Cheap credit card

Trying to find a cheap credit card that will see you through until your pay comes in could become a thing of past, now that Wonga is here. It's the new alternative to credit cards, which could save you money in the long run.

If you've been using credit cards as a solution for quick cash and have been lured into "no interest, no charges" offers that sound too good to be true (and usually are), there's a new way to borrow money which could change the way you use credit cards.

What is Wonga? A cheap credit card?

If you find yourself needing extra cash to see you through to pay day, Wonga could be a better alternative to a credit card. It's not a credit card though. It's basically a fast payday loan that you apply for online and can receive in an hour. Put simply, the interest rate is £1 per £100 per day. You use select how much you would like to borrow and the date you promise to pay it back and Wonga calculates exactly how much the repayment will be before you apply.

Credit cards can be handy for the end of the month expenses you didn't budget for, but if you take ages to pay them off or miss minimum repayments they can get very expensive and trap you in a cycle of debt. Why have that constant expense in your pocket when you can easily and quickly get a Wonga loan and repay it within a month?

Wonga: the fast, easy alternative to cheap credit cards!

As the fastest loan service in the UK, it's much quicker to apply for and receive a Wonga loan than a new credit card. You could receive your loan in less than an hour if you apply before 3pm on a weekday! Wonga gives you more control than a credit card too. You only borrow the money you need, without having the constant temptation to spend more on a card.