Do you need money quickly to finance a purchase, and are you wondering how to benefit from the best credit online? Already, the fact of opting for an online bank instead of a traditional bank is to be welcomed; the advantages of online loans compared to traditional bank loans are numerous. However, there are many players in online credit, offers abound: it is not always easy to evaluate them, compare them and choose the online loan best suited to your needs and your situation. We’ll give you some tips, point out some pitfalls, and show you how to find the best loan online.
How to get credit online?
There are two solutions for applying for credit online.
The first solution is to use a online credit comparator. These comparison tools are designed by professionals in the banking field, as is the case with matchbanker. This online loan comparison platform is intuitive and interactive. We recommend that you always favor a reliable credit comparator. However, you must first determine, after careful consideration and analysis of your financial situation, the famous couple duration / monthly payment: a loan is a commitment to be honored; choose the most suitable monthly payment.
The first solution is to submit your loan application directly on the sites of several credit organizations, launch the simulation (if this feature is available) and do a long comparison job.
Read also: The French subscribe more and more to online credit
Couple duration/monthly loan online, balancing act?
The basic credit axiom is: the longer the repayment period, the more expensive the credit.
Also, any online credit applicant is tempted to lower the repayment period to benefit from an inexpensive loan. Only, the monthly payment is likely to be high, and can even exceed the debt ratio: the probability of refusal is high.
If you apply for a loan online, balance rate and duration. Admittedly, a short term makes it possible to find cheap online credit, but it is better to choose the combination that takes into account your repayment capacity: your well-being is at stake!
How to get cheap online credit?
Determining the conditions of your online loan (duration and monthly payment) allows you to provide the same data to all online credit organizations. Thus, the comparison of offers will be objective (this is what a good credit comparator allows you to do without wasting time and energy).
In this regard, another axiom in terms of online credit must be applied: under similar conditions (monthly payment/duration), the cheapest credit is the one with the lowest APR.
Mentioned on all loan offers, the Annual Effective Rate (APR) includes the interest to be paid and any additional costs (administrative fees, etc.); it represents the real cost of online credit.
Play the competition
Before validating a request for credit granted with a reduced APR, nothing prevents you from using it to snatch other more interesting offers from competitors (physical or virtual organizations). The intensity of competition and the multiplicity of players work in your favour.
Pay attention to the »beautiful » modified proposals which generate a higher cost, and to the »false » comparators which favor partner organizations.
think carefully to the online credit conditions adapted to your situation (duration and amount), use a good comparator and choose the lowest APR.
Read also: 24-hour credit without proof: how it works