These are usually quick loans for small amounts of money that are meant for a short timeframe (normally for a few months). They often come with high interest rates. Loan repayments will be taken from the borrower’s monthly salary. You can use this option for emergencies and urgent cash needs.
Missed payments aren’t a rare thing. As you know, they bring their consequences. But, what happens when you don’t make your payments on time for a 0% purchase credit card? Possible penalties The interest-free period is limited, as stated in your contract. If you don’t’ pay off the full amount […]
Check the credit limits These credit cards come with specific spending limits. If it doesn’t cover your shopping requirements, you won’t find the card useful. The limits might be a few thousand or a few hundred, so it is better to check the contract to make sure that the card […]
Since these types of cards sound like an excellent financing tool, are there any drawbacks? Before you get your card, you need to make sure that you are familiar with the terms and conditions. Knowing the advantages, there are a few cases in which a zero-interest credit card is a […]
Credit cards are one of the available credit line loans. You can easily use them for purchasing goods and services. If you have encountered 0% purchase credit cards, you might think that this is too good to be true. How do 0% purchase credit cards work? This type of credit […]
When you pay down the mortgage, you get more equity over your home. This leaves you enough space to get HELOC. In some cases, it is better to avoid this crediting type and go for alternatives. These are the situations in which it is better to avoid it. When should […]
A HELOC is similar to a credit card. You have the fund available and can use them at any time. The difference is that in case of missed payments, your home is the guarantee for the loan. The interest traits tend to be flexible, as they depend on the economy. […]
While both terms might be used in the same context, there is a clear difference between them. A home equity loan is a loan in addition to the mortgage. This type of loan uses your home as collateral. The lender approves a lump sum, which you need to return based […]
Much like payday loans, a micro loan or “mini loan” is for a small sum of money for a short period of time. Also known as “emergency loans”, they will also come with relatively higher interest rates.
In this case your pension acts as an asset much like a house or car. The loan is taken out according to the value of your pension. The downside is that this often involves a long-term payment plan against many more of your pension payments to come. Some companies require that the borrower must buy a life insurance policy that names the company as the beneficiary.