Do I qualify?

At Save My Bacon, we understand how important your time is so we are committed to transparency and exposing the inner workings of the lending world. When you apply, you deserve to know exactly what goes into our decision.

So, here they are!

• You need to be a New Zealand citizen or permanent resident.
• You need to be at least 18 years of age.
• You need an active bank account (for at least one pay cycle).
• You need to be receiving a regular and consistent income that is electronically transferred into your bank account on a regular basis. Your net income needs to meet the minimum requirement of $400 per week.
• You need a valid email account.
• You need an active mobile phone.
• You need verifiable identification.

Our minimum credit requirements

Nearly all lenders base their decision to lend and the price at which they lend on a combination of the credit report produced by a credit-reporting company or agency (also known as a credit bureau) and your credit score.

We are different to most lenders as we go the whole hog, carrying out a comprehensive review and assessment of your full financial profile and looking beyond your credit score. This means that a lower credit score and/or limited credit history won’t necessarily prevent financially responsible applicants from taking out a Save My Bacon loan.

Here are clear and simple explanations of the factors considered in your application:

• You generally spend less than you earn and have increasing bank account balances.
• You have enough cash surplus to cover your normal expenses, including mortgage/rent/board, food, utility bills, medical expenses and transport after making any debt repayments, including this loan.
• You do not carry large amounts of debt (e.g. credit cards, personal loans or other short-term loans).
• You have a history of making payments on time.
• You are not regularly charged late, overdraft, or insufficient-funds related fees.
• You have sufficient credit history to produce a credit score.
• You do not have on your report any accounts that are currently in collections or delinquent, have amounts that are currently past due or have accounts that, in the last two years, have been moved to collections.
• You are not bankrupt.