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AA: Personal Loan reviews

Name: Personal Loan
Rating: 1.6 (45 reviews)

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1.49

Based on 45 reviews, last reviewed 4th Feb 2024

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

11%

2 star

83%

Latest highest rating:

5

Aa to the rescue I applied to consolidate debts. Quick easy application, Offered a great APR which will save me thousands on credit card debt. I dont have the best cre... Read more Reviewed on: 26th February 2023

Latest lowest rating:

1

AA Kredit is a fake application Because AA Kredit is a fake application because this application is not registered with the NBFC or the RBI also it takes an advance. See Here AA kredit Loan ... Read more Reviewed on: 4th February 2024

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About this product

AA personal loan reviews on Smart Money People are honest reviews. If you're trying to determine whether this is the right personal loan for you, reading our AA personal loan reviews can help you to find out what other people have to say. Smart Money People launched in October 2014 to help people like you to find the best personal loans. If you have used a AA personal loan, we'd love you to write a quick review too.

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AA Personal Loan reviews (45)

Good service

Good service, quick response, highly recommend Reviewed on: 14th January 2023

I felt like others - I need to write about my experience !READ IT!

Forget the eligibility checks! The real form will ask you for your debt, mortgage/ rent payments and they will ask you for your salary, be prepared to admit the truth. Firstly yes everyone advertises low APR rates, and by now be prepared to understand you will not get this rate, count yourself lucky if you do not, My application was processed and money in my account in 1.5 days, money always should be in your account by 14:30 - 15:00 before the working day cut off. I have given 3 stars for “Good Customer Experience” simply because of the following; I earn a fair amount which is considered a good wage, I have a low mortgage payment, and low bills. My Credit score is high, between Good/ Excellent between all the different credit agencies. Now AA and other lenders “obviously” know that if you “applied” for a loan and you know it will affect your Credit score with a hard search. You have done your search and now you are given double the Interest rate, this just makes me believe that the Lenders know…. after giving your financial history, and credit history, you have “Credit utilisation” to spare, than they will take advantage of that and offer you a double rate than advertised. This is what happened to me, unfortunately I am in a situation where I needed the money, this was my option and I am happy and content with the payments. Good luck to you all because the reviews are awful, and AA have a strict criteria, so if you missed payments I think it’s best not to apply. Reviewed on: 12th January 2023

Miss leading and dishonest

AA loans are to be avoided, they where recommended to me by a comparison site. Offered me a very competitive rate of 5% for a car loan. When I actually applied and they completed a Hard Credit search. They offered me nearly a 20% APR despite my credit being 991 out of 1000 on Experian. And earning £60k with zero debts at all. I was looking to borrow £20k and their quote I would have paid over £28k back!!! I was horrified - the next day I went into the main dealer and they financed me at 5% APR. Avoid AA like the plague! Their Trustpilot score is abysmal. Reviewed on: 12th January 2023

Border line fraudulent and/or highly incompetent people

Wasted a month of my time after the initial "approval". They had me send my entire financial history only to reject the offer despite my 999 rating and no other warnings with the fraud agencies. Their systems are extremely out dated, not fit for purpose. They insist on you removing bank installed e-security from PDFs or send screenshots of your financial data. They will absolutely not explain anything to you either and after having spoken to their support and their support managers, Im pretty sure they are not capable of explaining anything due to a complete lack of knowledge about their own systems and the industry they are operating within. Its scary that these guys are involved with finance products. Its an actual disaster in the making. Avoid them at all costs. Reviewed on: 11th January 2023

Good Experience

Felt that I had to write this to address anyone's concerns after reading the poor reviews. I took out a loan BEFORE reading any reviews, had I read them first it might have changed my mind, but I am of the opinion that people that have good experiences tend not to write many reviews. I decided to use AA Loans after using a comparison website that gave a good rate and 95% of being accepted. I continued with the application and was successful in getting the low rate. I signed the paperwork and was told the payment would be within 2 day. After not receiving the money after one and a bit days I decided to look at the reviews... I was shocked. After a few hours of worrying I checked my bank again and the money was there, well within the 2 days it suggested. So overall, very happy. If you have read the reviews and are starting to worry just hold tight, it might not be that bad! Reviewed on: 10th January 2023

Terrible

So when you have an excellent credit score , and on my credit karma app it suggests that maybe a loan will help clear your debts without costing you more . I thought yes ok i will go for it and the AA loan was the best in APR and also an existing customer, so I applied and heard nothing back at all ,then notice that my credit score had gone down just by applying? So really not worth it , I will stick to switching my cards to a 0% credit card when I need to and deal with my debts as I have been . And looking at other people’s reviews I would not have bothered steer clear , done more damage than good . Reviewed on: 8th January 2023

Money received in just over 24 hours

I rarely leave reviews but having read some them, I was quite concerned so wanted to provide some reassurance to future applicants. Applied, Apr wasnt as advertised but still the cheapest option. Money was received aittle over 24 hours, text received several working days later to say "final checks taking place" then a letter arrived a week later to confirm money had been sent. Spoke with AA customer services and they were fine with me Reviewed on: 4th January 2023

BAIT AND SWITCH APR - AVOID

Forget whatever APR rate you are shown by whatever '90-100% likely to be approved!' paid-for referrals site. Forget whatever low interest rate you are initially shown on the AA Loans site. Forget whatever maybe-slightly-higher 'example APR rate' they may additionally display (to keep you confused) - because, that's the example rate right? And you are really getting the first rate still largely displayed? - No. You wont even get this. What you WILL get is an actual APR double or worse the originally-advertised. They also wont tell you this UNTIL YOUR APPLICATION IS COMPLETE AND SENT and, yes, you just got a hard check on your credit score. CONGRATULATIONS. You just signed an AA Loans and the Bank of Ireland, who actually operate this deception, blank-cheque APR loan application. One which they'll happily fill in with whatever rate they like, at multiples of the originally advertised. You can now spend your next day arguing over the phone to cancel, but you will be stuck with hard checks on your credit record for loan applications YOU WOULD NEVER HAVE MADE had the APR been honestly displayed in the first place. This is bait and switch, pure. The AA should not be abusing members trust in co-branding with blatantly deceptive affiliates and referral sites should think twice whether affiliation with such shabby and predatory products as 'AA Loans' is really worth the inevitable loss of user trust. Reviewed on: 3rd January 2023

Incompetence at it's finest

Applied for a loan and was told it was approved. Offered an awful rate despite having outstanding credit. For some incompetent reason e-mails are sent requesting information, but you have to send responses back in the post - what an embarassment of a company. Reviewed on: 20th December 2022

Worst Experience

I applied for a loan and received a confirmation email and loan agreement to sign. 2 days later still no funds appeared so I called only to be told my application had been declined. Absolutely, ridiculous !!! Sourced my loan elsewhere Reviewed on: 14th December 2022

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