Loan: for or against a revolving credit on his bank card?

Revolving credit on the bank card is a product that has been widely debated since its introduction. But what exactly?

Follow the guide to find out exactly what the pros and cons are.

But why a revolving credit on a BC?

But why a revolving credit on a BC?

This banking product is a payment card which includes a reserve of money. Its success is based on the ever-increasing demand for small loans.

It has gradually spread to banking establishments. In the United States, it is even the most popular mode of consumption.

The average interest rate applied to the credit is 18%. The customers who are the most fond of this type of credit product have average incomes, are therefore solvent and juggle their overdraft perfectly.

The good side of an il payment card with a cash reserve

The good side of an il payment card with a cash reserve

Your regular payment and withdrawal card does not cost you more if it contains the revolving credit option. It is therefore a cash advance available at any time, as an option, at no additional cost. It is a consumer credit, and revolving credit, formerly called reviring credit, is governed by the consumer code.

With a revolving credit you can for example avoid an overdraft, without giving up your purchase. You just need to activate the payment “on credit” when paying for your purchase.

You also don’t have any administrative fees and your organization is made easier by having only one card, and therefore only one code.

The risks of a CB with revolving credit

The risks of a CB with revolving credit

When paying for your purchase, the payment terminal offers you two alternatives : either cash payment or credit payment. If by mistake, you enter the wrong option, it is irrevocable. The major drawback is therefore to trigger credit without your knowledge. In which case, it is simply advisable to repay the borrowed amount as quickly as possible so that the interest does not run.

On the other hand, some bank advisers do not hesitate to proclaim to you all the advantages of this CB if they believe that you are the ideal customer.

Indeed, if you have a real ability to play with your overdraft as well as stable income, this is probably the product for you. On the other hand, it is completely unpleasant to have the feeling that the banker is trying to impose it on you!


Official credit for car purchase

Should it be a new vehicle because there were youngsters and there is not enough space or simply need a new car after many years; For civil servants, a civil servant loan is extremely lucrative for buying a car. After all, it has to be a new vehicle if the repair costs become too high or an accident in the daily commute has damaged the vehicle.

In any case, the cost of the loan is the lowest for civil servants, because the income is secure and is foreseeable in the foreseeable future. Therefore, the banks and credit institutions also pay particularly low interest for the relevant professional groups, so that a comparison via an official loan for a car purchase is always worthwhile!

Favorable interest and low costs

Favorable interest and low costs

Experience has shown that a civil servant loan for buying a car has relatively short terms and, at the same time, lower monthly installments, because, on the one hand, the loan amount is not particularly high and, on the other hand, the loan for the car usually only runs alongside. A house or condominium usually contributes much more to the credit burden than the new vehicle.

In any event, long-term collateral for civil servants’ income will keep long loan interest rates low, saving money. The mere possibility to get into debt over a large but foreseeable period enables long-term planning of all loans and is cheaper than other options. The amount of the civil servant loan for any car purchase is limited, simply because savings or the sales proceeds of the old car can ensure correspondingly low rates.

Because the lower the official loan for buying a car, the less interest and monthly installments have to be paid off. So the amount of a loan is decisive for the individual payments. Whether quick payment or a scheduled access, everything imaginable is possible and cheap for civil servants.

Small sum, low installments

Small sum, low installments

With a civil servant loan to buy a car, a slightly larger vehicle than planned is possible because the rates for a civil servant are relatively low and thus enable cheap financing. Because stretching the savings with a loan is pretty smart. Paid off a few years and the debt has already passed; A civil service career lasts a lifetime, not just the next few years.

Due to the predictable amount of income in the next few decades, an official loan for the car purchase is very cheap. Firstly, interest rates are lower, secondly, it is feasible to extend the loan as long as possible, which reduces the individual installments. This is why a vehicle so cheaply received is twice as much fun.

When is my loan paid off | When will my balance be paid?

Hi, guys, I’m afraid my parents are really in debt. pay rent or pay a loan, does not matter? Buy on credit: Banks lend more credit over the internet. Two years ago – credit start. I borrowed almost two and a half years ago.

When the loan is repaid

When the loan is repaid

Now you want to cancel the mortgage of your house bank in the cadastre. For this purpose, the so-called land charge will enter into the cadastre. Once the loan has been repaid, you may of course have revoked the lien. Even if canceled, this process will be referred to as a “registration” or “start-up”. So if you want to be on the safe side with the deletions, should hire a legal advisor (notary or lawyer) with the technical assistance.

For some time, it is possible in “simple cases” to submit land register entries orally to the competent district court. The prerequisite for this is that you only have to make a reasonable effort to obtain the required documents (“as prescribed by law”) and the minutes of the court. * These “simple cases” include not only renaming but also requests for information.

The most important document is the cancellation receipt that you receive from your house bank. Your house bank gives with the deletion document their consent to the cancellation of the mortgage. Once the loan is paid off, you can afford more.

Balance – The last deposit made

Balance - The last deposit made

Now there is no more credit on my heels. My credit has finally paid off. I borrowed almost two and a half years ago. I did not think much about the loan and did not charge much. It was clear to me that I had 3.99% interest, which sounds pretty good, and I wanted to pay out about 200 a year.

The loan should then have a total duration of 60 calendar months. So I always put aside a small part and wanted to repay the loan about half the time. I could have repaid the loan last year after a good 18 years. In retrospect, this loan was a training in my financial life.

Monthly I had to consider repaying the loan. However, I want to completely eliminate the problem of credit. Oh, and whether the motive to buy a holiday home or apartment really comes to my mind. In that case, this loan will have been a good teacher for me. Are you still having problems with a loan?

Mortgage Loan for people over 60: what it is and how to get it

If we are over sixty years of age and need liquidity for extraordinary expenses, health care or to help a child, it may be less easy to access credit. But, if you own a home, there is a way to apply for financing from the bank even if you are past this age group. The solution is the lifetime mortgage loan (PIV).


How does the life mortgage loan work?

mortgage loan work?

The request for a lifetime mortgage loan requires that the bank or financial institution immediately liquidate us an amount equal to about half (but it can reach 60%) of the value of the house we own. The money arrives immediately in the account, in a single tranche, and must not be returned as long as you are alive, but only after your death, with the sale of the house.

To obtain the lifetime mortgage loan, it is necessary that not only those who take out the loan, but also the other people who live in the home that is guaranteed, have passed the age of sixty. The percentage of the value of the house that is recognized as a loan depends on various factors, such as the age of the applicant and a range of maximum and minimum amounts provided by individual lenders.

After the death of the person who took out the loan (in the case of a spouse or a more uxorio partner in the house, upon the death of the longest-lived of these) the bank takes possession of the house. Within 12 months of the contractor’s death, the heirs, if they wish, can pay the balance of the debt (plus interest and expenses) or sell the property. After this period, the bank has the right to sell the property, at the price set by an independent expert, without having to resort to an ordinary judicial executive procedure, reducing the price by 15% every 12 months.

If the final price of the property does not fully cover the amount of the amount lent and the interest accrued, it is good to know that the bank will in no way be able to rely on the heirs. However, the debt is considered paid once the bank has taken possession of the house. On the contrary, but it is a remote hypothesis, if the house is sold at a higher amount than that necessary to cover the debt with the bank, the possible surplus is up to the heirs.


Life-held mortgage loan, what to do attention?

Life-held mortgage loan, what to do attention?

The lifetime mortgage loan is a loan formula that does not pose major concerns (the figure, in a sense, is already paid by the house guarantee) but it is still necessary to pay attention to two circumstances that involves the immediate repayment of the loan to the bank. The first has to do with the sale of the house: if the property given as collateral for the loan is sold, obviously the guarantee no longer exists and therefore the loan must be repaid. The same thing happens if acts of willful misconduct or gross negligence are carried out on the house or even works and renovations that significantly reduce its value.

In this case, the property given as collateral is no longer that shown to the bank and on the basis of the value of which the loan amount had been agreed and, therefore, the contract lapses and the amount must be returned.