Blink

Come to Blink for a bad credit personal loan.

Blink does not see bad credit as a closed-door and understands that there is more to life than a score. The full process is done online to make it convenient for you.

As a first-time lender, Blink offers you R2,500 to be paid back in one month. The benefit is that there are no drawn-out fees. This is an example of a payday loan. 

Get more when you take out your next loan

If you choose to use Blink for another loan at a later date, you'll be given up to R 4,000 credit with a more flexible repayment term.

Nine times out of ten, you'll be requested to agree to a credit check when you apply for a loan. Depending on your credit score, the lender will either adjust the interest rate they'll charge you or in the worst-case scenario reject your loan application altogether.

Lenders use your credit score to assess how much of a risk it would be to lend you money. It allows them to estimate your ability to pay back your bad credit loan and how likely it's that you'll do so. Bad credit's not a hard and fast rule, though.

No credit history, No problem

A credit score is based on your financial history. As a young adult, you may receive a bad credit score purely because you have no credit history, and there's not enough data available to evaluate the risk you pose to a lender. To build up a good credit score, you'll need to have six years' worth of credit history.

When Blink receives your application for a bad credit personal loan, they'll take all factors into account.

Whether your credit score is terrible or not, there are other factors they keep in mind when evaluating prospective clients. Unfortunately, if you're given a bad credit loan, you'll most likely be charged a higher interest rate.

Quick turnaround on loans

Loans from Blink can be paid into your account within 24 hours of signing the loan agreement. If you would like to receive the payment immediately, you can pay the extra R 57 and the payment will be paid into your account within seconds.

Do you qualify for a loan

To qualify for a personal loan with Blink, you need to be 18 years or older, a South African Citizen, and have gainful employment. Your loan repayments will be deducted by debit order every month, so you need a valid bank account in your name.

In South Africa, you're eligible for one free credit check per year. You should take advantage of this. Regularly checking your credit history means that you can catch errors and correct them before they negatively impact your future transactions. It can also help you avoid identity theft before it becomes overwhelming.

Blacklisting, late payments, and bankruptcy will haunt your credit history for ten years after the fact. So it's always important to keep your credit history as healthy as possible.