Need a small personal loan? Have bad credit?
Savvy helps people with bad credit get approved.
Bad credit cash loans
If you’ve had bad credit in the past and have been working hard to correct your financial situation, we can still come up short in emergencies. Savvy helps people with bad credit find a personal loan that suits their needs to help them through tough times. We can help you approved for small personal loans that suit your budget ranging from $500 up to $25,000. Our friendly consultants help you through the process so you get what you need – fast. Once approved, you can have your funds to you within 24 hours.
Get approved with Savvy
Sometimes bills crop up that we don’t expect – an at-fault car accident may require you to pay an excess; you may need to fix a broken appliance; your computer which you rely on for work may need repair or replacement; you need emergency medical treatment; or perhaps a larger than expected utility bill comes in. Some cases we may need to travel immediately to visit sick or in-distress loved ones. No matter the reason, Savvy works with you to find instant cash loans for people with bad credit with reasonable repayment schedules and interest rates.
The bad credit cash loan specialist
Savvy have helped thousands with bad credit achieve small loan approval
How to get approved for a bad credit cash loan
Follow these simple steps to boost your chances of approval.
To progress to an application, we require you to be an Australian citizen/permanent resident, over the age of 18, have received income within 90 days, and have an active email address or mobile phone number.
Your bad credit cash loan questions answered
Want to know more? We answer your bad credit cash loan questions
Explaining bad credit cash loans
Need help with bad credit cash loans? Read our informative guides
Pitfalls to avoid with bad credit loans
Bad credit cash loans are a particular type of credit – similar to personal loans but not quite the same. However there are some things to avoid when considering a bad credit cash loan. You should be cautious when applying for a loan – it isn’t a loan for “just because,” it should be for emergencies. That’s because repayments can prove higher than usual personal loans due to shorter terms usually from a few weeks up to a year. You should use a personal loan repayments calculator to figure out how much you will owe. Fees can also be higher due to the nature of the loan.
Do you have bad credit? How to check
A lot of us confuse poor finances with bad credit – if you can’t afford emergency purchases in a lump sum, it doesn’t necessarily mean you have bad credit. Bad credit shows up as defaults, debt agreements, or bankruptcies on your credit file. However excessive credit applications without approval can also make your credit history appear “bad” to some lenders. The best approach is to obtain your credit history to see where you’re at. You can also talk to a broker who can approach multiple lenders on your behalf – you’ll be surprised what kind of loans they can find.
Why paying via credit card can cause more trouble
Many of us have credit cards – about 16 million of us according to current statistics. However, the temptation to put on emergency bills or urgent purchases on the credit card is high. If you already have one, you don’t have to apply for a credit card like you do a loan. However credit card interest rates are high (sometimes as much as 24% p.a.) and indefinite; you can pay off a credit card in as long time frame as your minimum payments allow. A loan has a “cap” on interest charges, as you must pay back the balance within a given timeframe.
Why are bad credit interest rates the way they are?
In banking and finance, every decision by lenders is based on risk. How much risk can a lender take on by lending to someone with bad credit? Bad credit is a track record of not paying back on time or in full. That means the risk to the lender is higher. To absorb the risk of lending to someone with bad credit, they increase interest rates. This is not to “punish” bad credit borrowers, but to cover the cost of default. The upshot to paying back loans over time is that your credit will eventually improve..