Is Quick Credit Legit or Scam? [The Unbiased Truth]

Is Quick Credit legit?  In this article, you will find everything you need to know about Quick Credit, from its legitimacy to how you can sign up on the platform without any stress to get a ‘quick credit’.

If you are familiar with online loan platforms, you may have heard about Quick Credit.

The demand for loans and financial funding is at an all-time high, and if you are among those who need money to foot a bill or two, you would have come across online loan apps that promise quick loans with no collateral.

Most loan apps usually give outrageous interest rates. They may defame you by sending unsolicited messages to your contact list if you default payments, no matter how genuine your reasons are.

So, in this article, we will learn about Quick Credit, and if it’s a platform you should patronise.

Are you ready? Let’s go.

Contents

• Who is the MD of Quick Credit?
• How does Quick Credit work?
• What happens if I default loan payment?
• Is Quick Credit registered with CBN?
• Does Quick Credit have an office?
• How to get started on Quick Credit
• Final thoughts

Who is the MD of Quick Credit?

The FAQ on the Quick Credit website states that Quick Credit is a subsidiary of Lubeck Capital LTD. 

Due to this association, it is safe to say that the Directors of Lubeck Capital are also the primary owners and decision-makers of the company. 

Odin Ejodame and Ayodele Olapade are the directors of Lubeck Capital and, by extension, Quick Credit.

On closer examination, these men have good track records in leadership positions. This means their establishment, Quick Credit, should be credible.

How does Quick Credit work?

Once you have provided the details needed upon signing up, your account will be reviewed to determine the legitimacy of the information provided. This process can take up to 5 minutes but not longer.

Once you have applied for a loan, you should expect to receive your funds within 5 minutes upon approval. No amount is deducted from the loan you applied for, and no collateral is required. 

If you have applied for a loan of N50,000, you receive the same amount in your account. Not a single kobo less.

Unlike any other conventional bank or money lending shark, no paperwork or complex processes are required before accessing a loan. All you will need to do is to create an account and provide details that prove that you are trustworthy and an actual person. 

No one would want to give a loan to anyone who cannot be traced when the time comes or cannot pay back within the stipulated deadline hence the requirements. 

Whatever transactions you carry out on the platform, there are no hidden fees or charges. Every transaction or deduction is clear to you; you know if any subtractions need to be made from your money.

The platform is also easy to navigate due to its simple user interface; everything you need is where you can find it. You can access anything with a swipe from your account balance to loans and account security.

You also get to apply for loans of up to N100,000 and payback within a maximum deadline of 90 days (3 months).

This extended period ensures you are not pressured into paying back the loan and can afford the payment as it is broken down in thirds. You can pay in instalments to make it easier or pay everything at once, on or before the deadline.

Information about your loans is transparent; nothing is hidden from you. Everything is evident at the beginning for you to understand the terms and conditions and the agreement details. The exact date you should pay and the amount(s) you should pay plus interest are all spelt out clearly.

Customer service is also very responsive and attends to your problems urgently. You wouldn’t want any delay in receiving a loan; no one would like that. 

So they help you resolve your money issue(s) on time or any problems you face with the platform, so you do what you need to do without any interruptions.

Read more: Is Migo legit?

What happens if I default loan payment?

The longer you delay payments on Quick Credit, the more interest you will be charged. If you pay your loan on time, you save a lot of money that you would have paid as interest. 

Using their money calculator, I found out that if you take a loan of N5,000 and pay it within ten days, you will pay an interest of 10% – meaning the total amount you will pay is N5,500. 

However, if you pay back within 20 days, your interest increases to 20%, and your total amount will be N6,000.

So the earlier you pay back, the more money you save for yourself.

Is Quick Credit registered with CBN?

Yes, Quick Credit is registered with CBN. Quick Credit is licensed by the Central Bank of Nigeria to operate financial transactions and moneylending services. 

The registration ensures that Quick Credit has the backing and protection of the government to give out loans. So Quick Credit is a hundred per cent legitimate.

Does Quick Credit have an office?

Yes, Quick Credit has an office. Their office is No 43, Churchgate street (Nurses House), Victoria Island, Lagos, Nigeria. 

This is the only known office address for Quick Credit presently.

Read more: Is Quick Check loan legit?

How to get started on Quick Credit

There is no app for Quick Credit. Here’s how to get started using their website.

1. Visit the website on your browser.

2. Click on the three lines at the Topmost right-hand corner.

3. Click on Register

4. Provide your username, name, and email address.

5. You will also be asked to provide a phone number (which should match that of your BVN), create a pin, and also upload an identification document. Click on ‘Get Started.

6. A token or OTP will be sent to your email address. Enter it into the space provided, and click on continue.

7. You will then be asked to provide your BVN. Fill it in, and click on continue.

8. Your account is now ready to be used. Verification of your BVN might take up to 5 mins.

9. Once it is successfully approved, you can start applying for loans.

Final thoughts

What better platform to get a loan from than Quick Credit? With Quick Credit, you get loans in five minutes without collateral, no delays, and no hitches. Whatever loan you need, you are guaranteed to get it.

The platform is registered with the CBN, hence, you won’t be defamed if you genuinely default on your loan payment.

They also have a physical office you can visit in the event of disparities in loan reconciliation.

Back to the original question, is Quick Credit legit or a scam?

I am sure that your questions have been answered. If you have any thoughts, I would love to hear them from you!