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Credit and the dark side of banks

When you need credit , you can go first to your parents, partner, or close friends, because you know that the amount you borrow will have no interest or the rate charged will be lower than that charged by banks. But when has no one to turn to but the bank?

 

Credit? Keep an eye on Total Effective Cost!

credit loan

Generally, when you apply for credit from the bank where your account is registered, the institution first shows you the interest rate, saving the Total Effective Cost  only for when you confirm the contract and the payment installments. Always be aware that Total Effective Cost is the sum of interest rate, IOF and transaction charges. Still don’t know how Total Effective Cost works? Click here to learn more.

 

The overdraft that leaves you in the red

The overdraft that leaves you in the red

When you open a checking account with the bank, the first line of credit offered by the bank is overdraft. At any time, when you need money, just use your bank card. There is no need to request a limit as it is usually already released.

On the other hand, the major disadvantage of using overdraft is the high Total Effective Cost . With high interest rates, it is easy to lose control over debt, resulting in debt. The consequence, from default, may be the cancellation of the banking service until the property of the person is taken.

 

The Danger of Credit Card Revolvers

The Danger of Credit Card Revolvers

The second line of credit offered by the bank is the credit card. This mode is the most dangerous on the market, why? The amount you spent the previous month and could not pay will come to the next invoice with interest added. Be careful when choosing not to pay any amount on your bill, as the revolving credit interest rate (learn more here) in Brazil is one of the highest, over 449% per annum! If you cannot repay this debt soon, it will become a snowball out of control.

 

Deburden yourself!

money loan

Looking for personal loan? Deburden yourself! Who says your bank really has the best deal for your pocket? With the internet, financial companies are increasingly incorporating technology into their operations. Companies such as these offer solutions to customers underserved by financial institutions, such as the credit card offered by Lubank, which gives customers the option to apply for a credit card without being connected to a bank. Fundico is another example! The personal loan platform follows the unsecured personal credit line for individuals. Total Effective Cost may range from 2.79% to 5.26% per month, depending on customer analysis and installment option.

Lenders or microcredits: differences

Generally, financial matters can be handled with the monthly salary; however, unforeseen circumstances that require financial assistance may arise. In this sense, there are a large number of options to solve these monetary setbacks: banks, microcredit entities, lenders …

In addition to the classic financial system are private lenders. Both have great differences in terms of their rules, conditions and the relationship between both parties. To help you clarify your doubts and choose the most appropriate option, we share some information that differentiates private lenders from banks.

 

Why do some people go to private lenders?

Why do some people go to private lenders?

The answer depends on the special situation of each person. If you have an urgent need for money, you might think that the particular lender may be your best option. It can provide you with money faster which will save you procedural stages. It is true that lenders are not as rigorous with the prerequisites for accessing the loan, but it is important to know the potential risks.

 

Differences between private lenders and traditional financial system?

Differences between private lenders and traditional financial system?

Most private money lenders have hidden charges such as processing fees, fluctuating interest, fixed interest rates, closing charges, penalty for premature closing, among others.

It is not that banks do not, but the banking market is better regulated with more restrictions, while the lender market does not reach those levels of security. This occurs because banks are part of a more formal financial system, which is important for the country, and for this reason they must be transparent so as not to damage the credit rating of the country in which they operate or not to harm their depositors.

On the other hand, in the case of private lenders, the collection mechanisms in case of default are of great uncertainty. This means that if you do not cancel one of the loan installments in a bank you can still sleep peacefully, but if you do not pay a lender it could be more complicated. They usually have more persuasive tactics to collect debt. The nature of private lenders in the market is risky and is based on distrust.

In this sense, we can conclude that the formal financial system is more transparent. In addition to this, banks usually give certain benefits to their customers such as the use of credit or debit cards. In contrast, private lenders tend to be more discretionary, being able to modify interest rates on loans without much notice. They also rarely give any benefit to the customer.

 

Option of microcredits versus private lenders

Option of microcredits versus private lenders

There is a big difference between both modalities to obtain money loans. We have already said that one of the reasons why people apply for loans from private lenders is because of the speed and that they generally require less requirements. However, Lanchivar can offer you a financial service of equal speed and easy access with the great difference that will give you a security that no particular lender can give you.

This way you can save long lines of bank or feel insecure when negotiating the loan clauses with private lenders. Lanchivar offers to get loans online that in a couple of steps will allow you, quickly and easily, to access the money you need for that exceptional situation you are going through.

All the credits of the organization under the microscope.

Yoabank is the French leader in the consumer credit market. Since 2010, their product range has expanded with savings and insurance products. Over the past few years, the company has carried out a lot of awareness-raising activities on the benefits of consumer credit and has committed to managing “responsible credit”. Yoabank is very present in advertising, whether in the TV campaign with these offbeat campaigns, in the press and on the web.

Yoabank: their credit offers

Yoabank: their credit offers

To be able to compare Yoabank rates with the best offers on the market and obtain an answer in principle without obligation, just use our credit comparator.

Financial companies regularly change their offers to attract the profiles that interest them. We therefore raise the rates of the largest credit organizations every day to offer a ranking of the best rates.

Yoabank is one of the best organizations on all important criteria (rate, level of acceptance, customer service, monitoring), as evidenced by our ranking below. Now let’s review all the credit offers offered by this historic organization.

The best organizations and their benefits

The Yoabank personal loan is a consumer loan without proof of use of money, which can be used freely

  • Amount: from $ 500 to $ 75,000
  • Duration: 6 to 84 months

The insurance of this type of loan is optional but it makes it possible to secure oneself in the event of difficulties of repayment following incidents of life. The various guarantees of this borrower insurance are as follows:

  • Death or disability guarantee
  • Health or accident coverage
  • Unemployment: this guarantee is optional when you take out borrower insurance. This guarantee fully or partially covers your monthly payments to be reimbursed in the event of loss of employment following a dismissal.

Yoabank car loan

It is the product adapted to finance the purchase of a new or used vehicle with or without contribution.

  • Prerequisite: justify the purchase of a vehicle
  • Amount: from $ 500 to $ 75,000
  • Duration: 6 to 84 months

New : Yoabank launched the used car loan valid for 6 months. This reserved loan is dedicated to the financing of used cars and will especially simplify things for buying a used car. It may be asked at first without knowing exactly which car we are going to buy. The money will not be made available until the car is found. And as long as you don’t buy a car, this loan costs nothing.

Yoabank works credit

The Yoabank works credit offers attractive rates. To be able to obtain it, it will be necessary to justify its work.

  • Prerequisite: justify the completion of work
  • Amount: from $ 500 to $ 75,000
  • Duration: 6 to 84 months

Like a personal loan, you can complete your credit application with borrower insurance.

Credit repurchase

• The purchase of consumer loans

Eligible product for both tenants and owners who have several consumer loans and who wish to combine them into one.

Prerequisite: have several consumer credits:

  • Amount: from $ 500 to $ 99,999
  • Duration: 12 to 84 months

• The purchase of consumer and real estate loans

Product eligible only to owners who wish to reduce all of their monthly payments and in particular that of their mortgage.

Revolving credit

Yoabank revolving credit is adapted to cope with unforeseen events and therefore last-minute money needs.

  • Amount: from $ 500 to $ 4,000
  • Duration: 6 to 60 months

With this revolving credit, you have the choice between several repayment speeds. To simplify the use of revolving credit, it is possible to associate it with a Visa bank card. This offer is particularly suited to needs around a 1000 USD loan.

Note: the revolving credit can be associated with the Cpay Mastercard or not, depending on the choice of the borrower.

Yoabank: their other products

Yoabank: their other products

The Cpay Yoabank bank card

The Cpay Yoabank card from the Mastercar network offers the following advantages:

  • Payment facilities: cash or credit choice
  • Tips
  • Loyalty points

How to apply for a Yoabank loan?

How to apply for a Yoabank loan?

From our comparator

Our credit comparator integrates Yoabank, like its main competitors such as Bankil and Bankate. Our comparator does several things:

  • See a classification only based on the APR rate
  • Get an immediate policy response from each of the top three organizations

A simple and effective way to get up to three answers without having to browse different sites from different organizations. When Yoabank is among the three best specialists for its project, the organization, connected to our tool, is able to provide immediate advice.

Directly on Yoabank

Directly on Yoabank

At the end of the entry, you get a response in principle online. Either the request is refused (file under study) or he obtains a first agreement in principle. Entering a form will take 5-10 minutes.

In the event of a favorable opinion, the credit agreement can be downloaded and printed and / or received by post. To obtain financing, you must return the duly completed contract as well as the supporting documents requested.

We will also note a strong presence of Yoabank on social networks, in particular on facebook. They are very active there and do not hesitate to interact with them on these new media. 

Credit in 24 hours without credit bureau.

Are you looking for a loan in 24 hours without Credit bureau over 3,500 USD because you promise fast liquidity also without Credit bureau? Or are you concerned about a liquidity emergency? A small loan amount should help the household budget with an invoice?

Again and again, the focus for seemingly unbelievable loan promises is on loan-free financing offers. Our credit advisor, free of charge, but financing securely, allows a look behind the advertising.

Credit in 24 hours without Credit bureau advertising

Credit in 24 hours without Credit bureau advertising

A loan in 24 hours without Credit bureau, applied for, approved and paid out, is that really possible? No problem with advertising. For every unusual loan request, without the slightest creditworthiness and without the risk of a loan refusal, immediately available, the advertising knows the right answers. We are talking about credit without Credit bureau, and the myth that Swiss Credit bureau-free small loans are a real all-rounder.

The loan amounts of $ 3,500 and $ 5,000 for the Credit bureau-free bank loan are known from advertising. The offers for the installment loan obviously come from various banks. Because in advertising it is a Swiss lightning loan, then an international international loan or just a simple bank loan from Lichtenstein. On the part of the advertising messages, the offers differ so clearly that there can only be different offers and providers.

It is true that the advertising comes from different intermediaries. The bank that supposedly decides on the loan in 24 hours without Credit bureau is always the same. As far as all research proves, only one provider may actually legally offer Germans a loan without Credit bureau.  As far as understandable, it is the only bank to have Bafin approved. The bank must not have a representative office in Germany for really Credit bureau-free credit.

Financing Credit bureaufrei – truths about the foreign loan

Financing Credit bureaufrei - truths about the foreign loan

The only commercial providers based in Germany that are allowed to exclude Credit bureau are pawn shops. According to legal regulations, a commercial lender (bank) from Germany may only offer “despite” Credit bureau. The loan offer for “Swiss loan” no longer comes from a bank in Switzerland in 2016. (Federal Administrative Court of April 22, 2009 – Az. 8 C 2.09)

It also becomes clear how wonderfully incomplete half-sentences stimulate the imagination. In advertising, only the core statement is promised: “Credit in 24 hours without Credit bureau” the rest of the statement is left to wishful thinking.

– find in 24 hours?
– apply in 24 hours?
– decided in 24 hours?
– in the account in 24 hours?

Since it is clear from whom the alleged Credit bureau-free credit in 24 hours ??? The question arises as to what the Liechtenstein bank actually offers.

Loan without Credit bureau from Liechtenstein – what can it offer?

Loan without Credit bureau from Liechtenstein - what can it offer?

The legal offer does not include something like a quick loan. Either 3,500 USD or 5,000 USD can be requested. The application must be made using the post ID procedure. This means that the legally binding loan application can only be made by international mail. The only promises the bank makes are not to ask Credit bureau about the loan decision and not to report approved loans.

With regard to the processing speed, the bank promises to decide each loan application as quickly as possible, in the order in which it is received. There are no time advantages from submitting an application through an intermediary who promises the loan in 24 hours without Credit bureau. Original statement by the management: “One after the other, as the requests are received”.

The creditworthiness is checked by hand using mostly original documents. Instead of looking at Credit bureau’s excerpt, the credit auditor looks at the debtor register of the local court. (No entries allowed). In addition, credit is only granted to those who earn well above the attachment limit, provided that there is no attachment of income or assignment of wages. Loans paid in 24 hours without Credit bureau or even “only” legally binding applications are not compatible with the procedure.

Fast loan payment – despite Credit bureau it can work

Fast loan payment - despite Credit bureau it can work

Loans with a loan payment in 24 hours or faster with negative Credit bureau are not entirely fictitious. Cream Bank, for example, offers a credit option, even with real-time payment, regardless of the day of the week or time. The bank is known for its direct cooperation with Best Lender, the market-leading portal for loans from private to private.

People who already have an Cream Bank account log in to the website and press the emergency number. The system immediately credits the current account with exactly 100 USD. Another alternative, for example, is Vexcash. The company specializes in microloans between USD 100 and USD 1,000 with a maximum term of 90 days.

The company deals with existing customers in the same way that borrowers imagine the loan in 24 hours without Credit bureau. The negative Credit bureau is generally acceptable, the income may even be far below the garnishment limit. After the first short-term loan has been successfully repaid, a new loan can be requested for payment within 30 minutes.

The usual loan payment at no extra charge actually takes place within 24 hours. Credit bureau is hidden within the scope of the legal freedom of a loan offer from Germany. The offer comes extremely close to the credit in 24 hours without Credit bureau in the account.

After all, what is it and how does personal credit work?

Personal credit is a form of loan intended for individuals. In this type of credit, the consumer borrows without having to offer collateral or dispose of a property that is buying. Total Effective Cost rates vary by financial institution and credit analysis.

 

How to get a personal credit

How to get a personal credit

To get a personal credit you need to contact a fintech, financial or bank. In each type of institution the consumer can find different options related to the form of payment and also to interest rates and Total Effective Cost (Total Effective Cost).

In fintechs, as in the case of LoanCo, it is common for consumers to find better credit options. At LoanCo, this is possible because the company has a lean structure and a personalized credit analysis, allowing rates to be tailored to each customer.

To get a personal credit one has to check the conditions of the company. In many, for example, there are no options for negatives. Also, before making the loan acquisition, it is very important to check the rates and payment terms. Comparing different companies is a power the consumer has gained from the internet.

 

Is it safe to apply for a personal credit online?

Is it safe to apply for a personal credit online?

Applying for a personal credit over the internet is as safe as applying for the same at a physical store. However, care always needs to be taken.

As already explained here on the LoanCo blog, the consumer should always be aware of the site information, such as: CNPJ, security certificate, company name, existence of profiles on social networks, comments from other customers on social networks and rating sites, etc.

It is also worth remembering that the early deposit request for credit release is a strong indication of fraud. Always be aware of this! At LoanCo we never request advance deposit.

 

Types of Personal Loan

Types of Personal Loan

When you look for personal credit, you are sure to find results on various types of loans available in the market. Understand below how the most common work:

Unsecured Personal Loans

Non-payroll-deductible personal loans are those offered by companies such as LoanCo and intended for Individuals. It is not necessary to give goods as collateral and the cleitne is responsible for the payment, that is, there is no discount on the sheet.

Payroll Loans

Payroll loans are generally offered to retirees, civil servants and pensioners. It is possible to get this type of loan as a private company employee, but for this the institution needs to have a partnership with the bank. This credit has as its main feature the discount of the payroll portion.

Personal credit with vehicle or property guarantee

To make this type of loan you need to have in your name a good, which can be a vehicle or property. It then undergoes an evaluation of the secured credit company and the maximum loan amount and rate is determined.

 

Best personal credit 

Best personal credit 

The best personal credit is one that offers you fair rates and payment terms that fit your pocket. Always research and compare before purchasing a credit. Find out exactly what you are paying for and what the conditions are.

Credit with instant approval and immediate payment

A quick credit slogan does not mean that the loan payment really appears immediately on the account statement. Promoting an instant and instant loan can lead to loan offers that are paid out within 48 hours. But unfortunately also for offers that “warm up” only a few days before starting.

We want you to choose the loan offer that suits you best. We support you with information on how you can recognize really fast credit procedures and offers that match your personal credit rating.

Credit with instant approval and immediate payment – regular online credit

Credit with instant approval and immediate payment - regular online credit

A loan with an instant commitment and an immediate payment is required if you are in a particular hurry to receive the loan. The immediate approval creates planning security, the immediate payment ensures that the money quickly goes to the recipient. A number of different factors are decisive for how quickly lending actually works.

In addition to the personal creditworthiness for lending, the application process, the choice of provider and the loan amount play recognizable roles. Regular credit institutions offer the fastest credit procedures to applicants with good credit ratings. The required loan would be applied for via a free loan comparison. Regular credit comparisons provide an overview of the market and lead to direct applications to the bank.

If you really want it to be quick, only credit providers who offer Videoident for ID verification can be considered. Choosing Post-ID inevitably leads to avoidable delays. Anyone with video telephony is welcome to apply for the loan with instant approval and immediate payment via video identifier. A simple smartphone is enough to use the fast service.

Fast online credit – how does the application process work?

Fast online credit - how does the application process work?

With a click of the mouse, the loan comparison leads the applicant directly to the desired bank. The loan application can be completed within a few minutes. The program makes the non-binding immediate commitment in real time, immediately after submitting the application. The non-binding preliminary credit check only provides planning security if the score meets the requirements.

The bank will only check whether this is actually the case when the application has been made legally binding. How fast it depends on the type of ID check. If a videoident has been requested, the call back for ID verification and review of the documents to be submitted can be made within approximately 30 minutes. The ID card and the documents mentioned in the instant confirmation should be ready.

Subsequently, all legal requirements are met so that the requested bank can check the loan with immediate approval and immediate payment. If a small loan of up to around USD 5000 was requested, the credit check usually runs automatically. A program collects the scoring data, compares it with the credit requirements and makes the loan decision. People are increasingly only taking on control tasks.

You check that the entered application data matches the uploaded documents. It is then released and the process continues at electronic speed. The program sets up the credit account. It “fills” the credit account with the requested amount and releases the money for the subsequent booking run for payment. On average, a credit process takes between 24 hours and 48 hours, from application to payment.

Immediate loan with immediate payment – application via intermediary

Immediate loan with immediate payment - application via intermediary

Credit brokers often advertise with offers to provide a loan with immediate approval and immediate payment. Advertising is primarily addressed to people whose creditworthiness does not allow an automatic credit decision to be made using the private credit checker score. The credit procedure only looks the same, until the loan application. Inadequacies for a possibly offered immediate approval in real time would be inevitable.

The preliminary test is carried out by the intermediary’s test program. – The problem with borderline cases is that the intermediary does not grant the loan of his choice. His program can only check “in general”. In spite of an immediate commitment, the planning security must not be considered too high. There would also be a time delay in the mandatory credit check by the provider. Installment loans with poor credit ratings are mostly checked manually.

No processor can make decisions at the speed of light, like the computer’s processor. The bottom line is that the requested instant loan with immediate payment – with poor creditworthiness – is not faster than any installment loan from the same lender. Only the credit name in advertising sounds faster. Incidentally, all approved loans, including risk loans, are usually paid out within one booking day.

Fast credit despite private credit checker – immediate payment

Fast credit despite private credit checker - immediate payment

It is not always a matter of eyecatcher if, despite bad private credit checker, a loan with immediate approval and immediate payment is advertised. The big exception that allows a quick credit procedure despite poor or even negative creditworthiness would be mini credit. For people with a negative private credit checker, the mini loan like Vexcash, xpresscredit or Cashper offers almost a overdraft facility.

The short term and the small credit volume allow the loan application with low entry requirements as well as a credit check at the express rate. For example, Vexcash also offers the application in connection with Videoident. So even for first-time applicants there is a realistic chance that the loan application and payment will be made on the same day.

For the first application, 100 to 500 USD with a term of 30 days should be requested. Small loans with fast acceptance and instant disbursement for existing customers become really quick and flexible. After the first successful credit transaction, Vexcash unlocks the credit option for credit application, credit check and payment within 30 minutes. If the creditworthiness is sufficient, a credit volume of up to USD 3000 with a 6-month term would also be possible.

 

Credit intermediation – Loan Intermediation – Payday Loans – Combined Loans – Loan Repayment

Good Finance remedies its financial problems, develops credit offers with surgical precision, or prescribes home-based medicine for therapeutic purposes. An editorial over at http://wapifasa.org/can-i-file-chapter-7-bankruptcy-difference-between-chapter-7-and-13-bankruptcy/

Ask your credit counselor about risks and side effects!

Let’s examine your options!

bank

When we go to the hospital for a doctor , we are expected to, after a thorough examination, prescribe a medicine that will certainly heal us. Of course, we can go to the pharmacy ourselves and buy the “best” and “most effective” agents, according to the advertisements and the instructions of the pharmacist. Which either produces the expected results or not.

The situation in the credit market is somewhat similar. Much less uncertainty and better results can be achieved if we rely on a professional and not always believe in what is the “best” and “cheapest” offer based on superficial advertising.

Which one should I choose …

bank

The attached figure illustrates that there is plenty of lender application and at first glance all are the same. Just none of the borrower’s situation is too encouraging…

Size matters …

Let’s choose a size first!

Have you ever tried to cut bread with a plastic knife?
If so, I guess you wouldn’t do it either.

No matter what purpose, what bank and what loan product we choose for loans. Perhaps the biggest difference today in the credit market is the amount of credit that can be lent. It is based on a real case that we get a loan amount of 4.5 million HUF in one bank and 8.5 million in one bank for the 10 million flats to be purchased .

You may not still need to mortgage your parents’ apartment as an additional security?

Hold the money!

bank

After that, let’s look at the installment details and how it is calculated.
For the same $ 5 million loan, there may be a monthly difference of $ 3,000 to $ 5,000 in installments.

How much in 20 years?
Yes, well over one million or two hundred thousand…. Let’s spend it on ourselves!

Credit Trap / Credittrap

Our banks are fond of telling us what good competition has created for us.
However, they are not talking about the harsh pricing tricks they use just to get to them first.

Each bank has its own unique credit assessment system, which can only be experienced through many, many credit transactions.
We already had a lot of deals.

Expertise and peace of mind

bank

Our credit brokerage expertise is valuable to you because we have gone through the offerings of a number of banks and are able to evaluate them as chartered economists.

Our service portfolio is as complete as any large bank.

The administration is comprehensive. We give you information about the process, ask for the title deed, order a valuation, make a notarial appointment, we run to the bank, and if necessary, make insurance.

If necessary, we go home so the process can be done from home. It only takes a few hours to sign the loan agreement and the notary.

The entire process is free for customers.
Only time and information can be gained with us; you can save unnecessary costs and fees.

Let’s go together!

We consider your personal life situation, opportunities and realities far more important than the list of services.

In conclusion, the end result is much better than credit management if it is done by an experienced professional.

We will share this experience with you for free and on hire, by filling out the attached form.

How to use a credit card well?

Your credit card can become a good business or a bad business. It is a matter of the handling you give it. Are you sure you do well? How to use a credit card well?

I still remember the day my first credit card was delivered. I felt adult and millionaire. I bought clothes, jewelry and bags, invited friends to dinner, filled the tank with gasoline, gave gifts. When he opened the wallet, the card was the first thing he saw. It was great. It was as if my money was never going to run out. Sometimes, he indicated that the term should be six months, others three, others 12, others 48, others one. I said it without thinking, just for the pleasure of giving the order. The feeling lasted several days. In fact, until the first account arrived. That day I hated the card.

Then, of course, I understood that I had created the problem. I had accepted the conditions. I had spent too much. I had not understood how to use a credit card well. It was time to assume the consequences and pay the money. Basic calculation error.

 

Benefits of a credit card

Benefits of a credit card

Credit cards are one of the most interesting products of financial institutions in the world. The cards move millions of millions. Department stores move sales and are very profitable.

Of course, the cards have very attractive benefits: points to redeem on purchases, miles to travel, special discounts or returns. They allow you to buy high-value merchandise in installments, like when you don’t have cash and take advantage of special offers . Who doesn’t want that?

In addition, the cards are very useful, especially for unforeseen moments. Medical expenses, repairs and even gifts that we had not taken into account. Also, they are safe, rather, relatively safe. On a trip, for example, it is more comfortable to have a thin plastic than many bills. In addition, credit cards include some insurance that can be useful in emergencies.

And they are great for shopping online.

Yes, credit cards provide very good experiences. How can it be, then, that we turn them into nightmares?

The subject really interested me. I watched, asked and learned. Now, I apply these three rules to use a credit card well.

 

How to use a credit card well?

How to use a credit card well?

The term

The credit card, as the name implies, is a credit. Some give you up to 48 months to pay what you buy. And as with every loan, there are interests. The card pays for you, accepts that you defer payment of the debt, and in return you apply the financial formula in which they take into account the value of capital, the interest rate and the term.

That is, in the longer term, you pay more and more and more interest. You will see it in each installment.

On the other hand, if you apply this rule, you will see a big difference: when you pay, the cashier asks you “how many fees” and you will answer “one, please” . Because deferring the value of purchases by one month (some cards give two months of grace) is equivalent to:

  • Get the benefit of points, miles or returns;
  • Do not pay interest on your purchases; 
  • Have a secure payment method.

The best rule you can apply is: choose to pay as soon as possible, one month, to pay zero interest.

If you want to change your habit of paying 12, 18 installments to pay a fee (and you owe a lot on the card), do it in stages. Thus, the debt will not torment you.

 

The interest rates of some banks

The interest rates of some banks

The high interest rates of credit cards in Colombia are high rates. Depending on what you buy (for example, a mattress), you can apply a rate of up to 28.7% annual cash. If your card is from a department store and you use it in other establishments, the interest applied may be the highest. If you use the credit card to withdraw cash, you are buying money at very high prices.

The golden rule is: use the cards only to purchase products or services and always prefer a short, very short term. Thus, you will lower your accounts.

Check the rates that your credit card applies and avoid the higher charges. And, please, always pay on time. Late fees are even more burdensome.

 

The quota and consumption

When they approve a credit card, they approve you a debt quota. The idea, of course, is that you use it. But with financial wisdom.

Plan your purchases. The cards are great for buying appliances, furniture, travel, tuition to study. Use the quota and release it as soon as possible. Thus, you will earn many points or miles and pay few interest.

 

The purchase date

The purchase date

The cards have a cutoff date. That is the day they verify what you bought during the period and proceed to invoice r. If you shop the next day, you will have earned a few more days to pay.

For example, the cut-off date is the 26th of each month, the bill comes to you the first days of each month and you must pay on 15. Purchases on the 27th or the 28th (before the end of the month, to receive and spend your salary), will be billed until the end of the following month. It is as if you pay 45 days.

 

Security

Fraud abounds. You already know that there are many sites on the internet that are not safe and you must learn to recognize them. If you shop on those sites, you may have problems later. Someone can copy your card and continue shopping in the rest of the world.

Don’t lose sight of your card either. Making a transaction takes seconds. Follow the recommendations made by banks at.

In the case of detecting something suspicious, report immediately and suspend the card.

The management of your card is essential for your financial well-being. It is estimated that, in debts, including mortgage debt, you should not spend more than 40% of your income. Making a budget, helps to have control.

What happens if life insurance has no beneficiaries?

When hiring life insurance, a more logical option is to designate a beneficiary, the person or persons who will receive the economic benefit if the death of the holder occurs. We can choose any person, it does not need to be a relative and it is not forever, we can change it at any time. For this we can choose to do so expressly, identifying the person or persons who will receive the insurance with name and surname, or do it in a generic way: children, mothers, father, spouse, etc. There is only one limit, if the amount to be distributed for life insurance damages the legitimate heirs may request that this amount be part of their inheritance.

But as we have anticipated, it is not mandatory to designate beneficiary. If so, the economic rights will be received by your heirs like the rest of your assets. But there are some differences and obligations that you should keep in mind. We explain it to you.

What steps does an heir have to perform

What steps does an heir have to perform

The first step, even if it seems logical, is to perform all the necessary procedures to determine that you are an heir. The first is to obtain a certificate of last will from the deceased. It can be requested in person at the central office of attention to the citizen or in the territorial management of the Ministry of Justice or by mail or Internet. This will determine whether or not the deceased person made a will.

If it did, there will be determined how the inheritance is distributed (beyond the existing legal obligations of distribution), on the contrary, if there is no will it will be necessary to go to a notary (in the assumptions that there is degree of kinship) or to the trial court (if there is no family relationship) to request a declaration of heirs .

The second is to know the existence of life insurance

The second is to know the existence of life insurance

Surely, especially for more direct heirs, they can obtain information directly, either because they have the insurance contract or identify the premium payments. But even in these cases you cannot be 100% sure of having all the information. To achieve this, you just have to go to the Registry of Insurance Contracts with Death Coverage of the Ministry of Justice in person, by mail or online, identifying yourself as an heir to obtain all the information about life insurance on which you will have some right.

The third step is to contact the insurer. For this, the documentation must be presented by which we are designated as heirs that we explain in the first point, which must be accompanied by a death certificate of the insurance holder.

The fourth step, mandatory to be able to collect life insurance

The fourth step, mandatory to be able to collect life insurance

Is to pay the Inheritance Tax corresponding to life insurance. Here you have to take into account an important nuance. By definition, life insurance is not included in the rest of the estate, because it was never part of the estate of the deceased person, the right of collection arises when the death occurs precisely. This would be the case if there were a designated beneficiary, but not in this case if it is integrated into the inheritance.

Of course, the Autonomous Communities, which are those with which the Inheritance Tax is paid offer us an advantage, first make a partial self-assessment only for the amount of the tax. This means that, with a lower outlay than if we did it for the entire inheritance, we can get an amount of cash that often helps us pay the rest of the tax. It should not be forgotten that the total settlement period of this Tax is six months, counted from the date of death.

If you meet all these points step by step you will not only be able to collect all the life insurance you are entitled to as an heir by not appointing beneficiaries, but also to do it more quickly and efficiently.

Benefits of having a good relationship with money | Apply for a Loan

In case sometimes you wonder what for you to take care of your money plus plan your expenses, by means of this list you will see that each effort brings reward. That small details are exactly what make the difference between an individual who maintains a healthy monetary life and those who can still do not learn to handle cash.

 

You can give your self an occasional taste without inside your budget

You can give yourself an occasional taste without affecting your budget

Because in late the month, thanks to all of the planning you have had, you get with an extra money that allows you to definitely go out to eat, take the household shopping and even go on a brief trip.

 

You can encounter emergencies without going broke

bankrupt

Saving a percentage every month for your emergency fund offers paid off. If something unpredicted happens, you know that you have the cash needed to cover a large section of the emergency without leaving the particular wallet empty.

 

You are able to apply for a loan without anxiety about being denied

You can apply for a loan without fear of being denied

Your own good habits and insufficient debt have allowed you to definitely have a good financial popularity. Banks are not going to have to believe hard when deciding whether or not to grant you a mortgage or not. That does not mean that you ought not be careful when choosing, so you can make use of Bertha Mason’s comparator in order to and apply for the personal mortgage you want.

 

You can make the “ big purchase” quicker than thought

You can make a “big purchase” in less time than thought

The particular savings, the extra amounts as well as the minimum amount of debts permit you to buy that appliance that you simply wanted so much or even that will car you thought, without needing to save for three years in the row.

 

You can rest peacefully without dreaming regarding debts

You can sleep peacefully without dreaming about debts

But certainly, the most valuable thing shall be able to go to sleep without convinced that this month you will not have the money and dream silently without any debt crossing right now there.

Acting sensibly with your money does provide benefits. If you have not succeeded in doing so far, start making little changes.