Once you become a Wonga customer, your trust rating determines how much cash you could apply for if you ever wanted to use our service again in the future. It's not a public number or position in a league table, but rather our current view of how much money we are prepared to let you apply for.
In line with our commitment to responsible lending, if you've never used our service before the most we'll offer you is £400. This maximum amount can gradually increase up to £1000 if you continue to use Wonga responsibly and repay our trust in you over a significant period of time. Unlike traditional lenders, our trust rating system is not designed to let you rapidly increase the amount of money you can borrow, or automatically mean you can apply for more based on timely repayment of a previous loan.
We take thousands of factors into consideration so, for this reason and your security, our customer care team don't have access to the details of these decisions and won't be able to explain why any changes to your trust rating have occurred.
We carefully assess every application we receive on an individual basis and our automated system uses objective data to assess the suitability of any loan you apply for. So if our technology identifies any concerns about your previous use of our service, or your overall financial health, we may also freeze or reduce your trust rating and therefore the amount of cash you can apply for. In some cases, we may even decline an application altogether, because we only want to help you if we believe you can comfortably afford the loan you request.
The amount available for you to apply for at any particular time will be shown by the cash amount slider whenever you login to your ‘my account’ section on our website.
Please note even though we apply our own trust rating to your account we also share data with credit reference agencies and use this to further assist our decision making.
You can control how much you want to borrow using the sliders. We let you decide exactly how much cash you want to borrow and for how many days and we show the full costs upfront before you apply.
In return for this flexibility we expect you to repay your loan on the date you promise. We love to help people who use the service responsibly and we provide your own trust rating to reflect your individual circumstances and behaviour. It will be reviewed every time you repay or apply for loan and can go up, down or remain the same.
We consider lots of factors and our system uses complex calculations to calculate your rating, but it's been designed to reward sensible use of the service in a very simple way – by giving you even more flexibility.