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.
Don't expect your product to come in time
It said my product would take 3-8 days and it's the eight day and I checked my email and 4 days ago I received an email saying my product was dispatched and I clicked on the tracking link to find out that the earliest day for it to come is today and the latest is five days later.
check elsewhere before buying
if you see something you like I would advise to then check online on something like ebay or an online store and you will no doubt find it alot cheaper and newer, don't impulse buy anything. There is some ok prices things like sound gear and hand tools which they have so much of they are trying to unload.
I have seen second hand items instore even more expensive than the item was new, it's a questionable business tactic even though it's legal i feel it preys on peoples ignorance. phones especially very overpriced . you can get new phones that are better for cheaper. Do not sell anything to them either, use something like ebay to sell it, you will get alot more.
My disabled son purchased a laptop from CC Capalaba for $219. Several keys didn't work. He tried to return it three days later but request was refused. His father went with him next time to return it but the employees refused. No manager was available to speak to and the employees didn't know when the manager would be in. It seems no one can contact the manager by phone or email to find out. The customer service was deplorable. The store is displaying a 30 day warranty on goods but according to their website the warranty is 90 days. Cash Converters should be more responsible when dealing with vulnerable people.
Update. Manager was available today. She was very helpful and offered a credit note for the cost of the laptop. Thank you Simone
- Cash Converters
- Verified customer
Recently bough 3 item.received 1 only
Recently bought 3 item as a gift for my family before went oversea next few weeks..
Only receive 1 out of 3..paid for express of COURSE.customer complaint came without no further action.will see how its going in time being.however a big “THUMBS UP” for craigiebrn store for delivered. 27/11/18.till 1/12 only 1 arrived.400$+ spent there.
New webshop site rubbish.
The new webshop is rubbish. You can't navigate like the old one. Don't think I'll be buying again.
Also tried to login. said it was invalid.
Judgemental staff At Parramatta
A friend hoped for a loan on his bicycle and I went with him. Because the bike was a hand-me-down kind of gift from a friend, thus no receipt of purchase, the clerk seemed to assume it may have been stolen, as her attitude towards us became quite frosty. She explained that bikes are the easiest things to steal, therefore if a receipt can't be produced, then no sale or loan can be given. Fair enough, but her attitude was appaling all the same as she was quite friendly upon the initial approach.
They Provide the Retal experience to the used marked, but at a cost.
Cash converts is good for some one who is time poor, and just wants the retail experience, one thing that is good about them is that they provide warranty on used purchases. Cash Converters is a business, so when you make a transaction with them they provide a service and expect what ever deal you make with them they will always make the profit, not you. So if you want to sell something they will give you the lowest possible price and when you buy stock of them they will set it at retail and expect you to bargain down the price. So if you are l...ike me and like to take a risk and expect good profits on buying and selling used stock, stay far-far way from cash converts, they are like putting a middle man between you and the buyer/seller to take their cut. Every time i go into a store i get a bad feeling and i almost never find something i want to buy. Once i had to buy something from them and it was a bad experience, of course the price was on the high side, and it amazed me that in the last minute they tried to up the price well after the deal was done, this is not the Australian way. I think is much better to take your time and buy and sell on Gumtree, but as i said some people are scared of Gumtree and want to pay extra for the convenience of Cash-converts.
I bought your twin tub after 12 months the paint peeled off and the whole bottom of the machine has gone rusty my friend has the same machine same problem
- Cash Converters
- Verified customer
Ok, but expect a fair few screw overs if shopping online.
For the most part they're ok, I have had several issues with them tho. Just recently, they sold me an item online only to tell me like 3 days later that I've been refunded for the item without a reason. Still currently waiting for the reason they sold me that item, just to take it away from me. Then they don't describe the item properly i.e. region locked handheld and I end up having to be refunded as it doesn't work with Australian games. Also they tend to have an item online that has already been sold that you can buy, but then tell you its b...een reserved for someone else, even when they have the to buy option for it still available. Pretty average to be honest, 2/2.5 at most i give them atm with the current service that I've received. My situation tho, after viewing Matthew Cardiers comment goes to show that my situation is just like what he's.going thru. If this is how they work, and they give their employees first dibs, then i give them a 1 out of 5 overall.
Misleading Loan Calculator On Website
I always expected a high interest loan with Cash Converters anyway and used their loan calculator before going in then finding out at the end of my application in store that for the first 6 months of the term I'd be hit with double the monthly repayment amounts originally quoted.
Not only this but when you're not even halfway through paying your loan expect to get calls from your local cash converters store saying due to paying on time we're happy to offer you another loan.
Um no thanks and that's just encouraging people to go more broke.
Computer has last word
After attending Cash Converters Geelong around five weeks ago i was treated with the utmost respect and help anyone could ask for but there's always a but after paying out my centrelink loan earlier this week and obviously having more disposable cash than the first time i went there i was sure i could borrow some more money for Christmas and bloody car repairs, although to my shock and horror i was told that i would be lucky to get ''fifty dollars'' by the boy behind the counter. So i meekly pick up my possessions and leave the store determined...to go home and do my sums again and no i am not losing my mind they add up the same i have 430 dollars left after all my bills and loans but Cash Converters can't lend me even fifty dollars but the computer says, lol. Damn shame the young lady [name removed] wasn't working she just has a whole better way with dealing with people, I won't say this boy was rude but definitely smug. Sorry guys from someone who always pays his debts, you have lost me. Gordon James Meade.
If you use their Webshop, to buy something expect to have supply Credit Check details...
I purchased a couple of items from the Webshop and went to the Website Checkout and paid via PayPal. I was expecting an email saying Items Posted like I get from eBay. I received an email wanting my Birth Date and Drivers Licence or Passport Details for a Credit Check!!! Cash Converters already have your Name and Address for the postage of the items. I checked Paypal and they say the Transaction is complete. When I bounced Cash Converters request saying it would be a Debit Check, because they are the Creditors and hence for them to supply me th...eir Birth Dates and Drivers License details I got response saying I had to have my PayPal Account Verified and for me to forward them a copy of it??? The only benefit I can see to me of having a Verified Paypal Account is a higher withdrawal limit. The threat is that if I don't supply this information she will block the Delivery??? Their shops don't do the same when you walk in and buy an item. They don't hold the Goods, Take your Money and then want your Name, Address, Date of Birth, Drivers License or Pass Port Details and this is assuming that you've past their Minimum amount you have in your Wallet test - ignoring that you actually have paid the amount for the Items Purchased. I don't know if the person I am dealing with is on something or if it is just that Cash Converters are so warped that they think it is fine to check up on their Cashed up, Purchasing Customers. The person I'm dealing with uses the Title of Webshop Administrator so I guess she speaks for the Company and its procedures. Guess what I will think twice before using the Webshop again even if I do get the items I want and have paid for.
Complaint about refusal of pay day loan
They say I received an emergency payment but it was a crisis payment from centrelink for leaving a domestic violence situation. I would not have received this payment if I was not in a domestic violence situation. Seems unfair that I should be refused when I did not ask for the violence.
I've paid 2 loans of with Cashies in the past but been declined on a third application. This is wrong in my opinion. They are nothing but aholes.
To much hassle
I have had pay day loans in the past. Always repaid with no problem. Went to do a small one last week and apparently the whole process has changed. What used to take 20mins now takes an hour. Was made to feel like a criminal...did i remember what i i had spend $3 at the service station three months ago....what was the $20 transaction at Australia post three months ago
Too hard not worth the hassle. Won't be going back ever.
NOT WHAT I WAS TOLD I WAS BUYING!
I bought a phone which said a couple of light scratches but apart from that it was perfect. It also said that it came with a charger so I went and bought it. When I bought the phone this is what was actually wrong with the phone:
1. Camera DOES NOT work
2. Flash DOES NOT work
3. Touch ID DOES NOT work
4. Charger which came with the phone DOES NOT work
When I received my phone I was NOT happy as none of this was stated in the description when I bought the phone. NOT HAPPY!
They offer you nickels and dimes for expensive goods
Have sold a few things to them over the years and they offer you almost nothing, even for goods that are quite expensive. Try and sell everything you can via gumtree or eBay before you even consider selling to them, as you'll get almost nothing. Also saw some bikes outside stones corner shop, and they were asking over $1000 for a crappy bike that had dust and rust on it! They probably paid the person 50 bucks for it. What a scam.
Beware when getting a loan
I got a small cash loan from cash converters and payments were direct debited from my bank account. Payments were supposed to stop over two weeks ago but they are still taking money from my account. Rang them today (Thursday) was told the money most likely won't go back into my account until next week. Not good enough Cash Converters. Fair trading will be hearing about this. How many other people do they do this to?
I cant believe the non customer service so poor.
Purchased Gold and Diamond Jewellery. Was told could get ring resized when Jeweller back from holidays next week. The diamond ring was faulty took it back, told Jeweller not back maybe next week. Left ring 25 days later no call back from Cash Converters rang, left message for management, told Jewellery sale staff not in. No phone call. 5 calls, and rude staff later. still no ring then told 3 months before Jeweller back from holidays.. Told I could get money back. Don't bother the sales staff are liars, and management are uneducated and have ...no idea about cashed up customers, and treat everyone one like we need them. When you have a customer who has been buying from Cash converters online and in store weekly for the last year, and they don't recognize good customers, then they don't deserve your business.
Questions & Answers
Would cash converters buy my watch without receipt or box?
what can I get for a scooter
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