Wallet Wizard offers short-term personal loans between $500 and $5,000 to borrowers in Australia. The company belongs to the ASX-listed Credit Corp Financial Services, which is an innovative lender for credit-impaired consumers.
In this review, we’ll go into the details of how Wallet Wizard works, along with its pros and cons, and everything else you should know before applying for loans from them.
Wallet Wizard operates online. You don’t need to visit their office, and all the necessary steps to secure a loan can be accomplished on their website.
The website is based on the concept of payday loans. These are short-term loans. Before you receive the loan, you’ll need to go through a quick application process. After that, you receive money on your bank account and repay the loan based on a predefined plan.
Since the loans range in size (between $500 and $5,000), the amount of interest borrowers have to pay will also vary. For exact numbers, you’ll need to contact the company directly.
There are numerous similar online lenders. What makes Wallet Wizard better than the rest of the competition? Here are the main things you should know about this service:
During our research, we’ve found that Wallet Wizard has the following benefits. The first one is that it’s accessible. Applications are accepted 24 hours a day, 7 days a week. Whenever you need money, you can get it.
There are a few requirements and not much paperwork. You simply need to submit all the information online, which is significantly more convenient than any traditional loan. Since you don’t need to run doing paperwork, you get the money practically instantly.
Luckily for users, WalletWizard doesn’t have ridiculous charges for its services. The application fee is 15% of the amount you borrow. The monthly account fee is 2%. There are no other expenses: you don’t have to pay for printed and reprinted statements, and you aren’t charged for late payments.
The most important thing people can do is take measures against fraudulent, deceptive, and unfair businesses. Look at online reviews, evaluate all the pros and cons, and never rush your decisions.
As for Wallet Wizard, it seems to have a good reputation, but there are still some concerns. These loans aren’t free. Take into account the interest rates to see whether you can pay them off. What you can do to minimize this issue is to try to limit the amount you’re borrowing.
Also, personal loans don’t help you build credit. They are still useful for other purposes, but normally, they aren’t reported to the credit bureaus. Lastly, be careful not to get caught in a debt cycle.
Unlike tedious, time-consuming bank applications, Wallet Wizard makes it easy for any user. Here what the process entails:
Let us explain some things about the first step. In order to get approved, you’ll need to submit your personal information correctly. There is no need to worry about its safety – the website has robust cybersecurity policies. The details you’ll need to provide include:
|Name, date of birth, |
and contact details
|Details for online banking|
|Employment info||Financial statements and liabilities|
|Two documents like |
driver’s license or Medicare card
|Bank State Branch (BSB) number|
|Repaid credit |
Your online application will be approved only if you meet the following criteria:
Overall, Wallet Wizard can be recommended for those struggling with their finances for several reasons. It’s simple and fuss-free – the entire process takes about an hour. In comparison to other companies, they have more generous and sustainable repayment terms. And lastly, they receive great reviews from thousands of Aussies.
To maximize the benefit from short-term loans, you need to be reasonable. Remember that an ongoing cycle of debt that is difficult to overcome. You can prevent this from happening by taking out a reasonable amount and paying it off in time. Then, you will make sure that WalletWizard truly helps you in whatever situation you find yourself.