A Soft Eligibility Check does not affect your credit rating or your ability to obtain credit in the future and will not be seen by any other lender. It takes account of information you provide at the eligibility check stage, any information we may already have about you, and any information we may get from other organisations such as credit reference or fraud-prevention agencies.
The Soft Eligibility Check uses information to establish if we would be in a position to offer you Credit based on your circumstances at that time.
Please remember that even if you have passed the Soft Eligibility Check, we reserve the right to refuse any application or to refuse a loan for certain purposes.
With our Quick Quote you’ll be able to see your personalised loan rate without having to go through the full loan application process, saving you time. If you’re eligible, your personalised quote will be based on your circumstances and will show you your loan rate and monthly repayment amount. Getting a Quick Quote with us will not affect your credit score.
You'll need to be able to answer yes to all of our eligibility criteria below to proceed with an application:
If you want to proceed with your loan rate, we will then go on to process your application. We will use the information you provide, together with details from a Credit Reference Agency to assess your application and give it a score. This score is then matched alongside an 'acceptance' score, which is based upon detailed analysis of our experience with previous applicants. If your application reaches this 'acceptance' score, your application will be accepted.
Creation loans are not offered for holiday purposes.
In a lot of cases as soon as your application is accepted, we will direct you through a seamless Esign process where you will be able to confirm your identity, read the Important Information and Pre-Contract Credit Information, view Terms and Conditions and confirmation of the Direct Debit setup and finally esign your Loan agreement. Once you have esigned, we can then make the payment to the bank account you specified and you will then receive your money. This should normally take up to 5 working days.
Sometimes your loan application may need to be referred so we can check some additional details. If this is the case, we will send you an email from online.decision@creation.co.uk with our final decision within 1-3 days.
We might need you to provide us with some additional information which we will confirm in a second email. In some cases we may need to speak to you to check some details.
When this is complete and if your application is accepted, we will then send you a further email with details on how to esign your agreement in the Creation Online Account Manager.
Once you have esigned your agreement, we will then make a payment to the bank account you specified and you will receive your money. This should normally take up to 5 working days.
If you are unable to complete the Esign process or validate your identity electronically, we will post a copy of your loan agreement to your residential address as listed in your application. Please read, sign, date and tick the box on your Loan Agreement in the highlighted areas. One copy of the Loan Agreement should be retained by you and one copy returned to us at the following address using the pre-paid envelope:
Creation Consumer Finance Limited, PO Box 14455, Birmingham, B25 9ER.
When we receive your signed loan agreement, we can then make a payment to the bank account you specified and you will then receive your money. This should normally take up to 7 working days from when we receive your signed agreement.
On web applications over £17,000 to help us protect you and ourselves from any potential fraudulent activity, we are required to contact you in person. Our Customer Service team will contact you via telephone to reconfirm your identity and loan purpose. They will contact you on the telephone numbers provided in your application within 48 hours of your application being accepted online. Alternatively you could choose to call us on 0371 402 3419*
*calls may be recorded. Calls charged at basic rate. The number provided may be included as part of any inclusive call minutes provided by your phone operator.
Direct Debit
On signing a Loan Agreement with Creation you agree to pay all instalments on the dates specified in the agreement. Unless otherwise specified in your individual Loan Agreement, all instalments must be paid by Direct Debit using details captured during your application.
For Additional Payments/Overpayments
Online
The easiest way to manage your account is using Online Account Management. You can make payments, view transactions and update your details securely. If making a payment through Online Account Management, please allow three working days for the payment to reach us.
Telephone
Fixed Term: 0371 402 3419 choose option 1
Please have your account number to hand when you call. Calls may be recorded. Calls charged at basic rate. The number provided may be included as part of any inclusive call minutes provided by your phone operator.
Bank Transfer
Transfer funds to us using the following sort code and account number. Make sure you include your Creation account number and agreement number as reference. You will find this on your contract and in the welcome documents you received.
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UK Customers |
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Account name: Creation Consumer Finance Limited Sort code: 30-00-02 Account number: 01324050 |
If you're unhappy with our decision, you can email us at customerenquiries@creation.co.uk or if you prefer, write to us at:
Creation Consumer Finance Limited, PO Box 14455, Birmingham, B25 9ER
You can also get a copy of your credit report from the following credit reference agencies:
When writing to the Credit Reference Agencies, please ensure you enclose a £2 administration fee.
Our loans are available from £1,000 to £25,000.
You can borrow between £1,000 - £25,000 over 1 to 5 years (12 to 60 months). 1 year term only applicable for loans under £15,001.
You can repay your loan over 12 to 60 months (in 12 monthly intervals)
You can borrow between £1,000 - £25,000 over 1 to 5 years (12 to 60 months). 1 year term only applicable for loans under £15,001.
APR Definition by The FCA (Financial Conduct Authority):
"APR stands for the Annual Percentage Rate of charge. The APR takes into account not just the interest on the loan but also other charges you have to pay, for example, any arrangement fee.’
The term “Representative APR” is a guide to indicate that at least 51% of all written applications will get that advertised Representative rate. Each individual applicant is assessed on their creditworthiness, and is given the best rate according to their circumstances.
To complete your Creation loan application we'll need:
Credit scoring is a way we assess your application in order to determine whether we would be in a position to offer you a loan. Using the information you have provided, together with details from a Credit Reference Agency, we give your application a score.
If your application reaches our 'acceptance' score - which is based upon our experience with previous applicants - your application is accepted. If it does not reach this score, it is declined. This doesn't mean that a refused applicant is a bad payer, but simply means that our acceptance requirements haven't been met.
We will provide a decision instantly after you apply online or over the phone. There may be times when this isn't possible and we may need to carry out additional checks in order to fully assess your application. You will receive an email with the result of your application, usually between 1-3 working days after applying.
You can rest assured that every online loan application is protected by the latest 128-bit encryption security software.
You can repay part or all of your loan early at any time.
Full repayment – You can repay your loan at any time by contacting us and telling us that you want to settle your loan early. We will calculate your repayment amount which will be valid for 28 days.
Partial repayment – You can pay more than your required monthly payment at any time during the duration of your loan but you’ll need to let us know, by phone or in writing, of your intention to do this.
You can pay by
*Calls may be recorded. Calls charged at local rate. The number provided may be included as part of any inclusive call minutes provided by your phone operator.
No, we are unable to split payments across more than one agreement or account. Where you are paying by any other payment method other than Direct Debit please ensure that you make separate payments for each account you hold with us quoting your full card number or agreement number.
Please quote your agreement number when making payments for where you would like the payment allocated.
If your application is accepted, the funds will usually credit your bank or building society account within 5 working days of receiving your signed agreement (excluding weekends or bank holidays).
Interested in a Personal Loan? Leave us some details and we'll be in touch when it suits you.
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