Major high-cost loan firm with 150,000 customers on the brink of collapse
So as long as you pay your loan amount off - you can borrow more cash without having to apply for it.
For example, if you have a limit of £500 and withdraw £400 and then repay that, you can immediately take out up to £500 again according to Debt Camel. The lender then chooses how much you have to repay and will take it for you with the help of open banking.The firm says that interest is charged at 0.8% per day only on any amounts you borrow, capped at 40 days with no extra costs, no hidden charges.
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