Once upon a time, a big bank scammed Jimmy’s mum into unsustainable debt.

Many credit companies promote a “pay a minimum amount” alternative, effectively transforming the original terms into far more expensive loans that you never really pay off.

With Fairlo you always amortize, always paying off the debt, making it a more honest and more sustainable credit service.

Most other credit companies are rigid and bureaucratic, not really aligning their product to the user’s needs.

With Fairlo you can make as many withdrawals, deposits or plan changes as you want, as often as you want. Our service is in essence a fully flexible life-happens credit buffer you only interest on the sum you’re using, no matter the limit.

Most credit companies market a “representative APR” that sounds good, a first glance, but as they employ dynamic pricing you might end up getting a far heftier price once completed the application, all depending on their rather arbitrary credit risk assumption.

With Fairlo you always know exactly what rate you’ll get, even before applying. It’s flat and fair and the same for everyone:

• 25% for £1,000
• 25% for £2,000
• 23% for £3,000
• 22% for £5,000
• 20% for £7,000
• 18% for £10,000

The true scourge of the credit industry is the opaqueness. As a customer is bordering on impossible to understand what terms that apply to them. How does it work, what does it cost, where are the general terms and when they find it it’s in Greek.

With Fairlo you get a fairness receipt for every transaction, stating the exact economics of it. How much does it cost, where does the money go, how much do we stand to profit and so on. The Fairlo fairness receipt is the first in the world, which speaks volumes to just how opaque and dishonest the credit industry is.

Some credit companies charge fees for transactions, signing, administration and random services. That’s just wrong.

With Fairlo you’re never charged any fees. No fees, ever whatsoever, never.

We’ve looked at 50 competing banks, credit institutions and fintechs. Some of them have Trustpilot scores as low as 1.3 out of 5. With the risk if stating the bleeding obvious, that really, really shitty.

With Fairlo you can feel safe and secure through reading our reviews, what our actual customers think about us. With more than 3600 reviews giving us an average of 4.8, 91% of them being 5-star reviews, we feel blessed and confident our strategy and vision adds something unique to the credit market.

Customers who use Fairlo's credit service can rate the service on platforms such as Trustpilot and Google, something we actively encourage them to do. The authenticity of the reviews is not verified. The overall rating is based on the number of reviews, star ratings, and the freshness of the reviews.

One aspect of credit that is truly unfair is the fact that some people fall behind with their payments, which leads to the credit companies selling the debts. A bit like in the movie “The Big Short”. Trading with people’s debt is an ugly part of credit.

With Fairlo you can trust our customer service promise; if you’re having problems, get in touch. We have a set of tools to help out and we can almost always help you. Our big hairy goal is to be the first financial service to have zero customers default, which means being unable to pay off the debt.

B Corp is a leading impact certification platform that vouches, through rigorous diligence, that a company has a more positive impact on the world than a negative one. Very very few financial companies have this.

With Fairlo you know that we’re on a constant quest to improve ourselves and our impact on your life. We have a B Corp certification pending and you can follow our journey here.

Every credit company in the UK operates under a license from the Financial Conduct Authority (FCA) but many of them use the grey area wiggle room to trick customers into unsustainable debt.

With Fairlo you can trust our commitment to FCA directives. In July 2023 they launched The Duty, stipulating new guidelines on a better and more fair credit industry. We’ve lived by these rules from the day one.

The Duty will include requirements for firms to:

• end rip-off charges and fees
• make it as easy to switch or cancel products as it was to take them out in the first place
• provide helpful and accessible customer support, not making people wait so long for an answer that they give up
• provide timely and clear information that people can understand about products and services so consumers can make good financial decisions, rather than burying key information in lengthy terms and conditions that few have the time to read
• provide products and services that are right for their customers
• focus on the real and diverse needs of their customers, including those in vulnerable circumstances, at every stage and in each interaction