With more than 15.5 million credit cards currently in circulation, and an average of $22 billion spent on credit card purchases every month in the past year, it’s fair to say Australians are fond of paying with plastic.
If used correctly, credit cards can be an incredibly useful tool. But there are common credit card traps that can turn spending into bad debt – particularly at this time of the year, according to Australia’s financial comparison website, RateCity (www.ratecity.com.au).
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Laine Gordon
Head Of Public Relations
Laine Gordon is the Head of Public Relations at RateCity. With a background in journalism, Laine brings over a decade of experience in personal finance to the team. She is passionate about helping people get out of debt, save money, and make better decisions about their own finances.
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Can I get a $1,500 payday loan with bad credit?
Yes, it may be possible to get a $1,500 payday loan with bad credit. Some payday lenders give loans to people with bad credit histories if they believe the borrower has the capacity to repay the loan.
Under Australia’s responsible lending rules, lenders aren’t allowed to approve $1,500 payday loans if they don’t believe the borrower can make the repayments.
