Apply for car loan bad credit -Guaranteed car loans for bad credit

Guaranteed car loans for bad credit

Why apply for a car loan?

Nowadays, financial organizations, like banks, offer offers that save us from waiting years to have a property that can be acquired from the moment. Among the alternatives, there is a mortgage that is always associated with a major project of life: become the owner and/or generate rental income.

However, the purchase of a vehicle also represents a significant budget. In order to have sufficient funding to invest in such a project, you can Check Out a guaranteed car loan for bad credit.

Motor credit refers to a type of loan dedicated to the purchase of a used or new car. It belongs to the class of consumer credits. The loan can be used, depending on the applicant’s financial situation, to cover the entire project or only a part of it. To apply for a car loan, you must provide a voucher, such as the sales certificate or purchase order.

The car loan is essential for any household wishing to buy a vehicle, but not having enough money for expenses related to the purchase. For some, the use of this type of loan avoids the payment of a large sum of money in one go; a situation that may lead to budget management problems.

In fact, for many families, and expense of this size can have an impact on the coverage of daily living expenses: the payment of bills, school fees, rent, possible care expenses, etc. There will be more savings to deal with the unexpected.

The monthly payments of a car loan are calculated according to your income, so as to avoid your over-indebtedness. Knowing the benefits of auto credit, the number of people seeking this kind of loan continues to grow.

The content of an auto credit agreement varies from one institution to another. There are specific clauses to check to make sure that an offer is really advantageous or not.

Towards which credit institution to turn to?

Towards which credit institution to turn to?

To apply for a car loan, you can use different types of financial institutions, namely: the traditional bank, an online bank or some insurers. However, a dealer of a car brand can also offer this type of credit to its customers.

The classic bank is the first alternative for any credit application. Due to the proximity between you and your bank, you can easily get a loan. In addition, a customer service representative can take care of you with useful advice. However, the negative point with this option is that credit rates are higher.

Online banks are preferred for their ease of access. You do not have to travel to know their offers and have details of their activities. To attract customers, these institutions often offer attractive rates and may even offer the possibility of credit to zero fees or associate various free services to their offers. A comparison is then essential before deciding which organization to contract a car loan.

Some insurance companies offer auto loans. These professionals make you benefit from their expertise in the field of insurance and accompany their offers with the necessary insurance. TEGs and the quality of services associated with loans from insurers are competitive.

Car dealerships work in partnership with financing companies. Thus, they can facilitate the purchase of a vehicle by offering you a car loan. The steps are also simplified.

Factors not to be neglected to identify a serious establishment

Before focusing on credit and its costs, it is important to know how to identify serious institutions, especially if you recommend choosing an online credit institution. It would be wiser to learn about the reputation of an organization before committing.

Sharing information at the level of forums and social networks is a great help. It is also possible to find out from relatives (colleagues, friends, family members, etc.) to identify a reliable establishment.

A serious organization is really interested in the solvency of its customers. In this sense, he will ask you for information about your resources, your family situation, your state of health, in addition to the vouchers of your car purchase.

Therefore, if an organism with a low reputation seems to be totally uninterested in your situation, you must be vigilant. A credit rate that is too low can be questionable. This can hide, for example, high fees. An abnormally low-interest rate can also deprive you of some useful possibilities in the clauses of the contract.

You will not be able to take advantage of a possibility of moderation of refunds, a solution that can save you in case of financial difficulties that may impact your ability to pay your monthly payments. The moderation of repayments is a form of flexibility granted regarding the payment of your debts.

This may be a reduction in monthly payments or an extension. With an auto credit agreement with a clause that allows deferral of payment of monthly payments, you can avoid a situation of over-indebtedness or default of payment.

To avoid regrets, do not sign any contract without understanding the content. You must first inform yourself about the profitable clauses that must appear in a car credit agreement. By doing so, you will avoid possible pitfalls. A manager at the school will help you understand the technical words you can not understand.

To help you choose a serious establishment, you can make comparisons with the help of a specialized broker. The use of a website providing an auto loan simulator is also interesting.

How much can I actually pay for a car?

Driving is an expensive task no matter where you live in the world. Especially in Canada, with our legendary winters. With these winters come rust, potholes, black ice and skirmishes, as well as anything that is exposed to the sun and causes wear and tear on vehicles. But of course, the weather is not the only thing that increases the level of damage to our cars and decreases their value.

Gasoline, maintenance, insurance and records must be taken into account in determining the true cost of owning and using a car or truck of any type. People who regularly drive a car no longer have surprises. Cars cost money with every acceleration and braking. Some people have no problem dealing with these costs, while others have to put all their money together to make their payments.

New cars, in particular, are dangerous for the finances of many people from the time of purchase to sale. Even used cars have all kinds of problems. That being said, for many people, driving is a necessary evil they must have in order to make money. Again, all this money often ends up returning to their car. Our question is: How much can you afford for a car? If you’re a regular driver and you’re considering buying, renting or financing a car, you need to ask yourself this question before making a big decision.

 

What are your options?

car loan

For the argumentation exercise, suppose you do not own a car. Some people have the chance to inherit the kitty from a family member. Maybe they managed to find a good deal on Carjie Financing. For older and more used cars, drivers face general problems such as fuel, repairs / maintenance and insurance.

However, they will probably not have to worry about other issues, such as down payment, warranty expiration, monthly payments and interest on a new or slightly used vehicle. In fact, buying a new or slightly used vehicle is another thing in some respects.

All these problems with new cars are things that most drivers are willing to ignore in order to move around. Thus, because of this desire for convenience, most of the time, these same will not rethink these problems until it really becomes a financial problem.

When you earn enough income and drive a car of the year, this type of problem may seem far away. Only when you realize that you have no extra money as your bank account begins to suffer. So for all these reasons, you must be very sure that you really need a car. Consider all of these options before starting to visit dealers.

Is public transit a viable option? Can you walk or bike instead of driving? Why not buy a scooter or moped? Again, depending on where you live, public transit may not even be accessible, as in rural areas. Taxis and Uber rides accumulate quickly. So, if there is no bus or train in your municipality, driving your own car might actually be the only way to get from one place to another.

 

What type of car are you trying to have?

What type of car are you trying to have?

Imagine that you are thinking of buying a new car, or at least a used car, less than 10 years old with less than 100,000 km. Research is essential for any major financial decision and the purchase of a car is no exception. You can and should ask yourself a lot of questions before jumping on the first vehicle that catches your eye. Here are some of these questions:

  • What kind of car do you want? A car with a suitcase, a sedan, an SUV, or a van?
  • What color will it be? Believe it or not, some colors may actually be more expensive than others.
  • How much will you pay in essence for each of these choices?
  • How easy and affordable will maintenance be for different makes and models?
  • How are you going to pay for? Do you rent, finance or pay in cash?
  • In case of financing, do the dealer or your bank offer a better rate?
  • How much will your payment be?
  • What will your payments look like? Monthly, weekly or biweekly?
  • Will the car be covered by a warranty? If so, for how long and what will it cover?
  • How will the cost of the vehicle affect your finances in the near future?

Obviously, not everyone can afford a new Ford Mustang. So, as a simple example, we are going to use a car that is a little more reasonable and more fuel-efficient, like a Toyota Prius. The average price of a 2017 Prius Core is $ 29,404. We assume you can not get to the dealership with almost $ 30,000 in your pocket.

We will therefore choose the financing by the dealer. In general terms, the minimum duration of available funding is 36 months (3 years). You can choose to extend this payment period in 12-month increments (84 months being the maximum), but we will only use 36 months as an example.

If you choose monthly payments, it means that you will pay $ 816.78 per month for 36 months. It does not include GST, QST, tire taxes, interest payments and all other expenses related to the car. Once again, the Prius is one of the most economical cars on the market. Imagine a van, SUV or sport car.

For some, this price might not seem unreasonable at all. Know that instead of spending a year’s salary on a new car that you may not be able to buy back later, you could put almost $ 10,000 in your RRSP or similar account in those 36 months.

 

Depreciation of vehicles

Depreciation of vehicles

All things considered, be aware that by the time you finish the payment period, you could end up paying a lot more than what the car really is worth. Almost all cars and trucks are depreciating over time. In fact, most cars lose about 9% of their value as soon as you leave the dealer’s parking lot, 19% by the end of the first year. It is not a problem if you plan to buy the car, drive with it and get rid of it after a few decades. However, if you want to sell it at any time, do not set your expectations too high, because it is likely that you will never reach what you have invested.

This does not mean that buying a car, especially a new one, is always the wrong choice. These are all questions that must be taken into account before embarking on tempting offers, regardless of your income. If you absolutely need a car and are worried about being unable to make payments, consider buying a used car instead until you buy something newer. It is better to drive a small car and not have to worry about basic problems than to get your car, or to go bankrupt after several late payments.

 

Reduce costs and save for the future

Reduce costs and save for the future

Once again, if you insist on owning a car, it might be better for your finances to buy a used car. Not only will a used car be cheaper overall, but your payment term, if you fund it, should be a little shorter than that of a new vehicle.
Just make sure that you also consider all the other unavoidable expenses related to the car before making your decision. Let’s face it: a car will make holes in your savings, whatever its make or model.

Even when driving an old small car, if you want to keep it intact, you will need to be diligent and bring the car to the mechanic on a regular basis, taking into account parts and labor. For people who live near a transit system, you can try to use it occasionally, instead of taking your car every time. This can also save you a decent amount of money in the long run.

All in all, everyone’s financial situation is different, especially for those of us who need a car to get to work, school or grocery store. There are cars of all shapes and sizes. Some are cheaper than others, some consume more gasoline. Whichever car or truck you are looking to buy or drive now, it is also important to book money for the future. And when we say “the future,” we do not necessarily mean for your retirement.

It is difficult to predict future events, whether they occur tomorrow or in several years. As a consumer, we tend to spend. You could save with your rent, and the next day you get in by another motorist and have to use all your savings to make the necessary repairs and no longer have an advance for your rent.

To conclude, we are not dissuading you from buying a car, we are just trying to give you an idea of ​​what your car could cost you in the next few years. Any decent car can be a valuable tool that you can use to progress in life, provided you work hard to take care of it. Always keep in mind that a car is a responsibility that could lead you to a better financial future, so take care of it and drive carefully.

Credit Card: How Does Interest Work?

Using your credit card enough? Is it those who make smaller purchases or monthly and recurring ones? No matter what the frequency of use, but do you know how your credit card interest rate works? Is he an ally or arch enemy of your budget? Do you already know how it works? And the interest rate? Legendary explains to you in this post.

 

How does credit card work?

How does credit card work?

Upon requesting the card and reviewing your financial profile, a monthly credit limit will be made available. After the 30-day period, you will receive your credit card statement and you can choose between full or partial payment. If you pay in part, be aware that this practice is dangerous if you have no financial discipline, as the debt may get bigger than you can reconcile. This is the famous revolving credit .

To hire him you must pay any amount between the minimum and the total of your invoice. The missing amount will be automatically funded and posted the following month with interest. This mea

ns that if you paid the minimum invoice this month, you will not be able to resort to the minimum the following month.

What am i paying for?

money loan

Still don’t know NiceOne Bank Resolution CMN 3.919 / 2010? Through it, it was possible to establish 5 basic credit card rates – the card that has no reward and / or loyalty program:

  • Annuity : charged once a year, the financial companies may installments the amount over the 12 months;
  • Emergency credit : When does the card limit break? Yes, there is a charge for this type of operation;
  • Monthly invoice : After 30 days of use you will receive at home, or digitally, the monthly card bill for the minimum or full payment;
  • Card withdrawal: Does the credit card withdrawal have no fee? Yes there is! And it is one of the highest!
  • Duplicate: it was stolen, stolen or simply lost? You may pay an amount to get the duplicate.

 

And how is the interest on the invoice?

Let’s say your revolving credit monthly interest rate is 12% and your credit limit is $ 800.00. In a given month you use the total limit of $ 800, however, you can only pay $ 400. When the total limit is not reinstated, there is still a charge of 2% late payment and 1% late payment interest.

Therefore, on the next invoice, you will not only pay the remaining $ 400.00. But yes $ 230.00. Why?

  • Remaining invoice : $ 400,00;
  • Revolving credit interest : $ 96.00 (12%);
  • Interest due on delay : $ 16.00 (2%);
  • Default interest : $ 8.00 (1%);
  • Next month’s invoice : $ 520,00.

 

How to know the interest rate of my card?

credit loan

To know the interest rate of your institution’s credit card there are two possible ways. One is to check directly with the card company, which is often your own bank. But if you have a Nubank card, for example, revolving interest rate information is found under the “My Account” option.

The other possibility, especially if you are still looking for the best card to hire, is to check the rates of credit transactions reported on the NiceOne Bank website.

 

When is it worth splitting?

credit cards

When we make an installment payment using a credit card, it is as if we made a loan. If the installment is interest-free, it may be a good option for anticipating a dream or need, but when it comes to an interest credit, you need to be aware.

If you would like to install an interest card purchase, you should look at the Total Effective Cost of the transaction. This means that in addition to considering interest you must consider the other fees involved in the transaction.

Remember that some establishments may offer discounts on spot purchases. Therefore, you need to compare the various forms of credit and see if this discount is higher than the interest you would pay on a loan, for example.

 

Other options

money loan

Those who do not want to pay high credit card interest may opt for other loan lines with much lower rates. The personal loan remains one of the best options for those who cannot pay the full bill and do not want to default or bear high interest rates.

What is a third chance at car credit?

As you can quickly guess from its name, the third chance at car credit is a solution offered by financial institutions for people who have a bad credit rating but who want to be granted financing for their new automobile. This third chance aims to propose financing plans. Let’s see if the third chance at car credit is just a solution or a real opportunity.

 

The third chance at credit: definition

credit loan

The third chance at credit is the term for different auto financing programs that are offered by conventional financial institutions. These programs are offered to people whose funding request is considered high risk and whose conventional funding programs are not accepted. Indeed, each request for financing a car loan requested from a conventional financial institution is subject to a decisive evaluation which involves observing, among other things, the credit applicant’s history and credit rating.

 

A car loan financing program: details

car loan

A third chance financing program may, for example, and in many cases, involves pre-leasing an automobile. Because the financial institution starts by renting an automobile, it takes much less risk of having its reimbursement not made because it remains the owner of the vehicle until the borrower has paid the loan in full. In most cases, according to the contracts offered by each financial institution, the residual value is low and the borrower can buy the car at the end of the term of the loan. The majority of requests made to financial institutions are accepted because the banks take almost no risk. In the worst case, they can resell the vehicle.For this third chance to be accepted, it is then in most cases necessary to pay an amount that will pay for the depreciation of the automobile. This corresponds to around 20 to 25% of its initial price.

The pros and cons of a third chance at car credit

car credit

  • Advantages: Because the third chance is always an open contract, it is possible to stop it by buying it entirely at any time. In addition, this type of financing is considered a commitment that increases your credit rating with each payment made to your financial institution.

  • Disadvantages: These funding programs are often very expensive but also incentive. Indeed, you must always be careful to choose an automobile whose price will respect your budget in the long term so as not to get into debt with a financial institution for too many years. In addition, these financing programs require interest rates which are generally around 30%, which can quickly ruin you. Finally, financial institutions often sell additional insurance and guarantees to drive up the final bill.

Because it generates a lot of additional costs, the third chance at credit is not always the best solution available to you to be able to finance the purchase of a new car. Another alternative is to request a short-term loan from a private company specializing in personal loans, which will lend you a small amount in the short term without doing a credit check, but only according to your repayment capacity. More advantageous, these personal loans allow you to target the acquisition of a car that respects your budget and to have interest rates lower than the third chance at credit with financial institutions.

Know: Which score is good for car finance?

The desire to buy a new car comes up against a common dilemma: “Which score is good for financing?”. One of the main points in evaluating a buyer to finance vehicle is the credit score. This value is a result of the payment habits and the citizen’s relationship with the market. If the score is low, hardly any financial institution will authorize any type of business.

You, your neighbor, your mother or your uncle are constantly evaluated from your Kerasa Score. Having good credit in the square means being able to easily apply for credit cards, apply for loans and, of course, make bank financing. If you have tried to create a credit card with no annual fee, for example, and have been declined, it could mean that your score is low.

If you are unsure which score is good for funding and are afraid of having your proposal declined when purchasing a new car, the time has come once and for all to understand how credit score works and how to increase the score.

 

What is score?

credit score?

Before understanding which score is good for funding, you need to know exactly what this index means and its functionality. As we mentioned above, in order for companies to authorize or not authorize some kind of business, they need to know how trustworthy this customer is. To measure this confidence, Kerasa takes into account different information to generate an index, which ranges from 0 to 1000 points , presenting the possibility for the client to meet their debt payments.

The closer your score is to 1000, the higher your score is and the most likely you are not to delay your accounts. Already if your score is closer to 0, it is a low score and shows that you probably don’t pay everything on time.

 

But after all, what is taken into account in this score in the Score?

financial score

There are a number of factors that influence score scoring from a combination of information in the Kerasa database and related queries by service customers. They are checked if the person’s name has been filthy, if he / she usually pays the bills on time, companies that the citizen relates to, has bad checks, possible search and seizure actions, participation in bankruptcy or bankruptcy, default annotations, among other aspects related to the financial profile.

In addition to the personal profile, the score on the score also includes the level of default and the volume of economic activity of the city or region in which the person concerned lives.

 

How to consult the Kerasa score

How to consult the Kerasa score

Did you know that you can consult your CPF score for free? To know which score is good for funding you must first have a real idea of ​​how much your score is currently. Through Kerasa Consumer website you can see this value and compare with the average related to your age and region. Check out a step by step how to register and access:

Step 1

Visit the Kerasa Consumer website and click on “Consult Now”

Step 2

If you already have registration, simply enter your data. If not, you can sign up with Facebook, Google account, or an email. To do this just click on the desired option.

Step 3

Fill in the registration form with CPF, Full Name, Date of Birth, Email and password of at least eight characters, without containing the first or last name present in the registration.

Step 4

After completing the completion, you will be asked to validate your registration via email or phone.

With validation, you will be redirected to the main page that will already have your Kerasa Score score and an assessment of what your current situation is, ranked low, medium and high.

 

Finally, which score is good for funding?

Finally, which score is good for funding?

The time has come to know which score is good for funding. In fact, we regret to inform you, but there is no practice in specific credit score score to ensure your approval of a vehicle finance. This is because it depends on each financial institution and other aspects that can be analyzed. However, scores above 700 points are considered good grades and may end up having a higher chance of getting the funding approved.

However, if you have had a negative history with a financial institution, such as letting an account be delayed or waiting for the statute of limitations, this could be detrimental to you.

It is therefore very important, rather than having a high credit score, to have a more conscious and balanced consumption behavior , avoiding creating debts that you will not be able to pay or putting yourself at risk by delaying bank payments, such as credit card payments. . . Having good relationships with the bank has the same effect as having good relationships with friends and family.

But of course you should not stop worrying about your score. As much as you have seen the answer to the question, “ Which score is good for funding? ”, Be it“ depends ”, it is always important that you take care of and track your score. If you seek to increase it, the first step is to clear your name . Seek to renegotiate your outstanding debts and get your CPF off the delinquent list. Contacting the outstanding financial institutions that you are interested in renegotiating shows that you are a customer concerned about your debts.

We hope we helped you understand a little more about which score is good for funding and how your score influences at that time. Here at Automotive Shopping we perform the analysis and approve your credit on time. Count on us when it comes to financing your new car !

Used car credit: pledged car, buyer-seller, how to do it?

What is a pledged car? What implications for a sale? How to raise a pledge on a vehicle? Pledge and used car loan, what should we expect? So many questions that must be answered before committing.

Pledged car: what does it mean?

Pledged car: what does it mean?

There is generally a little confusion between the designation of pledged car and of pawn car in prefecture. The fact that the pledge is not registered at the prefecture does not mean that the car is not pledged. Staking a car means that a person, generally a borrower, undertakes to hand over the pledged vehicle if he is unable to execute the contract which binds him to his creditor (credit agreement with the financial institution).

In other words, it is not because the auto credit organization does not register a pledge in the prefecture, that the vehicle is not pledged. Basically, a car is pledged from the moment when the initial credit agreement (which was used to buy the car the first time) contains a clause indicating that the lender must be asked for the right to resell the car. This is particularly the case for new auto credit.

Point of vigilance when buying a car

Point of vigilance when buying a car

When buying a used car, the seller is supposed to provide a certificate of non-pledge administratively called certificate of administrative situation. This certificate of non-pledge must be dated less than 15 days. It attests to the absence of registration of pledge on vehicle, and a certificate of absence of opposition to the transfer of the registration card.

NB: if the seller of a used vehicle is unable to provide this document, it is probably due to an administratively pledged car. To verify this, it is possible to obtain a certificate of non-pledge free of charge on the website of the Ministry of the Interior: request for a certificate of non-pledge. (you still need to have some info from the registration card).

However, it is therefore possible to obtain a non-pledge certificate for a pledged car! It all depends on whether the initial credit organization has registered the pledge in the prefecture or not. This certificate is therefore not an absolute guarantee that there is no pledge linked for example to the first credit contract which was used to sell the car. So you have to be careful when you want to buy or sell your car with an outstanding loan.

On the other hand, when you buy a used car on credit, financial institutions and banks no longer take a pledge (generally it is a credit contract not allocated to the sale). This administrative lock costs them money. However, a pledged car that they would come to seize in the event of a problem with repayment of the used car loan would not bring them much money compared to the age of the pledged vehicle.

This is also the reason why used car credit is a little more expensive than new car credit. It is therefore even more necessary to compare the best used car loan rates.

How to raise the pledge of a vehicle?

In order not to block the sale of a pledged car… the pledge must be lifted. For this, there are not 36 solutions, the bank or the credit company having registered the car pledged at the start must have it raised in the prefecture. Until this is done, you should not buy the pledged vehicle.

You should not buy a pledged car otherwise you expose yourself to a significant risk. Indeed, if the seller of a used car has not yet finished repaying his car loan and there are repayment problems, the initial credit organization will be entitled to seize the car. The purchaser of the second-hand vehicle can therefore have his car seized when he has purchased it quite honestly.

Tips when buying a used car

  • Obtain a certificate of no pledge of less than 15 days from the seller
  • When negotiating, try to find out how the seller bought the car initially and whether the car loan has been repaid.

What is the ideal credit card limit?

You just think about taking that little piece of purple, yellow, red plastic no matter what color, but have you ever thought about the credit card limit and how much it influences your financial health? Well check out these tips, because today is the day to understand how to use the card to your advantage.

 

Credit card limit

Credit card limit

You don’t even have to have a bank account to have your own credit card, but you can’t forget that along with the thrill of receiving it you also get a big responsibility. People tend to hire the card with the anticipation of dreams in mind, but without proper care that little friend can create a very big headache.

Look at your wallet. How many credit cards do you have? What is the limit each of them has? And the fees, which ones do not have free annuity? Yeah, you might not have thought of it before, but your wallet already weighs the responsibility of the choices when paying for purchases.

Still in doubt about it? So answer yourself, if you spent all your credit card limits today, would you be able to pay the debt without falling on the revolving interest?

 

How not to make mistakes in shopping

How not to make mistakes in shopping

The bank may have given you more limits, but you should define how much you can spend without losing your financial health. To do this, follow some basic advice we give below:

 

Do the math

Add the limits of all your personal or family cards if the budget is shared. If the amount is higher than your income, start eliminating those you don’t need or talk to your bank about lowering the limits. This keeps you from falling into temptation and does not curl up by doing more than you can afford.

 

Have a daily limit

Ideally, your card limits should not exceed 30% of household income. So take the value of your salary, find out how much is 30% and divide the amount by the number of days in the month. This way you will know how much ideal maximum to spend. If your salary is $ 3000, for example, your card limit should not exceed $ 900 per month. This gives you $ 30 a day.

 

Limits high for emergencies only

Everyone can try an emergency and as the name implies, it is something unplanned that came up unexpectedly. This means that you may have a higher limit card, but how about taking it out of your wallet and leaving it at home? So you will only use it in cases of extreme need, unforeseen events and emergencies.

 

Write down the installments

Have in your budget all installments of an acquired debt. This prevents the value from being forgotten and you eventually reach the ideal limits.

 

I can’t pay the card bill

I can

If you just figured out what the ideal amount of credit card spending was and you just got lost in your bills, it’s important to be aware: the interest on the revolving is so high! Therefore, it is time to resort to another type of credit with cheaper rates. Personal loan may be the best solution.

Increase your credit card limit

Do you have a Visa or Mastercard type credit card and want to increase the limit? Increase of permanent or temporary limit, how to go about it? Explanations.

 

Who determines the limit on your credit card?

credit card limit

When you apply for a credit card from a financial institution, the latter will study your creditworthiness in order to determine the maximum limit for the card. This limit will depend on:

  • Your income: the limit will thus vary between 1,000 dollars (low income) and 3,000 dollars or even 5,000 dollars (high income).
  • Your financial history: in case of negative registration with the ZEK (see here for more details), your credit card limit may have been lowered, or the card may even be refused.

The problem is that once the limit has been determined for your Visa or Mastercard, this limit will not be automatically adjusted in the event of a change in your financial situation. It is then up to you to take the necessary steps if you wish to increase the limit of your credit card.

 

Increase of the ceiling of your Visa / Mastercard

credit cards

There are two types of limit increase: temporary increase, and permanent increase.

  • The temporary increase is an increase in your credit card limit for a maximum of 1-2 months. It is ideal for going on vacation or if you have an expensive purchase to make.
  • The permanent increase consists in raising your ceiling permanently.

 

Request an increase in the ceiling

credit limit

The most common step is to request an increase in your credit card limit. This can be done either in writing or directly online (if you have online access to your credit card account). To request an increase in the ceiling of your Visa or Mastercard:

  • In the case of a temporary increase: it is easy to obtain an increase even if your income has not changed. You just have to justify the request by going on vacation or making a purchase.
  • In the case of a permanent increase: it will then be necessary to justify the possibility of raising the ceiling, generally by salary slips attesting an increase in income.

 

Temporary increase without request

Temporary increase without request

If you have the funds, it’s very easy to temporarily increase your credit card limit: you only need to pay more than your monthly bill. The balance paid in excess:

  • Will be deducted from your next invoice.
  • Increase the limit of your Visa or Mastercard.

Online loan – how to take care of security

When your money is at stake, security comes first. How should you protect your finances when you take out a loan online? What should you pay attention to when providing your data via the online form? How to protect yourself against data theft? Familiarize yourself with the basic threats and learn how to defend against them.

Credit over the Internet and the possibility of visual theft

Imagine you want to take a quick loan online. Turn on the computer, fill out the form and … wait a moment! He will look around. Are you absolutely sure that no one can see the information you enter? The first thing you should take care of when taking a loan online is privacy. Take care that when filling out the application no one can view and read your data. Visual theft is an increasingly common form of illegal acquisition of confidential information. The data can be used for illegal activities, such as shopping, taking a loan or carrying out illegal transactions. Therefore, when you take credit online, avoid public places, including coworking spaces or offices.

Online credit and online transaction security

Online credit and online transaction security

Are you afraid that sending data via the Internet is in itself a risk? It doesn’t have to be this way. It all depends on the security of the site. If you decide to make a quick loan online, always check that the website you are using offers an encrypted connection. It takes place thanks to a document called a certificate. This connection guarantees greater security of your data. In short, it consists in the fact that the information during the transfer is encrypted on the user’s computer and decrypted on the bank’s website. In such circumstances, reading or falsifying information is very difficult because it would require breaking the code.

How to avoid identity theft by taking a loan online

How to avoid identity theft by taking a loan online

Did you know that your personal data is of great value to thieves and hackers? Your address, contact number,  number and ID number are enough to make an illegal transaction on your behalf. Thieves can use this information to take out a loan or make expensive purchases. You should protect yourself, especially when taking loans over the Internet. Sometimes, fraudsters can impersonate representatives of financial institutions. Therefore, do not give your data to any third parties, if you are not 100% sure that they are employees of a bank that grants a loan online. If you have any doubts, contact the bank and ask who and in what circumstances will contact you. If you have printed documentation containing your data, never throw it in the trash. When you want to get rid of it, use a shredder.

Online loan as an alternative to the banking offer – what to look out for

Online loan as an alternative to the banking offer - what to look out for

The loan via the Internet, unlike the loan, is only available in banks. The loan can be offered by a non-bank company. There are many loan companies. Before using the services of any of them, first look carefully at their offer and choose the one that best suits your needs.

In addition, check carefully the information about the loan company whose services you want to use. The company granting such loans should provide on its website all necessary information regarding the amount of fees and any possible complaint or extension of repayment time. The lender’s website should also have a special calculator that you can use to easily calculate your installment amount. Also check what position your chosen company has in the lender rankings. Opinions of other Internet users can also be helpful. If you have questions or comments, please contact the lender directly.

Online credit and security: what else is worth knowing?

Online credit and security: what else is worth knowing?

When you take a loan via the Internet or an online loan, always calculate your budget carefully and think about whether you will be able to pay back the money borrowed on time. Credit or loan is a good form of financial support as long as we use them responsibly.

Car loan or cash loan?

With rising fuel prices, it is said that it is easier to buy a car than to maintain. Indeed, prices, especially for used cars, have dropped considerably. Despite this, a lot of borrowers have a big problem buying a car using their own funds. Therefore, many among them must use the funds obtained from a cash loan.

Banks also offer a car loan for buying a car. In many cases, however, it turns out that buying a car with a traditional cash loan is definitely better than a car loan. It should be completely different. A car loan should be cheaper because it has a car security. With what financial instrument would it be best to buy a car?

Car loan – when to use it?

Car loan - when to use it?

It is best to buy a new car through a car loan. Car dealerships often have favorable agreements with banks. In this way, encouraging customers to purchase a vehicle through them. So let’s check if there is a salon near our place of residence offering a favorable contract with the bank. Dealers are also assisting in completing the formalities related to applying for a loan. In exchange for the fact that the customer decides to buy a car through them, they also offer additional promotions, such as cheaper insurance.

However, those who want to buy a car with a large number of kilometers driven, ie buyers of used cars, will have a lot of trouble getting a car loan. Most banks do not grant car loans for the purchase of cars older than 10 years. In addition, the bank may require additional insurance. As a result, the cost of granting a car loan for the purchase of an age vehicle is high. It often exceeds the cost of providing an equivalent cash loan.

Do you buy a used car? Take advantage of a cash loan.

Do you buy a used car? Take advantage of a cash loan

As we all know, we can take a cash loan for any purpose. Keeping an eye on the car is quite old, but in good condition it will be much easier to purchase it with a cash loan. The bank will not consider what we want to spend money on. Think about cash loans before you start looking for the car you are interested in. With cash on your account it will be much easier for us to take advantage of really attractive offers. We will be able to easily look at individual offers, no one will impose on us how old the vehicle should be. A cash loan for buying a used car can also be definitely a better choice because you won’t have to pay insurance costs. Banks are also reluctant to grant a car loan for cars whose age at the end of repayment will be more than 10 years. Of course, the lack of collateral will translate into higher interest. Analyzing individual offers, there is quite a chance to hunt for a really good cash loan offer. A positive credit history can help us.