Categories
Payday Loans

Precautions when applying for a payday loan

Brazil has just emerged from an economic crisis that left a large part of the population in debt. Still, many people are afraid when asking for a loan, which is understandable because of the rumors surrounding this area of ​​the financial market. However, if it is very well planned, it is possible to do it without anything wrong happening.

There are several types of credit lines, but the most well-known and indicated may be that of payday loans. Despite having higher interest rates, the terms are usually longer and there are not many requirements to be accepted. They are rarely denied and it is not necessary to give a justification to the financial institution regarding the use of money.

However, there are unforeseen events and very common situations of falling into error. You have to be calm and analyze a number of factors – mainly scams so well applied and commonplace that they look like real loan transactions, especially when the victim is not very knowledgeable about this type of negotiation.

With that in mind, Cream Finance made a list of tips for not falling for scams and making mistakes, in addition to not having any major problems and future headaches when applying for a payday loan or choosing your credit line and financial institution. Check-out.

 

Plan

loan plan

The first step in obtaining a credit line once you decide to do so is to plan. Understand the destination of your money, research on interest rates and all others that will be charged on the loan, the Total Effective Cost (CET) and, mainly, what impact this will have on your monthly income. This can be done with the help of spreadsheets, applications and websites, even some that have a loan simulation that already counts all fees and expenses.

 

Loan only in a safe place

Loan only in a safe place

The most important of all the tips and that should be executed without any kind of error is that loans should only be made with those who have a security identification and reference on the subject. And that goes far beyond financial institutions, but it also includes credit platforms that generally have financial partnerships and a good portfolio of clients,

All financial intuitions that make legal and secure loans are authorized and regulated by the Central Bank , while credit platforms are official intermediaries. Just search for the company’s CNPJ, the address and contact details of those who want to take out the loan to know whether or not it is a scam.

 

Think about the return

credit loans

In planning, visualize the return. There is no point in taking out a loan if, not only will you not be able to repay it, but you will return to your starting point. A payday loan must have a guaranteed, concrete return. Do not hire him if the credit line will only cause you to have one more debt or to use your money on unnecessary goods like travel or car.

 

Be wary of miraculous deals

personal loans

Before doing anything related to your money, research. If a loan happens to appear that seems too good to be true, it is usually because it is not true. To identify this type of scam is quite easy: an opportunity with very low interest rates and almost no extra fees or charges to be paid.

Interest rates and charges vary from institution to institution and from line of credit to line of credit, it is known. However, both institutions and credit platforms usually follow an approximate average practiced by the market and issue.

 

Never deposit before

personal loans

No financial institution will ask for advance deposit as a guarantee before the customer receives the loaned amount. This is a common practice of fraudulent actions, with the justification of reducing part of the amount. The scam can also come in the form of an advance, even if the company or the intermediary does not carry out any type of registration.

 

Look for cheaper debt

debt loans

The loan is nothing more than a financial tool to help reduce debt. However, the customer will be exchanging one debt for another, so he must make sure that the new debt will grow at a slower speed, exchanging a higher interest rate for a lower one. Look for the ideal line of credit for your pocket and that debt does not become greater than the one you intend to pay.

Special purpose loan – what is it and what is it for?

The banks are quite shy about trying to encourage us to use financing for a specific purpose. From the bank’s point of view, such lending seems less risky and creates the opportunity to propose a lower price for the loan.

Among the special purpose loans, we include a mortgage. The bank then knows what the borrower takes out the loan for, which distinguishes this situation from the case when the cash loan is granted. How does the issue of specific loan offers look like in reality? We checked!

Special-purpose loan – what is it for?

Special-purpose loan - what is it for?

Usually, when we arrive at the bank, or even earlier when we look around among the available loan offers that seem favorable to us – we already know what we will allocate the funds possibly obtained from this institution. This is how we get to the heart of the matter, i.e. to review the subject of earmarked loans. It is worth being interested in them.

So what is an earmarked loan? This term applies to loans for which banks require a specific purpose for which the money will be spent. These can be various types of loans, including car, mortgage or installment loans. They are granted for many products or services, although most often we deal with loans for the purchase of an apartment.

It can also be said that a special-purpose loan is a bank loan that is intended for a specific purpose. This is a factor that clearly distinguishes specific loans from other credit or loan obligations.

A characteristic feature of special-purpose loans is that the money paid by the bank does not go to the borrower’s account or pocket, but to the account of the person selling the apartment or car, for example.

Special-purpose cash loan

Special-purpose cash loan

In general, a special-purpose loan must have a clearly defined purpose of spending the acquired funds, and a cash loan can be issued for any purpose that you do not need to notify the bank of.

However, if you are applying for a special-purpose cash loan, you must state in your loan application what you want to take it for, e.g. for holidays, the purchase of home electronics and household appliances or for the renovation of an apartment. An installment loan can also be considered an earmarked loan – a cash loan repaid in installments.

Advantages of the special-purpose loan over cash

Special purpose loans are usually cheaper than cash loans. They pose less risk to lenders, which is why they can offer customers a lower interest rate for such a commitment.

The reduced interest rate automatically reduces the total cost of the loan. The maximum loan amount we can get is also increasing and the loan period is getting longer.

Special purpose mortgage

A mortgage, i.e. a long-term loan secured by a mortgage on a residential property for the bank, is a special-purpose loan. The entry to the real estate mortgage, valid until the loan is repaid in full, is a loan that allows you to finance the purchase of the property, but you can also buy a construction plot or carry out extensive renovations.

A special-purpose mortgage usually has a lower interest rate, as the debt is secured by a valid entry in the real estate mortgage, which means that the credit risk is very low.

Conditions for granting a special purpose loan

bank

A special-purpose loan is a great solution for all borrowers who know exactly what they want to spend on the loan or credit. The condition for granting a special-purpose loan is to document the expenditure made using the special-purpose loan in the form of bills or invoices. In this case, the bank is willing to grant a higher loan.

The basic condition for granting a special-purpose loan is entering the purpose for which the funds will be spent in the loan application. If the subject of financing is also to be collateral for loan repayment, then it is necessary to present along with the loan application documents that will enable such collateral to be established.

Specific loan costs

The components of the cost of an earmarked loan are actually the same as for other loans, although usually lower. They include, among others:

  • credit interest accrued at the interest rate agreed with the bank,
  • the commission charged for joining the loan,
  • costs of establishing loan repayment security,
  • possible credit insurance.

Thanks to solid security and knowledge of the purpose of spending funds from a special-purpose loan, the bank can offer the customer a more favorable interest rate on such an obligation.

Target loan interest rate

What interest rate will the targeted loan have? It will certainly be lower than the interest rate on cash loans whose purpose is unknown to the bank. The lending institution is confident that the funds transferred will be used properly.

The interest rate reduction on a special-purpose loan is also influenced by the fact that the loan repayment security is most often set in connection with it.

Special-purpose loan collateral

An earmarked loan, e.g. a mortgage for a flat or a car loan, has collateral to pay off the liability. It could be:

  • mortgage on residential property;
  • loan repayment insurance, e.g. fire and other random events insurance;
  • assignment of the car as security;
  • assignment of rights from a vehicle insurance policy;
  • civil bail, etc.

It depends on the bank and the individual arrangements related to the granting of a special-purpose loan.

Loan period with a special purpose loan

Depending on the type of special-purpose loan granted, the loan period may be from several months to even several dozen years, as is the case with a mortgage. The loan period also depends on the age of the oldest borrower submitting the loan application.

Repayment of a special purpose loan

A special-purpose loan is repaid on the same terms as any other loan, e.g. cash loan. Most often this is done in installments set in the repayment schedule. The principal and interest installments are repaid gradually, every month, until the end of the loan period.

Banks offer a fast loan of 1500 USD.

If you need a quick loan of 1500 USD, there are several ways to get such a loan. You can contact your house bank or other banks that may be domiciled in Germany or abroad. Depending on what you choose, you have to meet different requirements. A quick loan is an installment loan that is freely available in many cases. Things only behave differently if a purpose is expressly stated.

Credit requirements

Credit requirements

1500 USD is a relatively small loan amount that can be repaid at least in the medium term. However, you should note that you not only have to pay monthly repayments for the loan, but that you also have to pay interest. This interest is usually higher for foreign lenders than for German lenders. This is due to the fact that foreign lenders have little information about the borrower’s personal credit rating because they do not request Credit Bureau information from him.

This is different with Cream banks. As a matter of principle, they do not grant loans without first having inspected the Credit Bureau. If there are negative Credit Bureau entries about you, it could be difficult to obtain a loan in Germany. Here you can switch to private lenders or foreign banks.

In any case, income plays a central role in assessing your creditworthiness. Employees have the best chance of getting a loan, regardless of whether they apply for it at home or abroad. Even if a quick loan of 1500 USD is a smaller amount, there should be an income above the garnishment-free limit.

The banks and the savings banks have defined certain guidelines here on how high the income should be in a specific case. Income amounts that are below the garnishment exemption limit are generally not attachable and must remain untouched by all lenders. This is exactly why the banks are demanding an income above the garnishment exemption limit. Only amounts that exceed the garnishment exemption limit are earmarked for payment of the repayment installments.

In addition, only these amounts can be seized if the borrower does not adhere to the installment payment agreements and falls behind with several installments. Income amounts below the garnishment exemption limit are intended to cover one’s own livelihood. In this way, the existence is to be secured even if attachments are present.

If you cannot show your own income or if the credit conditions are not sufficient for another reason, you can provide additional collateral for a quick loan of 1,500 USD. The lender and the borrower must individually clarify which collateral can be used. A guarantee would be one such option. A person with a secure income can also act as a second applicant for the quick loan of USD 1,500. Other options are the pledging of movable property and the pledging of claims from insurance or building society contracts.

Loan terms

Loan terms

Those who want to opt for a quick loan of 1,500 USD usually do so because they urgently need money. For this reason, the loan application is processed faster than is usual with other forms of credit. It often takes no longer than a few minutes before the borrower can count on a binding decision as to whether the loan application will be approved. If this is the case, the loan can be paid out immediately. This can be done either in cash or by transfer to a checking account.

The loan amount has already been set at 1500 USD. However, this does not apply to the term and the credit rates, nor to the interest. With a quick loan, it is possible that very low monthly repayment rates are agreed in order not to burden the borrower’s budget too much. This is particularly interesting for people with low incomes. The rates are sometimes so low that they hardly matter every month, a fact that can also be important for people with a slightly higher income. If you agree low rates with your lender, you should also make sure that the interest for a quick loan is not too high 1500 USD. The same applies of course to all other cases in which you want to take out a loan.

A quick loan of 1500 USD can be divided into a quick loan for free disposal and a quick loan with earmarking. A purpose limitation can exist, for example, with a car loan or a dealer loan. Otherwise, you can use the money the way you want without having to provide the bank with proof.

Application, approval and repayment of the loan

Application, approval and repayment of the loan

Many people prefer to apply for a loan online. This has several advantages, because you don’t have to leave the house, and you don’t have to rely on the bank’s opening hours to fill out and send the loan application. If you prefer a personal application in the branch, you are also free to do so. Any questions that may arise can be clarified immediately. In any case, you should have all the documents you need for the quick loan of 1500 USD ready. In this way, the loan decision can be made quickly and you avoid inquiries that often lead to delays in loan processing and loan payment.

Often you can expect a decision from the lender after just a few minutes. If this decision is positive, the money is transferred or paid out in cash. This does not have to be at the bank counter, but can also be done at a post office counter or by delivering the money by courier. All factors that are important for the quick loan of USD 1,500 are recorded in writing in a loan agreement.

The term of a quick loan of 1500 USD is basically variable. If you can repay the loan at very short notice, very short terms with relatively high repayment rates are possible. Otherwise, there is often the possibility that you can extend the term and in return that the monthly credit installments will be reduced.

Loan available with lightning transfer.

Sometimes it also has to be quick with a loan application, for example because you have to quickly pay an invoice before the creditor puts the matter into the judicial dunning procedure or sends the last reminder. But also to compensate for the exhausted, expensive overdraft facility of your own checking account, a credit with lightning transfer is a good solution. Because the money is paid out by the bank or the credit institution to the borrower immediately after checking and approving the loan application by means of a wire transfer.

Fast processing on a credit with lightning transfer

Fast processing on a credit with lightning transfer

Many banks and credit institutions now offer this service. If you used to wait a week or more for your money from a loan application, today the applications are processed much faster by the banks and credit institutions. If you then request a credit with lightning transfer, it is often even faster. Mainly because the money is shown on the borrower’s account via express bank transfer immediately after approval of the loan application.

The customer can then immediately freely dispose of this money and, for example, pay his outstanding bills or settle the overdraft facility. If there are no more open questions from the bank for such a loan application, the processing time is usually only one to two working days until the loan application has been approved. Thanks to the instant bank transfer by express, the money is already in the borrower’s account an hour later.

What needs to be considered when applying for a credit transfer?

If you want to take out a loan with Lite Lender Company as a borrower, you have to do something yourself. So you should submit all the necessary collateral, pay slips or other important and necessary documents that the bank needs together with the application. The questions on the application should also all be answered truthfully so that time does not pass unnecessarily because the processing bank of the loan application still has to research or inquire.

It is also helpful to directly specify the account in the application, to which the lightning transfer should then take place. And of course it is very important that the borrower can have a good credit rating, because if the bank receives a negative declaration here, the application for the loan will be extended by several days.

How to avail public service loans.

Civil servants not only have a very secure income, they also have a good credit rating. For this reason, getting a loan for civil servants shouldn’t be a problem in general.

Compare loan offers

Compare loan offers

Due to the fact that the loan offers are usually very diverse, it is advisable to carry out a comparison. Civil servants often benefit from similarly favorable interest rates as civil servants or civil servant candidates. Loans for public servants can be credit-dependent or credit-independent. In addition, they usually have very long terms, which makes low monthly repayments possible.

Application and approval

Application and approval

Once the right loan has been found, it can be applied for either online or in a bank branch. In the former case in particular, the loan application is checked very quickly and either approved or rejected within 24 hours. If the loan application can be met, the money will be transferred to the customer’s checking account. In most cases, a loan for public sector employees is freely available. There are only a few exceptions to this rule. This would be the case, for example, with a car loan or a real estate loan.

Every loan, regardless of whether it was given to an employee, an official or another person, must be repaid in monthly installments. The amount of these installments depends not only on the amount of the loan taken out and the term, but also on the annual percentage rate.

Official loan

Official loan

Although most civil servant loans are only open to civil servants or trainee officials, they can also be used by civil servants in certain circumstances. An important prerequisite for this is that the persons concerned have been employed in the public service for several years or decades and can provide faultless Credit Bureau information. In principle, however, each bank decides for itself who it wants to grant an official loan to and who it excludes from the outset.

A very significant difference from a conventional loan is the fact that in the case of a civil servant loan, capital life insurance must still be taken out in parallel to the loan contract. The official loan will not be repaid during the term. The borrower only has to pay the monthly life insurance premiums. The purpose of this procedure is to repay the entire loan amount with the life insurance. This always happens at the end of the term. If the life insurance has generated large surpluses, the borrower may be involved.

Paying a Credit Card Bill that Is Strangling Using a KTA Loan, Can It Really?

Swipe here and there, this transaction using a credit card is very practical and profitable. But you need to be vigilant, because it can actually make ‘addictive’ in its use. Finally, credit card bills swell because of not being aware of more shopping.

Aside from excessive usage, there are several other factors that can cause your ‘magic card’ bill to increase so that it can become your financial burden every month.

 

1. Exceeds the maximum limit

loan limit

If the credit card application is approved, surely you will be notified of the maximum credit card limit that you get. Usually adjusted to your salary. If the track record for paying bills is smooth, then the nominal limit can be increased, even to the extent that it exceeds your income every month.

Of course, a large credit card limit is profitable. But it can also be a boomerang for you. Because this will make you err, even can be broken. So the peg is bigger than the pole.

Pay bigger bills. That’s just the principal debt, not yet added interest, so the amount of installments you have to pay can be higher. If the portion of debt installments is more than 30% of monthly income, then the possibility of default can be paid.

 

2. Late paying bills

2. Late paying bills

Swell credit card bills can also be caused by delays in paying debts. If the payment is past due, the credit card provider bank will charge late fees that will be included in your bill. That way, more and more bills. Late fees are usually calculated from the total monthly bills.

 

3. Too often withdraw cash

cash loan

On a credit card, there is usually a maximum cash withdrawal. Usually limited between 40-60% of the total credit card limit. The maximum amount of cash withdrawal depends on the type of credit card chosen.

The problem, withdrawing cash using a credit card is subject to administrative and interest costs. The interest charged for cash withdrawals is much higher than the interest for shopping transactions. The difference can reach 0.5% to 2%, depending on the policy of the credit card issuing bank.

While credit card cash withdrawal fees are usually charged at 4%, some even reach 50,000. The fee is charged directly at the time of withdrawal. So, the greater the value of cash withdrawals, the greater the bills due to costs and interest.

 

Swollen Bill Solutions, Use KTA Loans

Debt or loans are not a scourge

Resolving an enlarged credit card bill, in addition to using personal savings or selling valuable assets, you can look for alternative ways such as applying for Unsecured Loans (KTA).

KTA is a loan facility without the need to use collateral or collateral. KTA loan ceiling is usually around $ 3 million to $ 300 million. Some even offer $ 500 million.

Big is not it? Very enough to pay off your credit card bills. It’s just to keep in mind, that you use a way to dig a manhole cover in solving debt problems. So make sure that you can pay new loans through KTA.

What you need to know from KTA is:

1. Submission is relatively faster and easier. On online platforms, like Lite Lenders you can too. As long as the requirements are complete, KTA funds can be disbursed in just one hour

2. Applying for a KTA, there are those who do not impose the conditions for having a credit card. So anyone has the opportunity to access this loan

3. Borrowing KTA must be prepared with the consequences of relatively high interest. Some even charge up to 2.5% per month

4. There is a penalty fee if paying off the KTA before maturity.

Try to calculate, if you borrow KTA $ 50 million, a 3-year tenor (36 months), an interest rate of 2.5% per month. Therefore, the principal to be paid is $ 1.39 million per month. Multiplied by 2.5% a month, the installment is $ 1.42 million, which must be paid every month to the bank.

 

Choose the Best KTA with Light Interest

loans

Because there are risks lurking about settling old debt with new debt, make sure you choose the right KTA. If you are still confused, you can compare several KTA products from several banks through the Lite Lenders website.

Choose the best KTA that offers low interest rates with a long tenor, so that installments become lighter. Submission can also be made directly through the same site. Good luck.

Beware Trapped Money Loans Online

At present, borrowing money may no longer be a difficult case. If an only investment can be done online, so too in terms of borrowing money. You must have heard about online money loans, which are increasingly varied.

Call it to peer (P2P) lending, fintech lenders, or even online money lending features provided by banks.

However, the ease of borrowing money does not mean there is no risk. Do not be mistaken for borrowing money online then you can get out of hand when unable to pay. Borrowing money online also has the same risk or maybe more dangerous than if you borrowed money elsewhere.

Learning from the case with the victim you should be more aware when you are going to borrow money, especially if you are borrowing money online. Get to know the risks like the seven below then choose the best way to borrow money when in a desperate condition.

High Loan Interest

High Loan Interest

Ever heard borrowing money online has lower interest rates than at a bank?

The reality is not always like that. It is not uncommon for loans to be very high with the promise that money can be disbursed in a short time.

For self-interest loans, for example in P2P lending, it can range from 14% to 30%.

The rules regarding loan interest are indeed not strictly regulated.

The Financial Services Authority (FSA) does not regulate online loan interest limits. The interest rate arrangement is left to each online loan company.

Problems that often occur, many people are not aware of the amount of interest they have to pay.

Even though sometimes interest rates have been mentioned, because you are too panicked or other reasons, you forget this important information.

It could also be because the lure of money can be disbursed quickly, you are ignorant of the amount of interest.

The existence of unexpected costs

The existence of unexpected costs

Do not think after the loan was successfully obtained, you only need to pay money and interest.

There are other costs that need to be taken into account. You name it, administrative costs will be deducted from the value of the loan. The amount is around 3% to 5% of the nominal amount borrowed.

Then, there are also fees or penalties when late paying or paying the money borrowed.

Not to mention, if the arrears have to be billed by the company, you have to be willing to pay the billing fees anyway.

With so many unexpected costs to pay, not to mention interest and other risks, you should not easily decide to take out an online loan.

Think carefully about the risks that must be faced, lest you get stuck in debt online and can’t escape.

Non-transparent Debt Payment Report

Before taking out a loan, you must ensure the amount of interest and other fees that must be paid.

Do your own calculations and check carefully every payment report issued by an online loan company.

It is not impossible, in some cases, payment reports are not done transparently, especially for illegal loan companies.

Do not be lazy to ask questions and recalculate the total payments made to avoid greater financial losses.

Short Repayment Deadline

bank

The repayment period for online loans is fairly short, which is a maximum of 12 months.

With high interest and a short repayment period, of course, it will not be easy for most people.

Therefore, before experiencing difficulties due to debt collection, it is better to take into account whether you are able to pay debts and interest in a short period of time.

Also, note that online loans are not used as capital or to finance any business that has medium and long term profit potential.

If so, you will have difficulty repaying and paying off the loan.

Personal Data Can Be Leaked

Similarly, when downloading digital banking applications or other applications, downloading an online loan application also requires the approval of access requests for personal data, such as a photo gallery, location, contact telephone number, or camera.

Without agreeing to a number of access, the application cannot be used or some features cannot be used optimally.

This might seem simple, but it will have a big impact when it comes to online money lending.

Because giving consent, that means online loan companies can access your personal data.

It is not impossible that this data will be used by the company if something happens, such as late payment.

The company may come to the residence address or contact important numbers in the telephone contact list to collect the debt.

Not only embarrassed but also the discomfort you will surely feel. Not to mention the burden of debt and interest that continues to grow. This is the worst bit of a shadow if you borrow money online and can’t pay it on time.

 

Conditions Where Personal Loans Can Save Finances

Taking a personal loan to make ends meet is arguably not wise. Because the personal loan is certain to add debt so that it makes you more difficult when replacing it. Especially if you take a personal loan for needs such as vacations, buying a car, or getting married, then this is not recommended.

But in reality, there are still many people who take personal loans to make ends meet. They consider that taking a personal loan for needs is a natural thing. Especially if you really want something, such as a car.

Even if you really want to buy a car, there are institutions that offer car loans but with low interest and easy terms. This is of course lighter than having to take a personal loan to buy a car. But there are still many who do not know it, so they prefer to take personal loans. Are you one of them?

 

Involved in Debt Consolidation

Debt Consolidation

Do you know what debt consolidation is? this is a situation where a combination of several small loans forms one large-value loan. With this debt consolidation, you who have multiple debts at once can combine them into larger loans. The purpose of debt consolidation is to ease the bank interest paid when making installments.

In addition to being able to get lower interest rates, you can also be more comfortable when paying debts because you only have one loan. So every month only need to do one transaction. No need to make transactions many times which will also cost.

In conditions of debt consolidation this is the right time to apply for a loan. Because usually, the more the loan amount, the lower the loan costs or interest rates. So, if you have multiple debts at once, you can use a personal loan to consolidate debt so that the interest paid can be lighter.

Even so, debt consolidation is not the right solution for a healthy financial pattern. Debt consolidation only helps to merge debt into one lump-sum. If the monthly payments that you make under a debt consolidation loan will appear more. This is because the tenor or loan term is longer, which means the interest paid is also greater than before.

 

Paying Credit Card Bills

Credit Card Bills

You can take out a personal loan if your credit card bill is nearing the limit and there is no other way to make payments. Even though interest rates remain on personal loans, they are cheaper if you have to let interest and credit card fines pile up.

Because the credit card has a different interest system with a personal loan if it does not pay off each month so that the interest can be more. You will be inconvenienced because the bill does not pay off even though you have paid credit card bills every month.

Especially if you want to immediately use a credit card while the billing problem is not over, taking a personal loan can be a good solution. But if you pay off your bills with a personal loan, you need to start controlling the use of credit cards. Do not let the same thing happen again because not necessarily the next can get a personal loan easily.

 

Emergency

Emergency loan

In an emergency, you actually have to have a reserve fund so that the finances don’t get worse. However, if there are not enough reserve funds available, you can take a personal loan to make ends meet. Some emergencies include car repairs, hospital costs, or home renovation costs.

You can take out a personal loan because it is an emergency that cannot be delayed anymore. You may not have to wait to have money in advance to pay for all hospital treatment costs or buy prescription drugs. Moreover, if you are in critical condition and need help as soon as possible then there is no best way except to make a personal loan.

A personal loan process that doesn’t take long can also help you get funds quickly. So that emergencies can be overcome even though financial conditions are in an unstable state.

 

Make a Personal Loan Only in Certain Conditions

Personal Loan Only in Certain Conditions

Personal loans are one thing that can make Lite Lenders financial condition worse, especially if done in conditions that are not right. But on the contrary, personal loans can help financially under certain conditions. So make sure to only make personal loans under three conditions namely an emergency, to pay credit card bills, and debt consolidation.

Besides Online, Apply Credit Cards Can Also Be Here. The Process is Fast

Credit cards are now a necessity for many people. It’s no longer just a meaningless lifestyle. That’s because the benefits of credit cards make it easier for someone in financial transactions.

As credit cards ground, issuing banks are increasingly innovating. One of them is adding a credit card filing channel. Of all of which are only offline or conventional, now it has penetrated online.

As long as the customer is connected to the internet network, credit card applications can be done anytime and anywhere. No need to bother coming directly to the bank, so it saves time and costs.

In practice, offline credit card applications are still in demand by customers. The reason is that it is clearer. No more confusion because it will be directly served by customer service.

Actually, whatever method of credit card submission is chosen, it is your right. The bank only provides facilities. Want to go online, offline can be served. The following credit card submission methods that you can choose from include:

Come directly to the bank

Come directly to the bank

Many people or customers still entrust offline channels, such as coming directly to the bank to get financial services. For example, saving, withdrawing money, transferring and applying for a credit card.

Of course, there are pluses and minuses. The advantages of applying for a credit card directly to the bank, you as a customer will know in detail the information and features of the credit card clearly directly from the clerk, such as credit card limits obtained, the tenor or due payment of bills, interest rates, and others.

The drawback, of course, a lot of time, energy, and cost wasted. For example, to pay transportation costs to the bank, long lines to get services, and others.

Before coming to the bank to apply for a credit card, make sure you prepare the required documents, such as a photocopy of your KTP, NPWP, and salary slip. Then come to the nearest branch bank, then fill out the credit card recognition form and submit the requirements. Then just wait for the verification process from the bank.

Through credit card marketing

Credit card applications can also be done through the issuing bank’s marketing staff or staff. This method is better than coming directly to the bank because without a queue. It’s just that you need to contact one of the trusted credit card marketing.

Submit a photocopy of KTP, NPWP, and salary slip. Watch out, don’t get in the wrong contact with a fake credit card marketing. Your personal data might be misused or sold. Submitting a credit card through marketing must also complete the credit card application form completely.

If you’re lucky, you don’t need to bother sending the required documents to the marketing. Because marketing will come directly to your office or home to retrieve your credit card application documents.

By email   

bank

Don’t want to bother? Just send it via email. Previously, download or download the credit card application form online. Usually on the issuing bank’s website. Then attach the required forms and documents to the online credit card application email.

Practical is not it? All you need to remember behind its simplicity, the process of submitting a credit card via email can take a long time because your application may not be immediately responded to by the officer.

Via Online

Want to try something easier, submit a credit card online. Currently, the issuing bank has ventured into online channels to answer customer needs, including millennial generation. Online credit card applications can be made on the issuing bank’s website.

Usually, on the official website, you can see and compare several credit card products issued by banks. Then if interested, there is access to apply or submit online. Just click, then the credit card application form will come out. Fill in completely and correctly, then send.

Don’t forget to attach the necessary requirements. In the case of applying for an online credit card, it means that you have to move your KTP, NPWP, and salary slip documents from hardcopy to softcopy by scanning or taking photos. Then upload when submitting online.

Make sure in applying for an online credit card, you access the official bank’s website or website. Not the bully to avoid fraud.

Through fintech

money

One more way to apply for a credit card that is popular now is through financial technology companies or fintech. Usually, fintech cooperates with several credit card issuing banks in offering their products.

So on the fintech application or website, you can see and compare a number of credit card products issued by several banks. So it is not only the output of one bank. That way, you can choose which credit card product that suits your needs and financial capabilities.

One of them at Good Credit. Financial product marketplace that offers credit card products from a number of issuing banks. Just search, choose according to your needs and submit online submissions via the Good Credit website. Then your application will be processed immediately by the clerk in a short time.

Submit a Credit Card at the Right Time

Submitting a credit card should be done at the right time. Ie, when your finances are ready by having a permanent job, often transactions in the form of cashless or non-cash, often travel abroad.

Most importantly, apply for a credit card when your finances are stable or not being entangled in a pile of debt. Have a credit card must be ready with a debt bill. Now if your debt is more than 30% of a month’s salary, having a credit card will only add to your financial burden.