CreditWise - Loan Shark Review
Interest Rate 46%
Duration 7
Access Level Public
Company Name WiserDeveloper
Phone 1
Phone 2
Website or Store https://web.creditwise.loans/#/
Address unknown
Category Dangerous Loan
Company Email support@creditwise.loans
Views 866

CreditWise

At CreditWise, our mission is to make financing easier for Nigerians by providing an instant loan app with affordable interest rates and excellent customer service. We are committed to helping our customers achieve their financial goals and overcome unexpected expenses without breaking the bank.

Our Vision

Our vision is to be the leading loan app company in Nigeria, offering fast and secure loan services that are easy to use and accessible to everyone. We aim to help millions of Nigerians access affordable credit and achieve their financial dreams.

Our Core Values

At CreditWise, we uphold the following core values in everything we do:

Excellent Customer Service: We strive to provide the best customer service to our clients by ensuring that all inquiries are answered promptly and all concerns are resolved in a timely and efficient manner.

Cooperative Partner: We believe in working together with our clients to achieve their financial goals, and we are committed to building long-term relationships based on mutual trust and respect.

Ease of Use: Our loan app is designed to be user-friendly and accessible to everyone. With just a few clicks, you can apply for a loan and receive funds in your bank account within minutes.

Security: We take the security and privacy of our customers very seriously. We use advanced encryption technology to protect all sensitive information and ensure that all transactions are safe and secure.

Instant Loans: We understand that financial emergencies can happen at any time, and that's why we offer instant loans to our customers. With our loan app, you can apply for a loan and receive funds in your bank account within minutes.

Our Services

At CreditWise, we offer a range of loan services to cater to the different needs of our customers. Our loan products include personal loans, business loans, and emergency loans. We also offer flexible repayment schedules to ensure that our clients can repay their loans at their own pace.

Interest Rate

Our interest rates range from 16% to 35% APR (Annual Percentage Rate) depending on the loan amount and repayment period. Our interest rates are affordable and competitive, and we do not charge any hidden fees.

Loan Product

Our loan product offers the following features:

Loan Amount: ₦ 3,000 - ₦ 50,000

Loan Term: minimum 92 days - maximum 365 days

Interest Rate: from minimum 16% to maximum 35% APR

Other Fees: No other extra fees

A representative example of the total cost of the loan, including all applicable fees:

If you borrow 3000 NGN and the loan term is 6-month, and 18% annual interest rate is applicable. So the total Interest would be 3000 NGN *18%*180/365 = 266 NGN. The monthly payment would be (3000 NGN +266 NGN )/6 = 544 NGN. The total repayment amount would be 3266 NGN.

Loan Applicant Eligibility

To be eligible for a loan, you must be a Nigerian resident between the ages of 20 and 60, and have a BVN (Bank Verification Number).

Steps to Get a Loan

Getting a loan with CreditWise is easy and straightforward. Here's how:

Install the App: Visit the Google Play Store and download our loan app.

Register for an account: Create an account by providing your personal and bank information.

Submit your loan application: Fill in the loan application form and submit it for approval.

Get money into your bank account post-approval: Once your loan is approved, you will receive the funds in your bank account within minutes.

Repay on time to get a credit limit growth: To improve your credit limit, it's important to repay your loan


Expert Counsel

Let's delve into CreditWise and its operations, addressing your concerns directly. Firstly, it's essential to understand that CreditWise may resort to various measures if you owe them money. They might send SMS notifications to your contacts regarding your outstanding debt. Furthermore, if your payment is just one day overdue, they may begin sending derogatory messages via WhatsApp to your contacts.

 

Typically, CreditWise offers repayment plans ranging from 6 to 14 days, which can prove to be challenging to fulfill. Their overdue interest rates fall within the range of 2% to 7% per day, potentially exacerbating your debt burden.

 

It's important to note that repaying CreditWise after they defame you is not advisable. Their primary strategy revolves around damaging your reputation to secure their payment. Since they operate as unlicensed loan apps, their main recourse is through defamation tactics.

 

Borrowing from another loan app to settle your debt with CreditWise is not a viable solution and may lead to financial ruin. They operate under various aliases on mobile app stores, complicating efforts to escape their debt trap.

 

To manage their communication, consider installing Truecaller on your mobile phone to identify and block their calls. Additionally, blocking them on WhatsApp and reporting their actions directly to WhatsApp and Google Play Store can help mitigate their impact.

 

Ultimately, the most effective solution to break free from CreditWise's grip is to cease borrowing altogether. By refraining from further loans, you can gradually extricate yourself from the debt cycle imposed by such entities. Remember, your integrity is paramount, and you can find alternative means to manage without succumbing to their tactics.




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Reviews

  • User loan Review
    CreditWise

    This app is a scam its was written my loan amount is 12,030 but I was credited with the sum of 7819.50 and I should pay the amount of ₦12,714.82.

    • 4/5/2023
  • User loan Review
    CreditWise

    CreditFoolish-Unreliable loan app. Total waste of time and data. The fellows running the app are not ready for business at all

    • 4/1/2023
  • User loan Review
    CreditWise

    I was yet to finish with the requirements then request for an amount before I could say Jack Robison....they hit my account with an amount that I didn't ask for. This is the greatest online scam I've ever seen. You credited my account with a figure I didn't request for and also gave me a time frame for repayment. Tried reaching them via their customer service, line is switched on a working day! I feel so terrible, I don't need this loan at all, this isn't what I want, I should have a choice.😡

    • 3/31/2023
  • User loan Review
    CreditWise

    Very useless app ever, the worst part of it is that their Wil send you credit you and still charged you, from what you are borrowing, still have higher interest rates,

    • 3/30/2023
  • User loan Review
    CreditWise

    After applying for the loan, they didn't let me view the details of the loan. Immediately it was approved without my consent. To make matters worse, the sum of 2437 was credited into my account against the 3750 they actually wanted to give. This is daylight robbery.

    • 3/29/2023
  • User loan Review
    CreditWise

    It's quite disheartening the way they run their services at creditwise in terms of loans. A week ago, I requested for a Loan of 21,000 to pay 24,000, but they choose to credit me with 16,000 which i regarded as unacceptable. Then i complained to the staffs, but they paid deaf ears to my complaints. So In the early hours of today being 28th of March, i then decided to repaid my outstanding Loan with creditwise which was 24,850, with the aim of never to continue with creditwise again.

    • 3/28/2023
  • User loan Review
    CreditWise

    I never click to confirm the loan but they automatically disbursed it into my acct. and i am not interested in such loan with high interest on such period of time

    • 3/27/2023
  • User loan Review
    CreditWise

    I downloaded the app this money requested for loan and the limit of the loan was 7k they send me a message on the app that they have disbursed 7k to my bank account. But I didn't see any money in my account until now. 

    • 3/27/2023
  • User loan Review
    CreditWise

    They showed me 25k on the app but disburse 16k plus and I called them they asked me to send the exact amount back to them that remaining one is going to be clear up, till now is still showing on the app they are even increasing the amount

    • 3/26/2023
  • User loan Review
    CreditWise

    The system automatically requested for a loan for me, while I was trying to add my bank card. Funny enough it's even written on the loan history that I was credited with 12,000naira which is a lie, what was sent to my account was 7,800naira and I'm supposed to pay 12,683.11naira, that's robbery. I did not apply for this loan, I don't want it please. The loan amount is too low and the interest is basically 2times what was paid into my account 😡😡😡😡😡

    • 3/26/2023
  • User loan Review
    CreditWise

    I've been applying on the app for months now, they gave me credit limit, took my card in and then boom! Loan is full, apply in 31+ days. They don't have any loan to give.

    • 3/20/2023
  • User loan Review
    CreditWise

    This app is a scam, they'll give you your loan and, of course, with a very high interest. When the due date for payment comes, the deactivate both their virtual accounts and their any form of transfer method so you can accrue extra charges. Once you're overdue, their agent starts sending you stupid messages. Please stir clear of this app.

    • 3/20/2023
  • User loan Review
    CreditWise

    This is the most confused app I have ever seen. First i was auto borrowed 10,000 i did not request for and i received 6,500 from the app and i have just paid today after they called me a minute later I'm seeing another 13,000 borrow and 8,450 was sent to my account so i sent it back immediately just as the lady who called me from the customer service but I'm still seeing 5,289 as to be paid for what reason and I'm trying to call the same service number that called me before but it's not going.

    • 3/17/2023
  • User loan Review
    CreditWise

    I tried it and only for the app to claimed they've forwarded the money to my account this is more than 24 hours, yet to get alert or the money into my account. I've messaged them more than 3 times to get it rectified but they never bothered replying to my sms. Practically annoying. Since 13/3/2023 nothing till 14/3/2023

    • 3/14/2023
  • User loan Review
    CreditWise

    The app is full of scam , I downloaded the app and registered I didn't even apply for a loan and they automatically credited me with #30,400. and they we asking me to pay #50607 . I call them to inform them am not interested , they gave me an offline account number to refund the money which I did immediately, the refused to clear the interest charge on the loan, they are now autodebit my bank account. I call the office serval times till now nothing has been done. Don't waste ur time on this app

    • 3/13/2023
  • User loan Review
    CreditWise

     I was trying to apply for a loan and i saw a flash of 18000 limit and a 19k + repayment amount and i applied only to receive 11700,I emailed them and they gave one stupid excuse and that if i wasn't satisfied i should send the amount i received back to them before 24hours, I've done that, i am hoping they clear this 19k debt so i can peacefully uninstall the app. Unsatisfied😒🤬

    • 3/13/2023
  • User loan Review
    CreditWise

    Requested for a loan but received a lesser amount and tried contacting them, i was given another account details to refund the same amount that I was credited with which I did but till now, the dashboard is still showing the amount i requested from them despite refunding the unless amount the credited me with. Notice I'm not owing you guys and better deactivate me from this app. they are SCAMMERS. 

    • 3/8/2023
  • User loan Review
    CreditWise

    The worst app you can find. They only offer 7days loan the intrest rate is too much .hidden charges and vat fess. Its just too much. And any delay in repayment will leave you with over running high intrest rate day by day. Dont even bother here even if youre despirate for money.

    • 3/7/2023
  • User loan Review
    CreditWise

    fraudulent. I downloaded the app in a bit to know what it's about, I got credited without asking them to, I immediately sent an email, I got a reply to refund the money within 24 hours, did within 3 hours, days later they kept texting that I am owing, got WhatsApp messages too, I called & the lady said she will get back, the next minute she blocked my line. I kept getting messages, I decided to send them extra to see if it would stop. They still sent message today. After stealing from me.

    • 3/7/2023
  • User loan Review
    CreditWise

    To everyone reading this, creditwise is a scam, I was in d process of requesting for a loan when I was credited 16k to pay back 27k in 7 days, immediately I called the number on their app,it was just playing music,sent a message to the email address provided intimating them about my experience and to let them know I DID NOT NEED THE 16K they credited me with,that they should provide me an account to pay back into,up till today 7th of March,they haven't responded. 

    • 3/7/2023
  • User loan Review
    CreditWise

    Please I don't really have much to say about this App I request for money and they're approved it,but what surprise me there is the amount they are telling me to repay,I received the less amount I ask for,and they're still telling me to repay the money back by *2 is too much ooo,

    • 3/1/2023
  • User loan Review
    CreditWise

    They are very dubious. Loan details wasn't disclosed. I was credited with a very rediculus amount just after biding my card. It asked for higher repayment. After getting through to them I was asked to refund the same amount credited for cancelation. The amount was deducted. App still showing balance for me to repay. I made several calls to customer care & they assured the loan as been canceled. This morning they deducted the some of from my bank account.

    • 3/1/2023

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