Line of credit

A line of credit is like a credit card, but it’s cash. You apply for a pre-approved cash limit, and once approved you have access to cash right up to that limit. A line of credit can provide a more manageable repayment plan too, because unlike a credit card, our line of credit’s minimum repayment amount never changes, so it’s a lot easier to budget for.

If you’re 18 years old, a permanent Australian resident and in regular paid employment, you can apply online for a line of credit facility right now. The limits range from $500 up to $3,000. The best part is that you can keep repaying and reusing the limit, with no need to reapply.

Once you receive approval, you can access your line of credit for:

• Unexpected bills and expenses
• Small and larger purchases
• Ad-hoc or emergency costs
• Deposits or bonds
• Travel or spending money
• Any other personal need you may have

And because our line of credit offers you access to an ongoing limit, you can access it anytime you want through our customer portal. You can be confident knowing you can get quick financial assistance anytime.

Our line of credit interest rates start at an incredibly competitive 14.90% p.a. and go up to 34.90% p.a..

Our personalised rates mean good credit customers are rewarded, while those with lower credit scores can get access to fair-priced loans while they repair their credit profile.

1. A one-time establishment fee when the line of credit is first set up. This ranges from 3% to 8% of the approved line of credit limit.
2. A monthly fee – only applicable when the limit is being used. This is between $5 to $15 per month, depending on your credit score.

Mates Rates is our loyalty program which offers you great rewards on all future loans, as a thank you for coming back to us. Find out more on our existing customers page.

Absolutely. Applying for a line of credit limit with us is completely online and very fast.

Our 100% online process uses illion Open Data Solutions to securely access your recent bank statements in seconds. Our tech smarts then use this securely provided information along with the details on your application form to ensure you experience the fastest loan processing time possible.

1. Apply online in less than 6 minutes. Our clever online application form is quick and easy to complete – apply from anywhere in Australia, anytime day or night.
2. A little human touch may come into play. If your application isn’t given an immediate outcome, a friendly credit consultant will be in touch to confirm what they need clarified, or if there’s a different amount or product they can offer you.
3. Get approved: If you’re offered a loan and you’d like to proceed, simply accept by electronically signing in the contract using an SMS code sent to your mobile phone.
4. Receive your funds within minutes: We use Real-Time Funding to instantly transfer the funds to your account.

Start your online application and see for yourself. And remember, if you run into any problems with our online application or have any questions about the approval process for our personal loans, we’re here to help. Call our team on 1300 324 746 or contact us online via live chat.

A line of credit isn’t better or worse than a loan, it just depends on your needs. If you find yourself getting back-to-back personal loans, a line of credit may be a better idea as you can continue to access the funds without needing to apply again and again.

Yes, it’s like a credit card. Use it to pay off household bills, cover new car tyres or whatever you need.

Technically yes, you can use a line of credit to make repayments on a car. However, it may get complicated and confusing quite quickly. Why not check out our car loan instead? Our car loans are designed to be hassle-free and flexible.