We’re hearing reports from members that some credit card providers such as Barclaycard have significantly reduced credit limits for their customers which has left some people feeling baffled as their circumstances haven’t changed.
Each loan application we receive is assessed on the applicant’s ability to afford the repayments so we are always basing our lending decisions on your current circumstances. A loan from ESCU is a real alternative to using a credit card particularly for booking holidays, buying school uniform or paying for vehicle repairs.
We recommend only borrowing money when you need to and not to be tempted to spend all of your credit limit as the repayments might keep you in debt over a longer period, especially if you’re only covering the interest on your debts . We also encourage our members to save when they borrow from us and often when the loan has been paid off, our members continue saving and become more financially stable in the years ahead.
We want to help our members access affordable credit, so if you have been affected by your credit card limits being slashed and are looking to borrow from an ethical lending provider then apply online today.
