Frequently asked questions.
Frequently asked questions about our product.
Who is Fairlo?
At Fairlo, we believe in a fair world. Even when it comes to money.
We strive to make the world a better place by using innovative technology to build sustainable and honest services. Fairlo provides credit that works for your everyday life, no matter how your situation changes. We started in Sweden, but we won't stop until we have created a fair world, even when it comes to money.
Everyone has had experiences where life hasn't been fair and they haven't been able to do anything about it. We want to put this right, and inspire a community to join us on this journey.
You can read more about our story here.
How is Fairlo different?
We have created a business model whereby positive outcomes can be achieved by all involved in the community. Customers. Colleagues. Investors. Fairlo.
Fairlo's values are to always be:
Honest with you
What you see is what you get. Each limit has the same simple APR for everyone. No fees, ever, and always a clear total cost no matter how you use the credit.
Adaptable to you
Life changes. Don't be stuck in an agreement that's not right for you. Fairlo can adapt continuously as your circumstances change.
Right for you
Don't risk getting caught in a repayment trap. Our innovative solution protects you, and always ensures your repayments are sustainable.
I have a complaint
We are sorry that you aren't happy with your experience.
If you haven't contacted us yet then submit details of your issue through the chat widget by selecting “I have a complaint”. If you prefer you can make a complaint by phoning our free number +442034885072 or emailing us at complaints@fairlo.co.uk.
We'll be in touch to try to resolve your complaint as quickly as possible. Please note that we're typically allowed up to 8 weeks to investigate your complaint and produce what's called a 'final response'.
If you're not happy with our final response, you have the right to refer your complaint to the Financial Ombudsman Service, free of charge - but you have to do this within 6 months of the date of our final response.
How to get in touch with the Financial Ombudsman:
- Post - The Ombudsman's address is:
Financial Ombudsman Service
Exchange Tower
London
E14 9SR - Phone - You can call the Ombudsman on 0800 023 4567 or 0300 123 9123.
- Website - Visit the Ombudsman's website for more information: financial-ombudsman.org.uk.
You can also find an online version of their consumer leaflet.
Frequently asked questions about our company.
Will applying impact my credit score?
You can check your eligibility and see which credit limits you are eligible for without affecting your credit score.
Should you then wish to complete your application after choosing a credit line, an account will be added to your credit history.
See which limits you are eligible for here.
Can I make additional repayments?
Of course! In fact, we encourage you to do so when you have some extra money left over at the end of the month. This is going to help you repay your outstanding balance faster and reduce the interest paid.
You can make an additional repayment by logging into your Fairlo account and navigating to Additional Repayment where you can select the amount you wish to repay and see how this affects the total amount repayable, interest due, and duration of repayments.
What does it cost?
With Fairlo you only pay interest on the amount you use for the time you use it.
That means if you don't withdraw from your limit, then you don't pay anything. You can repay at any time. All with No Fees. Ever.
Before you make a withdrawal you'll receive a clear summary of what it will cost you, and don't forget you can change your monthly repayments to reduce the cost further.