Loans
Compare loan offers with ClearScore in 2 minutes at no impact to your credit score.
Representative 43.4% APR
*ClearScore is a credit broker, not a lender. Further information below.
ClearScore can help you find personal loans:
- From £1,000 to £25,000
- Over 1 to 5 years
- No impact to your credit score
- Personalised offers tailored to your needs
- Know what you'll repay each month and over what term, upfront
Representative 43.4% APR
*Vanquis Bank acts as a credit broker, not a lender, introducing customers to our partner ClearScore. ClearScore acts as a credit broker and not as a lender. If you take out a loan, Vanquis Bank and ClearScore receive a commission payment from your lender. If you’d like further information about the commission Vanquis Bank or ClearScore receive as a result of your loan, please contact us. We will not charge you a fee for our services. Loans can only be offered to customers aged 18 or over. Credit is subject to status. Terms and conditions apply.
Why get a loan through us?
Speed – provide your details just once to see what offers you’re eligible for in seconds.
Choice – personalised loan offers from a range of partners so you can choose the right one for you.
Clarity – know what you’ll repay each month and over what term, upfront.
Previously had a loan with Vanquis and have a question? Here’s how to get in touch.
Personal loans
If you’re on the look out for a loan, you may have a few questions on your mind. We’ve answered some of them here…
What are personal loans?
A personal loan gives you the flexibility to borrow an amount and repay it over a fixed period with regular monthly payments. With a personal loan, you can cover big costs like home improvements or even consolidate current debts.
How does it all work?
A personal loan is a lump sum that gets paid into your bank account. And when you take out a loan, you need to pay interest on it. This means you’ll pay back more than you borrowed.
Interest is calculated as a percentage of the original loan amount – basically, it’s what the lender charges for letting you borrow their money. You’ll need to repay the loan over a fixed period (this tends to vary from one lender to another).
What's the difference between a secured and unsecured loan?
A personal loan is either secured or unsecured. When choosing a secured loan, you have to offer collateral or an asset that’s worth the same as the amount you’re borrowing.
If you can’t pay the money back, the lender can take possession of that asset so they can be repaid. For unsecured personal loans, collateral isn’t needed. Just so you know, if you delay the repayments on an personal loan, it can damage your credit score. The lender can also take action against you to collect the outstanding debt, interest and fees.
How can I check if I have bad credit?
Bad credit means a low or negative credit score. Someone may have this if they’ve not paid bills or missed a payment. It could also be because they haven’t had many credit agreements.
It’s a smart idea to check your credit report before you apply for a loan or credit card. There are three main credit reference agencies (CRAs) in the UK – Equifax, Experian, and TransUnion – and you can see your report with all of them.
What are soft and hard credit searches and how do they affect my credit file?
A soft credit search (sometimes called a soft credit check) allows you or a lender to see if you’re eligible without affecting your credit score. Although soft searches are recorded on your credit file, companies can’t see them and they won’t affect any future applications.
A full credit check usually happens when you apply for borrowing and it’s recorded on your credit file as a hard search or hard check. Too many hard credit checks with different lenders over a short period of time can impact your score. This could affect your chances of getting credit in the future.
Someone with bad credit may find it difficult to borrow money. Or if they can, it’ll likely come with higher interest rates. Your credit (good or bad) is something lenders consider before deciding on your application.
What does APR mean?
APR stands for Annual Percentage Rate and it’s used to show how much interest you’ll pay each year on the money you’ve borrowed. It’s important to look at APRs when comparing loans, as a higher APR normally means you’ll repay more overall. To be sure, check the total amount you’ll have to pay back.
Vanquis Bank Limited can be contacted at its registered office, which is at Fairburn House, 5 Godwin Street, Bradford, BD1 2AH. Registered number 02558509 England. VAT number 180555952. Vanquis Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register No. 221156).
Vanquis Bank acts as a credit broker, not a lender, introducing customers to our partner ClearScore, which is a trading name of ClearScore Everywhere Limited (company number 06297533) of Dakota House, Concord Business Park, Wythenshawe, M22 0RR. ClearScore acts as a credit broker and not as a lender and is authorised and regulated by the Financial Conduct Authority (FRN 662079).
Terms and conditions apply. UK residents aged 18 and over. If you take out a loan, Vanquis Bank and ClearScore receive a commission payment from your lender. Different amounts of commission are received from different lenders and will be either a fixed amount or a percentage of the sum you borrow, but will never affect what you pay under the loan you are offered. If you’d like further information about the commission Vanquis Bank or ClearScore receive as a result of your loan, please let us know. We will not charge you a fee for our services.