Wallet Wizard Smart Loan Review

Apply for any amount between $500 and $5,000 and access your funds as a flexible line of credit. Bad credit and Centrelink considered.

If you're looking for a flexible way to access funds, consider Wallet Wizard's Smart Loan. It works like a line of credit, letting you access between $500 and $5,000 which you can use for whatever you need. Whenever you need to access your available credit, just login to the member's area to see if you're eligible to access your cash and even top up the amount.

Product NameWallet Wizard Smart Loan
Term of LoanUp to 2 years
Min Loan Amount$500
Max. Loan Amount$5,000
Interest Rate (p.a.)From 47.8% (fixed)
Arrears Fee$10
Turnaround Time24 hours
RequirementsYou must be an Australian citizen over the age 18 and have a steady income.
Application Fee$0

How does a Smart Loan from Wallet Wizard work?

After you apply online you can find out if you've been approved quickly, usually within a few minutes. You can login to the member's area to check on the progress of your application. If you're approved you'll receive access to your credit limit usually within three hours. Once you start using your balance you'll notice your "available credit", which is the difference between your credit limit and the current account balance. The balance is what you owe Wallet Wizard.

Your repayments vary depending on the balance of your account, but you'll receive a reminder of your repayment three days before your repayments will be automatically direct debited from your account. You'll also receive a detailed statement and cost outline in your contract.

This is a continuing credit contract so unless you request to close the account it will remain open.

Features of a Wallet Wizard Smart Loan

While the Wallet Wizard Smart Loan comes with a number of features:

  • Repayments. You can make additional repayments at any time and you'll receive reminders via SMS and email three days before your repayments are due.
  • Automatic payments. You won't have to remember making repayments each time they are due, as they are debited from a nominated bank account automatically on your scheduled due dates.
  • Transparent interest rate. Wallet Wizard is transparent with its rates – you will be charged an interest rate of 47.8% p.a.
  • Apply for redraws and to top-up your loan. If you'd like to access more of your available credit limit or increase that amount, you can login to the online member's area at any time to do this.
  • Speedy approvals. The online application does not take long to complete, and once you provide all the required information, Wallet Wizard’s loan engine goes through your credentials, works out a suitable loan amount, and presents you with a repayment plan. Unless Wallet Wizard requires additional information, you can expect an answer in minutes.
  • Prepaid card. Access your approved funds more easily with the Wallet Wizard Visa Card. Once you're approved for and have made repayments on your Smart Loan you can order your card through the member's area.
  • Service fee. You'll be charged an ongoing fee that is based on how often you make repayments. You can check your statement to see the minimum repayment that is due.

How to apply with Wallet Wizard

To apply for a Wallet Wizard Smart Loan you have to submit an online application. Bear in mind you have to meet the following eligibility criteria to apply:

  • You are a permanent resident of Australia
  • You are over 18 years old
  • You can apply if you receive Centrelink payments
  • You can apply if you are a current or discharged bankrupt

To complete the application, you have to part with different kinds of information, which includes the following:

  • Your complete name, residential address, phone number, and date of birth
  • Details of your Australian passport, driver’s license, or Medicare card (any two)
  • Employment details
  • Financial details

The Wallet Wizard Smart Loan can address your need for quick access to funds, but take into account this is not the only loan of its kind, so it’s in your best interest to compare a few before applying.

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127 Responses to Wallet Wizard Smart Loan Review

  1. Staff
    Anndy | May 3, 2017

    Hi Col,

    Thanks for your question.

    If you already have an account with Wallet Wizard, you can easily check the total amount available to you for redraw when you log in to your Wallet Wizard account online.


  2. Default Gravatar
    Col | May 2, 2017

    When applied For a redraw how much can u get if u have not missed any repayments?

    • Staff
      Harold | May 3, 2017

      Hi Col,

      Thank you for your inquiry.

      If you’d like to access more of your available credit limit or increase that amount, you can login to the online member’s area at any time to do this.

      I hope this information has helped.


  3. Default Gravatar
    Paul | March 2, 2017

    What is the term of the loan

    • Staff
      Anndy | March 2, 2017

      Hi Paul,

      Thanks for your question.

      The maximum loan term for Wallet Wizard is 60 weeks.

      You may also check this page to compare other short term loans.


  4. Default Gravatar
    Tiff | January 4, 2017

    So I’m trying to apply online, but the website won’t let me submit.. why..??

    • Staff
      Anndy | January 4, 2017

      Hi Tiff,

      Thanks for your question.

      The Wallet Wizard is working fine on my end. Please refresh your browser and try again. If you can’t get through, you may want to directly get in touch with Wallet Wizard on 1300 925 538 so they can assist you.

      Alternatively, you may want to check this page for other short-term loans.


  5. Default Gravatar
    | January 2, 2017

    Does wallet wizard approve loans on a public holiday? It’s saying they have to get more info so it may take five more minutes but I’ve been waiting for ages and I’ve tried calling and it says it’s shut today. Just wondering if they still approve on public holidays.

    • Staff
      Anndy | January 2, 2017

      Hi Melanie,

      Thanks for your question.

      Wallet Wizard business hours is from 8am – 8pm Monday to Friday and 8am – 4.30pm Saturday. If you want immediate attention to your application, please do submit your application during these times.


  6. Default Gravatar
    Daniel | December 29, 2016

    I applied for a loan yesterday afternoon and am still awaiting the next day 1pm for word back. Definitely not as fast as they say it is I’m really thinking about hitting up nimble as I need the money today

    • Staff
      Anndy | December 29, 2016

      Hi Daniel,

      Thanks for reaching out.

      Unless Wallet Wizard requires you other documents, you should be able to get your funds within an hour after approval. You may want to verify the status of your application by calling them directly.

      Alternatively, there are other fast cash loans listed here for your emergency borrowing needs.


  7. Default Gravatar
    Nikki | November 28, 2016

    Hi, I have been with wallet wizard since beginning of year, always paid on time , but when i applied today for an increase (only from $500 to $700) they declined, saying my situation had changed and they believed i had financial difficulty. the funny part is my circumstances have improved and i now earn more money. I rang twice only to get the same answer, that it’s automatically generated message that everyone gets if they feel you are not eligible for more money , and now it won’t even let me draw on my available funds that it said I could access this morning. No one was even willing to look at my account or ask further questions. I’ve always been happy with my loan and the repayments, but i am very disappointed with the customer service over the phone. has anyone else had this problem?

    • Staff
      May | November 28, 2016

      Hi Nikki,

      Thanks for your comment and I’m sorry to hear about your negative experience.

      Although we may not be able to tell what would be the reason behind why Wallet Wizard has declined your application, you may still log-in to the Members’ Area and apply again to see if you qualify.

      Meantime, if you want to check other lenders that offer a small loan from $100-$2000, please visit this page to compare your options.

      Hope this helps.


  8. Default Gravatar
    Di | November 16, 2016

    Hi. What would the repayments be on a $5000 visa card and can it be used for say a medical procedure?

    • Staff
      Anndy | November 16, 2016

      Hi Di,

      Thanks for your question.

      I would like to confirm, are you referring to repayments on a Visa credit card?

      If yes, the repayment depends on which card you are choosing as the interest and repayment rate differs across Visa cards.

      Yes, you should be able to use your card where Visa is accepted. You can use it for the purchase of goods and services.


  9. Default Gravatar
    Jessica | October 24, 2016

    Hi, Just wondering if I were to borrow $3000 how much time do I have to pay it back and how much will it be in the long run once all payed off?

    How many days till the money comes through and can I pay more then the weekly payment if I have the money available?

    Thank you

    • Staff
      Elizabeth | October 25, 2016

      Hi Jessica,

      Your repayment terms are based on your credit limit, so if you’re approved for a $3,000 credit limit you’ll pay $58.28 a week to repay it (this is based on the calculator on Wallet Wizard’s site). The APR for this loan is 35.95%.

      The funds should come through on the same or next business day depending on when you apply. You can make additional repayments to pay off your credit limit ahead of schedule if you’re able.

      Hope this helps,


  10. Default Gravatar
    Samantha | October 23, 2016

    I am not happy with the customer service I have tried for weeks to contact someone to help me pay off my loan sooner an I have rudely been ignored. I sat on the phone on one occasion for 2 hours. It’s so disrespectful. I have never missed a payment.

    • Staff
      Elizabeth | October 24, 2016

      Hi Samantha,

      Thanks for your question and sorry to hear about your experience. You can submit a complaint to Wallet Wizard on its website. If you feel that, after submitting the complaint, the issue isn’t resolved then you can submit a complaint with the credit ombudsmen.

      I hope this helps,


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