An unsecured loan isn’t always as simple as it might appear. Financial advice site Myfinances.co.uk recently highlighted the risk of an unsecured loan without a fixed interest rate. Despite the UK base rate being at a record low, the cost of many unsecured personal loans has been rising according to another consumer money site, Moneyfacts.co.uk.
OK, so size isn’t everything, but everyone at Wonga is buzzing because we’re now the second biggest business lending team on Kiva – one place above the mighty Microsoft.
SmallBizPod, a podcast, blog, news and community site for small businesses, start-ups and entrepreneurs, has written a piece about Wonga and our sophisticated decision-making system. Read the blog, or here’s a brief extract:
An interesting piece of research from the Information Commissioner’s Office (ICO) today. It reports on consumers’ less than flattering views of small print – the dreaded, often meaningless drivel that so often accompanies services, particularly financial ones.
Wonga made it onto the silver screen this week, well, the nation’s laptop screens and PC monitors anyway! Around ten brave (or was it fame seeking?!) customers came to our London offices just before Christmas to rave about our instant loans online.
In another classic example of the big banks being about as transparent as a swimming pool full of mud, Barclaycard has today announced a ‘major’ interest rate cut for its credit card customers… Only snag is that the interest cut applies to just a quarter of Barclaycard customers.
