We are ranging phones to suit every need and budget. In order to help you finance your new purchase, we have been looking at solutions to help you spread its cost over several months, without asking you to sign up for a lengthy mobile contract.
In true giffgaff spirit, we are proposing a solution of peer 2 peer lending with RateSetter. This way, you can finance your phone purchases with a loan and spread its cost over 6, 12, 18 or 24 months. Please note that:
You must be aged 18-75 to apply for a RateSetter loan;
You must have lived in the UK for at least 3 years consecutively;
You need a debit or credit card, even if the loan covers the full value of the phone; and
Loans are only available on phones priced at £99 or more.
Members can have a maximum of two loans per account but only if 6 (or more) successful payments have been made on your first loan without missed payments.
This solution allows you to pay separately for your phone and for your monthly goodybag.
Note: Please be aware that you are responsible for all payments on the phone until loan completion. This also applies in the unfortunate event that you lose or have your phone stolen. The remainder of the loan must be paid regardless of time or outstanding balance on the loan bill.
If you are spreading the cost of your phone by signing up for a peer 2 peer loan then you will be credit checked as part of the application process.
You will be asked for your UK home addresses over the past 3 years in order to complete the check. Make sure to provide complete and accurate information during the purchase so the credit check will be run under the best conditions.
You can use external agencies to find out your credit score or head over to giffgaff gameplan for your own Free Credit Report. You can also talk to your bank or a personal financial adviser about your credit score and the best way to improve it.
If you are applying for a second loan to purchase a second phone from your account, please note that:
You must be at least 6 months into your current loan agreement, and
You must have 6 months (or more) of successful return payments with no defaults (missed payments).
A maximum of 2 loans per account.
You will go through another credit check.
If you are paying the full amount of your phone with your credit or debit card then you won't be credit checked, as you are not applying for a loan.
This will take you back to giffgaff Phones where you must complete the purchase by choosing the same phone you applied for the loan for and choosing to buy it again (the loan should now pay for the phone).
The initial checks are to verify that you can qualify for the actual order. Therefore, once you have been accepted for the loan, you can proceed with buying the phone.
Your phone will be delivered the next working day. Take a look atour guideto find more information about phone deliveryclick here.
If you don't have an active giffgaff SIM you’ll need to buy a minimum £10 goodybag with new phone purchases. You can stop future goodybag purchases. You cannot cancel this first one without cancelling your phone purchase.
You don't need to purchase a goodybag with any Pre-Owned phone order (unless you intend to use giffgaff, which we hope you do.)
No payment will be taken from your card until you pass the credit check and buy the phone.
There are a number of reasons why your loan application may be rejected. Most of the time it will be based on the result of the credit check, but it can also be caused by issues with the information provided.
Make sure to always provide giffgaff with true and accurate information so we can process your request in the best possible way.
In particular, please make sure that you are providing us with:
Your full legal name (shortened or usernames will be rejected)
Your own bank details. No loan application will be accepted if you are giving us someone else's bank details (even if they are living at the same address)
Your address. This must be where you live and where your card and bank account are registered. This is also the address which shows on the electoral roll. No applications will be accepted for business addresses.
Your correct date of birth. You must be at least 18 years old. When applying, make sure that your date of birth did not change when you scrolled down to the next field.
Please also make sure that you have enough funds available on your card to cover the initial payment. If applicable selecting a greater initial payment will reduce the amount you ask to borrow.
If you wish to have more information about your credit score, other companies can provide you with a credit report to help you understand your situation better and improve your credit score.
Note: If you are already a RateSetter user your loan application may be rejected because you are using the same email address as for your existing RateSetter account. In this case, you can use a different email on giffgaff to complete your loan application and your phone purchase.
2nd Note: The loan application will be automatically declined by RateSetter for members over 75.
If you are spreading the cost of your phone with a RateSetter loan, you may see that your order is showing as "Pending".
This means that the payment transaction is not complete and the order won't be sent.
This may happen when:
You are referred, this means that RateSetter needs more time to process your application. They will contact you to tell you about the outcome. If your loan is accepted, you can go back to the site and process your order (make sure to make the same selection). The loan will only be finalised when the order is validated. If you chose not to complete your order, the loan will be cancelled automatically.
Your loan is accepted but your card payment has failed. Your loan will be kept pending so you can re-attempt a card payment.
Please note that, if you are completing your order later, it will create a new transaction and the initial order will keep on showing "Pending".
Tip: Your loan is not valid until you complete your order. Look out for your order and shipment confirmations to confirm that your order went through.
Once your loan application had been accepted by RateSetter (our peer 2 peer lending partner), you will be able to go on and complete your phone purchase.
When you receive Ratesetter's email they will provide a link to the phone that you have ordered. When clicked, you will then be taken to the giffgaff site where you must confirm your purchase. The order process will begin and you will receive tracking information when the phone leaves the warehouse.
If you wish to check the details of your loan later or you want to make an early repayment. Please log in and go to My Loans. If you encounter an issue accessing the Repayment section, clear your browser's cache and cookies and log in again.
There is a variety of options available to manage your loan such as early payment or changing the Direct Debit date. You can manage your phone loan by clicking here.
See below some of the options available:
Pay off your loan in full by direct debit.
Pay off your loan in full with your debit card.
Make an extra payment on your loan.
You can change the date or the amount of your monthly direct debit.
NOTE: Starting 13th January 2018, there is no additional surcharge on debit card payments.
If you decide to return your phone as part of the Change of Mind policy or send us back a faulty phone and you wish to have refunded it will be processed in accordance with the Cancellation Policy. See here for the Returns and Repairs process.
Please ensure you use the correct repair centre address as available on your free returns label.
If your return is accepted then giffgaff's finance team will refund your debit/credit card with the amount of the initial payment and will contact RateSetter to cancel your loan.
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