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10 tips to become an expert with credit cards

The indiscriminate use of your credit cards will result in delays in payment of your financial products. With this, you will get a bad credit history and you will not have availability of your credit when required.

These situations are truly uncomfortable and unnecessary, since everything will depend largely on your responsibility. You must be skilled and disciplined with a commitment acquired from the moment you request your credit.

So, ask yourself, is it worth losing my cards due to bad handling? Of course not. Most of the holders do not realize that this type of instrument is nothing more than a loan. Do you want to learn ?, read and become an expert of the use of credit cards with these tips.

1. Write down your payment dates

payment dates

The first thing to improve your credit card management efficiently is to keep track of cut-off dates. More specifically, the dates of the day of payment or settlement of your fees.

Schedule these dates physically or electronically will help you, since, not being your only priority, you could forget them. This will definitely create late fees and bad credit scores.

You can use a small notebook to write down, or set events on your cell phone as reminders or alarms. You have in favor that your cutoff date will always be the same, you just have to follow up on this factor.

2. Pay more than the minimum

2. Pay more than the minimum

This advice, despite being known by credit card holders, is only executed by some people. Paying more than the minimum is positive, covering your entire debt is even better, although we know that it is not always possible.

If you only make the minimum payment, your balance will be reduced very slowly and you will pay more interest. But if you don’t have the total amount, remember that there are several really useful methods.

What would these methods be? Discover here a simple way to obtain benefits by paying the minimum.

3. Pay your credit card debt one at a time

One way to pay off your credit card debt is to focus on a single credit card until it is settled.

But maybe you want to get out of this debt faster, you can do it with companies oriented to financial solutions like Best lending. What is its function? Simple, absorb your credit card debt and give you the ability to pay months without interest.

Best lending is a leader in Mexico and has great experience and security in its operations. It will give you the boost you need to defer credit card debts in comfortable terms. How long do we talk? from 3 to 18 months, adjusting to your financial profile.

4. Purchase under the minimum of your established credit

Surely this will relieve you, it is about keeping the level of your purchases below the credit of your TDC . In this way, you will be budgeting even before making your purchases, without exceeding your credit limit.

5. Avoid making cash, unless it is an emergency

5. Avoid making cash, unless it is an emergency

Transactions that involve the advancement of your credit card cash are expensive and not recommended. But if strictly required, for example, in medical cases or of any other nature and immediacy, do not think about it.

Cash advances generate a fee and interest accrues immediately. This means that even if you do not delay this payment, you would still be paying interest.

6. Use online banking

6. Use online banking

Among other banks, have online systems associated with credit cards . This simplifies the customer experience and provides greater speed and efficiency in almost any operation.

With online banking you will avoid the inconvenience of moving to a branch and alter your routine or important commitments. Today it is possible to manage your credit cards with more security, verify your balance, pay fees and perform other transactions.

7. Know all about interests

7. Know all about interests

Knowing each and every aspect of your credit cards is a very important factor. This will make a difference in the management of your debts, so you must understand the various interests that you could acquire.

Many people have credits, but not all fully understand what they imply. They don’t even know the interest rate to which their purchases are subject. This is risky and if it happened to you, avoid it from now on and always stay informed.

8. Can you with more than one credit card at a time?

8. Can you with more than one credit card at a time?

Every cardholder wants as many credits as possible, allowing him to access almost any product or service. But is this advisable? How many credit cards should you have?

And you should know your ability to pay on your credit cards , since the more you own, your debt will increase.

9. Take advantage of the benefits of its use

It is important that you take advantage of the benefits of using this financial resource, do you want to know what they are ?:

  • Request for larger loans: by controlling your credit card management , you will be able to maintain a good credit history. How does this help you? It will open doors for you to apply for larger loans.
  • Trips or discounts: depending on your type of TDC , you will get offers and airline tickets or points to redeem.
  • Emergency support: this instrument is accepted worldwide and will support you in complicated situations such as an accident.

10. Maintain a good credit history

10. Maintain a good credit history

It is essential to learn from the most basic to the complexity of your credit card , this includes the credit history Do you know what it means ?, in simple terms, it is a record of your behavior with your credits.

If you maintain a good credit history, you can enjoy a good reputation and access larger loans. Try to do it and pay attention to the payment of your fees so as not to delay you.

conclusion

How is a credit card handled? What are the available alternatives to not lose my TDC ? These questions seem to be more difficult than they really are but don’t worry. Become aware of how you use your TDC and start making the necessary changes.

Becoming a true expert with your credit cards requires discipline and focus. Also a commitment to transform your habits and channel them efficiently for your financial convenience.

Remember that it is always important to have an ally like Best lending who can guide you step by step. You will achieve the achievement of achievements and the solution of your problems, such as paying debts from your credit cards .

We have Best lending with plans designed for any client, who can defer his debt to 3, 6 or 9 months. You can even pay after a year (12 months) or a year and a half (18 months). We invite you to use our online calculator to know the approximate monthly payment of your debt.

Borrowing Business Money-Business Loans

 Do you need a business loan soon? For many entrepreneurs it is still quite difficult to borrow money. Sometimes it’s like looking for a pin in the haystack. You have to meet an enormous number of conditions at most banks if you want to be able to take out a business loan or credit. We have selected things for entrepreneurs and found that you can view your application faster through a smart system.

At banks and many lenders, you end up in a time-consuming procedure if you, as an entrepreneur, apply for a business loan. With Bank Loan, however, you have the guarantee that your application will be assessed at lightning speed. They use a system that they call the ‘credit scoring system’. All applications from entrepreneurs are in fact automatically analyzed with which an expert ultimately assesses them. This has the advantage for you that you may be accepted much faster and therefore can use your business credit faster.

Borrowing business money appears to be very difficult

Borrowing business money appears to be very difficult

More and more often we hear reports from frustrated entrepreneurs that they can’t borrow money anywhere. It is difficult for many freelancers and SMEs to convince banks and lenders that they can meet the obligations associated with borrowing money. It is traditional lenders and banks in particular who have difficulty in lending to businesses.

Difficult for the self-employed

Small self-employed people or new companies in particular can usually shake it. Still very strange, especially when you realize that the Dutch economy is dependent on freelancers and SMEs in everything. They are the engine of the economy. Did you know that sixty percent of entrepreneurs in the Netherlands are looking for corporate finance? And that a large percentage ultimately fails? Bank Loan does not think this is possible. With them, the chance that you will be accepted as an entrepreneur is much greater.

Lower interest with Bank Loan

Lower interest with Bank Loan

We discovered that the chance of low interest rates is greatest at Bank Loan. Compare their interest rates with other banks. You take out flexible loans with them with a maximum of € 250,000. You could use this amount as a bridging loan. Build up a product stock or purchase goods (such as machines, company cars, etc.) that you need to further expand your business. The minimum amount to be requested has been set at € 10,000.

Conditions that you must meet for business credit

Conditions that you must meet for business credit

The conditions for companies and entrepreneurs to borrow money are often stricter than for private individuals. For example, you must always hand over your annual figures for the past 2 years (if you do not have one, you cannot borrow), be registered as a company in the Netherlands and have had your company for at least two years. These conditions also apply to a business credit that you request from Bank Loan. You must also have a turnover per year that is not lower than € 200,000. Finally, you must have a Dutch business account.

 

Applications in three steps

However, you can arrange everything online with them and the number of details you must enter is limited. You have to go through three steps in total.
1. Register on the Bank Loan site.
2. Submitting the most recent tax return.
3. Linking a business payment account to this account. You will be informed within a few minutes whether your application can be accepted or not. This can take days at other banks / lenders.

Dutch office

Dutch office

Bank Loan has a Dutch branch which is located in Amsterdam. This makes contacting or asking questions a lot easier. You can simply ask the questions in your own language that you would like answered.

Which credits are possible

There are 6 different credit options that can help the entrepreneur who is looking for a cheap credit:

Corporate financing

Where it is difficult to have your company financed by regular banks, this is clearly arranged at Bank Loan. You do not have to prepare a forecast or business plan, it only looks at your past performance. If these performances are good and you meet the other conditions, there is no longer any obstacle to applying for a business loan with a low interest rate.

Working capital

Suppliers often require an advance payment when they are going to deliver goods. Certainly in a period when many companies go bankrupt, these suppliers want to limit their risk as much as possible. However, if the goods have to be paid for immediately, it may be that you on the other (selling) side only receive your money months later. To solve this problem you can opt for working capital financing. No guarantee or personal security is requested for this form of financing.

Current account credit

The advantage of a current account credit is that interest only has to be paid when it is used. See it more as a buffer for unexpected business expenses. For example, VAT can be a good argument for using this credit. After all, when you write out an invoice, you pay the VAT directly. If you have a creditor who pays much later than agreed, you have already paid the VAT, but on the other hand have not received it back.

Stack financing

Different loans can be stacked well at Bank Loan. It means that the financing can come from different angles and up to 1 credit is issued. This includes online credit, factoring, crowdfunding and leasing. If you wish, you can take out an approved credit within 1 and 3 months at no cost if there is no withdrawal.

Pre-financing

Pre-financing has a somewhat more precise objective than the aforementioned overdraft facility. This form of credit is suitable for paying for goods and inventory, without this being charged to one’s own working capital.

Stock financing

For the purchase of stock that you cannot pay at the moment, there is the stock financing. This allows you to achieve your objectives by purchasing stocks. Note that this is a short-term credit, so that is not a long-term solution.

Perhaps subsidies

It may just be that you and your company are entitled to one or another subsidy. Before you start borrowing business money, this is of course a reason to figure this out well. A reason for subsidy can be when you do business internationally. Another subsidy option arises when you are concerned with the environment and then mainly with the reduction of emissions of harmful substances. Investing in reducing energy consumption can also be rewarded with a subsidy.

What happens to your debt after death

What about borrowing and dying money? Little is written about this topic. So it’s time to change that. On this page you will find out what about a loan if you or your partner dies. The question what happens to a loan when you or your partner dies is a question few people ask. We assume that you do not want to burden your relatives with a debt and therefore want to know more about this subject. You will also find more information about this subject here. For example, there is the option to insure the debt separately so that it is canceled in the event of an emergency. But there are also several providers who have already included this as standard when providing a loan. A number of conditions must then be met, you can read more about this in this article.

 

Remission or debt acceptance

Remission or debt acceptance

The bank or lender will always recover the outstanding amount of a loan from the surviving relatives. The surviving relatives are obliged to take on the loan if they accept the inheritance. Do they not accept an inheritance? Then they are also not obliged to take over the outstanding loan. The bank or lender will then cancel the debt. For a complete overview of the outstanding debts you can request an extract from the BKR, which shows all the loans that the deceased took out in the Netherlands. On this overview you will find not only any loans, but also debts on credit card, mail order company, customer card (s) and bank overdraft.

 

Reject legacy

If you are afraid that the number of debts exceeds the assets, you can consider rejecting the inheritance. You then do not have to pay any of the outstanding debts, but you can also no longer claim any money that remains after the installment. If the deceased appears to be wealthy, then you cannot undo this choice. So think carefully about this before you make this decision. If you still want to reject the legacy, you have to go to court. You have to do this within 3 months after the death and the costs are around 120 euros. Note: This cannot be undone later.

Certificate of inheritance

Certificate of inheritance

You will probably need a certificate of inheritance in order to request an overview from the BKR. You can get this at a notary. There are costs associated with this that can still run nicely, so compare a number of notaries by price. This is all you have to pay attention to, because the same paper is handed over to all notaries. Since the costs for a certificate of inheritance can go up to 1000 euros, it seems a good idea not to take the first one randomly.

Accept less risk with beneficiary

If you are not sure about the number of debts that can be in the legacy, then a good second solution is the so-called beneficiary accepting the legacy. All assets of the deceased are first sold, then all outstanding debts are paid with this capital. The money that remains then will be paid to the beneficiaries. The advantage is that if the assets do not yield enough to pay off all debts, this will not be passed on to the heirs. These remaining debts will then be canceled.

What about study debt

What about study debt

In the Netherlands, everything that has to do with finance and studying is arranged by DUO (Education Implementation Service). They adopt a lenient approach in the event of death where there is still a debt outstanding. All outstanding debts are canceled. If the deceased lived in the Netherlands, you do not have to take any action, the municipality handles this and reports this to DUO. 

Whether or not a will

Of course important to determine whether or not you are heir. If a will is made, this is immediately clear and the notary will indicate who may call himself an heir. If there is no will, you can easily determine this yourself, as there is a sequence in 5 steps.
1. Spouse, registered partnership, children.
2. Parents, brothers and sisters.
3. Grandparents
4. Great-grandparents
5. Dutch state
As you can see in the overview above, nephews, nieces, aunts and uncles are not included in this list. So when there is no will, they cannot claim anything. Here you can read how you can ask if there is a will. This must always be done by a notary or a candidate civil-law notary, who then requests this in the Central Testament Register, where all testaments made in the Netherlands are registered. There are costs involved.

Prevent better than cure

Prevent better than cure

Do you want to prevent your relatives from being burdened with a debt? Then you can take out insurance on most loans. With this you insure a loan in the event of death. How it works? This special life insurance policy will pay out a sum of money in the event of death with which the loan can be repaid. So no debt remains open. If you have taken out a loan of 50,000 euros a few years ago and if you suddenly die, 25,000 euros of this is still outstanding, the remainder (ie 25,000 euros) will be repaid in full with this insurance.

What does such insurance cost with a loan?

What does such insurance cost with a loan?

What are the costs of a term life insurance that you can take out with a loan? This of course differs per bank and lender. You pay a monthly premium for this, but you may also pay a one-off brokerage fee if you arrange for this to be arranged by the bank or lender. Remember that it is not mandatory to take out such insurance! And perhaps you have already taken out a life insurance policy, for example together with your mortgage. In that case, ask the insurer whether you can also have the new loan insured with them on the same policy.

Loan is automatically insured

Loan is automatically insured

In certain cases, loans from banks and lenders are insured as standard in the event of death. In that case, you pay slightly more interest because these costs are added to the loan. The loan contract always clearly states how a loan is structured and what you are going to pay for.

Take out individual life insurance?

You cannot insure yourself against death at certain banks / lenders. In that case, we recommend that you simply take out a separate term life insurance policy. With many insurance companies you can take out such insurance with a loan. Often, with a separate insurance policy you are also a bit cheaper. With a separate life insurance policy the surviving relatives receive an amount in the event of death. This amount has been agreed in advance. You cannot link the amount of money to a loan, but you can of course pay off the remaining debt with the payment of the insurance that you receive in the event of your death.

Steps to be taken in the event of the death of a loved one

Finally, an annoying subject, but for the sake of clarity in this article, the steps to be taken in the event of the death of someone dear to you. This way, this is done in a way that takes a lot of thought and puzzle off your hands. Below the checklist.
✓ Request the death certificate
✓ Request the deed of inheritance
✓ Request data from BKR
✓ Consult with notary about the inheritance
✓ Check whether there is a life insurance policy
✓ Arrange funeral and possible financing

Cheapest revolving credit

Where can you find the cheapest revolving credit is a common question. Of all money loans, revolving credit is the most popular form of borrowing. This is because you have maximum flexibility because you can withdraw the already repaid money as long as your revolving credit is active.

 

Cheapest revolving credit

money

With a revolving credit you agree with the lender on the amount you want to have available and in what period you want to pay it back. Furthermore, it is of course agreed how much interest you will pay. But what is the cheapest revolving credit?

 

Expensive insurance

First of all you have to be careful that you are not obliged to take out expensive insurance, this often seems to be the cheapest revolving credit, but if you add the compulsory insurance to it, it becomes a lot more expensive.

 

Interest from the revolving credit

Interest from the revolving credit

Nowadays, bodies that lend money are required to show how much interest you will pay in total, plus any closing costs to be paid. This story is correct if you do not withdraw the repaid money. This makes the revolving credit somewhat unclear. But it must at least be stated what interest you are going to pay.

 

Variable interest

interest rate

The interest rate for a revolving credit is variable and rises and falls with the interest rate. Although it is annoying and boring, it is important to read the fine print especially well. All features for a revolving credit in a row.

 

The duration is variable.

Cheapest revolving credit has a relatively low interest rate.

The interest is variable, so also your repayment.

Interim repayment without penalty is possible.

Amounts already repaid can be withdrawn

Revolving credit popular

 

The revolving credit is also popular because the borrowed money is not deposited into your account as with personal credit, but the borrowed money is made available to you. In other words, you will only pay interest when you start using the revolving credit. If you do not need money at that time, it also costs nothing.

Borrow money quickly

You probably know it. You will always be confronted with an unexpected and usually large expense when you are short of cash. Usually it is the washing machine that often manages to stop it at the financially most unfavorable moment. For a few days you can still do without, but longer is actually no longer possible. Your savings balance is zero and you have not yet received your salary, help !! Fortunately, there is the possibility to borrow money quickly for a new washing machine if you meet the conditions. You can then borrow an amount that is sufficient to purchase a new washing machine.

Borrow money quickly for new washing machine

Borrow money

Of course a washing machine costs the necessary money, but is it worthwhile to request a loan from your bank? No, because there is a much easier and faster way to arrange some (extra) financial scope for a short time. At a bank they often work by appointment, you are buried under a barrage of questions and you are also tested by the Credit Registration Office  in Tiel. A mini-loan offers a solution, because you can borrow money without credit check and the great thing is that you don’t even have to leave the house.

How does it work?

money

Arranging, because that’s just everything, a mini loan works easily. A mini loan offers you the possibility to borrow relatively small amounts for a short period of time. You should think of amounts from € 300 to a maximum of € 1000. In most cases you have to repay the mini loan within 30 to 45 days. A great solution for our example of the washing machine, because you have already received your salary during this period. You can easily choose a mini-loan provider via the internet. You enter your details and usually the amount you need is in your account within 24 hours! And all this without in-depth questions and without testing at the credit check. How easy do you want it to be?

Mini loan great solution

Mini loan great solution

A mini loan is a nice and excellent solution if you are short of cash at a time when this is just not convenient. You quickly have the financial room you need, without questions. It will probably not surprise you that a mini loan, also called a flash loan, will cost you money in the end. You pay an amount in interest, but in practice the costs are not too bad, because the duration of a mini loan is only short. Maybe the solution for you too!

What is a Home Loan?

Obtaining housing loans is one of the most difficult tasks in modern society. Both the increasing unemployment problem, low salaries, and the fact that life became much more expensive have made it a dream for people to become homeowners. However, there are some solutions for this situation. For example, the housing loan option offered by banks as a result of people realizing this situation has paved the way for many low-income homeowners.

With the emergence of these loans and the fact that they became legal in 2007 under the name of mortgage – mortgage loan , banks became a glimmer of hope for owning housing on behalf of people with low income. Especially with the legalization of this loan, many different options in housing loans were offered to bank customers. This situation has increased the citizen to a more advantageous position than before. Loan applications made to banks for the purpose of owning housing have naturally increased parallel to this.

 

Is There a Precautionary Procedure Followed by Banks?

bank loan

Banks conduct a highly detailed review of their customers applying for mortgage – mortgage loans . This is because housing credit generally means very high sums, and banks must establish a full trust relationship with their customers in order to offer these sums. In addition, if the loan application is approved, it is checked whether the house that is planned to be purchased is eligible for the loan.

If the house is not eligible for a loan, the bank will not make any mortgage payment. This is due to the fact that banks keep the house under mortgage until the end of the payment of the loan. It will not be wrong to say that the person who owns the loan does not have a 100 percent right on the house until he / she pays his debt. If the debt is not paid, the house purchased by credit will be confiscated by the bank. After the loan is paid in full, the person who applies for the loan will be the owner of the house and the mortgage on the house will be completely removed.

 

Is there a condition of guarantor for housing loans?

housing loans

As a rule, there is no requirement to show any guarantor when obtaining a housing loan. After the loan is taken home mortgage will be taken. However, it should be remembered that although there is no guarantor requirement in the housing loan, the credit rating of the borrower will be very attractive and it will be difficult to obtain credit if the credit rating is mediocre.

 

Which types of houses are eligible for housing loans?

Which types of houses are eligible for housing loans?

First, check whether the house has been completed. If the house to be purchased is not completed yet, it is necessary to have the easement deed. If the house is completed and the resettlement is taken, the bank will request the ownership of the title deed. If the house does not have a condominium, an additional fee must be paid for the ownership. However, in order to acquire this property, the resettlement must be present.

The age of the house is one of the most prominent issues about eligibility for housing loan. For banks, the age of the house may not make any sense at all times. In fact, the most important thing for the bank is to guarantee its receivables and to be able to cash the house. On the other hand, if there is no housing project with which the bank is contracted, at least eighty percent of the house to be purchased is completed in terms of accepting mortgage – housing loan application.

 

What is required to apply for housing loan?

In order to apply for a housing loan, first of all it is necessary to reach the age of 18. Anyone who has completed the age of 18 and can document their income can apply for a housing loan. Of course, it will be necessary to document income status and to present official identification documents.

Ten tips for borrowing money

 You don’t just borrow money, but do you have to borrow money for everything you want? Of course you have to take out a loan before buying a house or buying a car, because most people do not have this amount in their bank account. Nowadays a lot is borrowed for luxury items that are not really essential, is this wise? With the ten tips for borrowing money you can see what you should pay attention to.

Purchase by installment

Purchase by installment

You can also buy a new installment television, but you can also buy a holiday or a new couch on ‘the bar’. Many people do not realize that this way of borrowing is very expensive. Where you usually pay around 7% interest at the bank or other lending institution, you will soon pay around 25% interest on goods you buy on installment, it is easy, but a very expensive way of borrowing, see the ten tips for borrowing money for explanation.

Pay with credit card

Pay with credit card

Every credit card also has a high interest rate, which will only start to accrue interest if you opt for the spread payment option, which is also the only way that credit card companies can earn money. If at the end of the month you simply pay everything you have spent in that month, you will not pay any interest at all. With the ten tips for borrowing money you can see how you can prevent this.

Prepaid cards

Prepaid cards

Nowadays you also see many so-called credit cards where you can only use the amount that you set up there yourself. These are not actually credit cards, but prepaid or debit cards. So safe because you can use what you have put on the map yourself. The disadvantage of such a prepaid card is that when renting a car or booking a hotel room an amount is often reserved until the end of the agreement. With credit cards you do not notice this, but with debit cards you have lost this reserved amount and you have to keep a close eye on the fact that the amount is also refunded.

Ten tips for borrowing money

Ten tips for borrowing money

With the ten tips for borrowing money you can see what you should pay attention to when taking out a loan. Compare the providers and not only choose the cheapest, but also pay attention to the best conditions.

1. Compare the interest to be paid, even a half percent interest can already be a nice amount.

2. Buying with installments, standing in red at the bank, and paying in installments with a credit card means that you are always the most expensive, this can sometimes save tens of percent.

3. Be careful with an offer with a low interest rate, it may be that this low interest rate is for a short period only and that you will then pay a much higher interest rate.

4. Check carefully whether a provider has a license from the AFM, you can check this on the website of the AFM.

5. Compare different providers, note that not all providers are reliable.

6. Is the amount higher than what you have requested? Then you have to be on your guard because the institution has also talked to you about insurance.

7. Pay attention to the interest rate, is it fixed for the entire period, or variable, with a variable interest rate you may have to pay more during the term.

8. Also look at the fines that must be paid if you pay too late, how high are these fines and when exactly are they charged.

9. Can you pay off earlier than agreed, or do you have to pay a fine, certainly something to keep an eye on.

10. Previously mentioned. Pay attention to which insurance policies you need to take out to get the loan, this increases the amount to be repaid considerably. It is also called tying and it seems that you MUST take certain insurance policies to get the loan.