loan.
If I Have Bad Credit Can I Still Apply For A £300 Loan?
While we do carry out credit score checks, that doesn’t necessarily mean that you cannot apply for a £300 loan from Wizzcash if your credit is less than perfect. A credit check is only one of three checks that we carry out, and while it is a factor in our decision, we also understand that you may be in need of a payday loan when you have bad credit. As long as we wholly believe that you will pay back the loan, we will ensure that we look at every available option to suit your affordability status.
What Is The Cost Of A Loan From Wizzcash?
When you apply for a loan from Wizzcash.com, you can repay it over 3 months. As we only have a one-off default charge of £15, which is only payable if you miss a repayment, we can help to keep the cost of your £300 loan down. With an APR of 1265% and daily interest of 0.8%, the total amount payable will be just £454.26.
What Is APR?
APR stands for Annual Percentage Rate, and the calculation is of the full amount that you will pay for a loan over the course of one year. The calculation includes fees, plus interest rates that the lender applies to your loan.
Who Are The FCA And What Do They Do?
The Financial Conduct Authority (FCA) are the regulatory body who ensure the UK financial markets remain fair and honest. With a range of new financial regulations to help stabilise the market, the FCA are there to protect the consumers. Here at Wizzcash, we ensure that our payday loans are capped in line with FCA regulations. Some of the regulations that the FCA have put in place include consumers never having to pay back more than double the amount that they have borrowed (including additional fees), and interest rates never exceeding more than 0.8% per day.
Are Wizzcash A Responsible Lender?
Here at Wizzcash, we are very committed to responsible lending, and follow the guidelines put in place by the FCA. We ensure that all of your personal information is secure, and we also ensure that all of the costs on a Wizzcash loan are transparent. All of our information is clear and easy to understand, and we take responsibility to decide whether a loan is suitable for a customer based on their circumstances.
What Happens If I Can’t Keep Up With My Repayments?
Here at Wizzcash, we use a continuous payment authority, meaning repayments for our £300 payday loans will come out of the customer’s debit account automatically. Customers will receive warnings in advance of the exact day that this will happen, in order to make the process of repayment easier. However, if you do not make repayments on the scheduled collection dates, this will be noted on your credit file. While we do not offer rollovers or renewals, we may agree, in certain circumstances, to offer you a flexible repayment plan to help make it easier for you to repay the balance.
Can I Pay £300 Over A Series Of Months?
We help to make our £300 loan process easier, and offer the chance for our customers to make repayments over a three month period, rather than in one lump sum at the end of the month. This could make repayments more manageable.
Why Choose Wizzcash For Your £300 Loan?
As a responsible direct lender, we ensure that we only lend to those who can afford it. Not only do we offer manageable repayments across 3 months for your £300 payday loan, but we also carry out a series of affordability checks in line with our responsible lending practices. With Wizzcash, your personal information is safe and secure, and we are always contactable. We can help to provide you with money shortly after approval.
Will My Details Be Shared With Other Creditors?
When you apply online for a £300 payday loan with Wizzcash, your security is our number one priority. We have some of the best encryption technology to ensure any scam attempts are eradicated so your details are always safe. However, if we reject your application, with your permission, we will pass your details onto a creditor who may be able to help you in your situation.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk