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Cash Advance FAQs

Cash advances are a quick and easy way to get a financial boost while you’re waiting for your next pay cheque. But are they the right choice for you?

What is a cash advance?

A cash advance is a short term loan that is designed to solve your cash flow problems until payday. It can either be borrowed from a financial institution or withdrawn from an ATM using your credit card.

What is a cash advance for?

Perhaps bills are piling up, you’re facing an unforeseen expense or you just overspent a little this month. If you need some cash to tie you over until your next payday, a cash advance is ideal.

Am I eligible for a cash advance?

If you are an Australian citizen or resident, aged over 18, and have a job and a checking account, you are eligible to apply.

Can I apply if I have a bad credit rating?

Yes, you could still be eligible even if you have a bad credit rating.

Is the loan secured?

There are two different types of cash advances: secured (which will use collateral like your home or car) and unsecured (which don’t require collateral). Unsecured loans are harder to get if you have a bad credit rating.

What are the risks?

Interest rates on cash advances are high, so they should only be used as a short term solution. If you fail to pay back the loan on time, you could face fees and higher interest rates.

How long does it take to get a cash advance?

Your loan is usually processed by the next working day.

Can I apply online?

Yes, applying online is the easiest and quickest way of getting a cash advance.

  1. Graham Kalms08-12-2010 11:59:37

    I have a problem with veda advantage as they refuse overturn their decision and they don't owe to me and i don't owe them so how can I borrow without Veda advantage approve so I do need to find $8,000 very urgently and I have less than1 week left to find.

  2. AusomeFinance30-11-2010 17:20:39

    Hi Rhonda, if you are a homeowner you shouldn't have any problem getting a loan for $4000. It is generally harder to get an unsecured loan once you are retired - but because you have a regular pension you may be eligible. Call into your bank for free advice.

  3. rhonda.boodle27-11-2010 12:15:29

    iam righting to ask if there is a loan place i can go because i need 4000 to pay my bills off. so i can just have one bill to pay each month.i dont work anymore i have retried. and i am on a pension and i get 500 a fortnite. iam fineing it very hard ti get by. thank u for your time rhonda

  4. Joanne Cunningham19-11-2010 16:25:20

    That's great advice, thanks!

  5. Natasha Ollenburg18-11-2010 11:16:19

    i think this site is awesome, especially trying to help out people in hardships, whom have bad credit history or whom have no credit history at all. hopefully I will be lucky enough to get approved for a loan during my hard time...time will tell if these sites are what they say they are!

  6. Sarah11-11-2010 12:39:23

    I'm in a similar situation Jodie. I managed to get a 2000 loan but it has helped a lot. Make an appontment to talk to your bank. Good luck!

  7. jodie09-11-2010 14:44:22

    hi im bankrupt for second time have 2 causal cleaning jobs one iv held for 12 month second job i started 2 months ago i work 5 days wk at this job 25hrs.other job gives me anywere from 12 to 40 hours awk im a single mother of three children paying 250wk rent had a run of bad luck car stolen and burnt out. 8 days later house was broken into while we were sleeping. bank account has been emptied by a so called friend im struggling now need $4000 loan to retreve our things from pawn brooker catch rent up pay tele check before im charged with froud and to pay for xmas

  8. Penny09-11-2010 10:16:48

    I totally agree with these tips! I use them all the time

  9. Payday Loan26-10-2010 19:02:07

    I really like this blog, it gives interesting ideas for the reader. Keep it up!

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