Looking for Tappily Loans?
Tappily are no longer be lending, but the good news is that you can get an alternative like Drafty. Oh, and we’re cheaper too.
Who are Tappily?
Tappily was a UK-based provider of flexible credit lines of up to £2500 that allowed customers to access short-term funds as needed. Unfortunately, Tappily went into administration on 9th January 2023. This means that they are no longer lending.
But don’t fear, there’s an alternative to Tappily.
Drafty offers a line of credit of up to £3000. We offer quick applications, and if you’re approved, we’ll send the cash to your bank in 90 seconds.
Oh, and did we mention that we’re cheaper too? Tappily’s interest rate per day was 0.34%, while Drafty is only 0.19% per day.
Why has Tappily stopped lending money?
The Tappily website states that the economic and regulatory changes stopped them from lending. They are no longer lending as the company has gone into administration.
How much Tappily used to lend?
Tappily used to lend up to £2500, in the form of a credit line. Although they even used to lend more than that amount but that would usually depend on the individual’s circumstances and situation.
How Is Drafty different to (or better than!) Tappily?
When people choose to borrow from a lender like Tappily, it’s usually because they’re facing an unexpected or urgent expense and need access to quick credit.
Drafty’s line of credit can offer the same relief, but with a few extra perks. The amount you can borrow is more, up to £3000, which means even more flexibility.
But the biggest difference? We’re cheaper than Tappily. Tappily’s interest rate per day was 0.34% for every £100 borrowed, while Drafty is only 0.19% per day.
Representative Example: Assumed credit limit: £1200. Representative 96.2% APR (variable). Annual interest rate 69.4% (variable).
So, look no further. For a credit line like Tappily, choose Drafty!
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
Does Drafty offer loans like Tappily?
Drafty offer a credit line just like Tappily, but in our humble opinion, ours is a whole lot better. We provide a line of credit that gives you almost similar things which you might get from Tappily too.
But we’re cheaper and quicker and in fact, once you’re approved for our line of credit, we aim to send the money to your bank within 90 seconds.
If you’re looking for an alternative to Tappily, Drafty’s line of credit could be just the answer.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
Why choose Drafty as an alternative to Tappily loans?
| Drafty | Tappily |
| We’re fast. Applications typically take just a few minutes. And often, we give near-instant decisions! | With Tappily, initial account approval could take up to 24 hours |
| If you’re approved, we’ll send the cash to your bank in 90 seconds | According to the Tappily website customers receiving cash usually took less than 15 minutes but could take up to 2 hours |
| Drafty offer up to £3000. More cash means more flexibility – and you only pay interest on what you use! | Tappily offered credit lines of up to £2500 |
| Drafty interest rate per day is 0.19% meaning you pay £0.19 in interest for every £100 borrowed | Tappily’s interest rate per day was 0.34% meaning you pay £0.19 in interest for every £100 borrowed |
Representative Example: Assumed credit limit: £1200. Representative 96.2% APR (variable). Annual interest rate 69.4% (variable).
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
Am I eligible for Drafty line of credit?
To apply for a Drafty Line of Credit you’ll need to be:
- A UK resident with an active bank account and debit card
- 18 or over and employed
- Earning at least £1,250 a month
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
How can I apply for a credit line with Drafty?
Once you’ve checked your eligibility, you can apply for a credit line online. Our application process is simple and shouldn’t take you very long to complete.
We’ll need some details from you to assess your affordability and if we’re confident that we can lend you the money, we’ll agree on a credit limit with you. We’ll send the cash to your bank within 90 seconds! See, we told you it was straightforward. See for yourself and apply now.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
FAQs - Tappily Loans
Is Tappily a payday loan?
No, Tappily was not a payday loan. Tappily was a type of revolving credit, not a loan. This type of credit allows you to borrow money up to your limit, and only pay interest on what you use. Sound familiar? Drafty is a lender like Tappily and we also offer a line of credit, but with a few added extras.Who is Tappily owned by?
Tappily was owned by Indigo Michael Limited (IML). It’s worth noting that Joe O’Connor, Clare Kennedy, and Simon Appell of AlixPartners were appointed Joint Administrators of the Company on 9th January 2023.Is Tappily safe to use?
Yes, Tappily was safe to use but they are not lending anymore. Their parent company was called Indigo Michael Limited (IML) and was authorised by the Financial Conduct Authority (FCA).The FCA exists to make sure that financial institutions follow best practice and treat consumers fairly. This is why borrowing from FCA authorized financial institutions is broadly safe. But keep in mind that borrowing should always be a last resort.
Does Tappily affect your credit score?
Yes, applying with Tappily could have affected your credit score but they are not lending anymore. It is important to keep in mind that applying for any type of credit will affect your credit score. The reason behind this is that every time an application is made, the lender might do a “hard check” on your credit file. This will leave a mark on your file.Drafty is an FCA-authorised provider of a Revolving Line of Credit with a credit limit of up to £3000, available to borrow as and when you need it (subject to affordability checks). You only pay interest on what you draw/use.
Representative Example: Assumed credit limit: £1200. Representative 96.2% APR (variable). Annual interest rate 69.4% (variable).
There is no set minimum or maximum repayment term, so long as the minimum monthly repayment sum is met, however, you may repay back early without any fees and save on interest.