Personal finance loan
I received $600 through personal finance and ended up paying close to $1200 as the mongrels charged me 8% interest every month of my 12 MTH contract. That's a grand total of 96% interest.. Why are they allowed to break the law and get away with it. The law says they can only charge 48% interest maximum.. I am on a pension and they seriously overcharged me and I wish I could sue them but the government obviously don't take it serious otherwise crime converters would be closed down forever. They charge more interest than banks do and that ...my friends is total crap and should be illegal. Cash converters are the lowest of the low and they enjoy seeing people suffer and have caused countless numbers of people to lose their belongings due to rediculous charges and the government allow them to do it.. like I said totally disgusting and they are shameless. Also give people bigger all for expensive items knowing people will take it because they are desperate and then they go and sell said item for more or less retail price the government need to seriously investigate these criminals
My mum got a $780 loan and now she has to pay back nearly $1700. Literally more than double the original loan amount, absolutely atrocious!!!!!!!!
Atrocious!! Atrocious! I will make certain she never goes there again. And spread the word!! Atrocious!!
I took out a loan I was informed how much I’m gonna pay back. When they drop the contract and showed it to me it was a lot more than what they had previously said. I question them the lady “Chloe” from the Brisbane Store was extremely rude. She informed me that it was Hometime completely rushed me said to me “are you going to do it or not you were wasting my time I need to go home” I didn’t do it as I left she said thanks again for wasting my time. Am I obligated to take a loan? They need to check their staff that’s for sure.
Stay clear of Cash Converters loans
To pay off a $1000 loan it’ll cost you $1700. Because of coronavirus, late fees ($33 each time) was meant to be cleared but now I’m paying $570+ In fees so the total is $2270+ For an $1000 loan. Called cash converters and they don’t care, if I don’t pay they will make it affect my credit score. NEVER EVER GET A LOAN OUT WITH CASH CONVERTERS. Use zip pay if you need money up to $1500 or go through your bank if you need anymore. Cash converters are rip off’s and should be sued.
Call centre is worst than Telstra.
I'm almost certain the woman I was talking to on the phone was drunk. Not only this, they also have connection issues and do not call back when you drop out.
Don't Bother - They only target people on Centerlink
Paid 2 existing loans off (7 months early)
Apply for another small amount, declined because of apparent changes to my credit file
Total load of bullsh*t from this Mob.
Bet you if would be a different story if my income was centerlink.
Don't waste your time, head over to spotmenow, much better, actually approve people and don't treat loyal customers like crap, honestly waste of time.
Worst decision one can ever make
Obscene about of ridiculous extra charges. Never explained them properly even after asking them. Had to pay over 3000$ for a 1300$ loan. Tons of extra hidden charges. Very bad customer service.
Consider this before applying
Some information you might like to consider before applying for a Cash Converters personal loan. During the current Corona virus crisis, in trying to do the right thing I shifted most of my purchases to EFTPOS, where I'd been using more cash before. I applied for a loan with Cashies, having had several before. I had just completed a 12-month, $1600 loan in 5 months. This time, the same loan on the same or more income was rejected, because of information on my bank statement. Paying everything by card means they see every transaction, and they t...end to use that information against you! Pay with cash to protect your ability to get loans, here's why: CC treats ANY AND ALL purchases from Coles, Woolworths, IGA, local delis etc as groceries and therefore an essential expense. And that counts against your commitments. Too many commitments, they won't offer you the same credit. So suppose you buy cigarettes, kids' toys, stationary, cosmetics and so on on your card.... it's ALL considered essential fixed expenses. Because I'd been doing this, my typical "grocery" bill in CC's eyes tripled since I started paying for these items, especially cigarettes, by EFTPOS. They look back 90 days. So your history before COVID (it's mid-year now and I changed my spending to all-eftpos early March) counts for nothing. My good history and good standing as a customer suddenly was out the window, doesn't count and doesn't help me, because I started buying my smokes on my card. So don't do that! I guess they don't value good clients very much. They knocked back my application on the basis of this sudden rise in "groceries". I've had a loan of this type with them every year for the past 10 years with a good history, and my last loan paid back in under half the time on the contract. They say this counts, but it doesn't seem to count for real much! Even a perfect history doesn't help you one bit, some piece of software that nobody can override, that lumps all purchases together as "essential", seems to know better. I needed the loan for dental work, I'm in pain and it's got to be done urgently. I cannot pay for it without, not without saving much more than the payments would be, for several months and the pain is intense. I'm now on Centrelink, during Corona I am unable to work at my job in live events, for obvious reasons. I have MORE income now with the supplement than I did working. So if you really need credit, and you're in a similar position, do not be too honest with them. They ask you what your expenses are but that means nothing, it's all done off your bank statement. It must just be an honesty test. Hide your spending, by paying cash. ANYTHING you buy from any supermarket, deli or basically anywhere that sells food, is considered groceries and therefore an essential expense and they consider it a "commitment". That "commitment" counts against your ability to get the credit you might need, even for actual essentials like medical or dental. It doesn't matter if you bought something else, if you get it from Coles, Woolies, IGA or the local deli, they call it essential commitments because it's groceries and you can't change that. If you smoke, or buy *anything* except food from these places, PAY CASH for cigarettes and tobacco. Also for toys for the kids, cosmetics, stationary, socks and undies, and treats and snacks outside the food you really need. Go to an ATM, withdraw the money and take it to the store. Or, go to the counter, get a cashout and buy it with that. That way, a question will come up on your loan application saying "you withdraw blah blah in cash from ATMs, can you confirm that this is for non-essential purchases only?" Or if you have another account from the one you submit with your application, spend from that, and DON'T declare that account to Cashies. It will count against you and they do not correctly, accurately or fairly assess your ordinary shopping when working out your "commitments". You cannot speak to a manager and convince them that not everything you buy from supermarkets is discretionary. Believe me, I've tried! Did speak to one, but it doesn't help. As ever, a piece of software makes the final decision. They say people review it and things like your perfect history with Cashies loans do count, but they just don't count for real much! Neither do those real people. The software has no way built in to "review" its decisions and what it says goes. I don't think even the boss there has a way to actually BE in charge and make these decisions. It's grossly weighted in favour of the great automated system in the sky. Another thing, assuming you can get the loan, be aware that as you pay it down, the interest does not reduce. Every month the interest is the same. It used to be that by paying more early, you could save more money on interest. If you make extra payments, you can reduce the number of months of the loan, but the interest each month does not get any lower.
Greenwood cash converters the worst store I have ever experienced!
I went to pay my loan after the Christmas holidays only to find out that my favourite ring was already sold !! No apology nothing !!! I purchased this ring from another cash converters for $1000 and they only gave me $160 and sold it from under me!
Customer Service was Cold and Sterile.
High extra Costs, due to the intrest rate of 49%p.a. Misinformation occurs due to there automated system. Which in turn rejects your application due to misinformation. And the Rate of this loan was Massive. 48 to 49%p.a.
The only way I’d recommend these loan sharks is if I was 100% guaranteed to work 50 hours a week, have an income of 150,000 a year and had won powerball worth 55 million. Apart from that don’t bother.
There no good.
Cash Converters application forms a flaud. There system is Flaud. I don't have a Cigno loan. Certainly not at $129 a fortnight. There no good. They need to there ways. There all no good. Hope no one working for this sort of so and so scum have an accident over. It will be there karma.
Cash converters wouldn't even give a $300 loan to a bushfire victim. I would never support this vermin company whatsoever..avoid at all costs. Disgraceful company! Shut them down now plz
Pathetic, untrustworthy and a complete waste of time
If I could write a 0 star review I would, dont waste your time. Sure, you might get approved for your first loan but once youve paid it off they wont bother to help again. I was short of cash and desperately need money to get back to Adelaide and for some reason I never met their requirements, pls note that Ive been a valued customer for almost 2 years and have never missed a payment. I will no longer use their service again, very frustrating and disappointed.
I was declined. Poor customer service. Disgusting lending policies. Never going to bother again. I simply needed help with my son's 2020 school fees and Booklist. Super fast declined application.
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