Are Wonga Loans Good Payday Lenders?

A payday loan has many advantages and disadvantages. Consumers must weigh both sides, and then they can decide of a wonga.com payday loan is the right decision to make. In order to obtain a payday loan, you must be at least 18 years old, have a valid checking account, and be able to prove that you have income on a daily basis. If you meet these qualifications, you can then apply for a loan.

One of the primary advantages of the Wonga payday loan is that you can get the money that you need very quickly. In most cases, the money can be applied directly to your account in under five hours. Almost everyone will be able to get £400 once approved. The site is very easy to use, and the site has a 97 percent simplicity rate. The Wonga site also details exactly how much money you can get, and how much money you want to get. All that you need to do is move the slider on the screen. Once you do this, you will see how much interest you will pay for the loan. The great thing about this is that you have an immediate answer to the total cost of the loan. Wonga really took the time to provide very detailed and accurate information to potential customers very quickly. If you are approved for the loan, you can use the money to pay your bills or really do anything you want with the money. The site details the loan repayment schedule, and you will have 30 days to repay your loan in full.

The main disadvantage of the Wonga payday loans is that you cannot get more than £400 really fast. These payday loans will not be for everyone, but Wonga does provide a means to get some money fast. The other big drawback to these loans is that you have to set up a date of repayment. Once you acquire the loan, you will have to give Wonga the specific date that you want them to directly pull your repayment amount from your account. Some customers do not like giving companies the ability to take money from their account, and this is one of the primary complaints with Wonga and some other payday loan companies.

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