Payday loans in NZ can be a lifesaver when your short on cash. If you’re in a pinch and want to learn more about these increasingly popular short-term loans, we’ll go over all of the most important basics in this post. We’ll start with:

Payday loans are based on your income

At Pretty Penny Loans, we offer NZ payday loans to people in need of a fast injection of cash to cover urgent expenses. You can apply online and have the money paid into your account within 24 hours of your approval. The thing is, we don’t check your credit score when we process your application. Instead, we pay more attention to your current income.

It’s very important with payday loans in NZ that you earn enough to pay back what you owe very comfortably. No matter what kind of credit score you have, as long as you’re in steady employment, we’ll be able to help you out with a loan. Not employed full time? Then it’s best to get in touch directly before applying. With more information on your current circumstances, we might be able to offer you a certain level of support.  

The key documents you’ll need to complete your application are your ID and your most recent bank statements. Without this information we won’t be able to progress with your loan. Not sure you earn enough to apply? It doesn’t hurt to try. Our aim is to provide an amount that you can afford, so we’ll always try to help if we can.

It’s never a good idea to borrow so that you can spend

Spending is using money to buy things you want. This is not what payday loans are for. If you spend too much on things you don’t need using credit credit cards or short-term loans, you could work up quite a bit of debt very quickly. We always encourage customers to only borrow what they need instead of trying take as much as they can. The best way to someday achieve financial freedom, is to only spend what you can afford to lose.

Emergency costs are things like repairs on broken boilers, fridges or your car if you need it to travel to work. Unnecessary costs include things like expensive clothing, luxury assets and holidays. If these are the purchases you have in mind, you’d be better off considering other forms of credit that will give you far more time to repay the balance. Remember, payday loans need to be paid back with your next payment from work, so this is what you need to keep in mind when you apply.   

Missing repayments is a very bad idea

The last thing you ever want to do with a payday loan is miss any repayments. This will have severe consequences on your ability to borrow in future. It also means you could build up a significant pile of charges applied to late payments. Getting youself out of debt is essential if you want to get away from a life of worrying about money. At Pretty Penny, we have a great deal of understanding for all situations and individual circumstances. Whatever difficulty you face, we’ll make sure we do all we can to help. In the vast majority of cases, our instant payday loans are paid out to an account of your choosing within hours.

You can apply by phone if that suits you better

Most people will love the fact that you can apply for our payday loans online anywhere that you have an internet connection. We know that sometimes, you’d prefer to talk to an actual human, which is why you are also welcome to contact our team during our weekday office hours. Need to apply at night or during the weekend? Then it’s best to do so using our faster online application pages.

Once you’re application has been processed, we’ll get back to you with an offer and ensure the funds are transferred to your bank account as soon as possible. It’s best to contact us by phone if you need any further information regarding your exact situation or if you want further advise regarding increased loan amounts.

Read more about payday loans in NZ here, or in our previous blog post: 5 Common Mistakes People Make With Payday Loans

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