Did you know that a cash loan from Fair Go Finance can actually help you build a good credit rating?

Not sure how? Then please read on.

First of all, let’s make sure your comfortable with what we mean by credit rating.

What is a credit rating?

In general terms, your credit rating is either good, OK or bad, depending on what your credit score is.

Your credit score is calculated by credit bureaus and takes into account what is listed on your credit report. Sound confusing? Don’t worry, it will come together shortly!

Your credit report contains lots of information about you such as your personal and employment details, what loans and debts you’ve had and currently have, and how good or bad you are at repaying your debts and bills on time.

Whenever you apply for a cash loan, mortgage, credit card or other debt facility, the lender will check your credit record to find out what your credit rating is currently like.

If your credit rating is bad, a lender will consider you a higher risk of not repaying and may not approve you. If your credit rating is good however, a lender will see this positively as it shows you’ve successfully conducted loans previously and therefore are a low risk.

You will always be more successful applying for loans if you have a good credit rating, as opposed to having a bad credit rating.

How can a Fair Go Finance cash loan help build my credit rating?

If you take out a cash loan with us, and make all your required payments on time, this will positively affect your credit rating. As mentioned above, as long as you conduct your loans as per your loan agreement, it shows you can be trusted with repaying a debt.

Be mindful though, if you take out a loan and are irregular with your payments or miss payments, this will work against you and damage your credit rating.

thumbs up cash loan

What if I have a bad credit rating and I need a loan?

If you know you have a bad credit rating, you will need to look for lenders who offer bad credit loans. At Fair Go Finance we understand there are life events such as loss of job and separation that can cause a bad credit rating, which is why we’re happy to offer bad credit loans for certain levels of bad credit.

So if you take out a Fair Go Finance bad credit loan, and honour all your payments, this will also help your credit rating to improve. But remember, your credit rating is based on everything listed on your credit report, so keep all your other loans and bills on time too.

So is there a key to keeping a good credit rating? 

In one answer, yes! By paying all your bills, loans and credit cards on time, this will contribute to keeping your good credit rating. If you’d like even more credit tips why not read our blog, 5 tips to improve your credit score.

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Are you eligible to apply?


It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:
For more information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.

Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan.
If you are on government benefits, ask if you can receive an advance from Centrelink.

The Australian Government’s MoneySmart Website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.