Wallet Wizard provides lines of credit up to $5,000 that are available with flexible eligibility requirements. While a lot of bad credit loans are available in the market, the different with Wallet Wizard's product is that it's a line of credit. When you apply you are approved for a total limit and then you get access to a certain amount through your balance. You can then apply to redraw or to top up your loan. The fee structure is straightforward and transparent and you only pay for the balance you use. Find out exactly how this loan works below to see if it is right for you.
Wallet Wizard Smart Loan
Wallet Wizard Smart Loan
From
47.8 %p.a.
fixed rate
Borrow from $500
Flexible eligibility criteria
Transparent rates and fees
100% confidential application
Wallet Wizard Smart Loan
The Wallet Wizard smart loan is a credit limit that lets you access up to $5,000.
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94
The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.
* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.
How do Wallet Wizard loans work?
Wallet Wizard loans are created with an eye on flexibility. The loan amounts vary from $500 to $5,000 and it is a continuous credit product – it does not close until you ask Wallet Wizard to close it.
When you apply you will receive a response a few minutes later, and if approved you will be offered a credit limit. This is the maximum level of credit it agrees to make available to you. To access your available credit you can login to the member's area.
Repayments are made weekly, fortnightly or monthly depending on the repayment schedule set out in your loan contract but you are able to redraw and apply for a top up through the member's area. Repayments are automatically direct debited from your account on these dates.
What features does Wallet Wizard offer?
Repayment flexibility. Repayments can be made weekly, fortnightly or monthly. Additionally, there is no early repayment penalty.
Various credit limits available. Apply for a credit limit between $500 to $5,000.
Top-up and redraw. You can login to the member's area to apply to add some extra funds to your credit limit or redraw on your available balance.
Bad credit and Centrelink considered. You can apply if you have bad credit, have been bankrupt or receive Centrelink payments.
Transparent fee structure. This loan comes with an interest rate of 47.8%. No ongoing fees apply to this product.
Quick approval. The approval process for these loans is quite fast due to the use of loan engine. This automated engine works out the exact loan you're eligible for and also sets out a repayment schedule. Once approved, the cash can be transferred into your account within 60 minutes if the contract is accepted before 2:30pm Sydney time. If not, it is transferred by the next business day.
How to apply for Wallet Wizard loan
This loan can be applied for conveniently online. Take a look at the eligibility criteria and required documents before starting your application:
You must be at least 18 years of age.
You are able to apply if you have poor credit
Required information
Bank details. Your BSB and account number are required to apply, or bank statements that cover the past 90 days.
Identification. Two identification records are needed. These can be your driver’s license, Medicare card or passport number.
Past records. Details of any credit contract you've repaid in the past 90 days are required.
General information. General information like your name, date of birth, address, and employment status should be provided.
Wallet Wizard can provide an attractive choice for anyone who wishes to get some quick cash for short duration, just ensure you compare your options before submitting an application so you get the right loan for you.
Frequently asked questions
Can I check on the progress of my application?
Yes, just login to the member's area of the Wallet Wizard site to see how your application is going.
How do I submit the required documents?
You're able to submit these documents electronically, but inputting your Internet banking details, or manually. Keep in mind that submitting them manually may mean your application takes longer to be processed.
I've been approved. When will I receive my loan?
This depends on when Wallet Wizard processes your application and transfers the cash. If you're approved before 2:30pm Sydney time, your loan will be sent on the same day. If it was approved afterward, it will be sent the following business day. Most major banks will process the funds in under an hour once sent, but others may take up to three hours.
How do I repay my loan?
Wallet Wizard will set up automatic direct debits to help ensure you make your repayments on time. The payment dates will be set out in your loan contract so you know when the money is due to come out. You'll also receive payment reminders via SMS and email three days before the repayments are due.
Can I apply for another loan?
Your able to apply for a loan top-up or to redraw additional funds from your approved credit limit by logging into the member's area.
Elizabeth Barry is Finder's global fintech editor. She has written about finance for over five years and has been featured in a range of publications and media including Seven News, the ABC, Mamamia, Dynamic Business and Financy. Elizabeth has a Bachelor of Communications and a Master of Creative Writing from the University of Technology Sydney. In 2017, she received the Highly Commended award for Best New Journalist at The Lizzies. Elizabeth has found writing about innovations in financial services to be her passion (which has surprised no one more than herself).
You still may be eligible for a loan if you receive Centrelink payments as part or even all of your income. These include loans from short-term lenders, banks and credit unions. Government and community financial assistance schemes are also available. For more information about loans for people on Centrelink, please click HERE.
Please send me a message if you need anything else. :)
Credit reporting agencies[?] keep a record of your bankruptcy for 5 years from the date you became bankrupt or 2 years from when your bankruptcy ends, whichever is later so you may have to wait 6 months to get approved for traditional loans.
You may be able to get a loan if you are a discharged bankrupt or even if you are currently bankrupt. Keep in mind you will be more limited in terms of the lenders you have to choose from and the fees and rates will also be considerably higher on bankrupt loans. You may also be required to attach an asset as security or apply with a guarantor. Find out about your loan options below and see what you might be eligible for if you click HERE.
This loan can be applied for conveniently online. Take a look at the eligibility criteria and required documents before starting your application:
– You must be at least 18 years of age.
– You are able to apply if you have poor credit
Required information
– Bank details. Your BSB and account number are required to apply, or bank statements that cover the past 90 days.
– Identification. Two identification records are needed. These can be your driver’s license, Medicare card or passport number.
– Past records. Details of any credit contract you’ve repaid in the past 90 days are required.
– General information. General information like your name, date of birth, address, and employment status should be provided.
Wallet Wizard can provide an attractive choice for anyone who wishes to get some quick cash for short duration, just ensure you compare your options before submitting an application so you get the right loan for you.
I would like to apply for a personal loan for 3000 to assist with costs of moving house and purchase a car as my car is on its last legs. Cost of getting the car fixed more than what the car is worth. How do I go about this
Thanks for reaching out to us. Please note that we are not affiliated with Wallet Wizard or any company we feature on our site and so we can only offer you general advice.
You can make use of the Personal Loan Repayment Calculator and also calculate how much you can borrow on this page. If you are referring to Wallet Wizard Personal Loans, please contact them directly to inquire. You may click on the green ‘Go to Site’ button above the page.
Hi, I’m just wondering if I could get $2000 to pay a few bills and move to a new home. I’m on Centrelink income and I do need help with some bill and moving expenses.
Thanks for reaching out to us. Please note that we are not affiliated with Wallet Wizard or any company we feature on our site and so we can only offer you general advice.
If you are referring to Wallet Wizard Personal Loans, you may click on the green ‘Go to Site’ button above the page to submit an online application through Wallet Wizard official site. You can also check this page to see and compare other options for you.
Unfortunately, we cannot recommend what is best for you. Our company finder.com.au is a financial comparison website and general information service designed to help consumers to make a better decision. Please note we do not represent any company we feature on our pages.
Should you need a list of providers for short term loan. You may want to consider this options.
– Option 1
– Option 2
Currently, the lenders that we have on our website are open for the Australian residents and citizens. You may instead check your local news paper as well as online for the available lenders that are available to help from your country. Please make sure to check their requirements before sending your application or you may also give them a call for your convenience.
If you are a new employee, you can check your loan options here. The required minimum time you should be employed may vary among lenders.
Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
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Please read our website terms of use for more information about our services and our approach to privacy.
Do you really need a loan today?*
I am on centerlink payments i need to borrow 600 can you help me
Hi Judy,
Thanks for leaving a question on finder.
You still may be eligible for a loan if you receive Centrelink payments as part or even all of your income. These include loans from short-term lenders, banks and credit unions. Government and community financial assistance schemes are also available. For more information about loans for people on Centrelink, please click HERE.
Please send me a message if you need anything else. :)
Cheers,
Joel
i have been out of bankruptcy for 18 months, have no debts and have checked on credit with government agency.
i would like a loan of $5000 but cant get one from traditional lenders.
Can you help with this
Hi Allan,
Thanks for leaving a question on finder.
Credit reporting agencies[?] keep a record of your bankruptcy for 5 years from the date you became bankrupt or 2 years from when your bankruptcy ends, whichever is later so you may have to wait 6 months to get approved for traditional loans.
You may be able to get a loan if you are a discharged bankrupt or even if you are currently bankrupt. Keep in mind you will be more limited in terms of the lenders you have to choose from and the fees and rates will also be considerably higher on bankrupt loans. You may also be required to attach an asset as security or apply with a guarantor. Find out about your loan options below and see what you might be eligible for if you click HERE.
Cheers,
Joel
Hi I just wanted to enquire about personal loans and situation requirements ect as I have never had to take out a loan before
Hi Van,
Thanks for leaving a question on finder.
This loan can be applied for conveniently online. Take a look at the eligibility criteria and required documents before starting your application:
– You must be at least 18 years of age.
– You are able to apply if you have poor credit
Required information
– Bank details. Your BSB and account number are required to apply, or bank statements that cover the past 90 days.
– Identification. Two identification records are needed. These can be your driver’s license, Medicare card or passport number.
– Past records. Details of any credit contract you’ve repaid in the past 90 days are required.
– General information. General information like your name, date of birth, address, and employment status should be provided.
Wallet Wizard can provide an attractive choice for anyone who wishes to get some quick cash for short duration, just ensure you compare your options before submitting an application so you get the right loan for you.
Cheers,
Joel
I would like to apply for a personal loan for 3000 to assist with costs of moving house and purchase a car as my car is on its last legs. Cost of getting the car fixed more than what the car is worth. How do I go about this
Hello Lee,
You can apply for the Wallet Wizard Loan conveniently online.
To apply, please click on this link
Cheers,
Gru
Hi, I was wondering if I got approved for a $5000 loan. What would be the repayment costs per month, please?
Hi Naomi,
Thanks for reaching out to us. Please note that we are not affiliated with Wallet Wizard or any company we feature on our site and so we can only offer you general advice.
You can make use of the Personal Loan Repayment Calculator and also calculate how much you can borrow on this page. If you are referring to Wallet Wizard Personal Loans, please contact them directly to inquire. You may click on the green ‘Go to Site’ button above the page.
Cheers,
Rench
Hi, I’m just wondering if I could get $2000 to pay a few bills and move to a new home. I’m on Centrelink income and I do need help with some bill and moving expenses.
Thank you,
Sharon
Hi Sharon,
Thanks for reaching out to us. Please note that we are not affiliated with Wallet Wizard or any company we feature on our site and so we can only offer you general advice.
If you are referring to Wallet Wizard Personal Loans, you may click on the green ‘Go to Site’ button above the page to submit an online application through Wallet Wizard official site. You can also check this page to see and compare other options for you.
Hope this information helped.
Best regards,
Rench
The best loan option?
Hi Muratmelek,
Thank you for your inquiry.
Unfortunately, we cannot recommend what is best for you. Our company finder.com.au is a financial comparison website and general information service designed to help consumers to make a better decision. Please note we do not represent any company we feature on our pages.
Should you need a list of providers for short term loan. You may want to consider this options.
– Option 1
– Option 2
I hope this information has helped.
Cheers,
Harold
Hi my name is Nicole in search of a good loan place in Canada I see a lot of loan places for Australia when I typed in Canada
Could you help me find one with no credit and unemployed
Hi Nicole,
Thanks for your inquiry.
To know your options please click here, here and here
Hope this information helped.
Cheers,
Arnold
Can I apply for a loan from a different country?
Hello Davia.
Thanks for your question.
Currently, the lenders that we have on our website are open for the Australian residents and citizens. You may instead check your local news paper as well as online for the available lenders that are available to help from your country. Please make sure to check their requirements before sending your application or you may also give them a call for your convenience.
Regards,
Chester
Can in get a loan if I started a new job only 3 weeks ago
Hi Dave,
Thanks for your question.
If you are a new employee, you can check your loan options here. The required minimum time you should be employed may vary among lenders.
Please make sure that you’ve read the relevant T&Cs or PDS of the loan products before making a decision and consider whether the product is right for you.
Cheers,
Anndy