Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk Loanski is an authorised credit broker not a lender

    Stepstone Credit Loans Alternative

    Loans from £100 to £10,000

    • 1 month to 5 years
    • 100% online application
    • All credit scores welcome to apply
    • Paid in as fast as 10 minutes^

     

    Secure SSL connection

    Your application is sent over a secure encrypted network

    Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

    Choose Loan Amount

    Credit score not affected*

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    Rates from 45.3% APR to 1575% APR Minimum Loan Term is 1 months - Maximum Loan Term is 60 months. Representative Example: Borrow £1000 for 24 months. Annual interest rate 70% (fixed). 24 equal instalments of £77.48. Total amount to repay £1,859.52. Representative 97% APR (variable).
    *Subject to application being approved by the lender. Not all lenders are able to provide up to £10,000

    Choose Loan Amount

    Credit score not affected*

    Loading

    Rates from 45.3% APR to 1575% APR Minimum Loan Term is 1 months - Maximum Loan Term is 60 months. Representative Example: Borrow £1000 for 24 months. Annual interest rate 70% (fixed). 24 equal instalments of £77.48. Total amount to repay £1,859.52. Representative 97% APR (variable).
    *Subject to application being approved by the lender. Not all lenders are able to provide up to £10,000

    Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

    Loans from £100 to £10,000

    • 1 month to 5 years
    • 100% online application
    • All credit scores welcome to apply
    • Paid out in as fast as 10 minutes^

     

    Secure SSL connection

    Your application is sent over a secure encrypted network

    REPRESENTATIVE 97% APR

    Loanski offers competitive interest rates compared to some lenders across the market.

    Installment Options

    Customize your loan term from 1 month to 60 months putting you in control of your payment plan.

    Fast Payouts

    You can expect fast payouts sometimes within 10 minutes^

    Company Number: 

    10666407

    Company Name:

    StepStone Credit is a trading name for Hymarc Ltd.

    Date firm started up business:

    13 March 2017

    Type of Business: 
    64921 – Credit granting by non-deposit taking finance houses and other specialist consumer credit grantors

    StepStone Credit offers the following:

    £200 to £1000

     

    Loan term length:

    114 days

    Head Office Address:

    Southborough Centre,
    The Warehouse,
    Tunbridge Wells,
    England,
    TN4 0PG

    FCA Status: Authorised

    Hymarc Limited is authorised and regulated by the Financial Conduct Authority FCA.

    Payout Time:

    Between 30 minute and 24 hours after your account being opened, you will be able to access the funds.

    StepStone Credit Review

    StepStone Credit is a different type of loan which allows you to access credit and repay as much as you need for the agreed term.

    How this works is very similar to a credit card but with cash.  You apply to open an account with StepStone credit and select the amount of credit you wish to borrow from them.

    Customers can choose between £200 and £1000. You can then use their app to withdraw the cash to your bank account as and when you need to use it and pay it back within the month. You are able to withdraw as little as £20 at a time.

    If you need to use it again the next month you can do so. You can use as little or as much as you need to.

    The StepStone Credit app is fantastic and means that you can control your loan at the touch of a button from your phone without needing to log onto an account from a PC.

    How the company works:

    To apply for a line of credit with StepStone Credit you can start by filling out their online application form.

    The application form will ask you a number of questions regarding your personal details, financial details including employment information and also your bank details.

    Overall the application process shouldn’t take any more than approximately 15 minutes to complete.

    You will need to enter your bank details along with your online banking login details as part of the process. This allows StepStone Credit to access your bank account as read-only for up to 90 days so they can assess your income and outgoings to check whether or not you can afford the loan.

    If you are accepted for a loan with StepStone Credit then you can expect to receive the money as quick as 30 minutes of your application being accepted but sometimes it may take up to 24 hours.

    It all depends on how fast StepStone Credit is able to verify your information.

     

    Repayment method:

    Repayment is done automatically via a payment method called Continous Payment Authority also known as (CPA).

    CPA is where the monthly repayments are deducted directly from your bank card which you entered during your application process.

    This is a very convenient way to pay because it means that you don’t have to remember to make your repayments each month.

    If you do not like this method or if you wish to repay before the due date then you can do so via the StepStone Credit application.

     

    Do I need a bank account?

    All applicants will need to have a UK current account which has a debit card attached to the account. There must also be online banking so StepStone Credit can review the monthly transactions.

    The bank account will be used to check your identity as well and fund the loan and take the monthly repayments.

     

    To be eligible to apply for a loan you must fit the following criteria:

    Age

    Applicants must be a minimum of 18 years of age.

     

    Address information

    You will need to be resident within the United Kingdom and will also need to provide address history over the previous 3 years. StepStone Credit will use this information to run credit checks on your file and to also confirm your identity.

     

    ID and Income

    Normally your identification will be able to be confirmed using your previous address history and also your online bank details. So you will not normally need to provide any additional information.

    If you do need to send any additional documents to support your application then this can be done online securely.

    StepStone Credit does not state whether or not applicants need to be in full time or part-time employment to be accepted for a line of credit with them.

    It may be that you can also apply if you are claiming benefits also as long as you can afford the repayments.

    In fact ‘on benefits’ is actually one of the options you are able to select from the drop-down menu on the application form.

    Penalties

    There isn’t much information on the StepStone Credit website about their penalty policy and what will happen if you miss a payment. Most lenders will charge a missed payment fee and also charge additional daily interest which will be capped at a certain amount.

    If you continue to miss payments then your account will default and could be referred on to credit collection agencies who will attempt to recover the amount which is owed.

    Speak to StepStone Credit as soon as possible if you think that you may miss a payment on your account.

    They may have a solution and will be able to offer you an alternative payment plan until you are able to get back on track with your finances.

     

    Reviews

    On the Trustpilot review website, StepStone Credit has a star rating of 3.5 stars over 5 although they only have 11 reviews in total to go by.

    55% of there are rated as ‘excellent’ and 45% rated as ‘bad’.

    On the reviews that are rated as excellent customers compliment StepStone Credit on their fantastic service and how refreshing it is to have a different form of credit available with the app.

    On the bad reviews, customers mention that they never heard anything back after their application or that they weren’t accepted for a line of credit with them.