Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Wonga is changing

Over the last few months, we’ve introduced lots of changes at Wonga to make sure we offer better, fairer loans to customers. We take a responsible approach and lend only to those we believe can reasonably afford to repay. Read on to find out more about how we’re responding to some of the common perceptions surrounding our brand.

You lend to anyone regardless of their situation, don’t you?

We don’t. In fact we only lend to people who we believe can afford it.

It’s a popular perception that we lend to just anyone. We don’t. In the real world we understand that giving credit is not always the right answer. Since introducing tougher new lending criteria we now turn down more than eight out of ten new applicants. (Source: Wonga data as at 12th May 2015)

Representative 1,445.3% APR

You keep charges hidden, don’t you?

We don't. In fact all costs are now shown upfront.

It’s a popular perception that we make money from all sorts of hidden charges. We don’t. In the real world we understand people want to borrow from a responsible company who’ll be honest with them about the total cost of a loan. That’s why we now show all our costs up front, including the costs if things go wrong.

Representative 1,445.3% APR

You sting people with a fee if they miss their payment date, don’t you?

We don’t. In fact we now give 3 days’ grace before applying a missed payment fee.

It’s a popular perception that we hit people with all sorts of charges. We don’t. In the real world we understand that sometimes unforeseen events can make it hard to stick to a plan. That’s why we now wait until 11pm on the third day after the scheduled repayment date before applying a £15 missed payment fee.

Representative 1,445.3% APR