Do Online Loans Affect My Credit Score?

As someone who’s been constantly searching for bad credit quick loans, you’re most probably hoping to find a service with a streamlined and convenient application process. No worries – the good news is that there are a lot of excellent offers available, even those that serve as an alternative to small cash loans for bad credit holders. You just have to keep your eyes peeled and choose what’s best for you.

However, if you want something reliable but would like to skip the long and time-consuming process of finding the best instant cash loans Australia option for your specific needs, then look no further than us at Fundo! Here, we’re a committed money lender, and we always make it a point to understand your unique situation. 

On our platform, not only can you potentially end your search for bad credit quick cash loans, but you can also receive a wide range of exclusive advantages before, during, and after you apply. When you’re ready to get the ball rolling, don’t hesitate to get in touch with us today for a reasonable personal loan.

Do online loans affect my credit score? 

It’s important to note that taking out bad credit quick loans, or any type of loan for that matter, can potentially affect your credit score. It ultimately depends on how you use the funds given to you and how you manage your repayments.

If you secure a cash loan and make your payments on time, you can positively impact your credit score by demonstrating your ability to manage credit responsibly. In the long run, this can lead to a higher credit score.

In the same light, you can also negatively impact your current standing with bad credit quick loans or other similar offers if you’re not careful. For example, late payments and defaults are some of the actions that can lower your credit score. In the end, it’s crucial that you carefully consider whether or not you’ll be able to make timely payments on a loan before borrowing.

It’s also worth noting that applying for a cash advance, regardless of whether online or in person, can result in a ‘hard inquiry’ on your overall credit report. This type of inquiry may temporarily lower your credit score slightly, but the impact of a hard inquiry is typically minimal and should only be a factor if you are applying for multiple loans or credit products in a short period of time.

With this in mind, you can consider Fundo, as all offers are completely transparent. This means you can plan accordingly and take the necessary personal steps to influence your credit score. 

How do I maintain a good credit score?

There are plenty of factors that go into your credit score, but they all boil down to one aspect: responsible instant loan behaviour. To maintain a good credit score, you can try limiting your borrowing, paying off debts ASAP, and giving yourself enough leeway. 

• Limiting your borrowing. Don't open too many accounts for bad credit quick loans from different lenders. This will make your debt seem higher than it is, so perhaps you can choose just one lender, take out a loan, and focus on covering emergency expenses with the funds.
• Paying off debts ASAP. Make repayments as soon as possible to keep them from growing too large due to overdue fees. With us at Fundo, you can even pay in advance without any fees, and we’ll be sure to keep tabs on this positive practice. 
• Giving yourself enough leeway. Lastly, it can help if you follow a repayment schedule that works for your specific lifestyle. This could even be aligned with your work’s payment cycle for an easier time on your end.

What’s great about Fundo is that we’ll equip you with a self-service dashboard should you be eligible for our fast quick loans. With this tool, you can easily make or reschedule repayments, update your account, and much more! 

Where should I borrow money if I have bad credit? 

You might be tempted to get bad credit quick loans from the first lender you come across, but you should keep in mind that you need to understand the benefits as well as the terms and conditions before you make a final decision. As such, you can opt for our options at Fundo, as we have an excellent alternative to bad credit quick loans. 

Simply ensure that you meet the eligibility criteria before you can request a principal loan amount with repayment durations of up to 180 days.

To be eligible for our online loans, you have to be: 

• over 18 years of age;
• a citizen or resident taxpayer in Australia;
• earning an income of at least $500 per week, excluding government benefits;
• able to make deposits on the agreed-upon repayment deadlines; and
• financially stable, even after borrowing from us at Fundo.

If you’re someone who can meet all these points, you can finally end your search for bad credit quick loans and opt for our responsible lending options instead. 

If you join us, you can start leveraging our unique Fundo Credit Score system. You’ll earn points through positive lending behaviour and be more likely to get approved for future loans on our platform.

Need a teeny, tiny loan? Apply now! 

Disclaimer: Unless otherwise stated, the content on this website page should only be viewed for informational and entertainment purposes. The commentary found here could also be edited without explicit notice and should also not be taken as client-specific financial advice and recommendations. For professional support on such matters, it would be best to find and consult with an expert.