Frequently Asked Questions
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Unfortunately, we cannot offer you a loan if you are unemployed.
The interest rate on your loan depends on your credit history and your financial situation and this can range from 24% to 48% per annum.
There are no fees for applying or using your Line of Credit. Having the account open doesn’t cost you anything. You can withdraw more money or pay back your balance at any time without any fees. You’ll only pay the interest (24% – 48% per annum) on the money you have withdrawn down from your Line of Credit.
The main benefits of a Line of Credit are accessibility and flexibility. The funds can be withdrawn very easily and can be used for whatever purpose you need it to serve. You can also make extra repayments on your account at any time, which can save you in interest. Also, there are no fees for having the account open.
A Line of Credit is a flexible loan. When you apply, you will be given an account limit, which you can choose to use all in one go or as little as you need. You’ll only pay interest for the balance you’ve withdrawn. You can withdraw more money from your available balance at any time without having to fill in another application. Log in here to see your available balance or make a withdraw.
If you are using any part of a Credit24 loan to pay off existing loan(s)/debts (including combining these into a single loan), it is important to read the Debt Consolidation Considerations section in our Credit Guide.
Alternatively, you can speak to our team who will be happy to explore your options:
Phone: 1800 091 967
Personal Line of Credit $500 to $10,000
For Small Loans $2,000 or under
For Medium Loans $2,001 to $5,000
For Personal Loans $5,001 to $10,000
We are required by law to review your bank statement covering the last 90 days of your transaction history. This can be done using Illion Bank Statements via a secure page in our application form. Illion is a 100% Australian owned and operated company subject to and compliant with all Australian laws and is trusted by many banks and financial institutions. Click here to find out more.
Unfortunately, we do not accept PDF statements.
You can cancel your application anytime prior to the funds being transferred. If you want to cancel your Credit24 loan application, please call us on: 1800 091 967 or email us at email@example.com.
After submitting your loan application and if your loan is approved, money is generally paid within the next 24 hours. For loans are approved before 3pm during weekday business hours, you could receive the funds in as little as an hour depending on the financial institution you bank with. Loans approved after this time should transfer the next working day. NB: If you bank with either ANZ, Westpac, Commonwealth or NAB, payments will be processed within a few hours. Other banks may take up to the next business day.
You can submit your loan application outside business hours. However, your loan application will be processed from 8am – 8pm weekdays, and 9am-5pm on weekends (AEST).
Our application process requires your residential address for identification purposes, A PO Box will not be accepted. We prefer to communicate with you by phone, SMS and email.
Yes, Credit24 conducts a credit check on all applications and it will show as an enquiry on your credit file. If you think you might have unpaid defaults that would stop your application from being successful, you can obtain a free copy of your file from www.mycreditfile.com.au.
Yes, however only if you have been self-employed for more than 12 months. We may also ask you for your latest Notice of Assessment (NOA) to validate your previous years’ annual income.
Your Centrelink payments are classed as part of your income. To be considered for a Credit24 loan, it cannot be more than 50% of your total income, along with other factors in your loan application.
For Example: If your Centrelink payments are $1,000 per month and your salary is $700 per month you are not eligible for a Credit24 loan. However, if your Centrelink payments are $500 per month and salary $1,000 per month – you are eligible to apply for a Credit24 loan.
Credit24 offers an exemption for pensioners aged 60 and above who are eligible to apply even with Centrelink being their only source of income.
Unfortunately, we cannot offer you a loan if you are under 60 years old and your sole income is Centrelink.
Credit24 offers Personal Loans or a Line of Credit up to $10,000. If you are a Permanent Resident aged 18 or over, you are welcome to apply.
The information you give during your application will be assessed and you will be given an instant decision on how much is available to you. If you do not want to take the full amount, you can choose a smaller loan amount. And, if you find the lower amount isn’t enough let us know and we can check if the larger amount is still available to you.
Applying for a Credit24 a loan is convenient and easy. We are online 24 hours a day, 7 days a week. Enjoy the freedom to choose when and where you apply online.
You can select how much you want to borrow and for how long then see exactly what your monthly repayments will be using our repayment calculator. There are no hidden charges.
Once you are happy with your amount choice, click Apply Now and you will be directed to the remainder of the application. You will receive a decision once the application is complete. If your application is conditionally approved, we may be in touch to get some more details from you.
During your application, we will ask you for a copy of your last three months of bank statements that you can easily send securely using Illion. Once we have all of your information, we can give you a decision on your application. In most cases we have everything we need once you have submitted your application, however if we need to check anything, we will call you on your mobile, so make sure you keep it handy!
Once everything is received, it is possible for your loan to be processed within an hour and paid to your account the same day.
To be eligible for a Credit24 loan you must:
To complete the application process, you will need to provide us with the following additional information:
From time to time we may offer you a ‘top-up’. If you’re eligible, we’ll send you an invitation via SMS, email or through your Self-Service.
To increase your eligibility, ensure that you make your loan repayments on time and that you have a good payment history with your other service providers.
If you notice that a payment was missed or you know that there isn’t enough funds in your bank account for your next payment, please get in touch with our contact centre. Our team can help you avoid any late fees. You can call us on 1800 091 967 so we can help you get sorted. Late payments can incur a $10/week late fee.
Once you’ve paid out your loan with Credit24, you can cancel anytime. We won’t charge you any fees for closing your loan early. All you need to do is pay it off and have no money owing.
If you have a Line of Credit, it’s free of charge to leave open and no interest is charged. It can be a safety net for when you need money quickly. You only pay interest for what you borrow.
Yes, you only get charged interest on the outstanding balance so if you pay out early, interest is charged until the day you bring the balance to zero.
Any extra repayments will also help reduce the interest. All additional or extra repayments are applied to the principal which saves you interest. Your regular repayments will continue as normal until the balance is paid down. No penalties or fees will be applied for an early payment.
Yes, you can pay your account in full at any time without any fees or penalties. All you need to do is to log into your self service and go to the credit information section and you’ll be able to see the full repayment amount. Keep in mind that it changes daily due to interest. Your Line of Credit will remain active at no charge for when you need to withdraw in the future.
Your repayments are calculated during your draw request. Anytime you withdraw from your limit, the repayment will change to reflect your new repayment amount. This is displayed in your self-service. You can request how much you would like to draw and pay back, putting you in control of how much you repay.
Login to self service and at the bottom of your dashboard page you’ll see the option to ‘Repay Faster’, that has the bank information as well as your personal reference number to make additional payments. Please make sure that you use your reference number to ensure that your payment gets allocated correctly. Any additional payments are applied to your balance, your regular repayments continue to be debited as per normal.
Your minimum repayment amount is calculated based on the amount you have withdrawn from your available balance. This is automatically spread over 36 months. Sometimes the repayable amount over 36 months is less than $10, if this is the case for you, your repayment amount will be $10. This means you will pay off the balance quicker, saving you interest.
By default, your repayments are spread over a maximum of 36 months. Each new draw will recalculate over a 36 month period and your repayment amount will change to reflect this.
The minimum withdraw amount is $50, and the maximum amount is your available credit limit.
If you have forgotten your password or you’d like to reset your password, you can do so from the reset password link here.
Repayment dates can only be amended if:
Late payment fees apply. To prevent this, please email us all the details to firstname.lastname@example.org or call us on 1800 091 967 so we can discuss your options and arrange to suit your needs.
If you are finding it difficult to make repayments due to unforeseen circumstances including unemployment, illness, over commitment to credit, natural disaster, etc. You can apply for hardship assistance by filling out our hardship application form. Our Hardship Team will assist your needs after reviewing your hardship application and proof documents.
If you have any issues with your payment plan not matching your salary dates, please contact us via email at email@example.com and confirm:
We can amend your repayment contract to match these details. Please note:
It takes 48 hours for your repayment status to be updated on your Credit24 account. If your repayment has not been updated more than two business days after your payment, contact our customer service team by email firstname.lastname@example.org or call us on 1800 091 967.
Login to your self service and on the right hand side click on the statement of accounts here you can see all your statements. You can see your balance by clicking on the credit information button on the right hand side above the statement.
Please be advised that in accordance with the terms of the loan contract a loan account may be assigned by Credit24 to Australian Credit Licensee Panthera Finance Pty Ltd (Australian Credit Licence: 400699).
Our friendly customer service team is available Monday to Friday, 8am to 8pm (AEST) and on weekends, 9am to 5pm. Please contact us on:
If you wish to finalise your Credit24 loan, please contact our Customer Care team on 1800 091 967 or alternatively email us at email@example.com.
Yes. As we believe in being transparent, all our policies are available on our website and can be accessed here.
You can opt out of our marketing communications at any stage, simply select the “unsubscribe” option at the bottom of a Credit24 email or SMS, and we will remove you from special offers or announcement emails.
If you think you have received something that looks suspicious, please call us on 1800 091 967. Remember, we will never ask you to log into your account directly from an email, always type www.credit24.com.au into your browser.
Credit24 customers may have only one active loan at any given time. As soon as your existing Credit24 loan is paid out, you are eligible to re-apply on the Credit24 website using the login section.
You have the option to pay out your loan early with no early repayment penalty or charges. Once the funds are received, you are eligible to apply for another Credit24 loan straight away.
If you wish to finalise you Credit24 loan, please contact our customer service team on 1800 091 967 or email us at firstname.lastname@example.org.