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Borrowing Explained

Are No Credit Check Loans with Instant Approval Real?

No. In New Zealand, there is no such thing as a truly instant loan with no credit checks. All responsible lenders are required to assess whether a loan is affordable, which includes checking your credit history. Having bad credit does not mean you can’t get a loan, but lenders that claim not to check credit often charge higher costs and can create more problems than they solve.

Why You Should Avoid Payday Lenders

Payday lenders offer fast access to small amounts of money, but this speed often comes at a very high cost. They are typically used by people with poor credit who need short-term funds to get through to their next payday.

These loans usually come with very high interest rates and short repayment periods. While they may seem helpful at first, the full cost of the loan is often much higher than expected.

When repayment day arrives, many borrowers find it difficult to pay the loan back in full. If the loan is extended, additional interest and fees can apply, making the total amount owed grow quickly.

Because of this, using a payday lender can make financial pressure worse over time rather than solving it. If you have bad credit, there are better options available that are designed to be more manageable and sustainable.

Can you get a loan from a reputable lender with bad credit?

Yes, it is possible to get a loan with bad credit. A poor credit score does not automatically mean your application will be declined, and you don’t need to hide your credit history when applying with a reputable lender.

Responsible lenders assess your overall financial situation, including income, expenses, and affordability, not just your credit score. While credit checks are still part of the process, having bad credit simply means the loan needs to be structured carefully to avoid creating further financial stress.

Loansmart arranges low-cost loans for people with bad credit by matching borrowers with lenders that offer fair terms and transparent costs.

You can also see real examples of how we’ve helped borrowers with poor credit scores when other lenders refused, such as our Loan of the Month case studies.

Getting on top of expenses

If you have bad credit and need a loan urgently, you’re probably having trouble keeping up with all your expenses. You might have other loans you’re trying to pay off while meeting daily living costs that seem to keep going up! This can be a really tricky situation, and you’re not alone. Consider a debt consolidation loan to help you get on top of existing debt. Loansmart helps people take control over their finances by combining their debts into one easy-to-manage loan. See how we’ve helped people like the King Family this way.

Getting a loan quickly

When you need money in a hurry, the last thing you want is to spend hours filling out long application forms. With Loansmart, our online process takes just 3 minutes.

Just provide us your details and we’ll get in touch to discuss the best options for you.

Most people get loans approved through Loansmart within 1-2 hours, so you won’t be left waiting ages for a solution.

Choosing the right lender

When you’re in a cycle of debt you’re struggling to get out of, choosing the wrong lender can make matters worse.

You want someone who can help you improve your finances in the long run, while also helping you meet your urgent money needs.

Loansmart is different from other loan companies – we genuinely try to help people take control of their finances by providing fair and affordable loans that put their financial well-being first.

As a member of the Financial Services Federation, Loansmart is committed to responsible lending practices. We take a skilled, caring and diligent approach to support our clients through difficult times. Check out 3 Smart Reasons To Choose Loansmart.