Activating Safetynet only takes a few minutes. We do a quick check of your credit score, then let you know how much money you can borrow. No application forms are needed.
Once activated, funds appear in your RentPay wallet and are immediately available for your rent payment. You’ll then pay it back over the next 8 weeks (or sooner if you want).
Safetynet comes bundled with our Scorebuilder feature, which has a set-up cost of $3 and then a flat monthly fee of $1 to stay subscribed to the Scorebuilder service.
If you activate Safetynet (to borrow your rent amount) there’s a weekly Safetynet fee of $2 which will be charged for up to 8 weeks while you pay it back.
You need to have been a RentPay customer for at least 30 days. And, as Safetynet is a loan, you must be over 18 years of age to apply. We’ll also look at a few things such as your credit score to determine how much you will have available for borrowing. For more information, refer to the RentPay Product Disclosure Statement.
Safetynet is a short-term line of credit to cover your rent if you’re not able to or need your rent money for something else. If you activate and use Safetynet, the funds will be paid into your RentPay wallet, and then used to make your scheduled rental payment on your behalf. You will then need to pay it back over the next 4 fortnights.
Safetynet is a credit facility provided in partnership with One Card Credit Pty Ltd (Australian Credit Licence (ACL) number 388941). You may see One Card Credit appear on your credit report or your bank statement if you use Safetynet.
To view the terms and conditions for Safetynet, visit https://www.rentpay.com.au/scorebuilder-and-safetynet-terms-and-conditions/
To use Safetynet you must first activate your RentPay account, and opt-in for the Scorebuilder feature via the RentPay dashboard. Then, select Safetynet from your dashboard. You must be opted-in to Scorebuilder for 30 days before you can access Safetynet.
Safetynet comes bundled with Scorebuilder, which has an activation fee of $3 and a monthly fee of $1. Once you decide that you want to access Safetynet funds to pay your rent, there is a $4 fee charged each fortnight while you’re paying it back. So if you pay it back over 4 fortnights, which is the maximum term, you’ll pay $16 in fees. There is no interest charged on Safetynet. If you repay the Safetynet sooner, you’ll pay less fees.
The maximum amount you can borrow is the amount of one week’s rental payment. When you activate Safetynet, we’ll do a quick check of your credit score and then let you know the amount you can borrow.
We’ll be able to let you know almost instantly how much you have available to borrow, and can pay the funds into your wallet as soon as you agree to proceed. There’s no application form or waiting around.
Safetynet repayments will be debited from the nominated account that you provide when setting up RentPay. Your repayments will be debited by One Card Credit with the narration “One Card Credit (RentPay)” appearing on your statement.
Those repayments will be debited from your account fortnightly, starting two weeks from when you draw on your Safetynet loan.
Yes, absolutely! There are no penalties or charges for paying your loan out early. You can do this through the RentPay dashboard, by contacting us on 1300 776 856 or by emailing [email protected] to request a payout figure.
If your circumstances unexpectedly change, we understand you may want to change your repayments. If this happens, please contact us as soon as possible via phone on 1300 776 856 or email us at [email protected].
The quicker you let us know, the faster we can discuss your alternative payment options and help you get back on track
We simply ask that you contact us as soon as possible. By letting us know your situation, we’ll be able to discuss alternative options with you.
There’s no hard credit check for Scorebuilder and Safetynet, however, a soft check of your credit score will be completed. This doesn’t leave a record on your credit report.
If you default on your Safetynet repayments, a record of your default may be recorded on your credit report. You will see “One Card Credit (RentPay)” as the narration.