The Fair Go Finance Personal Loan is an Australian-based lending option designed for individuals seeking fast, flexible loans, particularly those with imperfect or bad credit. Below is an expert review of Fair Go Finance’s personal loan offerings as of August 2025, based on available information from sources like CreditCard.com.au, Trustpilot, Traders Union, and others. This review considers your interest in credit cards (e.g., Capital One VentureOne, BoA Alaska Atmos Business/Summit, cred.ai Unicorn, Barclays Hawaiian Airlines, David Jones Premiere/Prestige) and your likely money style (Travel Enthusiast, Rewards Maximizer, Budget-Conscious Spender, Premium Perks Seeker, or Credit Builder). Since Fair Go Finance offers personal loans rather than credit cards, I’ll focus on its relevance for your potential need for quick funding or credit-building, with comparisons to your inquired credit card options where applicable.
Overview
Fair Go Finance, a Perth-based non-bank lender, provides personal loans ranging from $500 to $10,000 with terms from 3 to 36 months, catering to Australians needing fast cash, especially those with poor credit histories. Operating since 2008, it emphasizes a “fair go” philosophy, offering same-day funding, flexible repayments, and no early repayment fees. It’s particularly appealing for borrowers rejected by traditional banks due to credit issues, with a focus on personalized loan assessments. However, high interest rates and fees make it a costly option compared to credit cards or other lenders.
Key Features
Loan Types and Amounts
- Small Loans (SACC): $500–$2,000, terms of 3–12 months.
- Medium Loans (MACC): $2,050–$5,000, terms of 6–15 months (up to 19 months in some cases).
- Large Loans: $5,050–$10,000, terms of 14–24 months (up to 36 months for larger amounts).
- Purpose: Suitable for emergencies, medical expenses, education, travel, rental bonds, or debt consolidation.
Interest Rates and Fees
- Small Loans:
- Establishment Fee: $60–$400 (20% of loan amount).
- Monthly Fee: $25–$80 (4% of loan amount).
- Interest: Not applicable (fees-based structure per SACC regulations).
- Example: $1,000 loan over 3 months = $200 establishment fee + $120 ($40/month) = $1,320 total.
- Medium Loans:
- Interest Rate: 29.9%–47% p.a.
- Establishment Fee: $400.
- Monthly Fee: $0–$18.
- Example: $3,000 loan over 12 months at 47% = $400 fee + $947 interest = $4,347 total.
- Large Loans:
- Interest Rate: 21.9%–25.9% p.a.
- Establishment Fee: $546–$795.
- Monthly Fee: $9–$14.
- Example: $5,050 loan over 24 months at 25.9% = $546 fee + ~$1,300 interest = ~$6,896 total.
- Other Fees:
- Arrears Fee: $35 for late payments.
- No Early Repayment Fee: Pay off early without penalty.
Application Process
- Online Application: Takes ~6 minutes, requiring ID, bank statements, and debt details.
- Approval Time: Fast, often same-day funding if approved.
- Credit Check: Performed, but a real person reviews applications, not just automated systems, increasing approval chances for bad credit applicants.
- Eligibility:
- Age 18+.
- Australian resident (permanent, working visa, or sponsorship visa).
- At least 50% of income from employment (not solely Centrelink).
- No bankruptcy in the past 12 months.
- 90-day bank statement review for income consistency.
Repayment Flexibility
- Frequency: Weekly, fortnightly, or monthly payments.
- Customizable Terms: Tailored to borrower’s financial situation.
- Credit Score Improvement: On-time repayments reported to credit bureaus, helping rebuild credit.
Pros
- Bad Credit Friendly: Considers applicants with credit scores as low as 450, offering smaller loans to those with “below average” ratings.
- Fast Funding: Same-day transfers possible, ideal for urgent needs like medical or emergency expenses.
- No Early Repayment Fees: Pay off loans early to reduce costs.
- Flexible Terms: Loan amounts ($500–$10,000) and repayment schedules suit various needs.
- Customer Support: Australian-based, accessible via phone or online, with a 4.8/5 Trustpilot rating from 3,764–3,800 reviews praising fast approvals and ease.
- Credit Building: Responsible repayments can boost credit scores, aligning with your interest in cred.ai’s credit-building features.
Cons
- High Costs: Interest rates (21.9%–47% p.a.) and fees (up to $795 establishment) are significantly higher than traditional bank loans or credit cards like Capital One VentureOne (0% intro APR for 15 months).
- Limited Scope: Primarily for Australians, less relevant if you’re not based there (unlike David Jones cards, which you also inquired about).
- No Rewards: Unlike your inquired credit cards (e.g., BoA Alaska Atmos Summit’s 100,000 points), loans offer no rewards or travel perks, limiting appeal for Rewards Maximizers or Travel Enthusiasts.
- Credit Check Impact: Applications trigger a hard inquiry, which may lower credit scores slightly, unlike cred.ai’s no-hard-pull approach.
- Niche Use Case: Best for emergencies or credit rebuilding, not long-term financing, compared to credit cards with ongoing benefits like Barclays Hawaiian (80,000 points, $99 fee).
Comparison to Your Inquired Credit Cards
Your inquiries suggest a mix of Travel Enthusiast, Rewards Maximizer, Budget-Conscious Spender, Premium Perks Seeker, and Credit Builder money styles. Here’s how Fair Go Finance compares to the credit cards you’ve asked about:
- Capital One VentureOne ($0 annual fee):
- Fit: Budget-Conscious Spender, Travel Enthusiast.
- Comparison: Offers a 20,000-mile + $100 travel credit bonus (~$300–$470 value) and 0% intro APR for 15 months, making it cheaper and more rewarding than Fair Go’s high-rate loans. Better for travel rewards but not for immediate cash needs or credit rebuilding.
- BoA Alaska Atmos Business ($95 annual fee):
- Fit: Travel Enthusiast, Rewards Maximizer.
- Comparison: Provides 80,000–85,000 points + $99 Companion Fare (~$1,160–$1,360 value), free checked bags, and no foreign transaction fees. More suitable for travel-focused spending than Fair Go’s loans, which lack rewards but offer quick cash.
- BoA Alaska Atmos Summit ($395 annual fee):
- Fit: Premium Perks Seeker, Travel Enthusiast.
- Comparison: Delivers 100,000 points + 25,000-point Companion Award (~$1,813–$2,000), lounge passes, and elite status benefits. Far more valuable for frequent travelers than Fair Go, but loans are better for urgent funding needs.
- cred.ai Unicorn ($0 annual fee):
- Fit: Credit Builder, Budget-Conscious Spender.
- Comparison: Like Fair Go, it focuses on credit building with no fees or interest, using AI to optimize credit utilization (~90-point score increase in 2 months). Fair Go’s loans offer cash access but at high costs, making cred.ai better for credit building without debt.
- Barclays Hawaiian Airlines ($99 annual fee):
- Fit: Travel Enthusiast, Rewards Maximizer.
- Comparison: Offers 80,000 points + 50% companion discount (~$960–$1,280), free checked bags, and no foreign transaction fees. More rewarding than Fair Go for Hawaii travelers, but loans provide immediate funds for non-travel needs.
- David Jones Premiere/Prestige ($99/$295 annual fee):
- Fit: Rewards Maximizer, Premium Perks Seeker (Australia-based).
- Comparison: Offers 2X–4X points at David Jones but no sign-up bonus, with perks like free delivery and lounge access (Prestige). Fair Go’s loans are more practical for quick cash in Australia, especially for bad credit, but lack rewards.
Your Money Style Fit
Based on your inquiries, you likely prioritize travel rewards, credit building, or budget-conscious options, with some interest in premium perks. Fair Go Finance fits if:
- You’re a Credit Builder needing quick cash and have poor credit (score <650), as it considers bad credit and reports repayments to boost scores, similar to cred.ai’s focus.
- You’re a Budget-Conscious Spender needing emergency funds in Australia, though high rates/fees make it less cost-effective than no-fee cards like Capital One VentureOne or cred.ai.
- You’re in Australia, aligning with your David Jones inquiry, as Fair Go is Australia-centric.
It’s less suitable if:
- You’re a Travel Enthusiast or Rewards Maximizer, as cards like BoA Alaska Atmos Summit or Barclays Hawaiian offer high-value bonuses (80,000–100,000 points) and travel perks, unlike Fair Go’s loan-focused model.
- You’re a Premium Perks Seeker, as Fair Go lacks luxury benefits like lounge access (offered by David Jones Prestige or Atmos Summit).
- You’re outside Australia, as its services are geographically limited.
Who Should Get This Loan?
- Bad Credit Borrowers: Ideal for those with credit scores below 650 who’ve been rejected by banks, as Fair Go offers tailored loans with human-reviewed applications.
- Emergency Fund Seekers: Perfect for urgent needs (e.g., medical, bonds) with same-day funding.
- Credit Builders: On-time repayments can improve credit scores, aligning with your interest in cred.ai.
- Australian Residents: Most relevant for those in Australia, especially near David Jones stores (per your inquiry).
It’s less ideal for:
- Rewards Seekers: No rewards program, unlike your inquired credit cards with bonuses worth $300–$2,000.
- Low-Cost Borrowers: High rates/fees make it costlier than 0% intro APR cards like Capital One VentureOne or Barclays Hawaiian.
- International Users: Limited to Australia, less relevant if you’re based elsewhere.
Bottom Line
Fair Go Finance offers a practical solution for Australians needing fast loans ($500–$10,000) with bad credit, providing same-day funding, flexible repayments, and credit-building potential. Its 4.8/5 Trustpilot rating reflects strong customer satisfaction for speed and support, but high interest rates (21.9%–47%) and fees (up to $795) make it expensive compared to credit cards like Capital One VentureOne (no fee, travel rewards) or cred.ai (no-cost credit building). It’s a good fit for your Credit Builder or Budget-Conscious side if you need urgent cash in Australia and have poor credit, but less appealing for Travel Enthusiasts or Rewards Maximizers compared to your inquired cards with substantial bonuses and perks. Consider alternatives like low-rate bank loans or 0% APR credit cards if cost is a priority.
To refine this recommendation, please share:
- Your location (e.g., Australia-based?).
- Your credit status (e.g., poor, good, building).
- Your funding needs (e.g., emergency cash, travel, retail).
- Your preference for loans vs. credit cards.
Note: Verify terms on Fair Go Finance or call 1300 324 746, as rates and eligibility may vary