September 3, 2015

What is CommuterClub all about?


We all know commuting in London is expensive. We started CommuterClub when we realised over 2mn London commuters are losing out on over £400mn of savings every year by not using Annual Travelcards.

Annual Travelcards are a great deal for regular commuters, the problem is they cost thousands of pounds upfront. At CommuterClub we make Annual Travelcards affordable by spreading the cost into monthly payments.

We wanted to create a product that our friends and families would be happy to buy. That means a simple and transparent monthly payment plan with no hidden fees, one interest rate for all our customers, and fixed payments amounts so there are not nasty surprises. Best of all, it means no lock-up or contract period, our customers can cancel whenever they want - no notice period, no fees, no commitment.

Part of this involves changing the way the credit industry is portrayed. Unfortunately, the behaviour of certain companies has unfairly tarnished the reputation of the lending community as a whole. At CommuterClub on the other hand, we believe that loans when done in a transparent and honest way, are a very sensible way to manage finances.

We are committed to a new transparent and more ethical approach to lending. The company decided to bypass the traditional banking system from the outset and work with crowdfunding via peer-to-peer to finance all instalment plans, ensuring the lowest cost possible for our customers. CommuterClub loans are therefore funded by UK lenders who themselves are often commuters.

Today, CommuterClub helps hundreds of Londoners like us save on their commute with our low cost payment plan. Because we know that every penny saved on the trip to work, is a penny you can spend on what really matters.