What is SteadyPay ExtraCash?

ExtraCash is a service designed to improve your credit score while providing you with a credit limit of £100, which you can drawdown whenever you need it.

Your credit score is very important - it gets checked when you apply for a loan, credit card, store finance and even a phone contract. A good credit score means more options and better deals.

We've designed ExtraCash so there is minimal risk to you.

• No major debt

• No interest charges and servicing fees (0% APR)

• No contract lock-in

• No hard credit check

ExtraCash is super simple.

• You enter into a running credit agreement.

• You make small, fixed payments of £14 a month over 12 months. These will be reported to the three major credit agencies - TransUnion, Experian and Equifax.

• ExtraCash gives you an easy and effective way to demonstrate that you can make on time payments over the length of a credit agreement – this is the single biggest factor that goes to raising your credit score.

• We will collect the first payment after you sign the agreement. The remaining payments will be collected from the following month onwards, on the last Friday of each month.

• You also have £100 credit that you can access when you have any type of emergency, and it is repayable in 30 days, after which you can draw it down again at no extra cost or interest.

Now, the best part! At the end of the agreement, your credit score should have improved. An improved credit score also means you are more likely to get credit from other providers. Sounds good, right?