Archive 2019

Easy money loans -I need money now and fast

Borrow money quickly at your leisure. Whenever you need money very quickly (preferably immediately), a quick loan is right for you. A so-called fast loan is in most cases an online loan with instant confirmation. To bridge the bottleneck you need fast money in your account. In this extremely spicy emergency situation, only one thing is important to many people – it has to be quick.

I need money now and fast

Do you have a minus account? Do you need some money? You may review exclusive loan offers from BridgePayday. You get your money provided for free. You can, for example, use the money to balance your account, for new furnishings or to buy a car.

We will answer your questions immediately and free of charge. Even if you already have a loan, you have a good chance of getting a new loan. You will receive the desired amount immediately after the credit approval by bank transfer or as a cash payment. For example, would 4,000 USD directly relieve your financial situation?

fast credit

fast credit

Whenever you need money very quickly (preferably immediately), a fast loan transaction is right for you. A so-called fast loan is in most cases an online loan with instant confirmation. Because: Conventional credit institutions usually can not issue instant loans due to strict conditions and credit standards.

Target interest rate of 4.83% – 15.49% (depending on credit rating) over the entire term, annual percentage: 4.90% to max. 15.99%, net loan amount: USD 1,000 – 100,000, contract period: 12 – 120 months. Representative example: Target interest rate 7.98% fix for the entire term, effective interest rate: 8.29%, net loan amount: USD 10,000, contract period: 72 months, monthly installment: USD 175.29, total interest expense: USD 2620.68, total -Payment (including all fees): USD 12,620.68.

A good quick loan is as flexible and cheap as a classic rate loan, but on the other hand, it spares a lot of time, nerves and annoying paperwork. Your preferred point of contact for a quick loan is either microcredit (small loan with immediate payout) or highly specialized online credit banks, which also provide larger amounts of fast loans.

The least bureaucratic burden comes to you with the mini-fast loan (50 to a maximum of 3000 USD). You can expect to have the money in your account here, no later than the day after the instant confirmation. The repayment period is up to 30 days, but you can also choose to create a cache and repay the fast loan in several installments:

The target interest rate of 4.83% – 15.49% (depending on credit rating) over the entire term, annual percentage: 4.90% to max. 15.99%, net loan amount: USD 1,000 – 100,000, contract period: 12 – 120 months. Representative example: Target interest rate 7.98% fix for the entire term, effective interest rate: 8.29%, net loan amount: USD 10,000, contract period: 72 months, monthly installment: USD 175.29, total interest expense: USD 2620.68, total -Payment (including all Fees): USD 12,620.68.

The quick loan as a classic installment loan at online banks is usually granted with terms of up to 36 months (sometimes longer) and the maximum amounts with good credit are in the range of 50,000 to 70,000 USD: You want to get money on your account as soon as possible. Therefore, here are the key benefits and benefits of the quick loan in a nutshell and at a glance:

Even in the micro-credit sector, the top provider offers a quick loan without creditworthiness or fast credit without submitting the relevant documents. Solve all types of financial problems with a quick loan! You then have the best chance of getting a quick loan with instant confirmation. The quick loan without proof of income or the quick loan for unemployed or students can be obtained most easily with a competitor in the online form.

It is best to name a personality from the circle of acquaintances with excellent creditworthiness. Those who apply for a credit on the Internet can count on their account with a quick buck thanks to the more modern VideoIdent procedure and the reduced credit check the following day. If you really need the full amount of the Express Credit, you should take the opportunity to arrange an express transfer under the name of Lightning Protection.

It is advisable to use our online credit comparison tools in advance to select the best provider for the instant loan and / or the instant loan at no extra cost for financing and submit a loan application there. If you really get a cancellation, eg because your earnings are too low (at least 600 USD, but preferably 1000 USD and more), then you still have the option of a “private to private” loans on loan markets for the fast loan on the net claim.

Conclusion: In the Internet age fast money through fast loans is possible without any problems. For microcredits, there are already fast loans with medium credit rating and relatively low earnings, but simple but serious. When you book an instant loan quick loan, you can often count the money in your account the same day.

Should I take out a payday loan to cancel the credit card?

Applying for a loan to settle the debt owed to the issuer of the credit card is an option to catch up with the payment, when you do not have the money to pay the total consumption. However, it is not always the best solution. The aspects you have to consider.

The credit card is one of the most commonly used financial tools to make payments when it comes to high amounts of money or cash availability is not available at the moment. But just as it often works as a “lifeguard,” it can also play against us.

Its excessive or inappropriate use can cause us significant debts to the point that we end up paying only the minimum payment (the smallest amount requested by the entity and not the total monthly payment), being caught in constant indebtedness. It is common for the high default interest charged by card issuers to make the debt an unpayable snowball, making the situation regularize, on many occasions, after years.

Although we never recommend reaching this instance

Although we never recommend reaching this instance

there are different alternatives to address this problem. What can you do about it in case you find yourself in this situation?

A possible solution is to make the minimum payment of the credit card until you can pay off the total debt, knowing that, over time, the amount to be paid will increase due to the interest incurred. Another option is to request a payday loan to get money and thus cancel the total balance of the card at one time. The goal is to replace this debt with a cheaper one.

When should it be done?

When should it be done?

The minimum payment is an irresistible temptation that can be very expensive. Therefore, we recommend that before incurring new expenses, analyze the possibility of taking a loan. When applying for a payday loan to cancel the debt you have with the credit card, it must be clear that the purpose of this operation is to cancel the amount owed in a single payment, assuming a new debt, but cheaper.

In this way, it is possible to access loans with lower rates and longer terms to minimize the percentage of the monthly personal budget that should be used to pay the last debt, compared to the one originally had.

Likewise, before making the decision to apply for a loan, we suggest you read the “fine print” carefully to make sure this tool is really a solution, and not a problem. For that, you have to pay attention to the Total Financial Cost (CFT), which represents the real cost of your loan. This is the final percentage you will pay as a refund of the credit you requested.

What loan options does the market offer?

bank

There are different types of credits that you can use in this situation. We tell you what they are, how they work, their pros and cons, and what you can do about it:

1. Apply for a loan specially designed for debt cancellation. It is an interesting alternative if you have more than one debt with several financial institutions at the same time. Through this loan, the client accesses quality financing to cancel other debts. For example, the debt consolidation loans of Good Financial have optimal conditions as they provide the benefit of paying lower interest over longer term.

2. Request a credit from the bank that issued the card with which you borrowed. The same entity sometimes offers payday loans that you can ask for in order to pay the debt. The issuer of the credit card will be interested in finding a solution to the problem, so he will try to facilitate the process for you to access the requested loan with low monthly installments for a longer term. However, this option may not be entirely convenient, since increasing the period of time to pay off the credit, your debt may increase and you end up paying more money in the long run.

3. Opt for a traditional payday loan. Banks provide conventional lines of credit with terms of up to 5 years. The counterpoint is that the requirements requested are usually more difficult to meet, with strict evaluations. Unlike the previous options, there is a greater chance of your request being rejected.

4. Apply for a loan quickly and easily online. We know that having a card debt is an urgent problem that requires an imminent solution. Fintech offers online credits that process applications quickly, facilitating approval and disbursement of money in a short time. However, it is necessary to clarify that many of them have rates above 400% so they end up being inconvenient.

Faced with this, Good Financial secured loans with rates from 24% in UVA are positioned as the healthiest option for those who do not want to incur an unpayable debt. Its technological solutions optimize loan application management processes, in order to provide better credit conditions to users who can access the service from their cell phones or computers.

It is important that you know that these alternatives are always subject to approval by financial institutions. This means that you should check with each one your particular situation to determine if the loan is suitable or not for you and under what conditions you should take it.

Credit Card Usage Errors That May Damage Your Credit Rating

Credit cards can be both your friend and your enemy, but it will be exactly what will depend on your credit card usage and your overall financial situation. Using all the credit card discounts and benefits is one thing, but always make the most of your credit card credit limit and without paying more than the minimum amount of repayment on time, you can quickly ruin your previously accumulated good credit rating. For anyone who plans to borrow money in the near future or in the future to buy a car, apartment or house, or to consolidate debt, it is important to maintain and maintain a positive credit rating. However, life can pile up at any moment and we can’t always get 100% ready in advance. In order to make sure that you are prepared for such unexpected events, where you will need to borrow additional funds from TOP creditors of Latvian creditors, it is useful to take various measures now in order to maintain a positive credit rating and avoid frequent credit card mistakes.

Listed below are the most popular ways that people can lose their good credit rating by using credit cards in their daily routine. Pick up or characterize any of these habits and explore – how you could change it in order not to cause irreversible harm to your credit rating.

 

To repay your credit card overdue too quickly

To repay your credit card overdue too quickly

It is absolutely true that the efficient use of credit cards can help create a positive credit rating. However, if you have been successfully out of debt and are worried about premature returning to the same situation, if you actively use a credit card, then it may be very tempting to repay its balance as soon as it is used. From a cash management point of view, this is a very good practice, but it will not help to create a positive credit rating. Your credit card should ideally reflect activity and a small overdraft, even if it is very small, because the credit card issuer reports its usage information to credit bureaus. Information about this month’s payments is reported next month and you start accumulating a positive, non-existent or negative credit rating. If you are using the money available on your credit card and are paying off the balance right away, it will not appear in the monthly reports as a credit card asset. Therefore, while it is always profitable to repay your credit card balance by the due date for that month, you should not, however, have to make regular repayments before the due date.

 

To repay your credit card overdue too slowly

To repay your credit card overdue too slowly

Some people tend to joke that they have the best customers in their bank because of all the interest paid and penalties imposed. Regardless of what you often hear, lenders are only pleased that you are such a “great customer” who pays the highest interest, the unpaid balance that lasts for years is bad for your credit rating. If you have a debt that is never fully repaid, it can be a testimony to the lender that you have more debts than you can afford to pay. When this happens, lenders become very careful about you as a customer and assume that you could also conceal other debt that you have committed to solid lenders. Credit card debt overdue repayment or its full non-payment in the long run can significantly reduce your positive credit rating.

 

Holding a credit card for use in emergency situations only

Holding a credit card for use in emergency situations only

Many people have heard that credit cards, which they do not actually use on a daily basis, keep them as an airbag for unexpected situations. With the idea that if something happens, they will be able to pay for it with a previously unused credit card. When you rely on a credit card to save you only in these rare situations, and it is a card you do not use at all on a daily basis, you may actually not be available suddenly when you need it most. Why? Because unused accounts are liabilities to both the cardholder and the credit card company. If someone with bad intentions suddenly gets to the unused credit card account number and other details, then they would have every chance to have fun with your credit card before you notice it several months later when you decide to use it and, for example, connect do it online. Unused cards usually do not hurt you every month, so you should not pay attention to the review of their activities. It may take several months before you notice any fraudulent activity. And if you are applying for a credit card, with the idea that you will use it only in an emergency and have not activated it after receipt, the credit card issuer will most likely close your dormant account after some time without notice. Activation proves that you have received a card, so deactivating the card makes it a big unknown and easy risk object. A more sensible strategy is to work on setting up your emergency fund and increasing your savings outside the credit card context. In this way, you will have the necessary money at your fingertips to use it in emergency situations. If you want to keep your credit card separate for your peace of mind, then you should use it at least once a month, for example, to pay for a particular product or service each month, so that it can display regular activities that will activate your credit rating in a positive direction.

 

Closing a credit card account when it still has a balance

credit application

If you try to repay your credit card debt every month, but still feel tempted to use it on a regular basis, you may find that closing a credit card account is your best option to refrain from such a temptation. Although globally this is really a good way to take control of impulse-driven spending in your budget, however, if you talk about your credit rating, then it is not the smartest idea. The lower your debt on your credit card in terms of its limits, the better it is for your credit rating. If your credit card account is open, you have a limit and your balance is below that limit. However, when you close an account (or, if closed), the limit is reduced to zero, so any amount you pay is higher than the approved account limit. If you exceed the limit, you lose your credit rating. If you want to avoid impulse-driven spending with your credit card in your life, deliberately damage your card so you can no longer use it and store it in a drawer. When you have repaid the overdue limit, and if you want to use your credit card later, call your bank and ask for a replacement of the damaged card.

 

If your goal is to direct your credit rating on the right track

credit application

it may take some time for you, but remember that all the small things you will do for it will have a positive impact. Unfortunately, there is still no quick program to ‘repair’ your negative credit rating, you need to count the time reserve. But if you practice good money management in your daily practice and improve your financial skills regularly, you will expect a more positive result sooner.

Mortgage loan for an apartment

The activity of banks and issues related to various types of loans are unfortunately a mystery and an unsolvable puzzle for many of us. A cash loan? Mortgage? Credit installment? Interest? “In what language was all this written?” – they seem to express the terrified looks of bank customers. We are in a hurry to answer – in the banking.

Which, unfortunately, is not an easy language, as anyone who has ever tried to get the bank’s help in the matter of credit has had the opportunity to find out. How to make it easier for clients to use banking services? More than one person has already taken up the challenge of simplifying all banking formalities so that people simply stop being afraid of them.

One of the inventions that are supposed to be a kind of relief for borrowers are loan comparison websites that help the consumer assess which bank offers the cheapest mortgage . We do not hide that this is an extremely useful device. It helps the helpless client lost in the thicket of loans to choose the best offer that best suits him, which will make him happy with the loan he has chosen and at the same time will be able to fulfill his dreams or fulfill his plans. in the last few years.

Loan comparison

Loan comparison

Internet loan comparison websites are therefore really worthy of recognition and recommendation and we are very happy that one wise man came up one day with the idea of ​​financing such an invention.

In addition, a special website was created last year, whose creators were guided in their actions primarily by the good of those who could not determine which bank would offer them the best option. However, this is more than just a regular web comparison engine. When we go to the site in question, we are presented with a special questionnaire, which allows us to assess the possibilities we have (creditworthiness – remember, however, that the portal calculates its approximate value, however, only the bank can give us the exact exact amount after consultation), and what we really need.

There is a lot to fill out, but we can be calm because they are not stored or stored anywhere. So we need to determine what we need the loan for, how high we think it should be and for how long we want to pay it back. After completing the form, all of our answers are summarized by specialists, who then assess what offer of which particular bank will be most beneficial for us. Is this invention useful and helpful? Of course. Especially for people who feel completely lost and wringing their hands, having no idea how to go about searching for a loan offer and browsing the catalogs of individual banks.

A notable “invention” created this year is Internet First Aid, as the originators decided to call it. What is this first aid really and what does it boil down to in practice? We are in a hurry with explanations. This is a special website that aims to provide specialized assistance to current and future bank customers. It should be used especially by those who completely cannot find themselves in the complicated, hostile world of banking and finance.

What does this help boil down to in practice?

What does this help boil down to in practice?

Well, you can reach her on two levels. One of them is a multimedia, interactive internet glossary, full of difficult concepts and links to websites that can further clarify incomprehensible issues. In addition, numerous slogans are also accompanied by illustrations, diagrams or videos aimed at bringing the subject to an even closer focus.

The second level of help is a specially prepared form, by means of which website users can contact its moderators directly. A message with a question sent by an Internet user is directed directly to the experts located on the other side of the monitor who guarantee that they will answer the questionnaire in less than twenty-four hours, i.e. a day. This is really an impressive response time, which encourages you to use the described service.

What can you ask for? Literally everything that bothers us. There is one condition – it must be even loosely related to the subject of banking or finance. The originators emphasize that they also received questions such as “How to prepare homemade muffins?” Or “What green tea is the best?”, However, as they say: “it’s either a joke or a mistake. We would prefer it to be the second option. ” Of course, they do not intend to answer these questions.

Best Credit Cards for a Business Trip

Business trips are now part of everyday life for many people. Unfortunately during a business trip you can not enjoy the company of your family, so you comfort yourself with the presence of your credit card. However, the latter may fail you and not be accepted in all payment points. This can be very annoying, especially if you are abroad and have no other solution.

It is therefore important to have a credit card that will fully meet your needs. In addition to being able to pay everywhere, some bank cards have many benefits that could be beneficial to you.

Pay and make withdrawals in Belgium and abroad during your business trip

Pay and make withdrawals in Belgium and abroad during your business trip

Nowadays, the majority of credit cards make it easy to pay and withdraw money in Belgium and abroad. There are three main payment processing providers: Visa, Mastercard and American Express. Thanks to them you can easily pay anywhere in the world. It is therefore important to choose a credit card from financial institutions offering one of the three payment processes, the most easily accessible being Visa and MasterCard.

You can compare, through our comparison platform, all credit cards offering these systems.

Compare all credit cards

Advantages of credit cards during your business trip

Advantages of credit cards during your business trip

Credit cards have many advantages. We can mention cashback and points. But for frequent travelers, it will be mostly miles or travel insurance that will be relevant. You will be able to travel protected and accumulate miles to save on your next trips

Here is an overview of some Newdirect Bank and American Express credit cards with mileage benefits and offering the best travel insurance:

miles

Travel insurance

Annual subscription

Newdirect Bank world travel MasterCard 1 mile for every euro spent Travel cancellation insurance, travel accident, delayed flight or luggage and medical assistance

Purchase insurance and one year extended warranty included

€ 50 (cost of an additional card 20 € / year)
Brasswells Airlines Preferred American Express 1.25 miles for every euro spent Travel accident insurance, personal assistance, trip cancellation insurance, fraud insurance

Purchase insurance and one-year extended warranty

€ 120 (cost of an additional card 40 € / year)
Brasswells Airlines Premium American Express 1.5 miles for every euro spent Travel accident insurance, personal assistance, trip cancellation insurance, fraud insurance

Purchase insurance and one-year extended warranty

€ 150 (cost of an additional card 50 € / year)

You can now, including through our platform, compare all credit cards and choose the benefits that will make you fully enjoy your trips. You have the guarantee of a payment method valid worldwide, as well as many insurance included, which will allow you to travel with confidence. You can also accumulate miles that will benefit each business trip.

Tips for getting the right home insurance

Home insurance is obviously very important, but do you know exactly what you need your policy to cover? Also, do you know the difference between construction insurance and content insurance? Should I get a policy that combines both or need to compare prices? The more you know about insurance and exactly what you need, the less likely you are to make the wrong purchase decisions.

Compare your options

cash

When you have an extensive list of things to do, it can be attractive to simply have tasks marked as quickly as possible. Of course, it is rarely the best course of action. Take your time and research the home insurance options that best suit your circumstances. Compare different offers and deals, evaluate the cost and then make an informed decision. Remember, home insurance is there to protect you, so be sure to choose a policy that covers it properly.

Always expect the unexpected

cash

Insurance is designed to help you in case your home is stolen or if something goes wrong, but remember that unexpected events can always occur. Does your policy cover fires, floods or lightning that falls in your chimney? Read and digest the A&B, and don’t rule out “acts of God” simply because they occur rarely.

Understand how to file a claim

cash

We hope you never have to make a claim about your home insurance. In the best case, everything is going well and you live in harmony, but it makes sense to understand how to make a claim in case the situation arises. Read the fine print, and also take the time to talk with your insurance provider. Ask them about the claim process as soon as you have decided on the policy you are going to follow and be very clear in your mind about what is required. As we said before, the best case scenario is that you will never have to do it, but you will not lose anything by being fully informed.

Mortgage – promotion

One of the biggest dreams of every man is to have his own home. If you also belong to people who would give a lot for an elegant villa in the suburbs, you’ve come to the right place! Can you imagine marble floors, a wonderful evergreen garden, a several-meter pool and a heated jacuzzi in which you sit, enjoying a tasty drink or a glass of dry red wine?

Do you dream about enjoying the luxury, eating caviar truffles and drinking the most expensive French champagne? Would you like to allow yourself to send your children to the best elite private schools, and after classes be able to provide them with favorable conditions for learning and playing at home? A house at the sight of which your friends visiting your daughter would shout: “This is a palace, not a house. A real castle for princesses! “

For a moment, but only for a moment let’s get out of the realm of waking dreams and look at the possibilities of your wallet. Are you sure you can afford to build this personal paradise on earth? Yes, you have a well-paid job with an indefinite contract, but even you, such an incorrect optimist, have to face the truth. You are not a multimillionaire, you can forget about this type of luxury. Are you sure? And if it turned out that with some help from the relevant institutions, you were able to let this dream come true, wouldn’t you take advantage?

It would be a sin not to take advantage of the opportunity, because only now you have a unique chance to realize this crazy idea at first glance. It won’t be cheaper. It won’t be better.

Only now mortgage – promotion!

Only now mortgage - promotion!

Only you can decide to get a loan on extremely attractive terms. Only with us you have the chance to make your wife the happiest woman under the sun, and your children the most proud of their dad’s toddlers in the entire galaxy.

Who would not want a two-story house with a charming attic and a game room in the basement? Who doesn’t dream of a backyard farm for horses with a paddock extending to the horizon? Do you feel how beautiful it would be to go on terrain on the ridge of the best blood of a mount in the nearby forests and meadows? You could even get to the coast on it and walk on the golden sand and the sea water. Or maybe you are tempted to locate your villa on the lake shore?

So that you can admire the beautiful views of the sun setting behind the tops of trees from the terrace? Some studies show that in addition to a luxury car, real men also dream of a blasting moped boat, on which they could serve beautiful and undifferentiated ladies sweet drinks and treat them with greek greens and blue cheese of the highest quality. Of course, not everyone can afford it here and now. But but.

Anything is possible with our loan. Easy to repay, spread as many installments as you like and completely safe. What more could you want from this type of loan? Imagine building a golf course behind the house. Your contractors will be able to bring business meetings to a specially designed office near your own property, and then you will indulge in the pleasures of playing one of the most elegant and prestigious sports in the world.

Or maybe, remaining on the subject of recreation, after making a profitable transaction, you will want to fight with your business partner in a tennis tournament on your personal court? Is this luxury and noble sport a good testimony to man?

No matter what passion you would not have imagined, everything is possible in your home “from gold”. Do you love to train, but getting to a nearby gym and standing in traffic jams during peak hours is unbearable for you? No problem – build your own fitness room and forget about sweaty individuals who every now and then have you on your favorite weight training machine.

Best quality house

Best quality house

Do you love movies and would always like to watch them in the best quality, but you do not feel well in the presence of grunting, coughing and crispy popcorn cinema viewers? Create your own entertainment room with our promotional loan. With the best projectors and sound systems in perfect conditions, you’ll be able to indulge in the passion of cinema.
What would you say to a private pool table? Maybe table football and your own ping pong? And of course, a home bar with the best drinks in the world with an elegant counter and hookers? It’s all at your fingertips. Dare to reach out. 

Rather renovate than sell your house – Renovation Loans

Prices on the housing market are still rising. Due to the high house prices you may wonder what is more sensible to do: renovate or move? Read more in this blog about why it is smarter to renovate than to relocate.

Renovate or move?

Renovate or move?

Are you actually satisfied with the home that you have now? But does your home need a makeover? Or do you live to your liking but do you miss space in your house because family expansion is on the way? In both cases, a renovation can offer a solution. For example by placing a dormer window, an extension of your living room or a new kitchen. Or maybe your bathroom needs a renovation. Whatever your housing requirements are, make a good inventory of the costs in advance so that you can make an informed decision: renovate or move.

The costs of a dormer window, new bathroom or kitchen may be lower than a move. Don’t forget that extra costs are also involved in a move. Often the new home needs to be painted and new curtains have to be added. It is very important that many other costs are involved in a relocation: think of transfer tax, notary and closing costs (costs buyer). In addition, you will also have to deal with the new tax legislation regarding the limitation of mortgage interest deduction.

And if you have to sell the old home at a loss, moving becomes an expensive affair. It is also possible that it takes a long time to sell your old home and that you are therefore temporarily dealing with two homes and therefore with double housing costs.

Existing owner-occupied homes have become 7.2 percent more expensive in May this year than a year earlier, reports the Central Bureau of Statistics (CBS). All the more reason to consider a renovation to save money.

Renovate bathroom or kitchen

Renovate bathroom or kitchen

Rebuilding your bathroom or kitchen is a smart option. A new bathroom or kitchen is often a big expense. Therefore, first determine your budget in advance. Request a quote from different contractors to get a good idea of ​​the costs. You can then compare the costs of a new bathroom or kitchen with each other and thus make a good choice as to which party you wish to work with in order to have your renovation realized.

Home improvement? Take unexpected costs into account

Home improvement? Take unexpected costs into account

Always keep an amount separate for unforeseen costs when renovating your house. If you take a new bathroom or kitchen, for example, damage can come up after demolition. Such a repair costs extra money. Nibud advises to keep 5% of the quotation price at bay for unforeseen expenses.

Financing renovation

Financing renovation

A renovation is a major investment. Do you have insufficient savings? Then a renovation loan is a good option.

The National Credit Checker offers a suitable loan to pay for your renovation. At ABC you borrow money for a renovation on clear terms and with the best interest.

 

Why is it important to know before applying for a loan?

When it comes to requesting a loan from the bank, a financial institution or a cashier, we have heard that the key point to which we must pay attention is the TEA, which means the Annual Effective Rate, or in other words, how much interest we will be charged for the money they are giving us.

But did you know that a bank that offers a lower ASD may prove to be more expensive than another?

Although interest is one of the main costs

Although interest is one of the main costs

This happens because the ASD is not the only thing you will have to pay when you borrow money. Although interest is one of the main costs, there are some additional charges that have to do with commissions, insurance, shipments of account statements, among others.

Since not all of them will have the same value

Since not all of them will have the same value

These charges will vary depending on the financial institution you choose, since not all of them will have the same value. For this reason it is possible that a bank charges you very low interest, but its commissions and insurance expenses are higher, while another charges normal interest, and its additional charges are cheaper. Which means the Annual Effective Rate, or in other words, how much interest we will be charged for the money they are giving us.

To find the ideal option

To find the ideal option

So, to find the ideal option, it is necessary to look beyond the TEA, and look for how much the TCEA or Annual Effective Cost Rate equals, since this percentage represents both interest and additional expenses, that is, it shows you what you will truly pay for the credit you are looking for.

It may sound complicated, but in reality all financial institutions offer this information and explain it in detail. In addition, you can compare them all using the comparator.

Remember, the more informed you are, the better decisions you will make.