Flexible credit at your fingertips
Introducing Freestyle: Australia’s first virtual credit account, which is like a virtual credit card that provides you with all-in-one access to shop now & pay later with a line of credit and more. If you’re looking for a credit card that offers ultimate flexibility, Freestyle is the smarter choice. It lives in your smartphone and not in your wallet, delivering you access to instant, reusable loans in the form of a line of credit up to $20,000.
Tap and Pay in-store and shop online anywhere with Mastercard or send money to anyone. Our smart tech assesses your application in real-time so you can get all these express cash perks in a matter of minutes without any lengthy paperwork.
What is a line of credit?
A line of credit is a type of credit product that lets you access funds on a revolving basis. Rather than credit in the form of a personal loan that is funded on a lump sum basis, a line of credit offers anytime access to your credit limit, which can be drawn down in increments, repaid in full or in part, and then drawn down again the next time you need money on-the-go.
Think of it like a quick loan, small cash loan or unsecured personal loan that offers you cash today with repayment options tailored to you. We won’t charge you early payout fees when you repay your line of credit in full. We also align your fortnightly or monthly repayments with your current pay cycle, so you won’t have to worry about getting caught with late fees. MoneyMe offers a complete suite of credit options designed for Gen Now. They’re flexible funds whenever and wherever you need them.
A better way to access money
Freestyle is transforming the way credit works. Not only do we offer an entirely online application and approval process, but we also don’t waste time and resources with unnecessary plastic. Your credit card lives in your smartphone and is designed to support in-store Tap and Pay and online shopping. It’s a modern credit solution to address consumer demand for quick service and instant solutions. It’s easy to apply and get approved for – even your contract is signed digitally! Cash advance loans in the form of a line of credit have never been this flexible and easy.
Understanding how to calculate the interest rates on your cash loans online or same day loans is important. If you have taken out an unsecured car loan or a mini loan, then you will be able to understand what part of your regular repayment constitutes your principal loan amount (the amount you borrowed) and which part is the interest amount.
Freestyle is like a virtual credit card with up to 55 days interest-free on all purchases. This means that you get no interest charge until this period has expired, and you may be able to pay with no interest if you repay in full within 55 days.
When you take out personal loans, Australia has various loan providers that offer fixed repayment schedules in which your yearly interest is broken down to monthly amounts. This interest repayment is automatically calculated into your fixed repayment amount that you pay fortnightly or monthly, depending on your pay cycle and personal preference.
Your expected repayments
A personal loan calculator can show you what the total amount of interest is payable over the length of your loan and give you an indication of the kind of repayment amount you will be looking at. If you’re asking yourself, “How much can I borrow?” or “Will I be capable of making monthly repayments?”, a personal loan repayment calculator may help paint a clearer picture for you and give you an estimate of your expected rate should you proceed with your loan application.
If you’re looking for a quick way to calculate your monthly interest on a line of credit or on small personal loans, check out our loan calculator. It’s online and easy to use. Simply enter your desired loan amount and preferred repayment duration, then you’ll get a preview of your repayments right then and there.
Line of credit eligibility
If you are 18 years or older, a resident of Australia and currently employed, then you are eligible to apply for our line of credit, easy loan or short term loans. As a responsible money lender, we also look at a range of factors such as your credit history, income, living expenses and the existing small loans you may have before we make a decision.
Where can I use my line of credit?
A line of credit offers you access to revolving amounts of credit when you need it rather than a complete lump sum of credit like unsecured loans funded into your bank account. It’s the more flexible alternative to small personal loans that gives you the freedom to decide how much to spend and what for, all within your credit limit.
You can use a line of credit like a cash advance that offers you credit funds for covering expenses when you’re a little short, or when an unexpected expense arrives like car repairs, travel expenses or education fees. You can make quick and easy online purchases like a flight from Sydney to Melbourne at a great price using your Freestyle Virtual Credit Account. If you’re planning a wedding, consider our wedding loans to put down a deposit for your venue and big event.
You can use your line of credit for things like rent assistance when rent is due before your pay cycle or for covering your grocery bill, your utilities, or for getting your hands on that perfect sale item available only for a limited time. If you’re planning an interstate move from Perth to Adelaide, or a short stay in Brisbane, use your line of credit to access quick cash and cover your expenses upfront.
While a line of credit or same day cash loans may offer quick cash access for your daily needs, big-ticket items might be better suited to a specific loan type like a boat loan.
If you’re planning to pursue a new degree or develop your existing skillset, then student loans or an education loan might be the best option for you. Travel loans offer you another option, helping you to budget carefully for holidays or extended travel overseas. If you need help for a rental property, then a bond loan can offer you the funds you need to pay for moving expenses, while renovation loans can help you cover the cost of improving your property. We offer all these types of loans as unsecured loans with personal loan interest rates tailored to you, meaning you don’t have to present collateral to secure the loan.
For day-to-day living expenses and help when you need it fast, choose the flexible line of credit from MoneyMe. Experience a Virtual Credit Card fast approval: Apply now, get an outcome in minutes and access money in as little as 60 seconds from approval.
With our line of credit Perth, line of credit Hobart, line of credit Adelaide, line of credit Sydney, line of credit Brisbane, and line of credit Melbourne, you can access funds when you need it and how you wish to use it. Think of it as a credit card, but better because it also comes with lower fees, and it even allows you to send money straight to your bank.