The end of the year arrives and you probably have some other expense that escapes your current finances, then the idea comes to mind: “What if I take out a loan ?
A personal credit is not a bad idea when you need money, but you have to be aware of the cost of the interest you will have and your payment possibilities. With a planning and using the loan in something necessary or profitable you can take advantage of it.
In this note I leave you some information that you should keep in mind if you plan to ask a bank for money .
Have your credit history in green
Before you think about asking for a loan or credit, try to have your credit history clean . You can learn your credit history for free on the Sentinel page, on the SBS website or through the Good Finance self-assessor .
Have financial activity
If you do not have financial activity it will be more difficult for you to get a loan. If you passed point one there is no problem with this. If this is not the case, the bank will most likely evaluate your ability to pay , for which not only will the fixed amount you earn each month be sufficient, but also provide a payment support.
Don’t let them choose you: choose you
Other than the bank calling you to tell you that you approved for a loan , choose the highest bidder. How is that? Well, the one that offers you the smallest TCEA ! You don’t want to pay more interest and commissions to a bank if another offers you less, right?
An additional advice that I leave you, is that whenever you take out a credit do not go by the bank that offers you the longest payment time. Remember more months more interest you will pay. Pay your debt in the shortest time possible.
Comparing bank offers is also prudent to reduce interest payments. You can find the best option for you at Good Finance : credit to your needs in a few steps.