Our commitment to responsible lending

We have no interest (no pun intended) in keeping you in debt. Now that may sound like a strange statement for any lender to make, but Wonga provides short term loans for up to 30 days. We want you to repay your loan quickly and, unlike many traditional sources of credit, we're not about keeping payments coming in for as long as possible. Our service is designed to put you in control of your cashflow, for those times when an unexpected expense catches you by surprise.

Flexible loan

Unlike most lenders, we enable you to choose exactly how much money you want to borrow - down to the last pound - and for exactly how many days. We don't force you to borrow a fixed sum you might not need, nor do you accrue interest for longer than necessary. The amount you apply for and the length of the loan naturally affect the cost of repayment too, so you can make adjustments until you're happy with all elements of your application.

Short-term cash

In contrast to a credit card or overdraft, you must commit to settling your Wonga loan quickly. You can then use our service again next time you need short-term cash on demand. We make money when you repay us on time, not by continually extending a growing line of credit to you. Wonga doesn't endlessly roll your balance from month to month and no further funds are made available until your existing loan is repaid.

Transparent service

We calculate the total amount repayable upfront, showing you the figures clearly before you apply. We include the interest and the full cost to ensure it's crystal clear, plus we never change the rate we charge. The only way costs can increase is if you fail to honour the agreement.

Credit check

Wonga is not a typical internet lender because there's no need to fax documents or hang about on the phone. Application and payment is entirely online because we have a sophisticated credit reference system. Our technology enables us to assess applications in seconds and helps to ensure we only lend to people whom we believe are able to repay us - we simply aren't interested in lending to anyone who isn't. Because we carry out a credit check as part of the application process, you'll also improve your credit history every time you repay an online cash advance from Wonga. That's because we inform our credit bureau partner of your trustworthy behaviour with each and every repayment.

Trust

We place emphasis on building a responsible and trusting relationship with you. So unlike some websites, we won't wave silly amounts of cash in your face to gain your custom. First-time visitors can initially apply for up to £200 and, after repaying your first loan, we'll gradually start to increase your Wonga trust rating.

As you repay our trust, you'll enjoy improved flexibility to apply for more in the future if need be. Your maxiumum credit limit at any one time is determined by lots of different factors we take into acccount and you'll see the cash amount slider change accordingly when you log in.

Guidance

Our website provides a financial service plus some clear guidance about using it responsibly. We urge you to think carefully before applying for a Wonga loan, because we expect it to be repaid when you promise to. We describe the potential consequences of failing to do so (How to Wonga or FAQs), plus offer tips for anyone already struggling with debt (including useful links to organisations like the Citizens Advice Bureau).

FLA

Wonga is a member of the Finance and Leasing Association (FLA) and we abide by its Lending Code. Should any customer make a complaint about our service, we will endeavour to resolve it within 48 hours, but if the complainant is not satisfied they can contact the FLA and request a conciliation procedure.

Interest rate

Wonga is not the cheapest way to borrow money (we charge 1% interest per day plus a £5.50 transmisssion fee) but we are the fastest, most convenient and most flexible lender in the UK. It's a bit like using a taxi to get around - it's not economical if you use one too frequently, but paying a premium for speed, convenience and security makes perfect sense from time to time.

Are you committed to responsible borrowing?

Applying for any form of credit isn't a decision to be taken lightly. Please remember that if your Wonga application is approved, it becomes a two-way street and you'll need to keep a serious promise. We want our relationship to be a happy and trusting one, so we lay out the facts as clearly as possible. Only you can decide whether to apply or not, however, so please only do so if you're confident you'll have the funds to comfortably make repayment on your chosen date.