Find short term lenders on Lending Expert

Compare payday loans

MyJar Reviews [Read Our Expert Opinion]

Jane Wardle

Written by Jane Wardle on

Updated

MyJar reviews

Overall Rated: 4.7 / 5

Summary

At first glance, MyJar might seem to be just another payday loan lender, but their services are slightly different and show a greater understanding of people’s needs. They offer three different short-term loan packages for three, six and 12 months.

You do not need to be employed or own your own property to be granted a loan from MyJar, although you must provide evidence of a regular income. MyJar is also likely to take on borrowers with a poor credit rating thanks to their credit scoring system. However, as always it will depend on your individual circumstances.

Their credit scoring system is particularly worthy of note because it is designed to be an impartial service that helps ensure MyJar only carry out responsible lending. The Annual Percentage Rate (APR) is between 0.35% and 0.75% per day depending on the loan you opt for.

 

 

Trust & Reputation

Rated 4.7/5

The Financial Conduct Authority regulates MyJar. Furthermore, the lender has won a number of awards that celebrate and showcase their reputation and high-quality service. This includes the Future of Finance F5 award for being a responsible lender in 2016 and a reward from the British Credit Awards in 2017.

MyJar also received two awards from the Collections & Customer Service Awards (CCS) one in the Vulnerable Customer Support Initiative category in 2016 and one for the Best Customer Contact Centre Team in 2017. There is certainly a lot of evidence to show that MyJar has a very trustworthy and respected reputation.

Expertise & knowledge

Rated 4.7/5

MyJar will be celebrating a decade of service this year. However, they are still a growing business when compared to some loan companies. With experience and ambition, MyJar has a solid base as well as aspirations of growing further in the loan market. When you consider the sharp rise of payday loan companies in the last few years, MyJar does seem like the ideal choice for people looking for a company with a bit more experience.

The team at MyJar are available seven days a week and are proud to offer a more flexible service when compared to other payday loan providers. They also work with credit reference agencies to carry out affordability checks to help ensure more responsible lending.

They have a 9.1 rating on Trustpilot and have lent over 400 million pounds since their inception in 2008. With professional staff and an experienced track record of high-quality service, MyJar is certainly a knowledgeable and professional lender.

Customer Service

Rated 4.7/5

I mentioned previously that Trustpilot currently shows MyJar holds a 9.1 rating, with over 4,000 customer reviews. 84% of people gave MyJar the highest rating possible marking it as “excellent” while 10% of customers gave the lender a “good” rating.

Only 2% of people rated MyJar as “bad” the lowest rating on Trustpilot, and only 1% rated it as poor. MyJar also showed excellent customer service by conversing with customers who had left negative reviews and comments and directly addressing their concerns.

Likewise, they also showed their thanks to any positives received by replying to customers. MyJar showed a willingness to listen to both negative and positive feedback and take time to read customers comments, which is always a mark of a commitment to customer service.

The positive results were similar on other review sites. For example, Choose Wisely showed they had a rating of 4.7 out of five, with over 4,000 reviews. However, Google showed a rating of 3.5, although they had a much smaller number of reviews with only 19 to base this mark off.

We are independently reviewed by our verified customers and web users:
Rating: 4.7 / 4.7 with 1 votes

Lending Expert is a credit broker, not a lender.

We bring together the very best providers and deals from across the market place.