Bad Credit Loans
A loan with bad credit is possible¹ with Cash Train - we’ll give you a go!
Good Outcomes Even with Bad Credit
Check out our recent Google reviews - we'll give you a go!
Your eligibility
As a responsible lender, the most important thing is that the loan is affordable and suitable for your needs.
We focus more on your current finances, rather than any issues with your credit history.
To qualify, you must:
Get a loan even with bad credit
Applying for a bad credit loan with Cash Train is simple. We’ll consider your application even if you have had credit problems in the past, with approval subject to our assessment and responsible lending criteria.
Your application
You can apply online at any time - even with money problems in your past. All you have to do is answer some simple questions. It takes just minutes.Assessment
How Loans for Bad Credit Customers Could Help
Life doesn’t always go to plan, and unexpected expenses can arise when you least expect them. If you have poor credit, traditional lenders may not approve your cash loan. This would leave you without options when you need financial support. That’s where Cash Train’s bad credit loans could help—providing access to funds when you need them most.
Fast Cash for Unexpected Expenses
Emergencies can happen anytime. Not having enough money to cover them can make a hard situation even worse. A Cash Train bad credit personal loan could help with:
- Medical bills – Covering unexpected healthcare costs, specialist fees, or urgent procedures—including dental.
- Car repairs or maintenance – Getting your vehicle back on the road after a breakdown, accident, or service check.
- Home repairs – Fixing plumbing, electrical issues, or urgent maintenance.
- Family emergencies – Providing financial support when loved ones need help.
If you have an urgent expense, a Cash Train emergency loan can help. It gives you quick access to money, so you can deal with the situation right away.
Support for Essential Expenses
Sometimes, financial pressure may come from unplanned, or urgent expenses beyond daily living costs. Personal loans with bad credit could help cover:
- School fees and education costs – Ensuring tuition, books, subscriptions, courses, and uniforms are covered.
- Moving costs – Covering bond payments, rental deposits, or relocation expenses when moving house.
- Replacing essential household items – Purchasing a new fridge, washing machine, laptop, or other necessary appliances.
- Unexpected travel expenses – Covering urgent trips for family emergencies or work-related reasons.
These loans provide short-term financial support for specific, necessary costs, helping you manage unexpected financial obligations.
Helping You Move Forward with Cash Train
Beyond emergencies and one-time costs, a bad credit loan from Cash Train could also provide a boost for important life expenses. Some common uses include:
- Education and training – Investing in courses or qualifications to improve job prospects.
- Car maintenance – Ensuring your vehicle remains roadworthy and legally covered.
If used responsibly, a Cash Train loan could give help you out in an emergency. Helping you to manage life’s expenses smoothly.
Why Choose Cash Train?
Cash Train provides loan options when you have bad credit. We could help cover urgent expenses like car repairs, medical bills, moving costs, and more.
We offer:
- Small Cash Loans ($200 – $2,000) – Repay over 2 to 12 months.
- Personal Loans ($2,001 – $8,000) – Terms of 11 to 20 months.
At Cash Train, we assess how much you could afford, based on your income and expenses, not your credit score.
We have a quick application process, clear fees, and no penalties for early repayment. We make borrowing easy and stress-free, even if you have bad credit.
Learn more about how our loans work.
Bad Credit Loan FAQs
Who is Cash Train and what makes it different?
Cash Train is a responsible short-term lender providing fast cash loans and personal loans to Australians for over 20 years. We operate both online and through branches across the country, offering a simple and transparent borrowing experience.
Cash Train follows the National Consumer Credit Protection Act 2009. We assess every loan application carefully to ensure it is suitable for the borrower. We give our customers a fair go, without hidden fees or penalties.
- We consider applications from customers with bad credit or receiving Centrelink benefits, unlike many other lenders.
- No hidden fees and no early repayment penalties.
- Fast online applications with same-day processing in many cases.
- In-person service at branches for those who prefer face-to-face applications.
Learn more About Us here.
Can I get a loan with bad credit?
Yes, in many cases! At Cash Train, we consider applications from people with bad credit.
We will assess your current financial situation. However, we focus more on your current ability to repay rather than your past credit history.
Does Cash Train check my credit score when I apply?
A credit check may occur, but only for personal loans with loan amounts over $2,000.
Cash Train does not conduct a credit check when you apply for a loan up to $2,000.
While we do not do credit checks on our smaller loans. We focus on your current financial situation. This includes your income, expenses, and disposable income. We do this to determine if the loan is affordable for you.
We will need to see your latest 90 days bank statements. Even if you have bad credit, you may still qualify, if you can comfortably manage the repayments.
How much could I borrow with a bad credit loan?
At Cash Train, the amount you could borrow depends on the type of loan and your ability to afford repayments.
We offer two types of loans:
1. Small Cash Loans (Small Amount Credit Contracts – SACCs)
- Loan Amount: $200 – $2,000
- Loan Term: 2 to 12 months
- Repayments: Fixed repayments over the length of your loan
- Fees: An establishment fee: 20% of the loan amount, plus a monthly fee: 4% of the loan amount
Learn more about our small loans with bad credit.
2. Personal Loans (Medium Amount Credit Contracts – MACCs)
- Loan Amount: $2,001 – $8,000
- Loan Term:
$2,001 – $2,999: up to 14-months
$3,000 – $4,600: up to 16-months
$4,601 – $8,000: up to 20-months - Fees & Interest:
Establishment fee: $400
Interest: Fixed interest charges apply
Are there any guaranteed loans for bad credit?
Cash Train makes every effort to offer loans to customers with a bad credit history. However, not every applicant will be eligible for a loan.
We consider applications on a case-by-case basis. We know that people’s current circumstances are not always indicative of past credit incidents.
How do I check my credit history?
Credit reporting agencies in Australia manage your credit rating (credit score). You can check your credit score for free once a year from the following providers:
- Equifax – www.equifax.com.au
- Experian – www.experian.com.au
- illion – www.illion.com.au
To request your credit report, you’ll typically need to provide:
- Your full name, date of birth, and address
- A copy of your driver’s licence, passport, or Medicare card
- Any previous addresses from the past five years
Checking your credit score does not affect your rating. Reviewing your credit report can help you understand your financial history and ensure there are no errors.
Tip: For cash loan requests up to $2,000, Cash Train does not check your credit score. So, even if you have a low credit rating, you may still qualify based on your income and affordability.
What credit score is considered as a bad credit rating?
Credit scores in Australia typically range from 0 to 1,200, depending on the credit reporting agency.
Here’s a simplified breakdown of credit score ranges across major agencies:
- Excellent: 800+
- Good: 625 – 799
- Fair: 500 – 624
- Poor (Bad Credit): Below 500
A bad credit score is generally considered to be below 500, but each lender has different criteria.
Cash Train may check your credit score when assessing loan applications for amounts over $2,000.
However, we focus on your income, expenses, and ability to afford repayments. This means that you may still qualify even if your credit score is low.
What types of income are accepted?
We accept income from:
- Employment (full-time, part-time, or casual work)
- Self-employment (with proof of regular earnings)
- Centrelink benefits (such as Age Pension, DSP, FTB, Carer’s Allowance, JobSeeker) - See our Centrelink loans.
Can I get a loan if I’m receiving Centrelink benefits?
Yes, it's possible! Cash Train considers Centrelink loan applications from individuals receiving Centrelink benefits. We assess your ability to afford repayments based on your income and expenses, rather than your credit history.
Commonly accepted Centrelink benefits include:
- Age Pension
- Disability Support Pension (DSP)
- Family Tax Benefits (FTB
- Carer’s Allowance
- JobSeeker (Newstart)
Each application is reviewed on a case-by-case basis to ensure the loan is affordable and suitable for you.
If you receive Centrelink as your primary income. You may still qualify for a loan, if your disposable income meets our affordability criteria.
We'll give you a go!
What is the interest rate on a bad credit loan?
The cost of your loan depends on the loan amount, loan term and loan product. For Cash Loans from $200 to $2,000, an interest rate does not apply. Instead, Cash Train charges a 20% establishment fee and a 4% monthly fee, based on the amount borrowed.
For Personal Loans over $2,000, interest and fees apply. The Annual Cost Rate may vary depending on the loan amount and term. The total cost will be shown clearly before you agree to proceed.
Can I repay my loan early without penalties?
Yes! You can pay off your loan early without any extra fees or penalties.
