News and views

As one of the most high-profile businesses in the finance sector, we attract a broad range of views on what we do. Here's our factual take on some of the hot topics involving Wonga.

53,000,000% APR

Date article publshed: 30/01/2013 Read original article >

On 30th January 2013, the Daily Mail published an in-depth investigation into the high cost of unauthorised overdrafts.

It also printed a supporting editorial that suggested annual percentage rates (APRs) can be a misleading way to compare short-term credit.

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Response by Admin Published: Categories: Wonga Annual Percentage Rate (APR) Unauthorised overdraft

Which? campaign to ‘clean up credit’

Our regular customer surveys continue to show that most people use Wonga because of the control, convenience and transparency of the service, but the recent Which? campaign to “clean up the entire credit market” also backs up the other rarely told truth about our consumer product:

People often use Wonga because of the price.

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Response by Admin Published: Categories: Unauthorised overdraft Total Cost of Credit (TCC)

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