How to chose an Online Payday Credit Expert

Monthly payment Plan of Payday Credit

Before applying for an online loan, you must determine the exact amount you want to borrow. Then choose the time you plan to carry the loan.

However, for payday loans, you usually have between two weeks and a month to repay the loan, so that on this side you do not have many options.

If the loan is spread over several months, you will end up paying more interest than if you repay the loan in one month. Also remember that payday loans can be reimbursed in a lump sum at the end of the period. Also make sure there is not a prepayment penalty.

Other types of loan online

Below you will find descriptions of several forms of loans available to you.

Personal loan

Loan modality of relatively short duration, not more than 5 years. The borrower shall repay the amount made available by the lender under the terms of the corresponding contract in monthly and periodic installments.

Fast credit

Instrument that does not require proof to be granted, and the amount requested can be used for constitution of cash, services, or simply purchases.

It must be tarnished that even if the credit application is made online, a written contract containing its characteristics is still necessary.

Credit redemption

Also known as a credit pool, this is a mechanism to refinance one or more credits in effect with a new single credit, usually from another institution. The purpose of such an operation is to obtain better borrowing conditions.

Once agreed, it is up to the new institution to repay on your behalf the loan (s) to consolidate, and consecutively make you a new single loan.

Consumer credit

Loan modality to obtain an amount to cover non-real estate expenses.

There are two main types of consumer credit:

The credit allocated, to finance a well-defined and unique purpose (for example: television, travel, car, etc.);

Unrestricted credit, the purpose of which may be freely determined by the borrower. In turn, this type of credit has two methods:

Personal loans or without proof

The institution puts at the disposal of the borrower a fixed and unique sum, generally not greater than 40,000 euros, which must therefore be reimbursed in the form of monthly installments spread over 12 to 60 months.

Revolving credit

The institution puts at the disposal of the borrower a reusable amount to finance non-predefined purchases. This credit is renewed constantly as and when repayments, and within the limit of the amount granted.

This mechanism corresponds to the previously called permanent credit, or "revolving credit" in English, and generally works by putting a usable credit card into the network of affiliated businesses. This formula is obviously very flexible, and can constitute a danger of over-indebtedness. On the other hand, it is generally expensive, and therefore requires excellent management.

Prepaid card

Instrument that allows you to pay for purchases, directly or also on the Internet, for an amount not greater than the amount of money you put in advance on the card, either in cash or by transfer. It is used in the same way as a conventional bank card, but you do not need a bank account to get one.

How to get credit online?

Nowadays, thanks to the Internet, we can access a large amount of information in a completely transparent way. Many loan platforms exist, and allow for a credit simulation in seconds. In addition to these comparison platforms, many online banks operate and offer similar services. Comparing the best deals has never been easier.

Constitute a coherent and complete file

Once you have chosen the most attractive loan that meets your needs, you must start building a complete and solid file, which will be subjected to a careful study of the bank. You will need to start by indicating the type of loan you want and send it along with the supporting documents.

If you have completed your file correctly and provided all the necessary supporting documents, you should receive a prompt reply.

The benefits of online credit

Doing your research or applying for credit online is extremely easy. There are many benefits to this, because you do not have to physically go to the retail bank, your loan broker or your credit bureau, and getting an appointment with a banker is not easy. not guaranteed, it can take weeks, and maybe even more in the summer.

Searches and simulation requests are completely free online. Comparators also facilitate the automatic choice of the best credit. In the case of a personal loan, you can learn all about secure payday loans at slick cash loan