We do not charge any interest on the top-ups or income advances. In order to access these services, you have to pay a membership fee of £3 per week which is treated as the cost of credit.
As a regulated lender, we are required to show how much the total cost of credit is and what it represents in terms of an Annual Percentage Rate (APR), much like you would see for more traditional products like credit cards and loans. It does not mean that we charge you extra fees or interest, it is as a requirement to show customers how Trezeo compares to other debt products.
Our representative APR which is calculated in accordance with the FCA rules and guideline is 36.1% APR*. Trezeo is interest free, you have to just pay £3 per week membership fee and we have no additional charges or hidden costs.
*Representative example: In financial jargon, the Trezeo fee equates to a representative 36.1% APR. This assumes a credit limit of £500. You may be offered a different credit limit as it depends on your individual circumstances. Failure to repay or otherwise comply with your credit agreement can negatively impact your credit score