As you have probably found out if you've been searching the Web, there are currently no Wonga promo codes for existing customers. BUT, DON'T BE SAD, you can
use one of these Wonga alternatives and get a great deal:
|Quick Quid||Quick Quid have a really quick and smooth process and boast that you can get your loan in just 10 minutes after approval||Enter AFF25 for 25% discount!|
|Peachy||Peachy offer loans of between £50 and £500 for between 5 days to 5 months||Use code UDG5OFF for £5 discount|
|Pounds 2 Pockets||Pounds 2 Pockets offer loans from £200 to £2000 and with a decision in as little as just 10 minutes||Not Needed|
|BongaLoans||BongaLoans offer loans of between £100 and £1000 for 1 to 30 days. You must be 18+ with a monthly income of £500+||Not Needed|
Please be aware that Wonga are currently not supplying ANY promo codes for existing customers.
If you require a discount, we suggest you try the Quick Quid promo by clicking the link HERE.
When asked for your PROMO CODE, enter the following: AFF25
This will provide a DISCOUNT OF 25% (the highest discount currently available)
Wonga offer personal loans to individuals on a short term basis and new customers using a Wonga promo code get a great deal. They are very well known in the UK and are generally considered to be amongst the two or three market leaders. Wonga were the first company in the UK to integrate computer technology into their business to allow lending decisions to be made automatically. When a customer applies for a short term loan (sometimes referred to as a payday loan) they are assessed using computer software algorithms to determine the level of risk that they are likely to pose as a consumer and if they are eligible to use a Wonga promo code. This approach in effect means that loans are approved or denied almost instantly as no human decision is usually needed and this is what takes time.
The way that Wonga have embraced new technology has allowed them to be pioneers in a number of areas, for example, they were the first UK company to release an iPhone app to borrow money and the first to allow use of a discount code known as the Wonga promo code. For new customers, Wonga offers up to £400 for a period of between one and thirty days. For existing customers, this figure of £400 is increased to one thousand pounds, again for up to a period of one month subject to having a high enough "Trust Rating". Existing customers are not usually entitled to use the Wonga promo code.
Wonga use a system known as "Trust Rating" to assess previous, existing customers. This means that if you have borrowed and repaid £400 from Wonga in the past, you won't necessarily be able to borrow £1000 straight away but you may be able to borrow more than £400 next time.
The algorithms used by Wonga are completely proprietary and not heavily linked to those of traditional lenders and high-street banks. The result of this systems means that it is not always clear to the potential customer why a loan application has been accepted or denied. Many people see this as a positive benefit because it means Wonga can keep overheads low by not assigning an account manager to each customer who would then be responsible for explaining why a loan application was refused or why use of a promotional code is not allowed. The end result of this practice means that the cost of credit is lower than it could be if many more staff were needed to perform manual tasks.
The front of house at Wonga is represented by Betty, Earl and Joyce. These are fictional, animated characters that represent how many people view real life pensioners. Lots of people are able to relate to these characters and many have an underlying sense that pensioners don't rip people off as a matter of course. Betty is probably a widow meaning that she has lots of time to operate the Wonga computers and accept or reject loan applications from would be customers. She is probably the person who checks if a customer is new enough to make use of a Wonga promo code on the website. In the present environment, many companies are extremely worried about falling foul of the recent age discrimination legislation. It has been speculated that this is the reason Wonga have used the senior citizens to represent their brand. If Wonga had used dolly birds or hotshots as the face of their business, there is a high chance that accusations of them being ageist could have arisen. This is just one more example of Wonga showing that they abide by the law and operate a socially responsible and aware firm. If you are a new customer, be sure to take advantage of the Wonga promo code.