What is Payl8r and how does it work?
Payl8r lets you get your new tattoo without having to worry about the costs. They offer flexible payment plans, letting you decide how to pay it back.
They don’t penalise you for having a thin credit file and they use a soft search which will not affect your credit. If you do have a thin credit file there will assess your affordability instead.
How long do I have to repay for my tattoo?
It’s entirely down to yourself, you have up to 12 months to repay it. Payl8r will give you alternative options to suit you.
What is the interest rate on the finance?
Interest rates range from 0%-4% per month. Your interest rate will depend upon the length of time it takes you to repay the loan and also your credit score. These will be provided to you by Payl8r.
Will I qualify for finance?
To qualify you must have .....
- No CCJs within the last 3 years
- No accounts in default
- Be a UK resident
- Have online banking
- Have a regular source of income
Do I need a deposit?
Yes - the standard deposit is 10% and it is only taken once you have been accepted by Payl8r.
How does it work?
Phoenix Tattoo will give you a quote for the tattoo that you are looking for. If you decide that you would like to apply for the finance option, you will be given a link to the Payl8r portal where you will fill in an application form. This will take around 60 seconds to complete and in most cases the decision is automated and is given within 30 seconds.
Once you have been approved for the finance, Phoenix Tattoo will be able to book you in for your tattoo session or sessions.
How does Payl8r assess your affordability?
If you fail a traditional credit check, rather than rejecting your application, Payl8r may give you the option to submit your affordability instead. They will ask you to submit a 90 day bank statement to support your application.
I am already booked for a tattoo, am I able to apply to finance the balance?
Yes you can, we are happy to do that for you. You will need to pop into the studio to discuss and we’ll show you how to apply. The finance needs to be approved no later than two days before your scheduled tattoo appointment.
Does Phoenix Tattoo have access to my financial or personal information?
No. Only our partner Payl8r has those and the application form you are completing is on their portal. Phoenix Tattoo will only be informed whether your application has been accepted.
Is Phoenix Tattoo a money lender?
No, we are a credit broker for our finance parter Payl8r. They are a trading name of Social Money Ltd, a company registered in England under company number 08054296. They are authorised and regulated by the Financial Conduct Authority.
For more information please see Payl8r’s website; https://www.payl8r.com
