No doubt you have gone through an economic emergency and needed to acquire Credit cards quickly, easily and efficiently.
Of course, a personal loan is not an option due to the slow process, so the two financing methods most common in these cases are a credit card and a quick loan
The Quick loans have become the preferred option for many because of their speed. and the flexibility of requirements requested by customers, and you can even find interest-free loans on the internet, you can access this type of financing without payment or with old debt.
Thus, the user can request the one that best suits their needs. (in value and commission) without the presence of a bank as an intermediary and without having to explain your personal financial situation.
That's why it's important analyze the APR and carefully read the clauses “interest-free financing”, since a quick loan with 0% NIF it does not mean that there are no other costs associated with the entity's commissions.
Due to the security and control you have, the bank card has become a real alternative to fast credit.
interest rate difference
It should not be forgotten that, according to the latest data from the Bank of Spain, credit cards have interest rates up to 18.3%, while the average interest rate of the quick loans is from 7%.
At all times it will depend on whether we have a payroll and if it is an unforeseen expense, then the best option would be a credit card, or if it were a large expense without having a fixed income, then the best option would be a fast credit, giving us greater flexibility in terms of
credit card key
It should be noted that, unlike debit cards where we spend the money we have associated with a bank account, with the credit cards can be postponed payments until the end of the month.
However, if the credit runs out, the amount exceeded by us must be returned and, if we do not have funds at the time of payment collection, he bank will charge interest.
However, it is important to analyze the advantages of the credit card in relation to the payroll loan.
Greater control of expenses
The customer can choose to pay for the purchase made with the card in installments monthly with interest, either pay at the end of the month to avoid the aforementioned increase.
In this way, you can agree on a minimum cost of disbursement with the financial company to avoid charging commissions or other types of surcharges.
However, special attention must be paid to the modalities "revolving", which allow payment in installments but with a type of interest higher than 20%.
The amortizations of the loans granted this way they are paid by paying the percentage or lump sum of the remaining balance.
This is urgent money. But we also risk getting into debt. Thus, the entity will add to the amount owed in the following month plus the corresponding late payment interest.
Security in case of theft
The fast credit is used as a single online payment without any formality, but the Credit cards offer the option of a physical form of payment.
Plus, in case of theft, just call and block the bank Y protect your money and the banks they may offer a fee when signing a contract for these products.
Processing speed
For those who consider simplifying the issuance process the main condition of the quick loans, keep in mind account that banks offer the possibility of contracting credit cards online, form quick and easy, as long as you prove that you have regular income.
You can physically use it from the time of approval until you get home from your phone.
Disadvantages of credit cards
It is true that quick loans, even linked to a financial institution, they give us more freedom, but the Credit cards require us to become customers of an entity and hire a specific service.
So this translates to salary location, pension or social security, among other requirements. To do this, add a monthly payment for the corresponding services.
However, interest rates on microcredits or quick loans can exceed those of credit cards, so they have become a increasingly popular alternative.
However, for those who prefer to opt for a close and personalized service, as well as through physical payment, the Credit cards They are the best alternative to obtain money from fast and immediate way.