Do payday loans affect credit score?

The act of applying for credit can have an adverse impact on your credit score. The reason for this is because a lender may run a search on your credit history before offering you a loan. If a lender is offering you a payday loan without doing this check, we would advise you to be wary. 

At Nimble, if you do encounter financial difficulty we encourage you to contact us as soon as possible to avoid encountering further issues. We do our best to help in every situation, but we need time to be able to offer helpful advice and come up with a solution if we can. If you know or think you won't have sufficient funds in your bank account to cover your repayment, we ask that you contact us immediately by calling 133 156 (during business hours) to stop the direct debit. By advising us ahead of time, you may avoid the payment dishonour fees imposed by your bank.

The information on this website is general in nature and does not take into account your objectives, financial situation or needs. Terms, conditions, fees and charges apply, and are subject to change. Applications are subject to Nimble’s credit approval criteria. Redraw not available.

Nimble members who have previously borrowed and repaid one or more loans in full may be eligible to apply for up to $10,000 in their Member Area.

For our Small Loans of $2,000 or less, an APR (Annual Percentage Rate) doesn't apply. These loans are fee-based only, and so they don't have an APR. The establishment fee is 20% of the amount borrowed and the monthly fee is 4% of the amount borrowed.

For our Personal Loans between $2,050 and $5,000, the Annual Percentage Rate (APR) is 47.6158% (Comparison rate 65.6597% p.a.) and there is a $400 Establishment Fee. For our Personal Loans between $5,050 and $10,000, the Annual Percentage Rate (APR) is 47.6158% (Comparison rate 47.6158%) and there is no Establishment Fee.

Warning about borrowing