Consumer Credit, Understand How To Get It

Nowadays it is common to see people who sometimes need to get credits to realize their dreams, such as buying a car. However, it is also remarkable that there is a barrier in the thinking of this public, which prevents them from seeking information about the actual requirements and operation for obtaining credit. These thoughts may come about, perhaps, because these people have spent their lives hearing that getting credit is disadvantageous and that they may create risks, debt, and financial problems later. Criticism at

Thinking about this subject, we separated some points to be analyzed in order to demystify the obtaining of credit, in order to help the public that has interest and need in this modality. Keep up!


Types of Consumer Credit

Consumer Credit

When it comes to getting credit, the first point to consider is the type of credit to choose. In other words, the type of credit is defined according to the current needs and conditions of the person who wants to obtain it. Currently the best known are:


Personal credit

Personal credit

Credit modality for consumer goods, where there is no need to specify the purpose of use. Usually this type of credit is offered by banks to their account holders, serving self-employed, self-employed, salaried, taxi drivers, retirees and private. The credit limit is set according to the payment terms of each person.


Payroll loans

money loan

This modality is intended for people who have fixed jobs, retirees, pensioners and civil servants and private companies. In this way, the loan installments are deducted from the payroll of the person or company. The advantage of this type of credit is the reduced rates, and the possibility of getting it even if the name is compromised by other debts. In any case, the installments of this type of credit should not exceed 30% of total income.


Credit for Financing

credit finance

These loans are used for a specific purpose, ie the person who wants to opt for a loan is generally buying a physical asset, for example a property or a car.

This type of credit may be performed by both individuals and legal entities. In addition you need to note the types of financing that are:

Direct Consumer Credit (CDC): The buyer makes a loan at the bank and the property will be in his possession, but cannot be negotiated until all installments are paid.

Leasing: In this modality, who acquires the good is the leasing company (an institution that works with such services) that leases it to the consumer. Thus, the customer pays for the rent of the property, which is in the name of the company until the end of the benefits.

Consortium: In this mode, the client is part of a group formed by other consumers, organized by the responsible company. The customer in turn pays the installments monthly but only receives the good when it is drawn. (Once a month a person is drawn). Unlike the CDC and Leasing modalities, the consortium installments change over the months according to the appreciation of the acquired good.


How to get credit?

credit loan

Now that we know the main types of credit, it is time to understand how institutions evaluate the profile of clients in order to approve or not credit for them. The main points evaluated are:

Income: Income is one of the main points to be evaluated as this is one of the factors to consider whether or not the customer can pay for the credit purchased. In most cases, institutions insure installments of up to 30% of the client’s total income so that there is no increased risk of default.

Age: Most institutions require a minimum age of 18 to release credit. For the maximum age there is no specific rule. Banks generally accept up to 79 years for payroll loans within 60 months, and up to 81 years for payroll loans within 24 months.

Employability: The employability requirement will depend on the type of credit you wish to acquire. For personal credit, proof of income is required only. For payroll loans there will also be this need if the customer does not fit the other cases.

Relationship with the Bank: Virtually all banks require the customer to be a banker at the institution for credit release. In addition, some other factors are evaluated such as: time of account, movement, possible debts with the bank, existence of investment, among others.

Outstanding Customer Name : Another factor that may or may not determine the release of credit to the customer is the possible backlog that the customer may have on your behalf. Thus, as previously informed, institutions may evaluate the client’s CPF and, if pending, may not release credit to the client.

History: As much as the customer fits in with all of the requested requirements, their consumer history can also be a determining factor in releasing the desired credit. Thus, some companies carry out a brief survey to find out if the customer has already had large debts or if he has already passed bad checks, for example.

Based on this information, you can understand how it works and what are the main requirements for getting credits. It is noteworthy that no matter how much you question, credits are still great ways to achieve the dream of a car, home or even get a debt.

In any case, it must be borne in mind that the search for credit must be done consciously and exclusively when the client has real conditions to pay the monthly installments. In this way it is possible to derive all the possible benefit that credit may provide.

Finally, it is recommended to carefully research the rates, terms and conditions, as well as the reputation of each institution in order to make the best choice.

New born loan: the public fund to support families

The new-born loan was a form of subsidized financing for families who had a child in the year prior to the request. This kind of small loans gets benefits thanks to the guarantees provided by the State, which assumes the role of reassuring the bank about the repayment of the loan, ensuring to intervene in case of insolvency of the debtor. In this way, costs are reduced, ie the interest rate to be paid. However, a public guarantee does not mean that the capital received should not be repaid: it is not a loan. Nevertheless, in this way the State supports families with children.

Let’s see how the new born fund works


The dedicated fund was activated at the Department for family policies of CONSAP (Public Insurance Services Concessionary), a public body that is used for these activities of access and support of credit. The Fund functioned thanks to close agreements with the banks participating in the initiative: this means that to apply for a new-born loan, one needs to contact a bank that has accepted the conditions of the Fund. The list can be found on the ABI website, the Italian Banking Association.

The banks adhering to the loan for newborns agree to provide some facilities for the APR, the Global Effective Annual Rate , which also includes all ancillary expenses. In particular, the APR will be fixed and cannot exceed 50% of the TEGM, Effective Global Average Rate on personal loans. What does it mean? The TEGM is a rate calculated every 3 months by the Bank of Italy, which takes into account the average of the interest applied by the banks on a particular sector, in this case that of personal loans. The APR of the new-born loan cannot be more than half the value of the TEGM on personal loans calculated by the Bank of Italy at the time the loan is requested.

The maximum amount of obtainable is 5,000 euros, but the capital can be used for any expense

5,000 euros

The repayment period for the new-born loan may extend for a maximum of 5 years. In this way, the New Born Fund helps families pay the expenses for the newcomer and facilitates their first years of life.

Open A Current Account for Everyone / Commitment of Banks

 In 1995, the major banking associations (Deutsche Kreditwirtschaft) drew up the following recommendation on the “checking account for everyone” :

All credit institutions holding checking accounts for all sections of the population will, upon request, have a checking account for each citizen in their respective business district. This gives the customer the opportunity to receive credits, to cash in and out and to participate in the transfer traffic. Overdrafts the credit institution does not need to admit. Each institute is free to offer additional banking services.

The willingness to keep accounts is basically given, regardless of the nature and amount of income, eg. Eg unemployment benefit, social assistance. Entries with the Schufa, which point to bad economic conditions of the customer, are not alone reason to refuse the guidance of a Girokontos.


The bank is not obliged to keep a current account for the applicant if this is unreasonable. In this case, the bank may also terminate an existing account.

New : Here you will find a comparison of all-rounder accounts (also called basic account genannat) German banks.

Unacceptable is the opening or continuation of an account, especially if

  • the customer misuses the services of the bank, in particular for illegal transactions, eg. B. fraud, money laundering o. Ä.
  • the customer makes false statements that are material to the contractual relationship
  • the customer grossly harasses or endangers employees or customers
  • the intended use of the account to participate in cashless payments is not given because z. For example, if the account is blocked by acts of executing creditors or is held for a year without turnover
  • it is not ensured that the Institute receives the customary fees agreed for the account management and use
  • the customer also does not comply with the agreements.


Loan of hope – solidarity loan

The loan of hope is a credit access service provided by the Italian Episcopal Conference, an organization that brings together the bishops of the Catholic Church. The CEI has been launching for some years some facilities for access to credit for the most disadvantaged citizens and families, in order to favor social and economic inclusion. Among the instruments made available by the CEI there is also a guarantee fund, launched in 2009, powered by institutional and private subjects, which allows people in difficulty who turn to this institution to receive favorable conditions to obtain a loan.

The loan of the hope of Caritas is aimed at encouraging the reintegration of those who have lost their jobs or the launch of a self-employed activity : it is therefore a loan aimed at creating jobs. In fact, funding can be requested for training and professional retraining activities. In this way, the person in difficulty can acquire new skills on favorable terms and increase their chances of finding a new job or creating one on their own. In fact, the funding can be used to finance the attendance of training courses and similar tools.

The loan can be requested by natural persons


(temporary workers, unemployed young people, unemployed), disadvantaged families and micro-enterprises, perhaps in conditions of start-up or restructuring. To be able to obtain the loan you must go to the nearest office of the diocesan Caritas. The documents for the loan of hope vary depending on who submits the request. In the case of natural persons, it is necessary to present:

  • an ISEE certification;
  • copy of the documentation issued by ASL, INPS or other public body on the condition of hardship, illness or disability;
  • in the event of unemployment, the letter of dismissal or registration with the unemployment lists.

In the case of micro-enterprises, on the other hand, you must present yourself


  • VAT number and Chamber of Commerce registration;
  • balance sheet for the last 3 years;
  • business plan to relaunch the professional activity or the start-up;
  • the DURC.

At this point, the banks participating in the loan of hope will be contacted by the staff to whom you have turned and should provide subsidized loans, thanks to the guarantees provided by the CEI fund.

Advantages of Payday Loans – Learn About the Advantages of Quick Loans

Waterpumpers, like any financial product, have both advantages and disadvantages. The disadvantages of such offers are unquestionable and it is worth knowing them, but I will devote a separate article to them. In this article, I will focus on their strengths. You will learn here what are the advantages of payday loans. You will learn the most important advantages of fast loans, which are guided by customers, looking for a loan. The payday’s advantages are particularly exposed by the parabanks, so that the potential customer only pay attention to them. Despite the wide variety of offers available on the non-banking market, they are similar to each other. As a result, the advantages of payday loans for each offer are similar.

Once you know the advantages of payday loans, also check their disadvantages.



Waterpots are granted via the Internet, therefore the security of personal data transferred is a key issue. That is why every non-bank institution uses technologically advanced websites and technical solutions that guarantee full data security.

Clearly presented terms and costs

These are also important advantages of payday loans, which are worth mentioning. In the case of the vast majority of offers, you immediately know what costs you will incur. Thanks to information forms and contract projects, you are aware of the conditions under which you enter into a contract. The costs are clearly defined and you get to know them right away because you have access to a cost calculator on every page of a non-bank institution. Thanks to him and a simple calculation, you know how the costs of a weekend will change. By specifying the amount you are interested in and the repayment time, you will learn how much your APY will be, commission, interest and you’ll know the total cost. There is a lot of talk about the transparency of non-banking offers, and yet you can still find offers where it is not the best. You can still find lenders’ websites where the costs are not clearly and clearly presented. They are simply hidden, so to find them, you have to spend some time.

The ability to borrow money without commissions, interest and other costs absolutely free

The ability to borrow money without commissions, interest and other costs absolutely free

Further advantages of payday loans, which are worth emphasizing, are undoubtedly the possibility of getting them for free. There are more and more promotional offers, so-called first loan for free. It is a promotion addressed only to new Clients who submit an application to a given institution for the first time. Thanks to being a new client in a given institution, you borrow for free. After the time agreed in the contract, you return exactly as much as you borrowed and no more zlotys.

Find out what to avoid when taking the first hour for free:

  • The first loan for free is a time trap?

Minimal formalities and documents

The advantages of fast loans are also manifested in the minimum formalities. Such offers do not require the provision of earnings certificates or other documents. To submit the application, you need an ID card, your own mobile phone and a bank account. The whole process is downloaded online without leaving your home. You do not even have to send scans of any documents.

Quick access to money

There are also other advantages of payday loans, which include the possibility of receiving financial support almost immediately. Often, we immediately need a cash injection in a small amount. If it happens that you need cash immediately, you can get it in as little as 15 minutes. At the latest, the money can reach your bank account in 24 hours. A lot here depends on the bank in which you have your personal account. Each loan company has several to a dozen or so bills in various banks, from which it executes loan payments. How fast your money will be credited to your account depends on whether it is in the same bank. The second factor determining the speed of receiving cash is the hours of interbank sessions. The speed with which you can get money is probably the most important advantage of payday loans, or at least that which customers most often drive, reaching for a few minutes.

Accessibility for people with bad credit history at banks

When listing the benefits of payday loans, mention should be made of the availability of Clients placed in Database or other debtors’ registers. Many people have a negative credit history in banks, which means that the road to credit is closed to them. In the event of the need to borrow money, the only solution for them is payday loans or multi -bank non-bank loans. However, I must point out that not all of these people can take a loan in any parabank. A lot here depends on the register in which the debtor appears. In the case of parabanks, it can be different with checking individual ones. There are companies that check all, but there are also those that check one or two. There are also companies that do not check applicants in Database. I will devote a separate article to the parabank which the debtors’ registers are checking. However, if you check my comparison of payday loans, you will find out which one is not checked in Database. If you want to find out which debtors’ databases are checked in case of a specific minute, you should read my review of this offer. There you will find information about all registers, which are checked for this offer.
Regarding checking or not the debtors’ registers, I must also mention that parabanks in some cases declare a liberal approach to information posted in them. However, it is difficult to predict how highly this approach is liberal. None of them discloses information about the amount or amount of debt that disqualifies the applicant. Either way, regardless of their level, everyone can try to apply.


In conclusion, I must point out that the advantages of payday loans are not very numerous, and their drawbacks are much more numerous. Due to their quantity and weight, I will devote a separate article to shortcomings. There are several dozen offers, but only in a few cases the advantages offset the disadvantages. Unfortunately, the overwhelming majority of disadvantages are much more than advantages. Apart from these issues, a person who is on maternity allowance with a bad credit history can apply for a break. Thus, almost everyone can easily get quick financial support.

I hope that you can capture all the advantages of payday loans. However, no one is infallible and something could have escaped me. Therefore, if you think I missed one, write about it in the comment under this article. I will try to answer and complete the article as soon as possible.

Change Current Account – Recommendation: Bank with Change Service


p> The question of whether it makes sense, even after many years of business relationship with a bank to change the checking account, also answers the Stiftung Warentest. The consumer advocates came to their current account audit 2016, the conclusion that savings up to 200 € per year are possible . This should be reason enough for every bank customer to take a closer look at the current offers. Even the average saving of 100 euros a year is an incentive.


Many bank customers are aware that they are simply paying too much for the account . On the other hand, they were reluctant to change their bank account due to the bureaucracy associated with a change. A lot has happened here. Since the summer of 2016, the legislator has obliged the banks to transfer all standing orders and direct debits to the new institute free of charge when the account is closed.

According to the Stiftung Warentest, an account change pays off as low as 60 euros annual account management fee. The test also showed that while there are still free checking accounts, these have shrunk in number.

DKB with account exchange service

DKB with account exchange service




Why change the account?



 A comparison between the free checking account of a direct bank and a paid account of a branch bank makes it clear why the account maintenance fee is “money thrown out the window”.


The direct bank customer handles all banking transactions online. For bar orders has either a card that allows him to withdraw cash for free at an ATM of a particular banking group. Alternatively, his bank offers him a credit card that allows him to make free cash withdrawals worldwide.

The branch bank customer handles all banking transactions themselves. Either this happens online from home on the computer or at the service vending machines in the branches. Anyone who still goes to the counter to have a standing order set up, is kindly but definitely directed to the machine in front of the ticket hall. The branch institutes have done nothing but to return the services for which they charge an account fee to the customer. Customers pay for themselves to serve themselves. For the banks, this is almost “money for nothing”, as Dire Straits once sang. For paper transfers, customers are properly asked to pay.

What needs to be considered when switching accounts?

What needs to be considered when switching accounts?



Of course, changing the bank only makes sense if it offers tangible benefits to the account holder. These advantages are, after all, it is about money, even in cash.

Account management

The account management must be done today free of charge. Some institutions will grant this from a certain credit entry. Basically, a free account management but without ifs and buts is preferable.

While the branch banks sometimes even charge a fee for the debit card, this is generally the case with credit cards. The situation is different with the direct banks. Debit card, or as it is called recently, Maestro card, and credit card are free components of the account package. As a rule, the fees are also valid for the partner cards.

Cash withdrawals

The biggest differences are in the cost of cash card credit cards. This is then charged at some institutions, even if a Maestro card is issued. This raises the question of how well the ATM network is developed. A Maestro card of the Cashgroup (Deutsche Bank, Comdirect, Commerzbank etc.) uses little in the Hintertaunus. The fees for a credit card but can be omitted in a foreign assignment. Here again, however, a distinction must be made between the banks, which allow an unlimited number of foreign withdrawals and the institutions that set a certain number per year.

Direct providers who are not members of a banking association usually do not issue a Maestro card. Here, the bar orders at ATMs are limited to the use of credit cards. This is done free of charge.


Another important factor is the interest rates on a new checking account. Thinking about credit interest is idle. Most banks have discontinued this payment many years ago. If there is another bank that pays the credit interest on the checking account, this, even before the beginning of the low-interest phase, has a rather symbolic character.

More important are the interest, which calculate the money houses for account overdrafts. The range of disbursement rates ranges from around seven percent to over twelve percent. Whoever covers his account more often, should therefore take care that he chooses a bank, which does not overcompensate for the saved fees at the old bank by the Dispozins. That would be a bad business.

The new customer premium

The new customer premium, which some direct banks offer, should only be of secondary importance when deciding on a new bank account. First of all, it is necessary to reduce banking costs in the long term. However, if you decide on an institution that pays such a premium, you can look forward to a credit between 25 and 120 euros, depending on the provider.

Online loan without payroll: less money, but faster

An online loan without payroll combines the simplicity of internet funding with the flexibility of a request for lesser guarantees. A traditional loan, required by physically going to a bank branch, requires the subscription of a series of bureaucratic procedures and the presentation of solid guarantees: usually, the most requested form of guarantee is the last paycheck, which certifies how the applicant is an employee with a stable income.

This guarantees the bank about its ability to repay the debt

This guarantees the bank about its ability to repay the debt
But not everyone is able to present a pay slip, perhaps because they are self-employed (in this case you will need to provide the latest tax return) or, more and more often, because you have a precarious job or even you are unemployed. In these cases, access to credit is more difficult. This is why many lenders have also provided services for financing these people. Everything revolves around the request for more flexible guarantees: for example, instead of a pay slip, the signature of a third guarantor may be required. But if not even a guarantor is available? The solutions available at this point can be the pledge of a valuable item or the mortgage on a property owned.

In the face of these reduced guarantees, requesting an online loan also allows you to avoid long waits at bank counters and some bureaucratic steps. The problem of online financing without adequate guarantees is that large sums cannot be requested . One of the loans in this category, the one aimed at customers of the popular PostePay payment service, for example, offers only three solutions for the amount to be borrowed: 750 euros, 1,000 euros and 1,500 euros.

This limitation is due to two factors that characterize this type of loan

This limitation is due to two factors that characterize this type of loan

firstly, all loans without payroll usually offer only small amounts , however lower than those obtainable with a traditional personal loan. This happens because the banks do not want to expose themselves to more risky applicants without a stable income. Moreover, the online loan is certainly more flexible, but even in this case the credit institutions cannot provide too high figures, given that they have less control over the people who request them.

For this reason, the online loan without payroll is a suitable solution for those who are looking for small numbers quickly to remedy moments of low liquidity and economic difficulty.