No Credit Check Loans Guaranteed Australia Centrelink

No Credit Check Loans Guaranteed Australia Centrelink

If you’re on a modest Centrelink income, getting a loan might not seem like the easiest option, especially with bad credit. Is possible to get a guaranteed loan without any credit check? Find out about your possibilities for a small loan when you’re unemployed with a low credit score.

If I'm on Centrelink, can I get guaranteed approval for a loan with no credit check?

No –regardless of Centrelink benefits, there’s no such thing as “guaranteed approval” for a loan application in Australia, nor can you avoid a credit check to get around a bad score. There are very lenient lenders out there, but none that are going to offer automatic approval with no questions asked. Credit checks are a key part of confirming someone’s details for a loan application, and no legitimate lender is going to skip that step.

There are still loan options out there even if you’re a Centrelink customer and don’t have the best credit, however. Many online lenders are willing to help customers in tough times, including those with lower credit scores, or who depend on Centrelink for support.

When you’re on the hunt for a small loan, Savvy can be a handy place to start. We can connect you one of our lenders and, for loans up to $5000, you can get instant approval within 60 seconds of clicking submit on your application.

Will being a Centrelink customer make it more difficult to get a loan?

It can narrow your options, but it doesn’t rule you out. Larger financial institutions like banks are less open to helping someone with a lower credit score, especially if they’re depending on government benefits, but smaller financial operators and online lenders are more willing to help. They’re more interested in the current state of your finances than your past credit history and accept more income types, such as Centrelink payments in some cases.

Savvy can quickly and easily connect you with lenders willing to work with your situation and budget. Being on Centrelink doesn’t mean you can’t get help when you need it.

Frequently asked questions about getting a loan on Centrelink benefits

Check out the answers to some of the most frequently asked questions below

What can I borrow money for if I'm on Centrelink?

Generally, whether you’re a Centrelink customer or not, instant cash loans are available for almost anything you could need them for – car repairs, bills, new whitegoods, a new TV, school fees, dentist bills, or even a holiday for the family. There are a few things that lenders don’t permit (no gambling, for example), but other than those few exclusions, it’s really up to you.

Are there any criteria I need to meet to be eligible for a small loan?

Generally speaking, there will be some basic criteria for any loan. You’ll need to be 18 or over, an Australian citizen or permanent resident, have earned an income for the last few months (many lenders will count Centrelink payments as part of this) and have a mobile or email so the lender can contact you.

Why is my credit rating bad?

There are various reasons your credit rating might have taken a hit recently. Having credit cards maxed out is a very common reason for bad credit – your credit rating tracks how much of your available credit you use. Missing repayments or bills is another.

Can I fix a bad credit rating?

Absolutely. Your credit rating rarely stays fixed – it fluctuates up and down depending on your credit and borrowing habits. If you spend a few years making sure your repayments and bills are paid on time, not overusing your credit cards and not applying for lots of loans or extra credit, you can rebuild your rating to a good level.

Is it possible for my credit report to have errors?

Yes. You’re allowed to get a report on your credit rating and history once every three months. If you see that there’s something incorrect on there (which does happen), you can apply to have it corrected.

What if someone offers me a no credit check loan?

No legitimate lender will offer a loan without running a credit check. That means that anyone offering a no credit check loan is probably not reputable. Although most small lenders in Australia are legitimate financial institutions, the Moneysmart website maintains a list of questionable lenders to steer clear of.

Can I get a fast cash loan in an emergency, even on Centrelink?

Yes. Instant cash loans from an online lender can be a very quick and easy way to source emergency funds. Savvy’s five-minute application process (available 24/7) can connect you to a lender who can give you pre-approval for a small loan within 60 seconds of applying and have money available within the same business day.

Top tips for maximising your chances of getting a small loan approved

Regardless of your income situation and credit rating, here’s some tips that will help you maximise your chances of getting your loan through.