Despite making the news for negative reasons, including the nefarious activities of scammers known as loan sharks, lending apps continue to fill the void left by traditional commercial banks by providing quick loans to many Nigerians. For vouchers that uphold the company’s ethics, the market remains vibrant to explore as millions of Nigerians in need of emergency funds continue to take advantage of the various platforms.
Carbon is one of the few known to have built a good reputation over time in the industry. Formerly known as One Credit, Carbon Loan is a money lending platform that only targets employees who urgently need a sum of money to meet a personal need.
Carbon provides a range of financial services including personal loans, business loans, payments, remittances, credit ratings, savings and investments. The carbon loan application process usually takes less than 5 minutes. Their rates vary from 2% to 30%, and it depends on the repayment term of the loan and the amount of money you want to borrow.
The Carbon app is flexible with a beautiful design and a simple user interface. While many app users attest to how smooth and easy the app is to access fast loans, the latest app update seems to be a problem for some users. Some app users who have spoken with Nairametrics have this to say about their experience:
According to Taiwo Olawale, Carbon is the best loan app he has ever used. “Their repayment process is quite simple and the app is very user friendly and easy to navigate. As far as the repayment schedule goes, they are quite flexible with repayment options ranging from 14 days to 6 months and more depending on the rate. interest rate that the lender is comfortable with. They are quick in providing customer service and quickly resolve any issues their users have,” he said
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For Precious Olaiya, although she considers the interest rate on the app very high, she confessed to having a smooth experience on the platform. She says: “Carbon is a great app, well designed with a user-friendly and simple interface. I couldn’t believe an app could be this great. The process was smooth. Once you have all the correct information they need, your request will be processed within minutes.The awesome part of everything was that my loans were done on Saturday.However, the interest rate is high.
Another user, Tosin Salami, said he was enjoying the app until recently when it was updated and he started having issues. “I have been enjoying this app for 3 years, applying for loan seamlessly and repaying sooner than expected. But after the recent update, the experience became terrible. After repaying my loan successfully, the application has again denied me access to the loan despite the assurance from the team that I am qualified for a higher amount.I have contacted the support team several times with no solution in sight.Very bad experience from Carbon,” he said.
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Google Play Store Reviews
On the Google Play Store where the app has been downloaded over a million times, the app also enjoys positive reviews, the only hiccup being issues with its recent update.
Emmanuel Aluyi wrote: “The most recent update was frustrating. I can’t connect, always giving me an internet connection error, even though I have a connection. I decided to clear app data to start over, and it made things worse. I can’t even load the app. It will open for a few seconds, then give me a “Failed to load configuration” error, then close.
Another user, Shamah Godoz wrote: “Over the past 7 months, Carbon’s software has experienced serious issues. They say they solved it, but it fails again. I wasted time and trades on this app. And after using their lending features and building their credit for over two years, they ask me to verify my account again. And guess what… verification failed in the last three months. I don’t think I can yet. As soon as I can withdraw my money, I’m leaving. Nice investment feature though.
Buchi Maximus wrote: “Everything has gone well so far. Although the downtime is there, I like that you are informed. However, I think the transaction details should be done in a way that you can open them whenever you want to see them, and not everything will appear on your screen once you open the app. And please fix the backup of the beneficiary. I love the app, the pinch of money from other banks I was experiencing has come to an end.
For Bello Adebayo, his problems with the app also started with the latest update after 3 years of smooth experience. “Excellent payday loan app. I’ve been using it as an alternative bank for my daily financial transactions since (sic) 3 years ago when it was pay later and I’ve enjoyed the service. However, recently, I got a notification that I needed to update the app and I did, but I haven’t been able to use it since the update. It hasn’t stopped loading for two days Developer or operators should fix this bug or issue in time before losing more users”, he said.
Faith Okoro says she has been using the app since 2018 and it was wonderful “until this update problem came and ruined everything. Whoever came up with this idea didn’t do well at all. It’s almost impossible to upgrade to level 3 and now I’m getting reduced amounts with outrageous interest rate. Please make Carbon what it was, it becomes like every other garbage app on the internet, I’m really disappointed, I should never have updated my app.
Cecilia Oduh’s experience was no different. According to her, the Carbon app was comfortable for her for years until a recent update arrived. “I’ve been using this app for years with no issues. I’ve been working with no issues but recently I started having issues with it. I topped up for my on time and accurate payments but I can’t I can’t access it. Even when I’ve met the conditions, I’m still denied my top-up, which is very unusual at Carbon. It’s not a good one,” she wrote.
The Carbon app is undoubtedly one of the best when it comes to lending apps in Nigeria. The recent experience shared by the users shows that the owners of the app should fix the bugs that create issues that did not exist before on the app.
Based on our analysis of the app and user experience, Nairametrics rates this app 7/10.