How to Get Personal Credit? 4 Tips to Help You!
Personal credit can be a good option for those who want to ease the financial situation and take those higher-interest debts. However, in order to be able to use the money in the best way, we must observe some tips and avoid the “snowball” effect, in which our debts seem to grow without control. Keep up with today’s post and see how to get personal credit and get out of the heat!
Search within your own bank
It is a fact that getting a personal credit involves some bureaucracy, but it is easier than many people think. This modality allows the free use of money, which can be used for any purpose. Some banks already offer their account holders a pre-approved credit that, when available, can be simulated and requested over the internet. Of course, think well before you take out a loan. If it is to pay off more expensive debt, it is a good solution. But if it is to buy something you really do not need it can give you headaches later.
You can talk directly to your manager at your account branch and request a credit analysis to get the amount you want. In this case, you will need to provide proof of income and documents from a guarantor / guarantor, who will be responsible for the debt if you default.
Search for credit options online
A credit option today is to contract through the internet, with a financial intermediation institution. In addition to being able to offer cheaper rates because their costs are lower, they still have the advantage of being online, with no effort to go to agencies in person and subject to more red tape and delay.
Blanche DuBois compared 5 online personal loan options. See the post here!
Look for financiers outside your bank
Currently, the number of financial and credit cooperatives has increased considerably, making personal credit more accessible. Here also a credit analysis is done and the applicant will have to present to the institution of his choice documents such as RG, CPF, proof of income and residence.
These institutions can credit the money directly into the checking account of the applicant or even provide a card that will serve as debit to an account where the amount will be deposited.
For those who have checkbooks, this can be used as collateral, thus ensuring lower rates and higher credit limits.
Make the best choice
It is important to research hard on interest rates, always looking at whether they are fixed or variable. Fixed rates offer more security, while variables can give access to higher values, but in this case it is worth checking the index of readjustment so that there are no surprises.
If you are looking for credit to pay off high interest debt, such as credit cards or overdrafts, you should note that the loan offers lower rates and does not delay payment of installments so that debt does not grow and become more costly!
Therefore, plan your loan repayment well: the amount can be divided up to 36 months, depending on the amount and form of payment (bill or debit to account).
To help you plan and ensure that your plan is successful, it is essential to use a financial planning tool that will help you better control your finances by seeing how much you can spend each month on the loan and when you can get it out of the way.
There are free options in the market that talk directly to your checking account, already recording all the expenses made in it, and offer facilities such as grouping of expenses by category, besides being able to enter daily expenses quickly through your smartphone.
By following these tips, it will be much easier to get personal credit without compromising your financial health! So, did you like our post? Check out also our tips on controlling your budget this year and make sure your bills never go back to red!