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No Credit Check Loans
Find out whether you can get approved for a loan with no credit check and get your application started with Savvy today.
- Borrow up to $5,000
- Outcome in 60 seconds
- Flexible repayments
- 100% online
Author
Savvy Editorial TeamFact checked
Author
Savvy Editorial TeamFact checked
Looking for no credit check loans?
Many people experience hiccups with finance. The fact is that when that happens, no credit check loans can be a good solution – but choosing the right lender is important. Loan providers who guarantee approval are a big red flag, and you’ll pay through the teeth to access funds that way. The good news is that Savvy can put you in touch with top lenders that look past your credit report. These loan providers consider a range of other factors when you need to apply for a loan with bad credit – and you stand a great chance of getting approved.
Get your credit back in check with Savvy
Thousands of Aussies just like you use Savvy to find lenders that match their circumstances. We deal with loan providers that offer a range of products designed to suit borrowers with less than perfect credit scores, and qualifying for a loan is straightforward. We can quickly connect you with a lender that meets your needs – even if your credit report isn’t super-healthy – and you can get everything done online. Having past credit problems doesn’t mean you can’t qualify for finance. At Savvy, we’re in the business of helping you do just that.
*NOTE: all loan applications, including small loans, are subject to a credit check by your lender prior to approval, which is in line with Australian responsible lending regulations. As such, no credit check loans aren't available in Australia.
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The savvy way to access and repair a bad credit report
How to Access Your Credit Report
If you're chasing a no credit check loan with instant approval, knowing what’s on your credit report and holding you back is the first step to rebuilding your credit check prospects. It’s essential to check your credit report whenever you can and to monitor it regularly. You can check it free of charge once every year, and you’re also entitled to take a free peek each time you get turned down for credit. If you spot anything inaccurate, get in touch with the provider and have things brought up to date.
How to Examine Your Credit Report
Defaults, late payments, and even court judgements and bankruptcies remain visible on your report for varying periods. Late payments stick around for five years – but it’s worth knowing you can ask a credit provider to update a late payment entry once it’s paid. Even though the payment was late, lenders will look more favourably if you made an effort to settle it eventually. Part Nine Credit Agreements and Court judgements stay on your history for five years, whereas bankruptcy usually gets removed two years after you get discharged or five after you file. Look out for credit check entries that don’t add up. That could be an out of date relationship status that connects you with the creditworthiness of an ex-partner. Credit providers also sometimes forget to update entries on your report, which can lead to problems when you apply for a loan in Australia.
How to Repair Your Credit Report
As counter-intuitive as it may sound, using credit can be an excellent way to recover from a bad credit check. The fact is that having no history can make it just as challenging to get a loan as having a couple of late payments on your report. You can use shorter-term bad credit cash loans to start rebuilding creditworthiness. Start small and work your way up. Every time you make a payment on time, your credit score will improve. One good reason to take out a loan with bad credit can be to consolidate existing debts and make them more manageable. Paying off one loan on time every month is a lot easier than managing a few credit cards and an overdraft, for instance. The more organised you are, the more lenders will like you.
How to avoid a Bad Credit Report
It’s important to budget wisely. Biting off more credit than you can chew is obviously a terrible idea – yet, most borrowers get into trouble because they fail to allow some contingency. Plan for the worst in terms of unexpected expenses, and borrow less than you can afford. Avoid applying for credit too often. Every time you do, lender checks leave a visible impression on your credit report, and loan providers don’t like to see too many in too short a time. By comparing with Savvy. you get an instant decision on a loan even with bad credit.
Qualify for a no Credit Check Loan
No matter your credit history, the key to qualifying for finance is finding the right lender for your unique needs. If you're looking for a loan ASAP with no credit check, Savvy can help you recover from credit check problems. We partner with lenders who consider more than just your credit past and will let you begin a new credit future. Just get online, fill out our simple form, and we’ll automatically match and connect you with your ideal loan provider. From there, it’s just a case of filling out the lender’s forms and uploading a few documents. You can do everything online from a phone or laptop, and the process is swift.
Your frequently asked no credit check loan questions
Part of being a responsible borrower is not over-extending. You’re far less likely to have credit check issues if that’s the case – and responsible lenders should be protecting you from that. If a loan provider agrees to approve you for a quick same-day loan with no credit check, that means they care more about taking your money than whether a loan is right for you. It also indicates that they may well be in breach of their credit licence. You’ll pay too – both in terms of extortionate rates and high late payment fees – and they’re bound to add up if you can’t afford the loan in the first place. Reputable lenders work differently. Although they don’t run a credit check with an agency, they do check to see what you can afford- and won’t put you in financial hardship. There are strict rules in Australia about responsible lending, and sourcing a loan via Savvy is a great way to ensure you find a reputable, licenced provider.
Savvy has established relationships with reputable lenders who offer loans up to $5,000, but you can borrow from $2,050 too. One tactic that bad credit borrowers use to repair their status is to pay off a series of smaller loans over time. That will see your credit score improve.
No credit check cash loan lenders assess applications based on a few factors – but they either won’t run a credit check at all, or it won’t be a defining requirement for approval. They’ll look at your income and spending, and examine your bank statements to make sure you can afford repayments. Loan providers will want to see a few months’ worth of those to ensure your income is regular. If your loan gets approved, the lender will record that on your credit file.
No credit check loans get used to cover just about any expense you can think of. Savvy helps thousands of Australian borrowers to deal with unplanned events like medical bills, unexpectedly high utility costs, and even car and house repairs. Cash loans also get used for nicer things like holidays, paying rental bonds, buying gifts for friends and family, and even work or business-related equipment or training. Because they’re not secured against a purchase like a car loan is, no credit check loans are incredibly flexible.
Generally, lenders charge for their services based on risk. That’s to say, the riskier a borrowing prospect you are, the more you’ll pay. For instance, car loans employ an annual percentage rate (APR) to formulate costs. That’s not to say car loan providers don’t also include fees, such as establishment and monthly account charges too. The good news is that smaller, shorter-term products like no credit check loans don’t use the APR system and instead rely on fixed fees. Those charges get strictly capped by the government, so although no credit check borrowing is costlier than some other finance, things can’t get out of control. For loans up to $5,000, the most you’ll pay in establishment fees is $400. Instead of an APR, repayment fees get capped at a percentage of the original borrowed amount. That’s set at 4%, and it can never exceed 48% annually.
No credit check lenders will consider applications from anyone who’s eighteen years or over and a resident or citizen of Australia. You don’t necessarily need to be employed, but more than half your income shouldn’t come from benefits. Savvy partners with lenders who provide no credit check loans for Centrelink customers, and even if you’re self-employed, loans are available. If you’ve already left the workforce, no worries, Savvy also deals with a range of lenders who provide no credit check cash loans for people on age pension. The main qualifying factor for a no credit check loan is that you’re able to repay without hardship. Lender requirements vary, but Savvy will always look to match you with one that suits your circumstances.
You’ll need to have a few simple documents on hand. Once Savvy has connected you with the ideal lender, they’ll ask you to upload a copy of your driving licence or passport as proof of ID, and you can use a utility bill or similar to prove your address. The loan provider will want copies of three months’ worth of bank statements – and you can also grant access to those securely via their website. If you receive income in the form of benefits or age pension, you’ll need to provide a Centrelink Income Statement, which you can download via your MyGov account. Some providers may also ask for a copy of your Medicare card.
You can repay your loan as quickly as sixteen days but get the option of extending terms to two years. You’re free to tailor repayments, so they match how you earn. That means you can choose to set weekly, monthly, or fortnightly intervals and even select the day of the week or month they’re due – so you’re far less likely to miss a payment too.
Savvy’s no credit check loan providers are 100% based online, and you can arrange everything over the web without ever needing to pick up the phone. That speeds applications up significantly. Lenders vary slightly, but some will get funds to you the same day. The remainder of loan providers don’t exactly hang around either, and most cash loans get set up within 48 hours. Lenders transfer funds to a bank account you nominate during your application, so things move fast.
Small loans to suit your circumstances
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Disclaimer:
The information on this website is of general nature and does not take into consideration your objectives, financial situation or needs.
For loans between $2,050 and $5,000, the APR is between 21.24% (minimum) and 48% (maximum) per annum. Comparison rate of 65.4962%. Minimum term is 16 days and maximum term is 24 months. The cost of the loan is a $400 establishment fee and monthly interest charged on the amount borrowed. For example, a loan of $3,000 over 3 months with an APR of 48%, (comparison rate of 65.4962%), will have an establishment fee of $400, monthly repayments of $1,225.20. Total repayments of $3,675.60 and total interest payment of $275.60.
Warning: A comparison rate indicates the true cost of a loan. Comparison rates are true only for the examples provided and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
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