/ My WordPress Blog Mon, 24 Feb 2020 07:28:40 +0000 en-US hourly 1 Credit history: what is it and how to apply? /credit-history-what-is-it-and-how-to-apply/ Mon, 24 Feb 2020 07:28:40 +0000

You need money? Are you thinking of applying for a loan? In that case it is important that you know what the credit history is and its value when requesting financing. This report is prepared both with the data provided by the financial companies and the telephone, electrical or insurance companies, among others, and serves as support for the entities to know the financial profile of the loan applicant. Thus, maintaining a good credit history allows us to access greater financial opportunities, hence its importance.

In this article we are going to explain all the important aspects that you should know about credit history, as well as some good practices that you can consider so that the data they provide is always positive.


What is a credit history?

credit line for individuals?

Credit history is a report that collects all relevant information about our financial behavior. It is a document that details your payment and non-payment file, allowing financial institutions to know how you have managed your finances to date. That is to say, if you are a reliable customer or, on the contrary, carrying out a loan operation with you carry some type of risk.

In short, a credit history is a financial profile. Thus, if you have made responsible use of your finances to date, you will be able to access credit more easily and in much more advantageous conditions. If, on the other hand, you have ever been late in paying the mortgage bill or the electricity bill or telephone has been returned to you, this will be reflected in the dossier, which can negatively influence the decision of a lender at the time of granting you a loan.


Impact of having a negative credit history

credit history

You may be thinking of asking for a loan and want to know which entity can give you more guarantees or facilities to get it or that you have already requested it from your usual bank and it has been denied without knowing why. Both assumptions may be related to a negative credit history.

If it is the case that the report reflects, at the time of the consultation, a bad credit history, it may be that some companies – normally, traditional banks – deny your request when you consider yourself a risky customer. In the case of Fine Bank, we study each case in a personalized way to offer you the credit conditions that best suit your needs and financial situation. While it is true that all our products and services are governed by the principles of responsible lending (responsible lending English), the credit history does not have to be a reason to deny your request, since we will always offer you a solution adapted to your borrowing capacity Thus, to contract one of our online credits,


Where and how can I request a credit history?

credit history

If you are thinking of applying for a loan and want to know what your financial profile is, the easiest way to request your credit history is through the Risk Information Center (CIR) of the Agree Bank. The CIR is a public service that manages a database that includes, practically, all the loans, credits, guarantees and risks, in general, that financial institutions have with their clients.

Any natural or legal person can review their credit life through the CIR, entered on the website of the Agree Bank and following a very simple and intuitive procedure. In the event that, once reviewed, you consider that the data that are declared in the CIR are inaccurate or incomplete, you can contact the reporting entities to request its rectification or cancellation, or request the Agree Bank to process your claim for free.


Keys to having an excellent credit history

credit history

As we saw in previous lines, maintaining a good credit history will allow you to access more interesting financial products and in more advantageous conditions. Here are some essential good practices to keep at all times an attractive financial profile for credit institutions:

  • Design a budget based on your financial capacity: before hiring a loan you should know what your economic situation is and what level of debt you can comfortably assume. In general, experts recommend that the level of debt never exceed 30% of our income. Thus, it is important that you design a budget in which you reflect the fixed expenses that you must face each month. In this way you can know what your limits are when applying for a loan.
  • Be rigorous with the payments: that you delay one or two days in the payment of the mortgage will not adversely affect your credit history, however, if this practice becomes habitual, your bank can communicate it, which could mean a problem when requesting a loan . Keep track of your fixed monthly payments and create alarms with notices for pay days. Today there are applications that you can install for free on your mobile and that help you keep your finances organized. There are no more excuses for you to start controlling and owning your money!
  • Keep track of your finances: having a clear and accurate view of your income and expenses is essential to have a healthy family economy. What we always recommend to keep your finances well organized is to write a financial diary in which you write down your daily income and expenses. Save all receipts, even those of the small morning coffee. In this way you can make a monthly map of your habits, commitments and financial successes.

Being aware of our situation and keeping track of our budget is vital before requesting any financial product. For this reason, it is important that you know your credit history at all times and work to keep it healthy, controlling your expenses and, above all, not acquiring more debt than you can face comfortably and responsibly.

Five things you didn’t know about revolving credits /five-things-you-didnt-know-about-revolving-credits/ Sun, 02 Feb 2020 08:08:06 +0000 Personal loans, consumer loans, mortgages, pledge loans … and now also revolving credits? What is this category of credit with an Anglo-Saxon name? Are we better or are other loan formulas better? Next, we tell you five things about this financing option so you have no doubts about its nature and use.


1. With revolving credit only interest is paid for the amount withdrawn

revolving credit only interest is paid for the amount withdrawn

Revolving credit, although it is marketed with such an exotic name, is nothing more than a line of credit like the ones we offer at MoneyLite Bank. That is, it is a credit policy that a client signs with a financial entity and is characterized by its revolving nature: a certain credit limit is granted that the client may use totally or partially and, as the initial amount is restored, the customer may once again have the initial amount granted during a specific period.

One of its characteristics is that no interest is paid except for the amount withdrawn instead of the full amount of the credit. For example, if we have been granted a revolving loan of 3000 dollars, but for a given month we only need to use 1200 dollars, when we return the 1200 dollars plus the corresponding interest accrued, we will have the 3000 dollars initially granted, so that We can use them if we have another specific need for liquidity.

Also, another of the differences that separate these credits from credit cards is that the money borrowed is transferred directly to our bank account, instead of having it through a card with which we can make purchases or withdraw the corresponding cash. With the card, if we had to face a domiciliary payment, we would have to take out the money and enter it in our bank account so that the receipt could be charged there, while with revolving credits, the money arrives directly to our account, That saves us headaches and inconvenience in this regard.


2. They are also known as revolving credits

revolving credits

Although its Anglo-Saxon name may be somewhat foreign to us at the beginning, financial institutions also market them under the name of revolving or revolving loans. As we said in the previous point, its name comes from its rotating or renewable character. As the refund of the amount withdrawn is made, the initial amount granted from the credit line is recovered.


3. Revolving credit is characterized by flexibility in its return

Revolving credit i

Revolving credits differ fundamentally from one of the usual alternatives, the credit cards in use, in that it is not necessary to make a fixed payment stipulated at the end of the month, but they offer the possibility of paying the borrowed amount in a much more flexible, or repay the debt in advance if we prefer.


4. There are so-called revolving cards

4. There are so-called revolving cards

In addition to the credits themselves, some banks offer revolving credit cards, the characteristics of which can be summarized as purchases or cash withdrawals made with them are deferred until the following month, so you can enjoy liquidity even if no money is available in the bank at that time. Therefore, its operation is very similar to the one of the credit cards of all the life: the limit of the credit card is reduced with the different purchases that are made to its position and it is restored with the payments that are realized monthly.

In general, the customer can choose two payment methods with these cards:

to. Fixed payment

A fixed monthly amount is paid, which will depend on the specific conditions contracted (some entities, such as BBVA, usually impose figures between 20 and 200 dollars).

B. Payment according to a percentage

The cardholder will pay a percentage of the amount used monthly. That percentage will depend on minimum and maximum that will be established according to the conditions of the card that have been subscribed with the bank; The usual limits range between 3% and 25%.


5. Knowing our financial situation is key to proper management

financial loan

As happens when we request any other type of financing, knowing our financial situation is essential to be able to make a good management of this type of loans. Thus, given that interest tends to rise the longer the repayment term is, establishing a monthly budget that allows us to manage our personal finances and allocating the highest possible percentage to the loan will allow us to save a figure that is not negligible in interest. However, its flexibility can also play very much in our favor if we face a particularly hard month economically speaking, so we can adapt the quota to our circumstances at all times. It is also essential that we be realistic and do not resort to credit by system, but use it as an option that can make our lives easier at any given time.

On the other hand, in addition to acting with a head when it comes to managing our finances, it is crucial that, if we opt for a loan of these characteristics, we trust entities that respect the principles of responsible lending or responsible lending, as is the case with Credit These principles can be summed up in three: ethics, transparency and responsibility.

Instant credit with cash payment. /instant-credit-with-cash-payment/ Mon, 30 Dec 2019 07:53:11 +0000


Instant loans can be obtained quickly if the conditions for this are met. A corresponding salary or wage and a good credit rating are the criteria that must be met beforehand. The offers of financial institutions on the Internet are particularly interesting.

Here there are not only loans with lower interest rates, but often there are also no processing fees or free repayment options. These are the advantages of online banking. However, if an instant credit with cash payment is desired, the only way is to a branch bank or an online bank that issues the money with a money order. Those in such a hurry with the loan amount, however, take advantage of the comparison.

Goo lender credit with cash payment

Goo lender credit with cash payment

Some borrowers are only interested in getting a quick approval for an instant loan with cash payment. This is possible with a Good Lender loan because an inquiry takes place via the Internet. The interested party will receive a response within minutes as to whether an instant loan with cash payment is possible.

When all the formalities have been completed, the money can be paid out by the postman at the borrower’s request. This path is chosen when the house bank should not know about a loan. Then a transfer to the current account would be tactically unwise, because this would inform the bank of this fact.

The offers of the branch banks

The offers of the branch banks

If the loan amount has to be paid out on the same day, only going to a branch bank helps, because here the borrower can take the money with them immediately. This does not necessarily have to be the house bank, other branch banks also offer favorable conditions. A comparison on the Internet is quick and always worthwhile. Banks with an extensive branch network also offer their services on the Internet. If you take a look beforehand, you may be able to get a cheaper instant loan with cash payment than with your own bank.

Low income online loans – money instantly /low-income-online-loans-money-instantly/ Fri, 27 Dec 2019 07:59:53 +0000

Repay the loan with your own income

Repay the loan with your own income

The requirements that a person in need of credit must meet so that the banks can also pay off the loan are described with sufficient creditworthiness. In addition to the Schufa query, which must be positive, this also means that a sufficiently high income is achieved. It will only be possible to repay the loan with your own income. The banks do not set any rate on the income. They are based more on experience or average values. A borrower must be able to cover his needs with his income. This includes paying a reasonable rent and keeping other household members, spouses and children entertained with the income.

Depending on the size of the household, banks are required to have a certain income. If the household allowance is deducted, there must still be enough money available so that the loan installments can be paid without any problems. But it can be seen that more and more people are earning a low income. Be it because the job is not a full-time job or because it is in the low-wage sector. However, since it is only these people who can rarely build sufficient reserves, it is understandable that this group of people has significantly higher credit requirements. The checks at the local banks too often result in a rejection of the credit request.

Get a low income loan online

Get a low income loan online

Online loans promise to get a loan with no difficulty. No wonder that the people who are rejected by the branch banks because their income is too low see this as an opportunity to meet their credit needs. However, the direct banks will not easily pay off the loan either. It is still important that there is sufficient income so that the loan installments can be paid.
However, people can often be helped:

  • second borrower for the loan agreement,
  • Loan guarantee,
  • smaller monthly installments so that this burden fits into the budget

A second borrower can be included in the loan agreement. It is important that this comes from your own household, such as a spouse. If this earns its own income, the income situation increases, but the household flat rate remains the same. Thanks to online loans, many people can be helped here.

A credit guarantee is also not uncommon on the online route. Another person with their own income increases the available money each month. This person does not have to come from your own household. With the signature, however, it is also held liable. If the actual borrower does not meet his payment obligation sufficiently, the guarantor must pay for his income so that the loan can be repaid.

Do you know what loans are lost? /do-you-know-what-loans-are-lost/ Fri, 20 Dec 2019 08:00:51 +0000

Within the world of credits and loans, there are many options, each with its own characteristics and particularities. Therefore, when we are looking for ways of financing, it is convenient to know all these alternatives perfectly, since this is the only way to ensure that we choose the option that suits us, depending on our needs.

Therefore, today we want to tell you about a very special type of loans, the so-called lost-fund loans. This type of financing can be very useful to boost your business idea, but, for this, we must meet very specific requirements. Are you ready to know what are the lost loans?


What are lost-end loans?

money loans

Loans or loans to lost funds are a special type of financing in which the return of the money is not required, nor are interest or commissions of any kind charged. However, it is essential that we justify what we are going to allocate the funds granted to us.

Thus, the objective of these funds is to allow entrepreneurs to develop ideas, and they are usually granted by the Government of each country, which uses this financing instrument to move the economy of a country. Therefore, they are usually granted to people whose ideas can end up becoming companies that generate employment, pay taxes and can boost society and the economy.

Obviously, these loans are not easy to obtain, since we will need to justify in detail the project we want to implement and, in addition, we will need our initiative to have options to prosper and grow, in order to boost the economy.

Another example of a loan to fund lost is the one that is reserved for disadvantaged areas or that have been victims of some catastrophe or crisis. In that case, the administration injects a certain amount of money to help resolve the situation and favor the recovery of that area.


Types of loans to fund lost

What risks do I run when applying for a mortgage loan?

As we can see, it is not easy to get one of these credits, so we will have to be very clear about what types of loans are lost to see if our proposal fits. Currently, we can distinguish two types of loans to lost funds:

  • Loans to capital: These loans are intended to finance investments
  • Operating loans: They are aimed at financing the current expenditure of a company. This group includes grants with lost funds, the bonus on the interest rates of a loan granted by a financial entity, the direct granting of low-interest loans, etc.

One of the most interesting types of this type of loans is precisely the grants that are lost, which have the objective of helping to boost businesses or projects with a very specific origin and purpose. As we said, in this case, if we want to apply for this type of subsidies, we must show that the amounts received have been used for that purpose. In the same way, we will be imposed a series of requirements and objectives that we must achieve, since, if not, the subsidy will be withdrawn.

Within the grants, we can find three types:

  • Non-competitive competition: These grants are awarded in order of presentation and are terminated when available funds are exhausted.
  • Competitive concurrency: In this case, all applications are valued. Only the projects that have obtained the best evaluation will obtain the subsidy and, therefore, the financing.
  • Directly: These cases are normally provided for in the general state budgets, and are usually chaired by a public, social, economic or humanitarian interest.


How to get a subsidy thoroughly lost?

credit loans

As you can imagine, these types of grants are frankly difficult to obtain, and there is no exact rule that tells us what we have to do to get these types of loans.

The first thing that we must be clear about is that we can only apply for a loan of this type if our project is interesting enough and has a path and potential to improve the economy or society.

Once we are sure that our project can move forward, we can look for the different grants that are available to us by the local, regional, or national government, as well as the different ministries, councilors or councils. If we find a call that fits our project, we will have to meet the different requirements that appear in it. Above all, it is very important to keep in mind that, if our project gets the funding, we should be able to develop it as we initially planned. Thus, if our project does not go ahead, or the results are not as expected, we will have to return all the money we have received.

Thus, although lost-fund loans are a great alternative, they are not always recommended, and will only be useful in very specific circumstances. Therefore, we will always have the option of using online lending if necessary. In Fine Bank, with our credit line, you can receive up to 5,000 dollars to be returned in a maximum of 36 months. In addition, our financing services are based on the principles of responsible lending, so we will never grant you a loan that you will not be able to return. Finally, our product is very flexible, and you can spend the money whenever you want, paying only for the amount you have used.

Installment loan comparison – cheap installment loans from 2.90%. /installment-loan-comparison-cheap-installment-loans-from-2-90/ Sat, 14 Dec 2019 07:35:06 +0000

In the overview below, we give you a list of the best providers according to various aspects such as the best, fastest or most transparent installment loan . Because the lower the monthly rate, the lower the monthly burden.

Tip : Depending on the individual situation, conditions often differ significantly from the minimum interest rate. So it makes sense to get comparative offers. Please note, however, that information is sent to Credit bureau with every credit request and that a large number of credit request entries in Credit bureau can reduce the chance of a cheap loan. Credit offers without Credit bureau can, however, be obtained at any time and without a Credit bureau note as a comparison offer.

Further information on the installment loan

Further information on the installment loan

As the term installment loan already indicates, the installment loan is a fixed loan amount that is repaid to the bank in “installments”. The loan amount is usually granted for consumer goods such as cars. Therefore, the installment loan is also called consumer loan.

An installment loan can be applied for by any non-legal person who has a permanent employment relationship, is of legal age, resides in Germany, acts in his own name and on his own account and for whom there is no negative entry in the Credit Bureau

People with a negative Credit bureau entry, employees at temporary employment agencies and the self-employed are generally excluded from an installment loan.

The interest rate on an installment loan is fixed for the entire term of the loan granted. In order to receive the cheapest interest rate as an applicant, it is necessary to compare the installment loans of the various credit institutions.

Cost of an installment loan 

Cost of an installment loan 

The term of an installment loan depends on the personal possibilities of the applicant and the amount of the installment loan. Before submitting the application, the applicant should be clear about their financial budget. In order to keep the possible risk of non-repayment of the loan amount as low as possible, installment protection should be taken out. Rate protection is available in various options.

The cost of an installment loan is calculated from the processing fee and normal interest rate. In summary, it can be stated who wants to take out an installment loan as an applicant should calculate and compare some points in advance:

  1. own budget
  2. Amount of the installment loan
  3. Loan term and interest rate
  4. Offers from various banks
  5. check a possible rate hedge
  6. calculate possible alternatives to the installment loan.
  7. The potential applicant can get individual answers conveniently, professionally and factually competently through a credit comparison.