SafetyNet Credit

SafetyNet Credit, a trading name of Indigo Michael Ltd, offer short term finance up to £500 at a representative APR of 68.7% . They don’t have specific loan terms or monthly repayments as this credit line style of finance is flexible and takes into account how much you can afford to repay. These payments can be made manually via the online management tool at any time, or automatically as money comes into your account. SafetyNet will not automatically withdraw funds if it looks like it will affect another credit instalment, or would take you beyond your overdraft limit.


The finance works by linking up with your bank account and once your balance falls below a predetermined amount, SafetyNet Credit will automatically lend you money in order to prevent the borrower from dipping into their unauthorized overdraft and incurring penalty fees.


In order to apply with SafetyNet Credit you must have a UK bank account with online banking facilities in your name. They do accept borrowers with a bad credit history but as part of your application with SafetyNet Credit, you will be subject to credit checks.

SafetyNet Credit Criteria

Age Requirement 18
Debit Card Yes
Credit Checks Yes
Same Day Transfer Available Yes
Loan Value Available £1 to £1000
Representative APR 68.7%
Loan Length 0 Days to 12 Months
FCA Registration Number 7721420

Representative example: Amount of credit: £500. Interest rate: 0.8% per day for up to 40 days (292% per annum (variable). Representative 68.7% APR (variable)

SafetyNet Credit Review

SafetyNet Credit offer a product quite different to the high-cost short-term market. Rather than providing a standard short-term loan they provide a flexible and running account credit facility. When you apply to SafetyNet credit and are successful, you can choose to either transfer the balance to your account, or alternatively, choose the function that tops up your account to stop it from falling below a certain point and help to stop those pesky overdraft fees. Interest is charged on borrowing at a daily rate of 0.8%, this is capped at 40 days.


Customers with less than perfect credit history are still able to apply, although you will be credit checked during the application process. Failure to make payments or missed payments could have a negative impact on your credit history so please carefully consider if you can meet the repayments.