CreditPlus Review

What CreditPlus actually is - and what it was

The CreditPlus brand is now operated by Jump Finance Ltd (FCA #953084). The brand was previously owned by Whichdeal Ltd, which went into administration in December 2022. Jump Finance acquired the brand and the book.

Why does this matter? Because if you took out finance through CreditPlus before December 2022 and believe you were mis-sold - whether through a discretionary commission arrangement or any other grounds - your claim sits against an insolvent entity. You can register as a creditor in the Whichdeal Ltd administration, but recovering money from an insolvent company is slow and recovery rates are typically low. The new entity, Jump Finance, has no legal obligation for the old company's liabilities.

That's not an accusation of wrongdoing by Jump Finance. They bought a brand. But it's material information for anyone considering CreditPlus, and we haven't seen it explained clearly anywhere on the CreditPlus website itself.

The "find, fund, deliver" model

CreditPlus describes itself as a concierge service. Like Zuto, they'll help you find a car from their dealer network, arrange the finance, and handle delivery. It's the full chain in one place.

For someone who wants to hand off the entire process, the model has appeal. The question is always whether the convenience justifies the cost - and at 23.9% representative APR, that's a significant cost to justify.

The Trustpilot score

3.2/5. That's low for the car finance sector. CarFinance247, Zuto, and Oodle all sit at 4.8/5. Carmoola is at 5.0/5. A 3.2/5 score on 1,640 reviews is not a statistical blip.

The negative reviews cluster around two themes. First: the rate offered at the end of the process is higher than the rate indicated at the beginning. Bait-and-switch is a strong phrase, but it's the one that appears in the reviews. Second: pressure to commit quickly to a deal before the offer expires. Both complaints are consistent with a high-margin broker model under pressure to close.

The positive reviews do exist - people who found the service helpful and the staff responsive. The distribution is just more polarised than you'd want to see.

Who it's actually for

CreditPlus's panel covers the full credit spectrum. The 9.9% floor rate is competitive for near-prime borrowers, though the 23.9% representative APR means most applicants land well above that. If you have adverse credit and have been declined elsewhere, the broad panel may find a lender when others won't.

But the combination of a high representative APR, a low Trustpilot score, and the rate discrepancy complaints means there are better starting points. CarFinance247 and Zuto operate similar models with higher customer satisfaction and slightly lower representative rates.

The numbers on a £12,000 car

£121 more per month than a bank loan. £7,200 more over the term. Same car. Run your actual offered rate through our car finance calculator before you agree to anything. The gap between the initial rate and the final offer is a known issue with this provider - see the figure in writing before you commit.

The administration and what it means now

Whichdeal Ltd entering administration was not caused by customer mis-selling - it was a business failure. Jump Finance buying the brand was a commercial decision. The FCA has authorised Jump Finance separately, so the regulatory oversight is current.

The practical consequence is simpler. If you took finance through CreditPlus pre-December 2022, your contractual relationship was with Whichdeal Ltd. Any dispute about historic finance - DCA claims, mis-selling complaints - goes to the administrator, not to the current CreditPlus. The Financial Ombudsman can advise on your options.

For a new applicant today, this is less relevant. Jump Finance is a functioning authorised firm. The concern for new customers is the APR level and the rate discrepancy pattern in the reviews.

The verdict

CreditPlus isn't the right first call. The representative APR is the highest in our review set, the Trustpilot score is the lowest, and the corporate history adds a layer of complexity that other brokers don't carry.

If you've exhausted other options and CreditPlus's panel finds a lender willing to fund you, get the final rate in writing and run the total cost through a calculator before you sign. Don't let a time-pressured sales call push you into a 5-year commitment.

Before you apply anywhere

• Check your credit score for free (ClearScore, Credit Karma, MSE Credit Club)
• Try your own bank's personal loan calculator first - even an imperfect credit score may qualify
• Compare CarFinance247 and Zuto before CreditPlus - similar model, better Trustpilot scores
• Run the numbers in our car finance calculator
• If you had finance through CreditPlus before December 2022, contact the Financial Ombudsman about your options