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Blue Cube loans was an unsecured lender operating in Ireland. Established around April 2007, the company had great expectations and a customer focused attitude.
Personal loans from Blue Cube loans could be used for any purpose, such as home improvements, car purchases, holidays or debt consolidation solutions. They accepted customers with impaired credit history, but the APR rate for higher risk customers could increase (according to Blue Cube loans this was mainly due to the personal circumstances surrounding the application, although it is common practice for lenders to increase interest rates for customers with bad credit).
They operated and accepted all loan application via their telephone number, but they aren't accepting any new loan application at the moment.
One of the main criticisms of Blue Cube loans was their 7.9% APR variable. Some loans could cost customers a total interest charge of almost 2000 euros, which weren't competitive with other personal finance solutions on the market.
The maximum APR is 16.9% - if you found yourself in a situation where you were paying a long term loan at 16.9% APR you could be terribly out of pocket. With the rise in lending over the UK and Ireland in the past few years, more lenders began offering cheaper finance solutions at lower APR rates, over flexible periods. One of the reasons Blue Cube loans aren't currently trading may be due to the high demand in loans from consumers and the increasingly cheap interest rates offered by competitors.
If you currently have a loan with Blue Cube you should contact them on the number you were given to ensure nothing has affected your repayments or application. It is unlikely they will change repayments.