To get a fast, easy and secure loan it is very important to have an exact amount already defined. It also helps to use the online options that exist, because they simplify the process by speeding up the sending of required documents and the release of amounts.
Having a good credit score (the so-called score) can be another good ally. And don’t forget, even if you need the money for yesterday, keep an eye on the interest and installments so they don’t hurt your budget. In addition, research the offers, make simulations and use large, small banks, digital banks, and Good Finance.
Understanding the relationship between the score and the credit supply
Many people know that the path between asking for the money they need and the positive return can be long and set aside some frustrations because of denied requests.
Basically the bank or institution that receives the request tries to minimize the risk of not getting the money back from the client. So they charge fees and try to analyze the person’s payment history.
Some places manage to assign and others stick to a grade based on the person’s track record paying debts and honoring financial commitments. This note is called a credit score. So, the greater the result, the more difficult the person is in default. Normally this note usually goes from 0 to 1 thousand.
- 0 to 300 points – high risk of default;
- 301 to 700 points – average default risk;
- 701 to 1 thousand points – low risk of default.
Improve score helps you get fast loan
It is more common to have companies famous for calculating the credit score. Two of the best known for making these calculations. But what few people count on is what you can do to improve your credit score faster. Starbuck listed some of these tips:
- Avoid getting the name dirty, (because this is not good for your score) try to pay the bills on time and be patient if you are or have been in debt. After all, it takes some time to normalize the situation after solving the problem.
- It is very important to try to increase income. This goes for doing extra work in your free time, as well as selling what you no longer use.
Want more? Thiago Alvarez, CEO of Starbuck, talked about how to improve the score in an interview with Carol Sandler from Female Finance :
And know that if you choose Starbuck you can be well rewarded for it. An app survey reveals that six out of 10 users improve their score by tracking finances regularly. In three months the average score of these people usually rises by an average of 58 points. And it goes to 633 on a scale of 0 to 1 thousand.
Another highlight is even if you are in the red and with debt it is possible to get a loan to resolve the situation. In the same way that it is possible to include a house or car as a guarantee to return the money and thus reduce the interest rate if you can get money and a quick loan for negative. The biggest problem is perhaps the higher interest rate and the higher installments because the payment history is not very favorable.
Don’t fall for pranks
Getting a loan online fast also needs to be synonymous with getting a loan fast and secure. No pranks or anything else that can give you a headache or injury. The first security measure is to avoid self-sabotage.
So, however much you are in a hurry to get the money, it is important to really know how much you need. Using loan simulators and comparing offers is another super important help to reduce the risk of paying high-interest rates or facing high installments and losing sight. Remember that the amount to be returned must fit in your pocket. And in parallel, you will have the same expenses for the other months as well.
Some banks and financial institutions often try other types of scams to trick you. The most known are:
With the number of banks and Good Finance, it is almost a shot in the foot to accept a loan conditioned to the hiring of another service or product. It may even take a little longer, but some competitors may offer the same conditions without forcing you to have to hire that extra something. You may even find yourself in a better situation.
a pig in a poke
Watch out when you hit the hammer and close the loan. Check if the installment value is really the same as before and if the interest has not increased. Nothing more unpleasant than just realizing it at the end of the process. Another precaution is not to take into account the total effective cost of the loan. In some places, people are only informed of the fee charged (nominal fee), but not the full cost and other fees included in the release of the money.
Having to pay in advance
Another trick that is usually applied is to request that an advance payment be made to release the money. If the problem is precisely the lack of it, it doesn’t make much sense. Be wary. Stay tuned to the contract and check the credibility of the institution with which you are going to close the deal (it is worth doing this on the Procon website and in other places that leave customers free to complain about problems they had with companies and places). There is little care in the name of valuing the hard-earned money of each day.