118 118 Money

118 118 Money: loans and credit cards for customers with limited credit history

118 118 Money is the trading name of Madison CF UK Limited, a company registered under number 08393840 with its registered office at 71-73 Carter Lane, London, EC4V 5EQ. The entity is authorised and regulated by the Financial Conduct Authority (FCA) under reference number 741774 and is also authorised by the FCA under the Payment Services Regulations 2017. It is a member of the Finance and Leasing Association (FLA) and subscribes to its lending code.

The company presents itself as an accessible lender for people who are often overlooked by traditional lenders. According to its own account, it has served over 800,000 customers and maintains a 4.8 rating on Trustpilot. In 2023, it relaunched the iconic 118 118 twins as part of its commitment to improving users' financial health.

Credit products

The offering is divided into two main lines: personal loans and credit cards. In both cases, the site allows you to start an eligibility check which, according to the company, does not affect the applicant's credit score.

Credit card

The card is designed for everyday spending, spreading costs, and building credit history with a single rate. The advertised credit limits range from £250 to £5,000. The representative rate is 49.0% APR variable. The representative example on the site corresponds to a credit amount of £1,200 with an interest rate of 49.0% per annum variable and a representative APR of 49.0% variable.

Personal loan

The personal loan offers a fixed amount up front with scheduled repayments that make the cost clear from the start. The available amount ranges from £1,000 to £8,000. The representative rate is 49.9% APR. The representative example indicated is a credit of £2,000 over 24 months, with a fixed interest rate of 41.2% per annum, 24 monthly payments of £123.64, and a total amount payable of £2,967.43, with a representative APR of 49.9%.

Customer profile and conditions

The products are aimed at UK residents aged 18 and over. Credit approval is subject to the applicant's status, affordability, and the relevant credit checks. The company emphasises a transparent approach, with no sneaky small print or hidden fees, and simplicity as a communication principle.

118M8, the financial tracking app

The company has launched the 118M8 app, presented as a financial fitness assistant. The tool helps you visualise spending differently, spot spending patterns, and make everyday money decisions easier to understand. Its approach is to show spending in hours of work rather than in pounds, so that users can better appreciate the real cost of their purchases.

Regulation and transparency

Madison CF UK Limited operates under the supervision of the FCA and provides payment services in accordance with the 2017 regulations. FLA membership and adherence to its lending code reinforce the customer protection framework. The company publishes information on its website about terms and conditions, privacy policy, complaints handling, and mandatory statements, including the anti-slavery statement and the s172 statement.

Location and contact

71-73 Carter Lane, London, EC4V 5EQ