Good Reviews Even with Bad Credit!
Personal Loans for Customers with Credit Concerns
Money3 specialises in giving people a fair go!
Whatever your credit needs1, Money3 has flexible loans to suit your credit history.
Get started by selecting the type of loan you are looking for. We have personal loans up to $30,000 for many purposes such as Car Repairs, Emergencies, Medical Expenses or even Special Occasions. Next, we'll need your contact and employment details to get your application started.
Your application will then be reviewed and providing the loan is suitable and affordable for you, it could then be approved.
1. Subject to verification, suitability and affordability
Check you meet our basic criteria
Over 18 Years Old
You must be aged over 18 years old to qualify
Income over $480
You must take home at least $480 from earnings or Centrelink benefit payments or both.
Australian Resident
You must be an Australian resident or citizen in order to qualify for a loan with us.
How it Works - Whatever Your Credit!
Applying for a bad credit loan with Money3 is simple and straightforward.
Your application is assessed based on your current financial situation, including your income, expenses and ability to manage the repayments.
We'll give you a fair go!
- 01.Start your online application
Complete the application form with the loan amount you would like to apply for, your personal details, income, employment or benefit details then your expenses information. This usually only takes a few minutes if you have your details ready.
- 02.Provide your 90 days of bank statements
As part of your application, you will need to provide access to your recent 90 days bank statements. This helps Money3 review your income, regular expenses, existing commitments and whether the loan repayments may be affordable for you.
- 03.Your application is assessed
Money3 reviews the information you provide, along with your current financial position. Bad credit in the past does not automatically mean you will be declined, but we still need to make sure the loan is suitable for your circumstances. Assessment times can vary depending on your application and whether any extra information is needed.
- 04.Receive an outcome
Once the assessment is complete, you will recieve the result. If approved, you will receive the loan offer and repayment details so you can review them before deciding whether to accept. In many cases, this can happen quickly once the application is complete.
- 05.Review and sign your loan offer
If your application is approved and you choose to go ahead, you will need to review and sign the loan agreement. Take the time to check the repayment amount, repayment schedule, fees and loan terms before accepting.
- 06.Your loan is funded
Once your loan documents are signed and final checks are complete, your funds are sent to your nominated bank account, usually within 24 hours. The time it takes to appear may depend on your bank.
Centrelink? Low Credit Score? Refused Elsewhere?
Getting your loan approved1 with Money3, may be easier than you think. Money3 will give you a fair go - with bad credit in the past or even when receiving benefits1. As long as you meet our basic criteria, and we are happy that the loan is suitable and affordable for you, then we will work with you to get your loans approved as soon as possible - whatever your credit history!
We will consider your loan application1, even if:
- You are receiving disability or parenting pension payments
- You have been refused credit elsewhere
- You have retired and are on a pension
- You don't have a good credit history
- You are receiving Centrelink benefits*/ income1
Concerned whether you could qualify? Just complete the short Let's Get Started form above; We could help1 with bad credit loans or when receiving government benefits*.
Want to learn more on how to improve your chances with tips on loan approval with poor credit.
1. Subject to verification, suitability and affordability
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
We'll Give You a Go!
We'd like to see your loan approved soon as possible - whatever your credit history.
Even if you’ve had bad credit in the past, you may still qualify1 for a Money3 personal loan.
As long as your total income from earnings and benefits is $2,0801 a month or more, and you are an Australian resident, your application can still be considered.
Money3 considers applications from people with previous credit problems and looks at each application individually.
You Must:
- Be Over 18 Years Old
- Take Home Pay (with benefits) over $480 a Week1
- Be an Australian Resident
- Get Your Earnings Paid into Your Account
Get started by completing the short form above. Tell us a little about yourself, your financial situation and outgoing expenses, then send us your bank statements digitally, as part of the process. Applying online should only take around 5 minutes to complete.
We'll give you a fair go - despite any bad credit problems in the past1.
1. Subject to verification, suitability and affordability
Example Loan Costs Chart
| Borrow | Costs | Repay |
|---|---|---|
| $5,000 | $2,076.61 | $7,076.61 |
| 24 months at 15.95% APR & 35.86% Comparison Rate | ||
| $7,500 | $4,938.31 | $12,438.31 |
| 36 months at 15.95% APR & 36.46% Comparison Rate | ||
| $10,000 | $6,109.29 | $16,109.29 |
| 36 months at 15.95% APR & 34.14% Comparison Rate | ||
EXAMPLE: A platinum unsecured personal loan of $5,000 for 24 months has fees and charges totalling $2,076.61 and a total repayment of $7,076.61. The Minimum loan term is 12 months and the Maximum term 24 months. The term will be 24 months if you repay monthly, 52 fortnights or 104 weeks. The Maximum APR is 15.95%. The Comparison Rate, based on a loan of $5,000 over two years, is 35.86%.
EXAMPLE: A platinum secured personal loan of $25,000 for 60 months has fees and charges totalling $14,159.90 and a total repayment of $39,159.90. The Minimum loan term is 24 months and the Maximum term 60 months. The term will be 60 months if you repay monthly, 130 fortnights or 260 weeks. The Maximum APR is 12.95%. The Comparison Rate, based on a loan of $25,000 over five years, is 19.30%.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
Please Note: Advertised costs and repayments have been rounded up to the nearest dollar amount, so costs may be slightly cheaper in most cases. Australian Credit Licence 389067.
Credit Concern FAQs
Simply put, it is a personal loan to cater for people who have a bad credit rating or a bad credit history.
If you have had bad credit, your chances of getting approved may be higher when applying with a lender who specialises in customers with bad credit than with mainstream lenders.
Due to the potential increased risks to the lender, the interest rate of the loan may also be higher to the borrower. However, the lender will often be more experienced and flexible if the borrower encounters difficulty making repayments during the term of the loan.
Yes, Money3 offers personal loans for people with bad credit in the past1.
We believe in responsible lending. As long as the loan is affordable and suitable for you, we'll give your application a fair go - even if you have been refused credit by other lenders.
Yes, it is possible1. Even if you have a history of poor credit, you could still qualify for car finance with bad credit with money3. We'll review your current finances and your needs and affordability when reviewing your application and not rely only on your credit history.
Our car loans go up to $75,000 and depending on the amount borrowed, the loan term will generally be between 2 and 7 years.
We'll give you a fair go!
Everyone is different, but the application generally takes between 5 and 10 minutes to complete online. We need to take a record of your contact details, employment, money coming in and expenses and then for you to submit a digital copy of your bank statements via our secure partner, illion. No paper docs need to be sent to us (in most cases) as the loan application is 100% online.
Yes it could1. If you have bad credit recorded, you could build up a good payment history with us that can be used to either get a better loan with us or with another credit provider.
Yes, but not all applications get the check performed. We only view your credit file after our initial review, if we believe the application has a chance of being successful.
Any previous unpaid defaults are taken into account when assessing your application.
Yes, you can1, depending on the affordability of the new loan and that you have the capacity to service both of your loans. If you are currently easily repaying your existing loan, then you may have the capacity to handle a new loan with us.
No sorry, Money3 does not offer payday loans(SACCs).
See our quick cash loans page for details on our personal loans with loan amounts from $2,000 up to $30,000.
Sorry, if you are currently bankrupt, our personal loans are unsuitable, and we are unable to help you.
Yes, you can. Money3 is not affiliated with, or endorsed by, Services Australia. However, we do offer loans to customers receiving benefits from Services Australia. See our Loans on Centrelink* page for more details.
1. Subject to verification, suitability and affordability
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
Credit Concerns? More Loan Options to Check Out
Fast Personal Loans
Apply online in around 5 minutes, with a quick approval decision - we will give you a fair go - any credit considered and affordable repayment terms to suit your needs.
Cash Loans
Money3 offers cash loans up to $30,000 for a wide variety of loan purposes - we'll give you a fair go!
Centrelink Friendly Loans*
You could borrow up to $12,000 with Money3, as your benefit payments are included!
Single Parent Loans
As a single parent, Money3 will consider your application as long as your money coming in, either from earnings or benefits is $2,080 a month or more.
Bad Credit Car Loans
Check out our car loans, up to $75,000 with bad credit considered - We'll give you a fair go!
Car Finance on Centrelink *
Your benefit payments are looked at as part of your finances in calculating the affordability of your loan up to $12,000.
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
