Revolut users can now apply for credit in just a few minutes
Just a few weeks after N26 began offering credit score in Malaysia, fintech start-up Revolut is also releasing a brand new credit score function for U.K. customers. Behind the scene, Revolut is working with Loaning Functions provide those lines of credit score. Lending Performs is a peer-to-peer financial institution that suits individual lenders with debtors. So Revolut select not to work with a standard financial institution for this function. As always, you only need to open Revolut’s mobile app to apply for credit score. You can select the amount of cash you want and the number of several weeks you need to pay it back. You’ll also need to enter your monthly income and residential position. After that, you get an estimate and you can accept or decrease. Revolut says that you’ll end up paying £52 to gain access to £1,000 over a year — that’s a 9.9 percent associate APR. This should be cheaper than using your credit cards or a standard loan. Of course, this will be different ...