8:00AM to 5:30PM Weekdays
They made everything so easy. I had a person with empathy for my situation. Bloody good job all round.”

- Jeremy
We Make It Easy
Rates From 9.95%
We Say Yes More Often

We say yes more often

Bad Credit Loans

Had a loan application declined? Is your credit history less than perfect? We may be able to help you with a Bad Credit Loan right now. We’ve encountered every type of lending situation before, and can provide affordable loan solutions to most of them.

Loansmart can arrange Second Chance Loans, as well as Bad Credit Car Loans and Bad Credit Debt Consolidation Loans. Our online loans team work hard to find solutions with:

  • Faster approvals
  • Lower interest rates (we are not a high cost lender)
  • More finance options for more chances of success
  • Affordable, fixed repayments on loan terms of up to 7 years

What’s more, our online application process is easy – It only takes 3 minutes!


We are interested in your story

Our team gets to know you. We’re interested in your story and what’s changed for you.

  • We take time to find out why you have a poor credit score
  • We learn how your current situation has improved
  • We do everything we can to help you get a loan with affordable monthly repayments


Did you know that every time you apply for a loan, a credit check is completed? Details of those checks are kept on your credit history. Having lots of recent credit checks can negatively impact your score, as too can ‘declines’. Be sure to apply with a company that provides more options and has a more inclusive lending criteria, to increase your chances of success. That’s us!

Get a second chance loan

If you can show how you’ve improved your situation, or have a reasonable explanation for any defaults with your credit, we may still be able to get you the cash you need.

Many people have a poor credit history, but with a second chance and the proper loan structure, they can improve it. The first step is to ensure your repayments are affordable and that you’re not paying more than you need to in loan costs. Bad Credit Debt Consolidation Loans can be a great way to save on fees and interest. If you already have other loans, call us to see how much you could save.

All loans arranged by Loansmart need to be responsible. We try to give our clients the most affordable payment options to give our customers breathing room, and not place them under more pressure. We strive to set you up for repayment success, not failure.

Bad Credit Loan FAQs

A credit score is a personal rating given to you, to show how good you are with money. It impacts your chances of receiving a loan, and how much interest you pay for that loan.

In New Zealand a credit score is a number between 0 and 1000 that indicates how credit-worthy you are. The higher the score, the better your credit rating. Anything above 500 is considered ‘good’. According to Canstar, most people have a credit score between 650 – 768 (above average).

800 – 999 (excellent)
Scores in this range are highly coveted. If you fall within this range, congratulations! Reaching this level takes time and consistent good behaviour. It means you’ve built up a strong credit history over time by always paying your bills when they’re due. It also means you haven’t defaulted on any loans.

700 – 799 (very good)
A score above 700 is also one to be pleased with. It too means you’ve built up a good credit history overtime. Perhaps you don’t have as long of a strong credit history, but it’s good nonetheless! Most people fit in this range and in the range below.

500 – 699 (average)
An average score is a healthy score and in most cases means you haven’t defaulted on any loans or been declared bankrupt. Continue to pay your bills when they’re due, and make sure you don’t apply for credit too many times as that can impact your score.

300 and 499 (fair)
If you fit in this range, you could be too young to have built up a credit score, have failed to pay bills on time, defaulted on loans or been declared bankrupt. Check the tips below on how to improve your credit score.

You need to think carefully about who you apply for credit with, as more declines will further negatively impact your score.

0 – 299 (low)
Unfortunately you are in the riskiest group to lend too. If you’re in this group you probably have a fair idea as to why. It could be that you’ve been consistently late paying your bills, have payment defaults or other negative information on file. If you feel this score is not accurate, and you want to dispute it, the good news is that you can and you should! Learn more about how to correct a credit score.

Anything less than 300 is considered bad credit. If you don’t know why your score is this low, ask yourself –

  • Have I consistently failed to pay my bills on time e.g. power, internet?
  • Are you under 21 years of age?
  • Have I defaulted on any other loans?
  • Have I applied for credit many times in a short period of time?
  • Have I been declined credit multiple times?

1. You’re late paying your bills:

Did you know that every time you’re late paying an internet or power bill, it can affect your credit score? We’ve come across many situations where people were surprised they had a low score. Many own their own homes and have good incomes, but didn’t realise that by missing due dates by just a few days, it was causing their score to slump. If you’re paid monthly, as many salary earners are, and your bills are not timed with when you get paid, this is an easy situation to get into.

2. You’re young:

But that’s not your fault! If you’re young it’s likely your score will be lower, as you haven’t had time to build up a credit history. We understand that, and work hard to find young borrowers solutions. After all, the best way to improve your credit score is to consistently meet your loan repayments. So it’s a bit of a catch-22 this one!

3. You’ve defaulted on loans or acted as a guarantor to someone who has defaulted on loans:

If you’ve defaulted on a loan in the past, then it’s highly likely you’ll have a very poor rating. We also come across situations where applicants have acted as a guarantor for children or partners who have defaulted on loans. Sadly, as a guarantor, if you fail to meet those repayments on their behalf, it impacts your credit score too. So that good deed could end up costing you dearly.

4. You’ve applied for credit too many times, or been declined:

See the section below on ‘Does Applying For Credit Impact My Score’.

The good thing about credit scores is that they’re constantly changing. After five years, most information is cleared. So if you were going through a rough patch five years ago, and were consistently late paying your power bill, chances are it will no longer show on your credit report.

Lenders are more interested in your financial situation today. So if you’ve made a concerted effort to live within your means and meet your existing loan repayments on time, chances are your score will have improved.

The best way to improve your bad credit history is to pay your bills on time (before they are due is the best way to avoid late payments) and keep your credit card balance low.

If you’re worried about not being able to meet your existing loan repayments, or are finding it a bit of a struggle, you may want to apply for a bad credit debt consolidation loan. 

Finding a more affordable repayment plan, is a step in the right direction to helping you rebuild your credit profile. You may also find your loan costs are lowered, as having one large low cost loan is likely more affordable than lots of high cost loans.

We recommend the following online resources:
Sorted: Budgeting Tool
Sorted: How Credit History and Scores Work
Consumer Protection: How credit scores work, the impact of bad credit, and how to improve your score

If you have a bad credit rating, or are having trouble paying your bills, you can get support from a qualified professional. MoneyTalks, is a free financial helpline for advice and support from trained financial counsellors. MoneyTalks can also connect you with services in your community. Don’t wait for things to get so bad that you find yourself against a rock and a hard place! Seek support now.

Most New Zealanders are unsure of their current credit rating, so don’t despair if you’re in the dark about your credit profile. The New Zealand Government has a great guide on How To Check Your Own Credit Score. Every time you apply for a loan a credit check is completed so it helps to know your credit score before you apply.

Short answer – ‘yes’. Every time you apply for a loan, a credit check is completed. Details of credit checks are kept on file for around three to five years. If you are applying for many loans in a short period of time, it can negatively impact your score. This is because it could indicate that you’re applying for more credit than you can afford to repay. You can learn more about what impacts credit scores on the Government’s consumer protection website.

The key thing to remember is this – when applying for a loan, it’s vital to choose the right company. Here are three factors to consider when deciding who to apply with.

1. Choose a low-cost provider. High-cost loans can impact your credit score. Loansmart arranges loans with low-cost lenders. The maximum interest rate is 35.50%, and the lowest interest rate is 9.95%.

2. Choose a reputable company. Loansmart is trusted and preferred by tens of thousands of clients across NZ. Many of the loans we arrange now are to existing clients, this is because they trust us to provide great solutions. Having been in business since 2008, we’re proven, experienced and extremely good at what we do! Review our 5-star Loan Reviews on Google My Business.

3. Choose a lender that can provide more options, for more chances of success. You’ve got a good chance of getting your application approved with Loansmart. We have a range of loan providers to approach. Loansmart gives you access to more options and a more inclusive lending criteria.

Remember, every time you apply for a loan a credit check is completed. Credit checks impact your score. So choose a provider that’s more likely to be able to offer you a solution, so you don’t have to keep applying!

It’s possible with Loansmart. If you’ve failed to meet other lending criteria before, we may still be able to help you. We believe in second chances which is why we try to offer a range of bad credit Personal Loan options including Bad Credit Debt Consolidation Loans and Bad Credit Car Loans. Loan approval is dependent on your current monthly income and financial position, but we try our best to help you. Give us a call today on 0800 255 155 or fill out an online loan application.

If you’re searching for “no credit check loans online instant approval” or just ‘no credit check loans’, you likely have bad credit and need money urgently. We still may be able to help you. Check out this article. 

Loansmart specialises in providing super quick solutions to people looking for instant loans.

There’s no such thing as an “instant loan”, but if you’re searching for one then you probably need cash quickly.

Same-day loans are definitely possible, but any responsible lender will need to carry out some checks before lending you money to make sure you can afford the repayments.

The acid test here is how much you can afford to repay. The last thing you want to do is put yourself under more financial pressure, default on loans or fail to meet your payments on time. Call us for a FREE Loan Assessment. We’ll talk you through your options. If you have loans already, we’ll see what you can potentially save on loan costs by consolidating your debts into one low-cost loan.

The minimum loan repayment term available is 6 months, while the maximum available is 7 years.

Smarter Loans >>> Faster

We care about our clients

If you’ve struggled with paying bills in the past, the last thing we want to do is put you under more stress. Instead, we help by finding a loan repayment solution you can afford. Giving yourself a bit of ‘wriggle room’ can help ensure you don’t miss payments in the future, so you can rebuild your bad credit history! We are not high cost lenders, so we offer fairer fees and lower interest rates on our quick loans.

To provide you with the very best lending experience we


Move Fast

Most loans can be approved and paid the same day*, so long as we have everything we need from you before 3pm.
*Subject to responsible lending checks and lending criteria.

Make It Easy

No need to scan and sign, fill in and upload lengthy documents. All we need is Photo ID and recent bank statements (we make that super easy and secure too!).

Make It Enjoyable

We keep you updated every step of the way, so you always know where you’re at with your application.

Make It Affordable

We work hard to find you the best deal we can. After all, we know what a difference those extra savings can mean.

Get a fairer deal, faster from a professional team that cares

A lot of people think they have bad credit, but …

In actual fact it’s not that bad at all. If you need an Emergency Loan, it’s really important you don’t pay more than you have to. Some people take the first loan they can get thinking they may not have other options.

Sadly, they end up paying huge interest rates and fees. The last thing you want is to default on loan payments, and if lending costs are high it’s easy to do. Unlike other bad credit lenders we keep our costs low to help you to meet your repayments on time and ultimately improve your credit rating. Give us a call first on 0800 255 155 to discuss how we can help you today.

Not all situations will meet  lending requirements; however, once we have an idea of your individual circumstances we do everything we can to help.

Complete our application form to get started or call 0800 255 155 for assistance with the loan process.

Don't Pay More Than You Need

Loansmart is highly reputable in the personal lending industry and has been providing services since 2008. Our experienced lending specialists work hard to get you the best deal.

Benefit from fairer terms, fees, interest rates and a team that cares.

Why Loansmart


We Say Yes More Often

Applied elsewhere but been declined? Loansmart provides more options than other lenders. With more options, you have more chances of getting your personal loan approved.

More Options Tailored For You

Pay down debt faster and more affordably with lower fees and interest rates. Don’t pay more than you need to and get more options.

Interest Rates From 9.95%*

Our competitive personal loan rates range from 9.95% - 35.50%.
*Subject to credit criteria and the credit profile of the applicant.

Longer Repayment Options

With loan terms from 6 months to 84 months, tailored to your needs.

Faster Approval Process

By providing us with your photo ID and recent bank statements online, your personal loan application could be approved in just 1 - 2 hours.
*Subject to responsible lending checks and lending criteria.

Same Day Payment*

*If you complete the online contract and any additional steps before the end of the day, then funds can be paid to your account. Depending on your bank, you may receive the funds that day or the next morning.

100% Easy, Online Process

No need to print, scan or upload statements. We simply send you a secure link that authorises us to view your statements online.

Borrow up to $75,000 Unsecured or more with a Secured Loan

The amount you can borrow and whether or not security is required is subject to standard lending criteria. We can use property (Caveat) or motor vehicles as security on a loan to increase the loan size, rates and terms.
Get the complete package from a team that genuinely cares, and works hard to provide better options for you. Get Loansmart!

*Subject to responsible lending checks.