Personal credit can be a good option for those who want to relieve the financial situation and pay off those debts with higher interest rates. However, to be able to use the money in the best way, it is necessary to observe some tips and avoid the “snowball” effect, in which our debts seem to grow out of control. Keep following today’s post and see how to get personal credit and get out of trouble!
Search within your own bank
It is a fact that getting personal credit involves some bureaucracy, but it is easier than many think. This modality allows the free use of money, which can be used for any purpose. Some banks already offer their pre-approved credit to their account holders, which, when available, can be simulated and requested over the internet. Of course, it is worth thinking carefully before taking out a loan. If it is to solve a more expensive question, it is a good solution. But, if you go to buy something you don’t really need, it can give you a headache later on.
You can talk directly to your manager at your account branch and request a credit analysis to get the desired amount. In this case, you will need to provide proof of income and documents from a guarantor, who will be responsible for the debt if you are in default.
Search online credit options
A credit option today is to contract over the internet, with a financial intermediation institution. In addition to being able to offer cheaper rates because their costs are lower, you still have the advantage of being online, with no effort to go to agencies in person and subject to more bureaucracy and delay.
Look for financials outside your bank
Currently, the number of finance companies and credit unions has increased considerably, making personal credit more accessible. A credit analysis is also carried out here and the applicant will have to present documents such as ID, CPF, proof of income and residence to the institution of his choice.
These institutions can credit the money directly to the applicant’s checking account or even provide a card that can be used to debit an account where the amount will be deposited.
For those with a checkbook, it can be used as a guarantee, thus ensuring lower rates and higher credit limits.
Make the best choice
It is important to research a lot about interest rates, always observing if they are fixed or variable. Fixed rates offer more security, while variables can give access to higher values, but in this case it is worth checking the readjustment index to avoid surprises
Those looking for credit to pay off a debt with high-interest rates, such as credit cards or overdrafts, should see if the loan offers lower rates and not delay the payment of installments, so that the debt does not grow and becomes more expensive!
Therefore, plan the payment of the loan well: the amount can be divided into up to 36 months, depending on the amount and form of payment (boleto or debit in account).
To help you plan and ensure that your plan is successful, it is essential to use a financial planning tool, which will help you better control your finances, seeing how much you can spend per month on the loan and when you will be able to pay it off completely.
There are free options on the market that talk directly to your checking account, already recording all expenses made in it, and offer facilities such as grouping expenses by category, in addition to being able to enter daily expenses quickly through your smartphone.
By following these tips, it will be much easier to get personal credit without compromising your financial health! So, did you like our post? Also check out our tips on how to control your budget this year and make sure your bills never go back to the red!