Whats The Best Option? Credit Cards or Personal Payday Loans

You will find on the market various options that will allow you to borrow. In each of them, you will choose characteristics that will suit you. For example, you can borrow using a credit card instead of getting a personal payday loan. You will then have to decide whether you want a secure, standard credit card or that offers travel rewards.
Of course, lenders and credit card companies will dazzle the benefits of their means of borrowing, but they will not mention the disadvantages attached to them.
So here’s what you need to know to get as smart as possible.

 

When do you consider credit cards the best option?

When do you consider credit cards the best option?

You will consider credit cards as the best borrowing option, only if you can repay the money you borrow very quickly. Credit cards often offer higher interest rates than personal payday loans. Even if they offer you a lower interest rate, credit card companies require only a minimum payment each month. This means that it will take longer to repay the loan and you will end up paying higher interest overall. If you can pay in full for one or two months of purchases, then consider credit cards as a good option for you. However, if your balance is lagging behind, choose another loan method.

 

When do you think personal payday loans are the best option?

personal loans

You might consider personal payday loans as an interesting solution because you can repay them in installments. This makes them easier to manage. While you can use credit cards again and again, personal payday loan offers you a set amount. He does not encourage you to accumulate more and more debt.
Banks often offer you a minimum loan above what you need, this is the main disadvantage. Instead of getting one more than you need, ask for a personal payday loan online. These online providers generally do not require a minimum amount. You will only borrow $ 300, if that’s all you need. Thus, you will better control your debt.

 

Cash advances by credit card

Cash advances by credit card

Except in an emergency, you generally prefer to avoid credit card advances because they cost more in fees and interest rates than another loan. In addition, if you have to pay off your credit card before paying the cash advance, your interest rate will be high for a long time. If a few hours of waiting do not annoy you before getting your money, why not ask for a personal payday loan online? You will get the same result as a cash advance. The best online lenders will provide you with the amount of money needed in a matter of hours or by the end of your working day.

Do you need to increase your credit card limit

Nowadays in Brazil it is difficult to find who does not have at least one credit card in the wallet.

When well used, it could be the salvation for those last-minute purchases that were not in the planning but could be paid off in the following months.

For this you need to have a good credit approved with the financial institution, which is not always easy to achieve.

But how do you know if there really is an increase in your limit? See our tips!

How to increase?

How to increase?

Many people carry the same card for years. Sometimes from the time you opened the account because of the first job. That’s exactly why people find it difficult to raise the limit. In general, banks calculate the maximum credit according to the customer’s remuneration. So if the card was made while you were still an intern, the limit will probably be low.

Not all financial institutions follow the same criteria when pushing for changes in the ceiling. Most do not give credit greater than 30% of the customer’s gross income. Private banks usually grant the increase according to the customer’s profile. So if you borrowed and were a good payer, for example, you’ll be closer to getting the raise. Public institutions focus on the income of the worker. Therefore, you will need to get to your agency and prove the change in income.

When to increase?

When to increase?

Before you ask to raise the threshold, you need to evaluate whether you really need it, otherwise you are asking for a value that you can hardly remove. After all, credit works as a kind of loan.

Your purchasing power is higher: it may be worth increasing the card limit

With more money in mind it may be interesting to increase your credit card limit. After all, now your purchasing power is different and probably the purchases and bills will be more expensive. Raising the limit is worth especially for those who want to make big purchases, such as furniture, for example.

If you just want to raise and want to buy new appliances, the card is a good alternative to not compromise the budget of the month. But be aware of the value of the plots!

You want to achieve goal and need payment flexibility

Raising the limit also be the chance to make that dream trip. Parceling several times, without interest, is much easier than paying everything in sight. But remember: if your limit is $ 3 thousand, for example, purchases will not exceed this amount, even if the installments are much less than that amount.

You need to calculate the total amount, analyze if it’s worth spending it to reach that goal and make a good installment without interest.

Why increase?

Why increase?

Credit cards yield some benefits. The advantages will depend on each financial institution, but in general, the more you use the card, the more it accumulates points. At some banks, these points can be redeemed for airline miles, shopping, and other benefits.

So, in this case it may also be interesting to increase the card limit – always remembering that you have to increase your income to be worth it – and thus be able to enjoy all the advantages offered.

Credit card debt is one of the reasons people get their names included in Serasa and SPC, a problem, especially for those who want to finance a property or a car, for example. Just be careful with your credit card and only increase the limit if you really can afford it.

 

Payday Loan: How to apply for it? Here is the Guide

What should you do to get a payday loan? What are the different options that the bank offers and which ones are the most convenient?

With this guide on how to get a sum from this bank we will see what are the steps to follow.

Here’s what you need to do to get the perfect loan for you and your desires!

How to get the payday loan with this group

loan

It may happen that you need money to fix a house or a vacation or to solve some problems. Allows you to choose the right option for you.

To apply for a payday loan, you can choose to apply for a branch or apply for a loan online . In this second hypothesis you just need one click and in general you can open the file and get the money in 48 hours. In just two days you can get the money in your account.

To calculate the installment to be paid each month just make a quote, which can also be requested online. Simply enter your data in the appropriate form, the amount you need and the number of installments in which you decide to return the figure.

The quote is free and is not binding on the request for the loan with Bper and allows you to get an idea of ​​the expense and the cost of the installments to be supported, as well as allowing you to have a track on the repayment duration and interest.

Just remember that the more months to return the sum, the more the monthly payment is reduced, but in this case the interest goes up. For this reason we recommend finding the middle ground between the payment term and interest. That way you won’t waste too much money on interest.

Offers various financing options depending on age, purpose and amount. The options are divided into:

  • Mini loan : a short loan with a maximum amount of 3 thousand euros and a repayment time up to a maximum of 12 months. This loan is obtained quickly and with reduced costs;
  • Light Loan : the loan that allows a maximum of 30 thousand euros to be repaid up to a maximum of 72 months.
  • Payday Loan: Also called a personal loan
  • Fixed rate or variable rate : a loan for an amount from 3 to 30 thousand euros and can be repaid from 12 up to a maximum of 120 months. You can choose a fixed interest rate or a variable interest rate;
  • Home Value Loan : for domestic work or for the energy requalification of the building. The loan is up to 75 thousand euros, at a fixed rate or at a variable rate, to be repaid in no more than 10 years and allows for tax breaks for energy savings;
  • Repay Loan : with the assignment of the fifth that allows you to request a loan to repay with the withholding of a fifth of the salary. The amount to be requested varies depending on the amount of salary and duration;
  • Student Loan : for students, has a subsidized rate for the purchase of computers and books, the APR is 0.45% and the maximum amount that can be requested is 1,500 euros, the maximum duration of financing is 12 months.

To find out all the details relating to the various loans, we recommend asking for an appointment at a branch so as not to have surprises when applying for a loan.

The necessary guarantees for the loan

loan

Whatever loan you wish to request, you will have to offer mandatory guarantees. The mandatory guarantees are the same even for those on the bad payer list or for those who have been previously protested. The guarantees are:

  • The guarantee of a third party : which can act as a guarantee. The third party, or the, can guarantee being a friend or a parent or a relative. We remind you that the guarantor can become responsible for the return;
  • The pension : a solid guarantee, but the duration and the number of installments to be reimbursed can change depending on the age of the applicant;
  • The pay slip : a solid guarantee for the loan, thanks to the pay slip generally you get fast loans and advantageous rates;
  • The salary assignment : in general it also helps those who have been protested or are on the bad payer list to obtain the loan, the sum to be returned to the bank will be withheld from salary or pension each month. In general, the salary assignment allows for advantageous rates and times for repayment up to 10 years.

What you need to get the loan

What you need to get the loan

To obtain the loan you must give to the bank:

  • A valid identity document;
  • The pay slip, or the pension or the last tax return (only for the self-employed).

All applicants must provide the same documents, so even those who have been protested or are on the list of bad payers. Generally there is no need to provide other documents, since the bank to which the loan is requested will take care of the rest.

timing

timing

Generally, it takes a couple of days to get a loan online, so in 48 hours from the opening of the file you can get the money in your account.

In the event that you opt for the loan request in the branch it will be a person in charge to report to the applicant what the waiting times are.

We remind you that each loan request is different and that in this case both the waiting times and the type of monthly payment, that the interest to be paid may change.

The interests

You can immediately know what the interest rate to pay with a convenient online quote will be more or less. The estimate can also be requested from a representative in a branch.

We remind you that the loan is not binding and is completely free. Using the quote, you can find out the rates, The TAN is the interest rate, the APR is the synthetic total cost of the loan or the cost of the commissions to be paid.

Checking the interests, then the TAN and the APR, can help you choose the lowest and most convenient ones. With a little research you can even save on interest before applying for a loan.

And the subjects protested?

We are not sure that the bank will pay the loan if you have been protested or if you are on the list of bad payers, but you can try providing some guarantees to the bank.

The only way to understand will provide the loan is to ask for clarifications in a branch by making an appointment with a representative.

The person in charge will assess the financial situation and decide whether or not to accept the practice. Commonly, the assignment of a fifth of the salary is the most solid guarantee to have the loan with Bper also in the case of an applicant on the list of bad payers or protested.

With the sale of the fifth it is possible to obtain plans to repay the amount up to 10 years and low-interest rates. If you need a loan, but you are a bad payer or have been protested, we recommend that you try this interesting option.

Loans for temporary workers

Loans for temporary workers

Also thinks about temporary workers. If you are a temporary worker and need to request a sum, you will need to provide the bank with some additional guarantees.

To get the loan even from temporary workers, the number of installments to be repaid must not exceed the remaining contract months.

The other conditions to be respected in order to get a loan from temporary workers are the same as for permanent workers. Therefore no further guarantees must be provided to the bank.