Increase your credit chances
Are you afraid that your loan application will be rejected in the bank?
If you take a few simple steps, you can significantly increase your credit standing.
Before you receive the money you need, the bank will certainly take into account your financial situation and issue a decision on this basis. However, you have the chance to show that you are responsible borrowers, even in a short time. Your chances even for a high commitment will increase significantly.
Your credit history
Many banks avoid lending to customers who have no credit history. You must remember that the Credit Information Bureau not only records negative entries about debtors but also information about all persons who pay or have ever repaid their debt. Thanks to this, the bank can find out whether you haven’t had any problems repaying any of your liabilities so far. So you can turn it over.
If you do not have any credit history, consider buying something in installments, only to be able to prove your debt in a short time.
If you intend to apply for money, try to pay back your previous loans. Any other debt that charges your budget will primarily reduce your credit standing. The same applies to the credit card. Even if your credit card is not unloaded for the bank is another commitment. So it is worth giving up this service, especially if you are not sure that the bank will be willing to grant you a loan without any problem.
Lower credit costs
The smaller the monthly installments of your debt, the higher the creditworthiness you present. In this respect, of course, it is important to be able to ensure your stable income. However, banks do not require you to submit a work certificate based on an employment contract. Are you afraid of a negative decision of the bank because your income is related to a contract for specific work, an order or a pension or a pension? When you apply for a cash loan, you don’t have to worry that this is not enough. Banks are trying to minimize all formalities and adapt products to the requirements of service recipients. It will be important, however, how much the installment of your commitment will affect your budget. To increase your credit standing and, at the same time, lower your monthly costs, you can opt for a longer repayment period. Although you will generally pay more – when you repay the loan, your installments will be much lower. And this value will be taken into account when the bank calculates your creditworthiness.
In addition, it may be important what installments you choose. Banks offer repayment of loans in equal or decreasing installments. Each of these options has its advantages, however, if you want to increase your chance of receiving money, he will choose equal installments. Your fees will remain unchanged throughout the loan period. In the case of decreasing installments, the first of them are definitely higher and they are taken into account when the bank determines the client’s financial capabilities.