Loans
Credit Card Definition
What is a Credit card?
Unsecured lending is where the financier agrees to advance the money to the customer for the loan purpose but takes a “goods mortgage” ( Bill of Sale ) or security over the item.
Because of the greater risk to a Lender, the interest rate is going to be generally higher, and the customers profile will need to be stronger, especially with regards to the borrowers credit rating; refer to the 6 C of Credit Assessment.
Unsecured Loans have a longer term as well, and can be taken over a 7 year period, where as for secured lending the loan term has a maximum of 5 years.
Credit Card Uses
Unsecured Personal Loan Borrowers need to show a Good Credit History
Unsecured Personal Loans can be for any worthwhile purpose.
Below is a List of purposes most people have Unsecured Loans for:
- Unsecured Loan for a holiday
- Unsecured Loan for Debt Consolidation (Combining several loans or credit cards into 1 loan)
- Unsecured Loan for home renovations
- Unsecured Loan for a wedding
In the case of debt consolidation, click here for information on debt consolidation, or to apply online.
Take a look at the Credit Card Providers below, or make an application online
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Compare Credit Card Providers Below:
Also read the adverts for Credit Cards in Australia on this page. |
| Provider | Product | Rate* | Fee* | Days* | Enquire |
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Freq Flyer Visa Gold | 18.74% | $195 | 55 |  |
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Quantas Gold MasterCard | 18.74% | $145.50 | 44 | |
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RSPCA Rescue Visa | 14.49% | $36 | 40 | |
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MasterCard | 12.29% | $49 | 55 | |
Rate is the rate of interest charged on outstanding balances
Fee is the annual fee charged once every year
Days is the number of interest free days from the date of purchase
The Easy way to get a Credit Card
Searching for a Credit Card is as easy as 1-2-3! Apply Online today for a free, no-obligation quote
Read About the CardsRead about Credit Cards, & decide if that is the best card for you.
Compare the Credit CardsCompare Credit Cards from the Providers and adverts on this page.
Apply for a Credit CardApply Online for a Credit Card & a specialist will contact you.
Unsecured Payday Loans
Unsecured Payday Loans from Payday Lenders
Some Payday Lenders will physically take an item of worth as security, against the amount of money they are lending. When the loan is paid back, they will return the item back to you. If you default on the loan they could eventually sell the item to recoup the unpaid money. Items often taken as security are easy to re-sell, such as:
- Jewellery, such as rings and watches.
- Stereo and Hi Fi equipment
- Power tools
- Electrical equipment, cameras, computers etc.
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