Credit Cards

Credit Cards Can Give You Flexibility And Security

A credit card is a debit card where you pay on credit. For many, this provides flexibility and security in everyday life. It happens that unforeseen expenses must be paid immediately and then it helps to have a credit card available. What is important to remember is that a credit card is a type of loan that must be repaid to the card issuer. Like all other loans, this loan must be handled properly in order to avoid unnecessary fees and interest. Most credit cards come with travel and cancellation insurance.


Check your credit score before applying for a credit card

Check your credit score before applying for a credit card

When you apply for a credit card, the card issuer will conduct a credit check before accepting your application – if you have a low credit score you may be denied credit. On the other hand, if you have a good credit score you may get better offers than advertised. When the bank approves your application, they will set a maximum credit limit which is the maximum amount you can use. At the end of each month, you will receive a bank statement that gives you a detailed overview of how much you have available and what you have spent your money on. Most banks will give you an interest free period of 45 days to 50 days depending on which bank you are talking to. This means that if you treat your credit card correctly it should be possible to avoid interest and fees.


Make sure you pay down as much as possible

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When repaying your debt, it is important that you try to repay as much as possible each month. If you choose to pay only the minimum amount each month, it may take an exceptionally long time to repay the credit you used. You should always pay the minimum amount to avoid penalties and unnecessary interest expense. For most credit cards, you will pay fees for cash withdrawals and transfer from card to account. If you do not want to pay any fees, you should consider purchasing a fee-free card, such as a fee-free Visa from Santander or Skandiabanken’s credit card.

A credit card offers you a safe and easy way to pay for merchandise purchases. Make sure you become the king of your finances so you avoid unnecessary interest and fees.


Loan despite credit bureau in 24 hours

If a loan has to be available in 24 hours despite Credit Bureau, it is not really an easy task. On the one hand, because there is no loan from any German bank without asking Credit Bureau. And if the query reveals negative entries, the borrower is not granted credit.

On the other hand, it is the 24 hours that make life difficult for many banks. Because a loan application must be properly examined. If it is also recorded via the Internet, data must be exchanged in a complex manner and legitimation must be carried out. Finally, the money from the loan should also reach the borrower’s account within these 24 hours. All in all, a package that has to be mastered first.

The Credit Bureau and the problems associated with it

Anyone looking for a loan in 24 hours despite Credit Bureau knows very well that their Credit Bureau is not “clean”. Otherwise he would take out a normal loan by asking Credit Bureau.

Credit Bureau, based in Wiesbaden, is the leading economic information database in Germany. She sees her area of ​​activity in storing all economic data of companies as well as of consumers. Credit-relevant information can be drawn from this data, since this can show the creditworthiness of a borrower. The Credit Bureau can be queried by companies, dealers and consumers. However, the latter are only allowed to obtain information about their own Credit Bureau.

If Credit Bureau is negative, this means that the consumer has not met his payment obligations to other contracting parties. In addition, a negative Credit Bureau could indicate that a judicial order for payment procedure is already in progress or that an enforcement order has been issued. In addition, Credit Bureau only deletes negative entries three years after they have been repaid. A negative Credit Bureau can therefore also exist if no liabilities are open at all, but the deletion period has not yet expired.

Is there a serious credit in 24 hours despite Credit Bureau?

Is there a serious credit in 24 hours despite Credit Bureau?

Now, of course, the question arises whether there is a serious loan in spite of Credit Bureau in 24 hours. Is it even possible to take out a loan under such conditions?

In fact, there are a few ways to get such a loan into action. However, these require a little effort and cannot guarantee that the money will actually be in the account within 24 hours.

The best chance of getting a really good loan despite Credit Bureau in 24 hours is when you get a second borrower and apply for the loan with your partner at the house bank or a local bank. There you can personally audition, describe the situation and submit all documents directly. A lengthy exchange by post, fax or email is not possible.

If a small loan amount is desired, the selected bank can check the loan application immediately. If the decision is positive under the conditions that can be provided, the money will be paid out. If desired, even in cash, so that the money is in any case available within 24 hours.

It takes a little longer if an international loan is chosen. In principle, this does not require Credit Bureau and is issued by Sigma Kreditbank, among others. Its registered office is in the Principality of Liechtenstein. The bank can be contacted directly via the Internet. Likewise the application for the loan. Loans of up to $ 5,000 are possible. However, there can be no guarantee that payment will be made within 24 hours.

The personal loan is also good but not in time. It is offered on portals on the Internet. The portals see themselves as intermediaries and bring financiers and borrowers together. The chances of getting a loan without Credit Bureau are very good if the project that is linked to the borrowing is plausible and understandable. However, the time factor could also be a problem here, as the loan is unlikely to be available within 24 hours.

Last but not least, we would like to mention the mortgage loan, which is often forgotten. It can be taken up at pawnshops by providing the pawnshop with a pawn. There is money for the deposit, which can be used for the project. If the pledge is released again within 3 months, it becomes the property of the borrower. If the borrower cannot release the pledge, the pawnshop will auction it. Despite everything, the borrower would have his loan in 24 hours despite Credit Bureau and could therefore dispose of the required money.

Payday Loans

Limitation of payday loans – what do you need to know?

Despite the fact that payday loans and other online loans are no longer considered usury, the debt problem is still extremely serious. It is estimated that up to 35% of people in the 30-39 age group have a problem with timely repayment of financial obligations.

Of course, not all debts relate to loans, but the availability of this type of products means that their percentage share in debt is growing. The problem is compounded by the fact that people who have low incomes, rarely exceeding USD 2,000 net, and therefore experiencing major problems with loan repayment and more prone to falling into a spiral of debt fall into debt.

What is a loan limitation period?

What is a loan limitation period?

In other words, the debtor is released from the obligation to pay the obligation after a certain repayment deadline. Limitation is a legal term, strictly regulated by the Civil Code and at present, pursuant to art. 118 of the Code, it may be 10 or 3 years, depending on the type of service provided. The second case concerns “claims for periodic benefits” included in the provision, i.e. when the money is borrowed for a specific period of time and the date when the money is given is known.

Therefore, non-bank companies, but also banks being creditors of the borrower must take into account a limitation period of 3 years. This is the period that begins to count from the time when the loan should be repaid.

This is different for installment loans, where the limitation period applies to each installment separately and is calculated from the moment when each installment should be paid. It is true that in January 2018 a draft amendment to the Civil Code was adopted, which provides, inter alia, reducing the limitation period for claims, but specific issues regarding entities such as loan companies will not change.

Prescription and consequences of non-repayment on time

The three years indicated are a short period during which the borrower could theoretically achieve the repayment of the loan until he was released from the obligation to settle the debt. In practice, however, this is not so simple, and the matter of limitation is more complicated. This procedure applies only to cases where during these 3 years the creditor does not take any action to enforce the debt. What does it look like in the case of loan companies?

Debt collection procedure begins relatively quickly. The reprimanding process, i.e. monitoring and admonishing the overdue borrower may take several months, but these are active and registered activities, even if the borrower does not respond to these prompts. In addition, the debt is transferred to the debt collection company quite quickly and, although its activities may be different – more or less ethical – their idea is to agree amicably with the client and individually resolve the embarrassing situation.

The limitation period also breaks every step of the debtor. In practice, it will be the borrower’s contact with a loan company, response to a prompt, consent to individual debt repayment, participation in mediation or meeting with a debt collector.

Even if the limitation period finally ends, information on the debt will still appear in the BIK. A negative entry in such a database will quite effectively hinder your life, not only when you have to apply for a loan. Problems can also arise with taking a payday loan as proof.

How to avoid negative consequences of repayment?

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The most important issue here is responsible lending, which means lending amounts adequate to your financial standing and carefully analyzing your repayment plan. You should also consider the option of extending the repayment period and use this option if it is available in the offer of the selected loan company or try to get a consolidation loan to pay off loans.

Another important issue is to read the contract carefully and carefully read the table of fees and commissions due to the loan company. These, according to the law, must be public, and the client must be familiarized with the full loan costs.