The Wonga forum has kicked off to a great start with lots of user activity in the one month since going live. Having recently surpassed 500 registered users, we are very pleased with its steady growth and usage.
When blogs or newspapers cover Wonga, or someone spots our TV ad for the first time and tweets about it, it’s rare that our typical APR doesn’t get mentioned. Indeed, it’s often the main talking point and people who don’t understand how the equation works (which is most of us), can leap to some scary conclusions. After all, we’re trained to compare APR when assessing the value of credit, yet there are two major problems with using APR to gauge the cost of ultra short term loans.
Wonga’s flexible loans and sophisticated risk and decision technology had us in the spotlight once again. We were recently included in the Smarta 100, a list of the most exciting, promising and disruptive businesses in the UK as selected by a handful of top entrepreneurs.
