With Approved Credit (WAC) in Australia: What It Means and Why It Matters

Ever spotted the phrase ‘With Approved Credit’—or WAC—tucked into the details of a car ad, a furniture sale, or a zero-interest finance offer? While it might seem like legal filler, WAC can make or break your deal. In 2025, as Australian lenders tighten standards and consumers chase better deals, understanding WAC is more important than ever.

What Does ‘With Approved Credit’ (WAC) Really Mean?

‘With Approved Credit’ is a disclaimer that lenders and retailers use to indicate that advertised rates, deals, or terms are only available to customers who pass their credit assessment. In plain English: not everyone will qualify for the headline offer. WAC puts the onus on you to prove your creditworthiness before you get the green light on that enticing finance deal.

In Australia, WAC pops up in various contexts, such as:

• Car dealerships: 0% finance offers ‘with approved credit’
• Electronics and furniture retailers: ‘Buy now, pay later’ deals subject to WAC
• Personal loans and credit cards: Advertised rates only for those who meet credit criteria

From 2025, with new responsible lending obligations and more granular credit reporting, lenders have even more tools to assess your risk profile—making WAC a dynamic and sometimes unpredictable hurdle.

How WAC Impacts Your Finance Options in 2025

Australia’s credit landscape has evolved dramatically. The expansion of Comprehensive Credit Reporting (CCR) and updated ASIC guidance have forced lenders to take a closer look at your financial behaviour, not just your credit score. Here’s what that means for deals marked ‘With Approved Credit’:

• More detailed checks: Lenders now review your repayment history, credit limits, and even BNPL activity, not just defaults.
• Variable eligibility: Two applicants for the same product may receive vastly different rates or be declined altogether, depending on their credit profile.
• Dynamic offers: ‘Headline’ rates are now more often reserved for ‘prime’ customers—think high credit scores, stable income, and minimal debt. Others may face higher rates or shorter terms.

For example, a car dealership’s 1.9% finance offer with WAC might only be available if you have a credit score above 800, a clean repayment history, and no recent credit inquiries. If you’re borderline, you might be offered finance at 6.5%—or rejected outright.

How to Improve Your Chances of WAC Approval

If you want the best possible deal, preparation is key. Here’s how to boost your odds of clearing the WAC hurdle in 2025:

• Check your credit file: Obtain your free credit report from Equifax, Experian, or illion. Look for errors or outdated information that could drag your score down.
• Reduce existing debt: Pay down credit cards and personal loans, especially in the months leading up to your application.
• Avoid multiple applications: Each credit check can impact your score. Shop around using comparison tools, but only apply when you’re ready to commit.
• Stabilise your income: Lenders look for steady, predictable earnings. Avoid changing jobs or industries before a major application.

And always read the fine print: ‘With Approved Credit’ isn’t a guarantee—it’s an invitation to prove yourself. Make sure you know exactly what’s required before you get your hopes up (or hand over a deposit).

The Bottom Line: WAC Is More Than Just Small Print

In 2025, ‘With Approved Credit’ is more than a technicality—it’s a filter that determines who gets access to the best finance deals in Australia. As lenders rely on richer data and stricter criteria, being proactive about your credit health is essential. Don’t let WAC catch you off guard: treat it as a prompt to double-check your eligibility and negotiate the terms you deserve.