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What Is a Cash Loan for Bad Credit?

A bad credit cash loan is a type of cash loan that is specifically designed for people with bad credit histories. At WeLoans, we have a trusted array of lenders who work hard to provide cash loans for bad credit and help you avoid never-ending cycles of rejection and loan application barriers.

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What Is Considered a Bad Credit Score in Australia?

In Australia, a bad credit score is considered to be anything less than 500 on the Equifax credit score, 550 on the Experian score and 300 on the Illion score. People may get a bad credit history due to circumstances such as missed payments or loan defaults.

Why Borrow Cash Loans for Bad Credit on WeLoans?

Our cash loans for bad credit are designed to support you no matter what financial difficulty you are facing.

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    24/7 availability

    At WeLoans, we work around the clock with our lenders to provide fast cash loans for bad credit to put your finances back on track.

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    Trusted bad credit lenders

    You won't find predatory lenders on WeLoans. Every lender in our network is honest and responsible.

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    Speedy application process

    It takes only a few minutes to complete your application, and a few hours to get a lender's decision.

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    Totally free services

    Our assistance to help you find suitable loan offers is available to anyone and won't cost you a cent.

Steps to Apply for Bad Credit Loans on WeLoans

It's easy to apply for an online loan with the help of WeLoans even if you have bad credit. Follow these steps to find loan offers and access your cash in no time.

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3. Choose your loan offer

Compare the bad credit cash loan offers based on amount, length of time and fees. Just take your time and find the one loan that satisfies your requirements.

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1. Fill in our application form

Tell us a bit more about you. We'll need some basic personal information about your financial situation and how much cash you need.

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4. Sign a contract with your lender

Confirm the terms and conditions of the agreement to the loan for bad credit with your lender. Sign the contract when terms and conditions are agreed.

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2. Wait for our lenders' decisions

Wait until our lenders approve your application. They will respond promptly with their bad credit loans offers, and we'll send them to you quickly.

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5. Receive your loan fund

Your lender will transfer your cash to you right away. You can then securely access your quick cash loan for bad credit from your nominated bank account.

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How Can I Qualify for Cash Loans for Bad Credit on WeLoans?

Qualifying for bad credit loans from our partner lenders is easy and straightforward, so you can get your money quickly. Here are the general requirements you need to meet:

  • You must be 18 or older.
  • You must be an Australian citizen or permanent resident.
  • You must currently be in employment or have a stable income.
  • You must have a working phone number or email address so the lender can contact you.

How Much Can I Get with Bad Credit Cash Loans?

Our lenders for bad credit loans provide cash loans between $200 and $2,000. It is important you tell us exactly how much you need in the application so that we can tailor the best bad credit cash loans to your needs.

Sometimes low credit scores make it difficult to access larger amounts, so we can help you find the best available cash loans for bad credit from our trusted lenders.

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Can I Expect Same Day Approval on WeLoans?

Yes. Unlike traditional banks, our partner lenders understand no one wants to sit around waiting for an answer on their loan application. Our lenders can process your bad credit loan request instantly.

After you have submitted your application, you will receive a decision from your relevant lender within a few hours.

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  1. 1. Why do I have a bad credit score?

    Common reasons for why you may have a bad credit score include:

    • Missing a credit payment or paying less than required

    • Defaulting on a previous loan

    • Filing for bankruptcy

  2. 2. Are cash loans for bad credit suitable for me?

    You need to make sure the bad credit cash loans are right for you before you apply for it. Consider the following factors for your suitability:

    • Eligibility Do I meet the qualifying requirements?

    • Loan terms and rates Can I repay the loan on time?

    • Alternatives Is a bad credit loan the best option for me?

  3. 3. Will your lenders perform credit checks on me?

    Most of our partner lenders will review your credit history, but many of them won't perform a hard credit check. Nor will they reject your request just because you have a bad credit score. When making a decision, our lenders will look at other factors like your employment and income status.

  4. 4. Can I get bad credit loans with fast approval on WeLoans?

    Yes, most of the bad credit cash loan lenders are happy to help you get quick cash when you need it most. Our lenders will generally grant approval within 24 hours of your application (if they think you're eligible).

  5. 5. What are the usual interest rates of your bad credit loans?

    The rates vary depending on which of our lenders you choose to borrow from. They will carefully select interest rates to provide not only bad credit loans but also tailored small loans to your circumstances so you can easily steady your finances.

  6. 6. How can I fix my bad credit score?

    A bad credit score can't be fixed overnight. But there are few things you can do to improve your score over time. They include:

    • Carefully manage your budget.

    • Pay your bills on time.

    • Check for errors in your credit report and fix any mistakes.

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Written by
Jonathan JacksonExpert Financial Writer

Updated on: Mar 29, 2023

Apply Now and Find a Bad Credit Loan Today!

Apply for free today on WeLoans and receive your tailored selection of same-day bad credit loan offers from our trusted lenders.

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