Need a loan?
If you're looking for a loan, our partner Aro can help you find offers you may be eligible for, with no impact on your credit score. Aro is a credit broker, not a lender. We work with them to help you find loan offers from a panel of trusted loan providers.
If you take out a loan, Vanquis and Aro receive a commission payment from your lender. Different amounts of commission are received from different lenders and the amount 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.
Aro can help you find personal loans:
- From £1,000 to £25,000
- Over 1 to 5 years
Representative
43.4% APR
Vanquis Bank acts as a credit broker, not a lender, introducing customers to our partner Aro. Aro acts as a credit broker and not as a lender. If you take out a loan, Vanquis Bank and Aro receive a commission payment from your lender. If you'd like further information about the commission Vanquis Bank or Aro 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?
- Choice - our partner Aro can help you find loans from a range of providers, so you can choose the option which is right for you.
- Quick - fill in your details once and Aro will quickly get answers from all the lenders they work with and let you know what's available.
- Credit score - there's no impact on your credit score when you find out which loans you're eligible for through Aro.
Managing your existing Vanquis Loan
If you have an existing Vanquis Loan and need to manage it, please head to our loan payments page. You'll find all the need-to-know info there.
Personal loans
If you're on the lookout 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 unsecured 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.