You really need a little extra money. While you were surfing the internet and thinking about how you will do to get the money you need, an ad goes up and catches your eye: personal online credit.
Attractive, simple and easy, right? This particular type of loan really has a big difference, the practicality, since you just have to click a few times to make the contract. However, it is important to always be aware, as online credit is one of the most expensive forms of credit, especially if you decide to contract it with a financial agency.
How about getting to know a little more about this type of credit that is increasingly growing and bringing new clients to financial agencies?
Personal online credit: what is it?
Personal online credit, in fact, is one of the forms of credit where the interested customer can apply directly through the internet. There are two different ways to apply for such a credit: by banks or by financial agencies.
At agencies, online loans and credits must be specifically requested, but can be made by anyone, while in banks the applicant usually needs to be one of the company account holders and must apply for the loan or credit line directly through the internet service. Banking offered.
Remember that there are no guarantees, either in banks or financial agencies, that your loan will be accepted. People who are negative, for example, have a much harder time getting credit.
What are the main advantages of applying for an online credit application?
The first advantage, no doubt, is practicality. Choosing to apply online for personal credit is one of the alternatives that should be considered by those in a hurry and urgently need a solution that is fast for the tightening moment.
In addition, personal online credit is very practical and easy. You don’t have to leave your home or talk to someone over the phone to be able to apply for credit. The second clear advantage is simplicity in ordering. The whole process is usually very fast.
First of all you have to make a brief simulation, putting the amount you need in cash, how you want to pay, how you want to receive and when you will start paying your first installment. Agreeing with all the values presented by the agency, you just have to submit your proposal and the answer will arrive in your email within a few minutes.
The third quality is speed. Usually applying for a loan at a more common bank is something that takes much longer than it should. You have to face long lines, you have to deal with your manager, and you have to keep explaining yourself, detail by detail, to get your credit cleared.
In an online credit application, none of this exists, and the wait for your credit rating is much shorter. Before you know it, the email has arrived, and if all is right, the money falls into your account in less than 48 hours.
What are the disadvantages of this particular credit modality?
One of the main disadvantages, no doubt, is the higher interest rates. High interest rates on personal credit are usually much higher than others.
Of course, this happens for a reason. The qualities mentioned above are the reason, in fact. You have quality, practicality and speed in exchange for higher interest rates. It turns out that financial agencies face much higher dangers in this type of loan, which generates the highest interest rates.
Another disadvantage of this type of credit is that people do not make decent analyzes and are driven by impulsiveness. In addition, the practicality of a credit in this format can become an extremely negative factor when the user is urged to act merely on impulse by asking for the loan without even properly analyzing their financial condition.
The result of this is shown in the high delinquency rates, which make people in debt more than they were in debt before. Because of this it is so important to properly plan your loan, not simply to apply for it without first analyzing your financial health and diagnosing if you can really handle one more debt.
After all, is credit like that worth it?
Truth be told, this credit option can help, and a lot, who is going through the pinch. However, it is best to do a good schedule and planning so that you do not have to resort to credit lines or, if appropriate, opt for some of the cheapest credit options available in the market, such as payroll loans or some form of credit. . loan from your family members.
A loan can be lifesaving if used correctly. Still, it can help you make dreams come true. But again you need to plan everything in advance, predicting expenses, earnings and more. All in order not to end up with a growing debt, preventing you from earning more and rising in life as you had always dreamed.
Get rid of debt, organize your financial life, and search intensely for the most appropriate means of planning. We recommend that you create a spreadsheet and write down all your expenses and earnings, making a comparison of what may or may not be cut so you can start saving money and later apply it to any investment that will generate a fixed income for you. you.
Well, now you know everything there is to know about online personal credit in all its forms. Be aware, however, if you really want to follow this path, and look for someone who understands the subject so you can guide each step you take to a new life.