Top 10 Lists + Full Lender Lists (Linked in Brackets)
Sunshine Credit Loans @ www.sunshinecredit.co.uk
Sunshine Credit is the latest project from The Quick Loan Shop Ltd who primarily operate under Quick Loan Shop. Miss Payday and Wee Loans are other active trading names. They also broker through a few comparison sites. Sunshine’s launch appears to have followed shortly after www.sunshinecredit.co.uk was registered in late April 2016. It hasn’t been long since they arrived and there has been no promotion and so not many people will have got the chance to uncover their enticing cheap rate at just 0.4%. This is a key USP, but other than this it is quite a no-frills offering. Their monthly term is restricted to small £100 to £500 sums for all customers.
They also use no encryption, there is no login facility and no weekend payouts. We come back though to that excellent value with their 30 day charge coming in at just £12 per £100 borrowed. This is the joint 2nd best deal available on the market, made better by the fact that considerations are made for bad credit. The Money Platform is the other lender where the rate calculates the same at 0.4%. You will however need to opt for a 28 day term and borrow at least £250. The very cheapest offer comes from Drafty at £5.40. This service is however designed for prime borrowers who receive a minimum wage of £1250.
What limits the service is the noted lack of account servicing at www.sunshinecredit.co.uk. Applications are also only processed between Monday and Friday. No times are disclosed, but we’d expect standard 9am/5pm hours to be in place. The advantage of alternatively heading to the Quick Loan Shop is that they do provide logins and they have now also extended to offer the option of instalment terms. The QLS’s costs over 3 and 6 months are also very competitive. In each of our top 10 countdowns, they managed to take high ranking spots. It is just surprising that they don’t drop lower over the single month, instead charging £24 per £100 (rather than the £12 here).
£12 /£100 (30)
Data Taken from www.sunshinecredit.co.uk: November 2016.