Personal
loans for
kicking goals

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!
Won't impact your credit score!

Estimate your repayments

Find out how much your repayments and interest rate could be with our calculator.

Enter your loan details

$

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Estimated monthly repayments

$910.72

Example interest rate

6.74% p.a.

Comparison rate*

8.13% p.a.

Total charges

$1,857.28

Total repayments

$21,857.28

It won’t affect your credit score!

Check our rates and fees

Interest rate (p.a.)

6.74

% p.a.

up to

24.49

% p.a.

Comparison rates (p.a.)*

8.13

% p.a.

up to

25.87

% p.a.
*This comparison rate is based on an unsecured variable rate personal loan of $30,000 for a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. $495 establishment fee and $10 monthly fee applies.

Establishment fee

$395

Loans up to $15,000

$495

Loans above $15,001


Loan term

3 to 7 years


Our fees

$10

Monthly fee

$0

Early exit fees

*This comparison rate is based on an unsecured variable rate personal loan of $30,000 for a term of 5 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. $495 establishment fee and $10 monthly fee applies.

Personal Loan vs Credit Card



Whether it’s for buying a new car, doing home renovations, paying for a wedding, or to pay off some unexpected bills, there’s likely to be times in life when you’ll need to borrow some extra money. And two popular alternatives for getting the additional funds will be a personal loan vs a credit card. Credit cards and personal loans are both forms of credit that require you to make monthly repayments, but they will have different features and fee structures.

With a personal loan the money you borrow is all given to your upfront and it is for a finite amount of time. On the other hand, with credit cards, you are generally given a line of credit that you can use to make purchases up to a maximum amount of money and as long as you meet the minimum repayments each month, you can keep drawing money out as long as you don’t go over your maximum amount at any point in time. When deciding whether to get a personal loan vs credit card there are many factors to consider, and there are different pros and cons associated with each.



Personal loan vs credit card: Which is better?

Whether you should get a personal loan vs credit card will depend on your circumstances. Personal loans are often used for larger purchases such as a car, and credit cards for multiple smaller purchases but these are not always the case. Usually, credit cards have a higher interest rate than personal loans and there is a minimum monthly repayment that you are required to pay back each month. You can also choose to pay off the whole outstanding debt each month which will mean you can avoid paying any interest at all, although most credit cards also have an annual fee that you’ll still have to pay.

Credit cards offer a lot of flexibility and convenience as you can draw on extra funds as you need them up to a maximum amount. The downside of having such easy access to extra money is that it can sometimes be tempting to spend more than you realise or purchase things that you don’t need, and you can be up for large interest payments if you don’t pay your balance back in full. Although the good news is, credit cards often come with an interest-free introductory period where if you make the minimum monthly repayments, you’ll need to pay no interest at all during that period.

Unlike with credit cards, personal loans require you to decide exactly how much you want to borrow upfront. This means you won’t be as tempted to spend more once you’ve taken out the loan. And if you get a variable rate personal loan rather than a variable rate personal loan, you’ll know what your monthly repayments are going to be each month which makes it easier for budgeting. The interest rates for personal loans are usually lower, and if you have a lot of different debts taking out a personal loan for debt consolidation can be a good idea to reduce the overall cost of the loan.

You be wondering, is it easier to get a personal loan or credit card? How easy it is to get either a personal loan or credit card will depend on your particular financial situation and credit score as well as the terms and conditions of the bank or lender. Personal loans can be hard to get if you don’t have a good credit rating but there are low income personal loan options available too. It is worth shopping around and doing a personal loan comparison as well as comparing the different credit card options so you can find the best deal for you.

If you decide to go with a personal loan, MoneyMe personal loans online start from a low rate of $8.99 per annum, and you can borrow up to $50,000. With the quick online application process, depending on who you bank with if you submit your loan application during business hours the money could be in your bank account in less than an hour. With our same day loans, we’re completely upfront with no hidden fees or charges, and we don’t charge early exit fees. 

If you decide a credit card is best for you, MoneyMe has a low rate Freestyle Virtual Credit Account that is powered by Mastercard. This is just like a credit card, but even better. It will give you instant virtual credit of up to $20,000 and you can start using it straight away once it is approved. You no longer need to wait for your credit card to arrive in the mail, as it is all done digitally. If you want to use tap n pay in-store, you can simply add your Freestyle online credit card to your mobile wallet. Online purchases are easy too, you’ll find the credit card details in your MoneyMe account online. You also have the option to send money to your bank account. With a Freestyle Virtual credit card, you can also get 55 days interest-free on all purchases.

If you’re still having trouble deciding between a personal loan vs credit card, MoneyMe’s friendly and knowledgeable support team is available to assist you 7 days a week. Contact us today, and see how we can help you access the funds you need.

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How to apply

1 Check your rate and repayments

You can get a conditional loan offer in just minutes
without impacting your credit score!

2 Submit your application

Review your loan offer, accept it, and you’ll get an
approval outcome typically within 60 minutes.

3 Same-day transfer

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

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Loans for small
and big moments

Won’t impact your credit score!
Won't impact your credit score!
Big purchase
Renovation
Holiday
Medical
Debt consolidation
Vehicle
Education
Other

What our customers say

Average rating: 4.6, based on 3400 reviews
Legal Seafood MoneyMe Financial Group Pty Ltd AUD 1300 090 949 media@moneyme.com.au xx
Level 7, 352 Hunter Street Sydney NSW AU 2000
4.6 review rating
Personal Loan vs Credit Card

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