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MoneyMe Line of Credit

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Get fast access to funds of up to $10,000 with a Freestyle Virtual Credit Account from MoneyMe.

MoneyMe is an online Aussie lender committed to providing the fastest loans possible. Its rates and fees are determined on a risk-based basis, meaning people with good and excellent credit ratings are rewarded with lower costs.

MoneyMe's line of credit takes a technologically advanced approach to lending, as it comes in a virtual card located on your smartphone. So, you can qualify for a revolving line of credit from anywhere between $1,000 and $10,000 and access it instantly from your mobile device, from which you can tap and pay for purchases in-store and online. MoneyMe's Freestyle Virtual Credit Account also comes with up to 35 days interest free on purchases.

Find out more below.

From 16.99% (variable)

Interest Rate (p.a.)


Min Loan Amount


Product NameMoneyMe Freestyle The Virtual Credit Account
Interest Rate (p.a.)
From 16.99% (variable)
Interest Rate TypeVariable
Min Loan Amount$1,000
Max. Loan Amount$10,000

How does a line of credit from MoneyMe work?

MoneyMe's line of credit, or Freestyle Virtual Credit Account, is available for $1,000-$10,000 to eligible applicants and comes in the form of a revolving line of credit which is accessible instantly from your smartphone. This means that borrowers can pay for purchases directly from their accessible funds both online via Google Pay and Apple Pay and in-store using Tap n Pay. You can also transfer funds directly to your bank account. Transferring funds to your personal account can take as little as 1 hour for the major banks, and up to 1 business day for smaller banks. In addition to this, you'll soon be able to transfer funds directly to other people.

MoneyMe's line of credit also comes with up to 35 days interest free on purchases made with your virtual card, which is a bit like a regular credit card but it's accessible straight from your phone.

MoneyMe prides itself on providing some of the fastest forms of finance around. Applications are quick and straightforward, and if you're approved, you can access your funds instantly.

Features of a line of credit from MoneyMe

There are a number of features on offer with this loan product:

  • Loan amount. Depending on your credit history, you can get access to a maximum credit limit of $1,000 to $10,000.
  • Quick application. Borrowers can apply online in just 3-5 minutes.
  • Quick approval. MoneyMe's advanced technology means that eligible applicants can be approved instantly.
  • Virtual card. Shop instantly online via Apple Pay and Google Pay and in-store using Tap n Pay with your MoneyMe virtual card.
  • Quick access to funds. Once approved, borrowers can access funds straight from their mobile device in a matter of seconds. Please note that transferring funds to your account can take from seconds up to 1 business day, depending on your bank.
  • Interest-free terms. Get up to 35 days interest free on purchases made using your virtual credit account.
  • Revolving line of credit. As long as you repay your principal on your withdrawn credit, you can access this amount again.
  • Withdraw cash. You can withdraw cash from your line of credit. Minimum withdrawals are $100. There is no limit to the number of withdrawals you can make up to your credit limit.
  • Repayments. Your minimum repayment term will be set out for you in your loan contract. Minimum repayments cannot be reduced or extended.
  • Penalty-free additional repayments. If you want to make additional repayments or pay off your loan early, there's no penalty for doing so.
  • Easy communication. MoneyMe is available to contact online or by phone 7 days a week. Anyone struggling to make a repayment should contact the provider as soon as possible.
  • Member's area. Access all of your account information via the MoneyMe member's area.

How much does it cost?

There are a number of fees and costs involved in MoneyMe's line of credit loan:

  • Interest rate. An interest rate of between 16.99% p.a. and 25.99% p.a. will be applied to any outstanding balances. The rate that you will be allocated is based on your personal risk assessment and on the amount you borrow.
  • Monthly account keeping fee. An account keeping fee of $9 applies each month.
  • Annual fee. An applies to a MoneyMe line of credit and is dependent on your credit limit and risk profile.
  • Overdue account fee. If your account is not up to date by the end of the month, you will incur a fee of $15.

How to apply

If you're ready to apply for a MoneyMe line of credit, simply click "Go to site" to visit the lender's website and fill out its online application form. Before applying, please ensure that you meet the basic eligibility criteria. Applicants must be:

  • An Australian citizen/permanent resident
  • 18 years or over
  • Employed

Applicants must also provide:

  • Bank details for loan deposit
  • A valid mobile phone number and email address

Before applying for a personal line of credit, it's always a good idea to compare your options thoroughly. Comparing your loan options helps to ensure that you get the best possible deal for your circumstances.

Personal Loan Offers

Important Information*
Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.

Logo for NAB Personal Loan Unsecured Fixed
NAB Personal Loan Unsecured Fixed

You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.66% p.a. to 19.59% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.34% p.a. comparison rate) or less. See Comparison rate warning in (i) above. Application fee of $150 waived off.

Logo for SocietyOne Unsecured Personal Loan
SocietyOne Unsecured Personal Loan

You'll receive a fixed rate between 7.5% p.a. and 20.49% p.a. based on your risk profile
A loan from $10,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.

Logo for Pepper Money Unsecured Fixed Rate Personal Loan
Pepper Money Unsecured Fixed Rate Personal Loan

You'll receive a fixed rate between 7.95% p.a. and 16.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.

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