Theoretical PDL credit rating question

Lomast

Firstly i would like to state that i am not thinking about doing this but,

Looking through topcashback last night i noticed Wonga is offering a deal, my reaction no chance would i risk my credit rating for a few quid cashback especially as the reviews on tcb are not great.

Anyhow i was then thinking about it earlier and not really understanding how credit companies report to the reference agencies i wondered, if i were to take a Wonga loan for the cash back but then paid it back straight away ie as soon as the cash hit my account, would it still be reported to the credit reference agencies.

Just to reiterate this is purely theoretical i AM NOT intending to try it.

CKhalvashi

From the credit reports I've gone through with some former homeless, yes it will.

Some were paid back early here.

CK

Tixy

Yes the account will show on your file unless you withdrew from the credit agreement (and paid the money back).

But if you did that then likely I presume the cashback wouldn't payout.

brendon

Why would you risk it for the sake of a few pounds? Also, it's not just interest that Wonga charge. There are admin fees as well, which probably absorb any cashback you'd get.