This year, the family will spend an average of USD 720 on Christmas. However, not every family has gathered the middle for this purpose. Where is the best borrowing for the holidays?
We have a fairly large selection. We can choose a payday loan, bank or loan from family or friends. It depends only on us what we decide. I do not hide that in my opinion, the best choice is a fast online loan. There is a huge selection of payday loans on the market and everyone can find the right offer. Especially since the loan company can repay the loan at any time during the contract, without incurring any additional costs.
Get up to $1000 with an online payday loan for bad credit
Availability has been one of the reasons for years: online payday loans for bad credit from GreenStart are quick and convenient. We don’t have to go to the branch of the loan company, we don’t have to queue for hours at the bank. Online loans are safe. And definitely cheaper. We can reach for them anywhere, anytime. All you need is a computer, tablet or phone and Internet access.
What to consider when choosing a loan company?
Credible loan companies can be found on the list of the Association of Loan Institutions. We can also check reviews on the Internet, although remember that often comments leave unfair competition. A lot about the company will tell us the certificates it has. The Reliable Company Certificate or Loan Institution of the Year are important awards – not all companies receive them. Let’s check if the company uses website security certificates: whether our data is protected by an SSL certificate. When choosing a company, let’s pay attention to how much time the company operates on the market. The most reliable companies have been on the market for several to several years. Let me remind you that from January 2018 each loan company will be registered by the Financial Supervision Authority. In addition, on May 25, 2018, the new ordinance will apply. GDPR, i.e. a regulation on the protection of personal data that will increase the security of customer data.
Should people be afraid of payday loans? What do you pay for with such a loan?
The first loan for free is granted without any commission and interest is not subject to repayment of interest only if it is repaid on time. On the other hand, subsequent loans are payable, although they should not exceed the maximum amount of non-interest loan costs in accordance with the Consumer Credit Act of March 11, 2016. For example, with a loan of USD 1,000 The cost of the loan for USD 12 months will be a maximum of USD 550 (i.e. 55% of the loan amount per year). So even cheaper than at the bank. It is also worth noting that, unlike a credit card, a free loan is not burdened with any fees or commissions.
Do you think there is a risk with the payday loans that you will have to pay back the amount borrowed several times after Christmas?
Patches of “expensive” and “with hidden costs” have been glued to quick online loans. But will we get a loan on better terms? Not necessarily. I will give an example of the proven domain, which has been on the market for over three years and offers the first loan up to USD 3,000 for USD 0, i.e. the client borrows 3000 USD and gives the same amount on time. It’s hard to find a better offer on the market.
How do the verification of the client and his income with online loans look like?
A reliable loan company will never get you to borrow more than you need. She is interested in minimizing the phenomenon of redirection. The cash limit that a customer can borrow is set mainly on the basis of credit history, meticulous analysis of consumer data and history of earlier repayments of liabilities. The companies use Big Data to verify customers: financial scoring, use BIK and BIGs. They process a lot of different customer information to see if they can pay back the debt.