All applications will be considered by an expert member of our loans team, rather than by a computer or automated process. We think that’s fairer, because everyone is different and it allows us to take your full circumstances into account. When considering your application, we’ll look at your previous credit history as well as your income and other financial commitments, to ensure the card is the right fit. Taking repayments directly from your salary means more security for us. This in turn usually allows us to offer greater flexibility and better rates than other providers. 

When you apply, we’ll use a credit agency to check your credit status. We’ll conduct this as a ‘soft’ search, which means that there will be no record on your credit file if your application is not approved. If you are approved for a card, we will regularly update credit reference agencies with information about your outstanding balance and repayments. Staying up to date with repayments is likely to have a positive impact on your credit file. Because we make it easy to repay, this card may be a good way to build your credit score. On the other hand, missing or falling behind with payments will hurt your score, and may make it harder to get credit from us or other providers in future.

Leaving the Forces may mean we can no longer take your payment directly from your salary (unless your new employer also offers salary deduction with us). You will remain a member of the credit union, but will no longer be eligible for a Forces Finance card. After your leaving date, you will no longer be able to use your card. Any balance left on the account will be converted into a loan with us (at the same rate of APR) and repayments will continue via direct debit. To make sure this all happens smoothly, please let us know if you are changing employer as soon as possible.