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Wallet Wizard Personal Loans

WalletWizard is a part of Credit Corp Financial Services, an Australian financial services business operating in the credit-impaired consumer segment. WalletWizard offers short-term ‘Smart Loans’ to borrowers across Australia. Customers must apply for smart loans through an online application, as WalletWizard does not operate bank branches.

WalletWizard also offers a prepaid card, which allows customers to more easily access their approved funds.

Wallet Wizard personal loan repayment calculator

Thinking about taking out a personal loan with Wallet Wizard? Use our personal loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Wallet Wizard personal loans compare with other options.

Wallet Wizard Personal Loans rates

Features of a WalletWizard personal loan

WalletWizard calls their personal loans ‘Smart Loans,’ but they operate much the same as any other microloan. Like other short-term loans, ‘Smart Loans’ offer a high-cost, quick fix borrowing solution.

Unlike some payday loan providers, WalletWizard does not charge establishment, ongoing, or service fees. Instead of charging high fees, WalletWizard earns money by charging high interest rates.

WalletWizard offers loan terms of up to 2 years, and allows redraws and additional repayments. Borrowers can use WalletWizard ‘Smart Loans’ for a variety of circumstances, such as buying a new car, paying medical bills, or covering unexpected expenses.

WalletWizard personal loans – customer service

WalletWizard does not operate bank branches, so customer service must be accessed over the phone or by email. Customers can contact WalletWizard customer service 24 hours a day, 7 days a week.

Applying and Eligibility

Who is eligible for a WalletWizard personal loan?

  • Over the age of 18
  • Australian citizen or Australian permanent resident

How to apply for a WalletWizard personal loan?

  • Choose your credit limit and loan term
  • Complete the online application form
  • Provide contact details and identification
  • Submit your application and wait for a response

WalletWizard personal loan review

Short-term loans, sometimes called cash loans or quick loans, are a high-cost borrowing option. Because their fees and interest rates tend to be very high, borrowers should be wary. Using short term payday loans could put borrowers at risk of a troublesome ongoing borrowing cycle that is difficult to overcome.

WalletWizard personal loans, called ‘Smart Loans,’ do not charge establishment or monthly fees, but do charge a high interest rate. This interest rate is much higher than those of standard personal loans. Because customers will pay more interest the longer their term, the overall cost goes up with the loan term.

Although WalletWizard performs a credit check on applicants, bad credit borrowers may still be approved. WalletWizard serves a variety of customers, but customers should be comfortable with their loan and customer service operating entirely online.

FAQs

Many lenders offer online applications for personal loans, which can be convenient for borrowers who don’t have a lot of free time. If you’re not confident your personal loan application will be approved, you may want to consider contacting the lender by email, live chat, phone, or by visiting a branch, to discuss your situation before applying.

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^Words such as "top", "best", "cheapest" or "lowest" are not a recommendation or rating of products. This page compares a range of products from selected providers and not all products or providers are included in the comparison. There is no such thing as a 'one- size-fits-all' financial product. The best loan, credit card, superannuation account or bank account for you might not be the best choice for someone else. Before selecting any financial product you should read the fine print carefully, including the product disclosure statement, fact sheet or terms and conditions document and obtain professional financial advice on whether a product is right for you and your finances.

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