SafetyNet Credit Login @ www.safetynetcredit.com
SafetyNet Credit was launched in the year 2012. Indigo Michael Ltd who control the brand had started out with ClearAccount in late 2010, but this changed from a lending arm into a financial tool, leaving Safety taking centre stage. SafetyNet’s Alternative Lender of the Year award in 2015 was a clear sign that they were a name to watch out for, but it was surprising just how much traction they have attained. They haven’t been a big advertiser, but they have used tech to their advantage. Awards, reviews and word of mouth has turned them into one of the UK’s leading subprime brands that may well go on to challenge Wonga over the years ahead.
They had made their name through their unauthorised overdraft protection. Whenever your account goes into the red here they’ll be alerted and will then cover this preventing those nasty fees from being triggered. The setting for this is auto-deposits, but you don’t have to enable this. You can instead take advantage of their flexible line of credit facility that has no set term and can be accessed 24/7. All applicants must initially get approved and be set on a limit anywhere between £100 and £500. Existing customers are restricted to the same £500 cap. Once fully approved you’ll be able to request a draw between £20 up to your limit. Fixed interest is then charged at 0.8% daily.
There are 2 other lenders that provide a line of credit here in the UK. This includes Drafty who measure up well in most areas, but they require good scores only. The other firm is MyKredit who did have a fixed 20 day term that on checking has now been joined by 61 days. Whilst they have fixed terms you can still borrow up to your limit whenever you need the funds. In our top 100 loan countdown the only subprime lenders that ranked ahead were Wonga, Sunny and QuickQuid. This shows how well they have come along. Those 3 ahead are major TV advertisers that makes you wonder what would happen if Safety ventured down the same route.
It is through the SafetyNet Credit login at www.safetynetcredit.com where the magic happens. Assuming that there is no late payment blocking the account, a draw can be requested 24/7 for however long you need the money. They as noted enable £20 onwards, but an added bonus is that you can choose any single amount to the pound. Then there is of course that layer of protection when switching auto-deposits on. This type of facility is not available anywhere else. Before a customer can access funding around the clock they’ll need to get the green light on their account. Their team operates during the week (8am to 7pm) plus on Saturdays (9am to 5pm).
Market Share Ranking 2017…
SafetyNet Online Loans Login Rank: #7
Niche: Payday (#3), Instalment (#5), Personal (#2).