This Wonga review will reveal whether you should or should not take out a short term, or payday, loan with Wonga.
Well I can tell you from the outset that there is no need to avoid taking out a loan with Wonga. They are a legitimate and reputable short-term loan lender that operate in the UK. So if you have already made up your mind about using them, then go ahead, there is no need to worry.
Wonga have a very secure website and have an up-to-date security certificate. This can be seen on their website when starting the application process. They are also licensed to carry out money lending in the UK by the Office of Fair Trading and have their Consumer Credit Licence number on their website too.
Wonga have recently relaxed the criteria required to get a short-term loan (summer of 2010). It's not that they ask any less of you as the way that they make a lending decision is based on an automated process that gives you a credit score. They have simply lowered the score you need to obtain to be able to get a loan.
So if in the past you did not manange to get a loan with them but you would like to use their service, then please go ahead and try again.
And I would recommend using their services. Once you have an account with Wonga and have some borrowing history with them then you'll see what a convenient service they provide. They are short-term lenders and NOT brokers so you cut out any delays in processing time and they say on their website that the cash loan can be in your account within 2 hours of been approved by them. This is really fast and great news for those of you that are looking for a solution to your immediate cash needs.
One massive advantage of using Wonga over other short-term lenders is that you can actually determine the number of days that you want to borrow the loan for. From 1 day to 30 days. This really is welcome news as it can massively reduce the cost of a short-term loan.
To give you an example, when you borrow
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