Wallet Wizard – Smart Loan

Apply for any amount between $500 and $2,000 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 $2,000 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 (Up to 2K)
Term of LoanUp to 2 years
Min Loan Amount$500
Max. Loan Amount$2,000
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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