Keep life moving with a smart loan, similar to a line of credit loan in Brisbane
It’s easy to feel like you’re on top of your finances until something unexpected hits – a dental bill, a burst pipe, or a car repair that can’t wait. That’s where a Wallet Wizard smart loan, similar to a line of credit can help. Whether you need $500 or up to $8000, our flexible credit solution gives Brisbane residents access to money when they need it most. Once you’re approved, you can access funds whenever your available credit meets the redraw eligibility and threshold. It’s credit that adapts to your needs
Fast and simple online approvals
Our smart decisioning process is designed to speed things up. It assesses your application quickly using the details you provide to determine the credit limit suitable for you. Once approved, money will be transferred to your bank account within minutes of contract acceptance, 24 hours a day if your bank supports Osko® payments*.
What is a credit limit?
A credit limit is the maximum amount of credit we agree to make available to you under a contract with us. The amount is based on our assessment of your situation and income. If approved, we will offer a credit limit that is right for you.
What is my available credit?
Available credit is the difference between your credit limit and your current account balance. Your current account balance is the amount owing to Wallet Wizard.
What is a redraw?
A redraw is the available credit that you can apply to access. It’s the difference between your credit limit and your current account balance. Your current account balance is the amount still left to pay.
When am I eligible for a redraw?
You become eligible to apply for a redraw when you are up to date with your repayments and;
- your available credit is the lower of $500 or 25% of your credit limit.
- For example: if you have a $5000 credit limit then your available credit will need to be at least $500 to be eligible for a redraw
- For example: if you have a $1000 credit limit then your available credit will need to be at least $250 to be eligible to apply for a redraw. OR
- if you have elected a minimum redraw amount during your last loan approval, when your available credit reaches the elected amount.
How can I apply for a redraw?
You can log in to the Wallet Wizard Members’ Area any time to see if you’re eligible to apply for a redraw. Once you’re eligible, simply submit a redraw application via the Members’ Area and follow the prompts. It’s super-fast and easy!#
Can I increase my credit limit?
You can apply to increase your original credit limit, up to a maximum of $8000. Your credit limit is the maximum amount of credit we initially agreed to make available to you under your contract with us. To apply for an increase to your credit limit, simply log in to the Wallet Wizard Members’ Area anytime to see if you’re eligible. If eligible, you can apply by following the simple instructions in the Members’ Area for a fast assessment and decision. If approved, the amount offered is based on our assessment of your current situation and income.
What do I need to apply?
If you’re applying for a line of credit in Brisbane, here’s what you’ll need:
- Be 18 years or older
- Be a resident of Australia
- Have regular income and an active bank account.
With appropriate documentation of the above, you can complete the application fully online in just minutes.
Can I borrow if...
...my credit score isn’t great? We understand life happens. We don’t rely solely on credit scores to make a decision. If your current financial position supports it, you may still be approved.
Apply now for a smart loan, similar to a line of credit loan in Brisbane
If you’re after flexible, online access to funds in Brisbane, Wallet Wizard makes it easy. Apply now and find out how much you could be approved for with our fast and user-friendly system.
