Responsible Lending | Credit24

Responsible Lending

Established in 2006, Credit24 provides services to thousands of customers in Europe, South America and Australia. Our lending criteria and approval process supports our firm commitment to responsible lending both all markets.

How do we support responsible lending?

It’s simple. We will only offer you a loan for an acceptable purpose and for an amount that we believe you can afford to repay.

To do this, we will:

  • Confirm your identity
  • Review your credit file 
  • Assess your income and expenses to determine your capacity to repay the loan
  • Assess your willingness to repay the loan and ensure that we comply with legislated responsible lending obligations
  • Confirm that the information that you have provided is correct by reviewing your last 3 monthly bank statements which must cover at least the most recent 90 days
We may sometimes request further information from you, for example if you are self employed.

Additionally:

  • We will offer you the maximum amount you are approved for, but you can choose to accept a lower amount
  • We have flexible payment terms – you can pay out your loan earlier with no penalties
  • We are transparent, there are no hidden fees or charges, and our pricing model is simple and easy to understand
  • Our late fees are reasonable and in line with or smaller than of most other conventional lenders
  • Unlike some lenders, we do not have a vested interest in any collection companies
  • Nor do we make any additional income from our collection process, it’s simple – we only want you to pay back the amount you borrow.

Internal Disputes Resolution Process

We value your opinion, if you believe that we have not met our responsible lending obligations or think we can do things better, we want to hear about it. Please contact the Credit24 Customer Service Team to inform them of your complaint:

Credit24 Contact Details:
Phone: 1800 091 967 (Monday to Friday 8am – 10pm AEST
Email: info@credit24.com.au

Our Internal Disputes Resolution (IDR) Team will aim to resolve your complaints within 7 working days.

External Dispute Resolution

Furthermore, if you are not satisfied with our response, you can take your concerns to the Credit and Investment Ombudsman Limited (CIO) and they can independently review your complaint.

CIO Contact Details:
Phone: 1800 138 422
Fax: (02) 9273 8440
Please visit http://www.cio.org.au for more information

For additional information please refer to our credit guide. If you have any questions about our Responsible Lending Policy or the internal or external complaints resolution process, please do not hesitate to contact Credit24.