Winner of "Innovation of the Year" at the 2018 Consumer Credit Awards, Drafty offers lines of credit with flexible repayment options. Winner of "Innovation of the Year" at the 2018 Consumer Credit Awards, Drafty offers lines of credit with flexible repayment options.
Rather than lending you a lump sum which immediately starts accruing interest, Drafty gives you a "pot" of credit. You can use it as and when you need it, and interest is only charged on the money you've used.
This means Drafty isn't a payday lender. The system works a bit more like a credit card than a payday loan.
To be eligible for a loan, you need to earn at least £1,250 a month, and you have to be in full-time employment. Fill in a short questionnaire, and Drafty will offer you a suitable amount of credit for your needs. The most you can get is £3,000, which is one of the higher maximums on the market for credit lines.
Repayment plans are tiered and flexible, depending on how much you borrow and the answers you give to the questionnaire. Make sure you're clear on what you need to pay back and when before agreeing to take out any credit.
Once you're set up, you can check your repayments and manage your credit line through Drafty's website or app.
Drafty is authorised by the Financial Conduct Authority (FCA). If you've used Drafty's line of credit, leave us a review and let us know what you thought of it.
Winner of "Innovation of the Year" at the 2018 Consumer Credit Awards, Drafty offers lines of credit with flexible repayment options.
59% of feedback is Process related
Top Age Profile: 45-54
Top Channel Preference: App
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Awful company. Due to Covid-19 I have issues making payment which I called weeks ago to resolve, but could not get through and was told in a voice mail to contact them via email. So sent them a message advising this. I got no reply at part from an... Read more
Awful company. Due to Covid-19 I have issues making payment which I called weeks ago to resolve, but could not get through and was told in a voice mail to contact them via email. So sent them a message advising this. I got no reply at part from an auto response. Called again a few days later and same thing. So sent another message and included the original message. Meanwhile I kept getting emails advising I had missed payments. Got a default letter today and called and met with same response. No one it taking calls nor answering any messages. Shocking in light of what is happening around the world.Reviewed on 2nd May 2020Aaron Newman
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Changed the available balance on my line of credit right after I made a big deposit of £1000 assuming I could take it out later. So you can't trust your credit limit is going to stay the same. And then no answers to my communication. AvoidReviewed on 28th April 2020J
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Unprofessional vile... Read more
Unprofessional vile treatment
After using drafty for a few months In 2019 I became very unwell and couldn’t work for a while, I contacted them to advise of my situation and they froze my account for 30 days. My personal situation became worse (mental health related) and I fell behind with a lot of my bills and after speaking to debt advisors I was advised to gain evidence from my doctor to advise that my mental health condition at the time I was using drafty was that I wasn’t in a position to have taken out these loans and therefore requested they take a look at helping me out with the debt and possibly writing the debt off completely as my diagnosis is a lifelong one and my contracted hours of work had been reduced for the foreseeable future and after completing a financial statement the debt was almost definitely uneconomical to collect they took six months.....yes six months! To give me a final response to my request but not before making me endure months of endless calls and emails chasing this up being asked for more information each time everything they asked for I gave them so many wasted hours and they dragged it out sometimes taking weeks to respond to an email I spoke to countless agents of the phone whom I found to be unhelpful unsympathetic and instead of helping me caused more and more stress each time I tried to get a response, but the icing on the cake was when they eventually sent me a final response stating they would not be writing my debt off but would put my account on hold for six months and not contact me in that time or pass my debt and info onto a debt management/third party, a week later I had an aggressive email from a third party saying they had acquired my outstanding debt from drafty!!! I was livid and you would think when informing drafty of their huge error they would be apologetic and take back the account from the debt management agency as soon as possible? No drafty insinuated I was lying or mistaken and that they hadn’t passed on my debt or breached my data protection and caused horrific undue stress by selling my debt to a third party! ( I asked the manager I was speaking on the phone with at the time if drafty hadn’t done this how on earth had this company acquired my full name full address email address home mobile and work numbers plus the fact I had an outstanding balance with drafty with the correct full amount my full work address my job role and all my sensitive personal medical information) and after more countless emails and calls and denials they eventually accepted that they had made an error I logged a second complaint requesting they investigate this error and compensate me for the data protection breach and all the stress that this has caused to which they refused to compensate me a single penny for this nightmare experience. They did however change the decision to write off my debt???Which on one hand is great as this was what I originally requested but on another angers me that they first took 6 months to reply and reject my request but once they realised the big error they made they change their mind??? which is inconsistent and contradictory. Drafty you either stick to your cold hearted attitude of you lent the money so you owe it and we don’t care about your circumstances and can’t and won’t be writing off your debt. Or as well as writing off my debt also compensate me for all the inconvenience and stress this has caused (i had days were I had literally been on the phone back and forth shouting for hours as it was so difficult to communicate with anyone)
I have passed my complaint onto the ombudsman’s and will await the outcome. A word of warning to anyone thinking of using drafty pray you never become ill or suffer financial difficulties because drafty dont Care about people just money! and are not compliant or responsible with peoples data I wish I had never used them and hope the ombudsman see in my favour!Reviewed on 20th February 2020shane
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Easy and clear application form
Really like the concept of an open credit, that I can pay back and / or draw back down against. Don't be put off by what seems high rates of interest as this is context of the small amount you are borrowing over short period of time - if you pay back... Read more
Really like the concept of an open credit, that I can pay back and / or draw back down against. Don't be put off by what seems high rates of interest as this is context of the small amount you are borrowing over short period of time - if you pay back what you owe and manages finances sensibly then Drafty is a great optionReviewed on 14th August 2019Jim
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Just in case
Sometimes you need extra money....not that i totally agree with borrowing, but what are you supposed to do when your 25 year old car is up for the MOT? There`s a likely hood I`ll need to pay for some work to be done. Drafty seems straightforward... Read more
Sometimes you need extra money....not that i totally agree with borrowing, but what are you supposed to do when your 25 year old car is up for the MOT? There`s a likely hood I`ll need to pay for some work to be done. Drafty seems straightforward enough, no complicated financial jargon. Make sure you read everything, twice if needed. There`s nothing wrong in borrowing as long as you understand what your getting into. The process was also straightforward, and knowing that money is there, just in case has taken a load off.Reviewed on 7th June 2019Samantha Guest-saunders
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