Low rates starting from 6.74% p.a. (comparison rate from
8.13% p.a.)
with money in your bank account in as little as
60 minutes.
Won’t impact your credit score!
Find out how much your repayments and interest rate could be with our calculator.
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It won’t affect your credit score!
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Won’t impact your credit score!
Loans up to $15,000
Loans above $15,001
Monthly fee
Early exit fees
You may be wondering, ‘can I use a personal loan to pay off a credit card’? The answer is yes—if you have a large credit card debt it may be worth considering taking out a personal loan to pay off your credit card. By doing this, you have the potential to save money by reducing your interest payments, as interest rates on personal loans are generally lower than your credit card rate.
Similar to taking out personal loans for debt consolidation, as well as saving you money, getting a personal loan to pay off a credit card can also make it easier to manage your debts by having one regular monthly payment, and a fixed repayment period. Having a fixed repayment period will make it easier to budget and you can see light at the end of the tunnel. Getting a personal loan to pay off your credit card can be a great way to simplify your finances.
Everyone’s financial situation is different, so before applying for a personal loan to pay off a credit card, it is worth doing a personal loan comparison so you can weigh up your different options. From a fixed rate personal loan or a variable rate personal loan, a secured or unsecured loan and short term loans or long term personal loans, there are many alternatives to consider when choosing the best loan for you. As well as banks, there are now several online credit providers, such as MoneyMe, who offer competitive rates for personal loans, so by shopping around you can find the best deal for you.
Offering some of the most competitive interest rates in Australia, MoneyMe’s easy loans start from a super low 6.95% per annum depending on your personal circumstances. MoneyMe is fully transparent with their rates so you’ll know upfront about the cost structure and any fees and charges. Whether you need a $5,000 personal loan, a $20,000 personal loan, or a $30,000 personal loan, MoneyMe can help. We offer personal loans online of up to $50,000—and we do it fast.
It’s important to keep in mind though, that taking out a personal loan to pay off credit card debt is a way to try to make managing your finances better, so you don’t want to borrow more than you can comfortably afford to pay back. At MoneyMe, we pride ourselves on being a responsible lender. We want to make your life easier, not harder! You can use our free online personal loan calculator to help you work out how much the repayments, interest, and fees are likely to be depending on how much money you are borrowing and for how long. This will help you work out what’s affordable before going ahead.
To apply for a personal loan to pay off credit card debt at MoneyMe, you need to be over 18, an Australian resident and employed in Australia. Other criteria we take into account to determine your loan eligibility include your income, your expected living costs, and your credit history. Several factors will affect your credit scores such as how much money you’ve borrowed, whether you’ve made your past repayments on time, and the number of credit applications you have made. Everyone’s situation is different so we don’t automatically disqualify anyone who has a bad mark on their credit file. We always see to it that we look at the big picture. There will be some instances, such as if you have a poor credit history, are bankrupt, or are in a debt agreement where we won’t approve your personal loan. If your loan does get rejected, however, you are welcome to apply again in the future when your situation improves. We also like to reward our customers who make on-time payments, so if you build up a strong MoneyMe credit history, we can offer you lower costs in the future.
Once you’ve decided you want to take out a personal loan to pay off a credit card, you are ready to apply online. MoneyMe provides a quick and straightforward application process. You just need to let us know the amount of money you’d like to borrow, what your ideal repayment period is, and then let us know some personal information such as your bank account details and your email address. There is no longer any need to supply reams of paperwork. Our advanced technology platform means that once we have received your online application you’ll usually receive the decision about your same day loans in just a few minutes. And the good news is once your personal loan has been approved, you could have access to your money within an hour depending on who you bank with. It will take a bit longer if you apply outside business hours.
If you have any questions about taking out a personal loan to pay off a credit card, our friendly support team can help you 7 days a week via phone, email, or online. If you are looking for quick loans with no hidden fees, MoneyMe is a great choice. Contact us today and see how we can help you to better manage your finances.
You can get a conditional loan offer in just minutes
without impacting your credit score!
Review your loan offer, accept it, and you’ll get an
approval outcome typically within 60 minutes.
Once approved, we’ll transfer the money to your bank
account immediately, even on weekends.
Must be Australian citizen, New Zealand citizen or permanent resident
Earn more than $30,000 p.a. from employment
Must at least be 18 years old
Bank-grade security
‘Read only' access to accounts
256-bit data encryption
Won’t impact your credit score!
Won’t impact your credit score!
MoneyMe Financial Group Pty Ltd
https://www.moneyme.com.au/
AUD
1300 090 949
media@moneyme.com.au
xx
And the experience was nothing short of outstanding.
The team at MONEYME have been amazing to deal with. Super fast and helpful service & I love how easy the app is to use. 10/10 from me.
Professional and friendly people to deal with. Absolutely great dealing with MONEYME!
Terrific service and almost too easy, great communication, the timing was prompt and the App very handy.. thank you.
The app is fantastic, I like being able to see exactly where I’m at
Great customer service and quick and easy response. There were no extra cost and very happy with the rate I received.
I have had no problems at all everything was done to my satisfaction at a fast and prompt manner.
Loan was sorted quickly and with little fuss. Will use again in the future.
Efficient and Great. Fast approval with a reasonable repayment plan. Can’t ask for much more than that.
Easy to deal with very comparative I will recommend this company and I will definitely use them again and again and again .
Was a stress free application and approval received within hours. Experience was awesome, kept me in the loop when required.
Was a stress free application and approval received within hours. Experience was awesome, kept me in the loop when required. 💚
It's all about the service that is provided for the customer. Would recommend to others
MONEME were a dream to deal with, super tech, super fast and super easy! I wished I had found them sooner.
I’d gladly recommend
MONEYME has been a great help and they assisted me with all my queries.
No Fuss and easy to apply. No problems at all. Straight forward. They took all the worries and before I knew it had my loan sorted. Just great.
Easy to do business with. It was a really easy process and I would highly recommend them.
Done an amazing job, very quick and very reliable. I would recommend MONEYME to everyone. Thank you
It's all about the service that is provided for the customer. Would recommend to others
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We sponsor a child on behalf of every Australian employee. All of these children live in the same community in Uganda, called Busakira.
We partner with Canteen to help fund the delivery of vital counselling services and programs.
Canteen is an Australian not-for-profit that provides free and tailored support to young people aged 12-25 who are impacted by cancer.
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Reducing our environmental footprint to support Australia's path to Net Zero.
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For a handful of smaller banks or credit unions, it may take 1 business day.
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