Comparison of better bank credit cards Information on the credit card provider

Although it is very small, Better bank is one of the well-known German money houses. Credit cards are a central part of Better bank’s offer.

The subsidiary of Gutches Bank focuses primarily on younger, private customers. It also wants to be a technical pioneer in the banking and especially credit card business with private customers.

The Better bank: Some facts about the credit card provider

The Better bank: Some facts about the credit card provider

Better bank employs approximately 50 people who serve around 500,000 customers. The roots of the Better bank go back to 1954. At that time she founded Quelle-Versand as “Better banks”. The orientation towards the market with private customers was given from the beginning. Nine years later, the financial institution changed its name to ” better bank”.

In 2000, the bank was the first bank to offer instant credit online loans. From then on, trust in the modern technical possibilities was an integral part of the bank’s DNA. In 2006, Better bank was sold to Gutches Bank, which founded it as “Better bank”.

Loans and checking accounts are now the focus of the financial institution’s business. However, the focus on the lending business has been greater in the past. For example, Better bank was the creator of the well-known “easy Credit” credit brand, but is no longer associated with it.

In return, the subsidiary of Gutches Bank has increasingly entered the insurance business. For example, you can take out insurance for your own home (household contents, liability, etc.) and for your vehicle at Better bank.

The target group of the Better bank

The target group of the Better bank

As mentioned, Better bank’s credit cards and other financial products are primarily aimed at private and younger customers. People who value cheap, simple and fast banking should be addressed. The Better bank slogans reflect this orientation: In 2011, for example, the advertisement was “The best solutions are simple!” A few years earlier, the motto was simply “Go ahead!”. “

The target group orientation is also recognizable by the orientation that the house has been pursuing since 2012. At that time it was decided that the Better bank, newly founded in 2006, should act as a pure direct bank. Accordingly, it can only be found online. The Better bank is aimed at customers who have no problems in doing their banking with a smartphone, tablet or computer.

Technical solutions make credit cards more secure

Technical solutions make credit cards more secure

Better bank relies on technical solutions not only so that you, the customer, can contact the direct financial institution. Banking transactions should also become safer and less complicated.

For example, Better bank uses the 3D Secure security procedure for your credit cards. It is a procedure in which transactions must be confirmed using an online password and an additional mobile TAN. It has proven to be particularly reliable, but requires customers to use these devices without problems. So-called NFC chips are also used in the cards. They enable contactless payments up to certain sums.

“Free” as a trademark of Better bank’s credit card offer

"Free" as a trademark of Better bank

The content of all Better bank offers is based on the “free” factor. For example, the current account is advertised with the slogan “unconditionally free”. But loans should also be as cheap as possible and get along without additional costs. In return, benefits such as residual debt insurance are not offered. This will appeal to younger customers for whom it is important to get cheap and free loans.

Better bank has not excluded its credit cards from this strategy. For example, the MasterCard waives an annual fee. As a customer, you should also be able to pay or withdraw money in as many places as possible without additional fees.

 

Are you still thinking that creating or improving your credit history is impossible?

You are probably tired of hearing about your credit history and why we should all take care of it and avoid being at a risk center. However, the news is that all those who have had any relationship with the credit are in these entities responsible for showing the financial history of people, what changes is the way you appear. If you were a good customer, you will appear well; If you were a bad payer, you will be reported that way.

 

Having a good credit history

Having a good credit history

This means that the information that appears in a risk center will be positive, and when an entity makes the query, it will verify that its credit profile is adequate. But is a correct track record only for millionaires? For those who have jobs with a salary through the clouds? Nothing more false!

Something you must be very clear about is that, to build your credit history, all you need is to make the right decisions. Know when to borrow, how to do it and for how long, so that you can resolve that debt properly and without representing a risk to your finances.

So what basic actions can you take to get a positive credit history? First, you have to report to credit. Do not get into debt for millions, but you can start by requesting a basic credit card, and using it every so often. In this way, there will be some information about your use of credit. The most important thing here is that you make payments on the appropriate dates, without abusing installment financing. These are basic points to start building it.

 

Another thing you can and should control is your ability to pay

Because you should not exceed it. By subtracting all your obligations, how much money is left to use in whatever you want? Remember that you should not allocate more than 30% of your income to your debts.

Something else you can consider is how many credit instruments you report to. For example, if you have a credit card, some time later you could apply for a personal loan, so there is variety in the instruments you use. Now, you should only do this if you have a defined objective. Asking for asking is not something valid as it leads to bad practices.

As we mentioned, if you want to take the first step to build your history, you can start by requesting a credit card. Which one to order? Ideally, you compare the alternatives so you can make a good decision.

Credit history – what is it and what does it depend on?

 

Each bank and some loan companies verify the credit history of a potential customer before any loan decision. However, not every person has such a story – in this situation there are people who have not previously incurred any financial obligations. What is a credit history? What does it depend on and why is it worth building?

A positive credit history is often a pass to receive a loan or credit. Financial institutions dealing with lending money are much more favorable towards people who have already incurred financial obligations and paid them back within the set deadline. This, in turn, means that building your credit history depends on using the loan and credit offer.

What is a credit history?

What is a credit history?

The term credit history often appears in the context of the rules for granting bank loans, and increasingly also loans granted by non-bank institutions. Very often it is confused with the concept of creditworthiness; it should be noted, however, that these are not identical phenomena. Creditworthiness is also taken into account by banks and some non-bank institutions before deciding whether to grant a loan, however, it is determined on the basis of completely different premises – the amount of income achieved, the type of contract concluded by the Customer with the employer or the own contribution declared (especially for a mortgage loan).

Credit history is a record of a person’s activities in the context of financial obligations. Information on these activities is sent to the credit checker (Credit Information Bureau). The main purpose of the creation of credit checker was to control borrowers – thanks to the credit checker database, banks can exchange information on financial obligations incurred by customers. This, in turn, enables them to avoid entering into a contract with a person who has a high risk of defaulting or failing to pay it within the prescribed period.

credit checker receives information such as personal data, data on liabilities incurred (including the amount of the liability, repayment period, currency) and repayment timeliness.

Good credit history – what does it mean and how to build it?

Good credit history - what does it mean and how to build it?

A good credit history is one that demonstrates the timely repayment of obligations by a given person. This makes credibility in the eyes of a bank or other institution the probability of trouble-free meeting the terms of the commitment by a potential customer.

You should start building your credit history with small loans. Small liabilities will be much simpler to pay off, and in this case the risk of default is also minimized. Several such operations, even for a small amount, will make a person perceived by the lending institution as a reliable customer. A good credit history may be necessary at another time in your life – eg when a person decides to apply for a mortgage. The conditions for granting such a loan are much more stringent than in the case of a cash loan or an ordinary loan from a non-bank institution. A good credit history is then essential.

When should you start building your credit history?

When should you start building your credit history?

The answer is simple – as soon as possible. Experts meets these expectations. To be able to get a loan, it is enough to be 18 years old, have a bank account, email account, mobile phone with an active SIM card and pass the creditworthiness test. The data provided by the Customer in the form on the home page and the Customer’s credit history are verified by the company. If the checking process is successful, the customer accepts the contract and then James Steerforth.com sends to his account the funds in the previously set amount.

Tips for Choosing a Credit Card For Beginners

Credit cards are already a tool used for payment transactions while shopping or other transactions such as eating at restaurants, watching movies in theaters, hotel reservations and more. It is because in this modern age many people prefer the practicality offered by a credit card. The convenience and security of a credit card is also why people choose it as a payment tool instead of using cash. Even more, fans have seen it since 2015 with credit card users increasing by 16.5 million.

However, many users who use credit cards are not surrounded by enough knowledge and information, especially for beginners. Each user needs a different type of card. According to your needs, the purpose of use and financial ability that will also determine the extent of the limit.

Do you already have a credit card?

Do you already have a credit card?

Or want to apply for a credit card application but are still confused about which one is right for you? Dude, in this article Good Finance will talk about tips you can apply when choosing a credit card. Especially if this is your first credit card submission.

Learn First

A credit card is a full-blown payment instrument. In general, almost all banks offering credit card products will include attractive promotions and promotions, such as discounts when shopping at a particular restaurant or store.

Before applying for a credit card, you need to know the basics, procedures, advantages, and disadvantages of each type, in order to maximize your credit card usage. You can also find out this information from the guides on the internet.

Set Clear Purpose of Use

Before applying, first, consider what your goal is to have a credit card. If you want to have a credit card because you love shopping, then look for a credit card with a discount or cashback offer . If you are a holiday traveler, then look for a credit card that offers discounted hotel reservations or airline tickets.

Consider the Cost

When you are about to apply for a credit card, you need to consider the costs incurred by the bank that issued the credit card such as annual dues, interest, administration fees and so on.

It doesn’t matter if you choose a credit card with the smallest cost. Especially if you will pay the installments at the specified nominal minimum. If you have a fixed source of income and are important enough to pay your monthly bills, at least the minimum, then low costs are a major determining factor in choosing a credit card.

Benefit Discount Offered

Benefit Discount Offered

One of the factors that can be considered when choosing the right credit card is a discount or discount offer. If you’re happy to shop looking for a credit card that offers a lot of discount offers, which is usually the result of a credit card issuer’s bank cooperation with a number of sellers or merchants.

Adjust Usage Limit with Ability

This is important, friend. You should adjust your credit card limit to your regular monthly income. Keep in mind, credit cards are not extra money. So you can’t spend anything at a price that exceeds that credit card limit.

Usually, this is the main thing that people who will be applying for a credit card will often notice. Low-interest rates or 2.95 percent, 2.75 percent, and 2.85 percent may be your choice. If there are banks that offer Credit Cards with this service and work with a variety of merchants to charge up to 0 percent, select this credit card.

Quality of Customer Service

Quality of Customer Service

Customer service or customer service is also one of the factors to consider when choosing a credit card. As a credit card user, you will want to get good and complete service from their issuer, among others, including a 24-hour transaction and complaint service with friendly and friendly staff. If you find it necessary to contact your credit card issuing bank often to ask for everything, it’s important to make sure that the customer service provided by your credit card issuer is exactly what you want.

Ensure Security Level

If you really care about the security of transacting or the security of a credit card owner, we recommend choosing a credit card issuer that gives your customers more security. This form of security can be a photo of yourself or printing a signature on a credit card that will work to reduce the risk of misuse of your credit card by an irresponsible party. In addition, nowadays credit card issuers also offer insurance to their credit cardholders.

Dude, here are some tips you can apply when choosing a credit card issuing bank. Especially for those of you who are still a beginner. You should be wise in selecting and selecting and not be easily influenced by advertisements or promotional promotions from the publisher.

Instant loan in 24 hours without credit bureau.

 

A final loan approval with the instant loan – in 24 hours without Credit Bureau, would be desirable.

Only a preliminary decision within 24 hours that is not from the lender is possible. The article explains how you can make an equally reliable pre-diagnosis yourself.

People who are in an acute financial crisis cannot get fast enough with a loan. The offer for an instant loan in 24 hours without Credit Bureau is just right in many cases. Urgent bills or even final reminders might still be paid before the fee trap hits again. Everyone knows that an instant loan is checked using a simplified procedure and paid out in the shortest possible time. Many prospective customers have been waiting for this concept of success to finally be offered without Credit Bureau.

However, anyone who studies advertising carefully will be disappointed. Not only the black sheep of the trade, but also top-class, demonstrably reputable credit brokerage companies participate in the eyewash. Only a preliminary check of the loan within 24 hours is promised. As with the instant loan without Credit Bureau with immediate approval, the preliminary check is carried out by a credit broker on their own. The preliminary decision is based on his credit experience.

How meaningful can a preliminary decision be?

How meaningful can a preliminary decision be?

With a normal instant loan, preliminary credit checks using a fully automated check procedure have long been standard. The exact criteria by which a credit institution evaluates are a well-protected trade secret. Only general key data are published. No credit institution reveals what the credit check program checks in detail, how often small and large adjustments are made.

It is not a problem. The preliminary credit check takes place in the house of the actual lender – on his server. No stranger needs to know the trade secrets for the credit check to give a realistic result. An instant loan in 24 hours without Credit Bureau is not pre-checked by the lender himself. As far as is known, only one foreign credit bank currently offers a Credit Bureau-free credit solution for Germans. That is Cream Bank AG from Liechtenstein. The loan offer can be made directly, but also through a reputable credit broker.

The Liechtenstein company does not guarantee an instant loan or a credit check within 24 hours. The preliminary examination, without having the slightest decision-making power, is a look into the crystal ball. Instead of applying for an instant loan in 24 hours without Credit Bureau, the preliminary check can also be carried out yourself.

Personal preliminary examination in 1 minute – credit without Credit Bureau

Personal preliminary examination in 1 minute - credit without Credit Bureau

The following case study relates to a single borrower with no maintenance obligations. The loan application will be rejected if..

– The prospective borrower is entered in the public debt register
– There is an attachment of income
– The labor income has been assigned
– The prospect is self-employed or unemployed
– The employment contract is limited in time 
– The prospect is 58 or older
– The applicant has been with his employer for less than 12 months
– The net labor income falls below 1,130 USD (single person)

If one of the above key points cannot be met, the loan is definitely rejected. Aid from a guarantor is excluded.

An instant loan in 24 hours without Credit Bureau is a normal loan without Credit Bureau and the most important decision criteria are now known. Individual uncertainties can only arise with the level of income. The phone support of the Liechtensteiner Cream Bank is very nice and competent at the same time. Nobody guarantees that targeted demand is resentful.

Credit conditions – Credit Bureau-free credit from Liechtenstein

Credit conditions - Credit Bureau-free credit from Liechtenstein

A loan without Credit Bureau is only offered in two loan amounts, USD 3,500 and USD 5,000 net loan. The term is fixed to 40 months for both loan models.

An effective annual interest rate of 11.62 percent is calculated for the loan of USD 3,500. A monthly payment of USD 105.95 is payable. A total of 4,238 USD will be repaid. Under otherwise optimal conditions, a single person must prove a monthly net work income of at least 1,130 USD.

A loan without Credit Bureau in the amount of 5,000 USD costs 11.61 percent effective annual interest. The monthly installment for this loan amount is 151.35 USD. A total of 6,054 USD will be repaid. A single person must already be able to prove a net work income of 1,600 USD for this credit request.

The effective annual interest rates mentioned apply as of October 22, 2013, for direct applications and non-cash payments. External costs, such as certification fees or agency costs, are not recorded. An instant loan in 24 hours without Credit Bureau is only the advertising offer of a credit broker. It therefore costs about three percent of the loan amount additional agency fees.

Small Loans Comparison – Find out interest

The amount up to which loans are referred to as small loans is not binding and is therefore based on the practices of the individual banks. Most consumers perceive the border between a small loan and a larger loan amount to be between three thousand and five thousand USD. However, some credit institutions also refer to any non-earmarked loan, regardless of the loan amount, as a small loan and thus use the term as a synonym for a consumer loan.

Interest on a small loan

Interest on a small loan

The interest to be paid is usually higher for non-earmarked small loans compared to the loans to be paid for earmarked loans. The main reason is that in the case of earmarked loans such as the real estate loan or the new car loan, the financed item serves as additional credit security. Compared to these loans, small loans have higher default risks for the lender due to the lower level of collateral.

However, applying for a small loan is much easier for the borrower than for earmarked loans, since he does not have to provide any evidence of the intended use of money. A prerequisite for the granting of a small loan is a good credit rating, which the bank primarily understands to be sufficient income to repay the loan.

Weak negative characteristics in the Credit Bureau information do not necessarily prevent the approval of a small loan, depending on the bank and the loan amount requested. If the bank rejects a loan application, the borrower can in many cases make an amended application with a longer term and receives a commitment due to the lower monthly installments thanks to the extension of the term.

Compare the cost of a small loan

Compare the cost of a small loan

In view of the different costs for small loans depending on the bank, it is imperative to compare the terms of different providers. The most important criterion for choosing a specific loan offer is the effective annual interest rate, since only this contains all the costs associated with taking out small loans. In addition to the interest rate, the offers for small loans from different banks differ in the flexibility of repayment.

It is advantageous for the borrower if he can pay off the small loan prematurely in whole or in part free of charge or if he can suspend the installment if necessary. Banks also differ significantly with regard to the duration of loan processing. If the loan applied for is a small amount, the cheap borrowing via a platform for arranging personal loans is ideal. Small loans are often given cheaply on the corresponding pages compared to banks.

In contrast to the method of lending by banks, a small loan applied for via a corresponding platform requires the purpose to be stated, since private lenders see this as the basis for deciding on their lending. In some cases, those who cannot apply for a small loan from a bank for economic reasons will receive a cheap loan from the office. This applies especially to recipients of unemployment benefit II if they cannot pay for urgently needed purchases from normal support.

Loan up to $ 300 in 30 days without guarantees.

In an easy way and in a few minutes, you can send your credit request through its website. Their loans will give you the opportunity to reach amounts from $ 50 to $ 300 to be repaid within 7 to 30 days from when they receive your request.

Unlike other types of credits in the sector, the online loans that Good Lender offers you are not free. However there will be no surprises regarding the cost of your fees, since from the first moment you will be informed of all the costs associated with your request.

Amount and term of repayment of the loan

Amount and term of repayment of the loan

If you process your loan application with Good Lender you can get a first loan from $ 50 to $ 300 to be repaid within a maximum period of 30 calendar days from the date of your request. Without a doubt this is an interesting amount to be a first loan application when compared to other loan offers on the internet.

Steps to request a loan with Good Lender

Steps to request a loan with Good Lender

To apply for your loan, you can start by accessing the Good Lender website, selecting the amount of money you need, and the term of your return.

The Good Lender website has a loan simulator in which they allow you to carry out the checks you need before sending your request, which will help you keep in mind at all times the date the loan is due, or the cost of the loans. fees applied in each case.

If you are satisfied with the information that Good Lender provides you, you can apply for the loan and start completing its web form with your personal and financial data necessary to analyze your case.

After analyzing your request Good Lender will resolve to approve or deny your request based on your solvency capacity, the status of your credit history, and whether or not you are registered in the file of defaulters as Financial Credit Institutions. If you do not have a clean history and your data also appears in Financial Credit Institutions, Good Lender may decide to reject your request.

In the event that Good Lender approves your loan you will receive an immediate response, being able to have the money in your account in an interval close to 1 hour.

Application requirements

Application requirements

Before resolving a loan request, Good Lender will check your creditworthiness to ensure that you have regular and sufficient income, in addition to having a clean credit history that supports your ability to face the debt that you contract without problems.

The following is the list of application requirements demanded by Good Lender to all its clients before approving their application:

  • Be over 21 years old
  • Have a bank account in your name
  • Be the owner of an active mobile phone
  • Have an email address
  • Have a residence in Spain that you can prove with your DNI or NIE

Therefore, if you are going to send your loan application to this entity, you must bear in mind that it will be necessary for you to comply with the conditions stated in addition to being able to demonstrate your solvency capacity.

Loan repayment

Loan repayment

Good Lender offers you different payment methods to facilitate the return of your credit payment on time. In this way, you can choose to make the payment by bank transfer or if you prefer with your credit card.

Problems with your return?

If, as the return date is approaching, you realize that you cannot make the payment of the contracted debt on time, you should contact Good Lender as soon as possible to contract an extension to have more time to make the payment of your return..

Therefore, when the maturity date of the Good Lender loan comes, it gives you the option of facing its payment, or contracting an extension of the term, which depending on the amount of your debt may be 7, 15, 30 calendar days from the maturity date, with a cost of 0.8% per day with respect to the capital loaned.

When you will default on your Good Lender loan, you may require a 1.2% daily penalty for default on the amount of your credit.

In the event that due to your particular situation you prefer to cancel the loan before its maturity, Good Lender grants you the right to pay your loan before the agreed date without additional costs, although in this case you will not enjoy lower rates either.

If you do not fulfill your payment obligations contemplated in your contract, Good Lender reserves its right to report your data to the Financial Credit Institutions defaulters file or even take legal action to claim the outstanding debt.

Conclusion

Conclusion

Good Lender is a fast loan entity that grants amounts from $ 50 to $ 300 to be repaid within 7 to 30 days. Unlike other entities in the sector, with this company it is possible to obtain a first loan of up to $ 800 immediately and without many complications.

You just have to meet their application requirements and demonstrate your creditworthiness, and you could enjoy the requested money within hours.

In addition, in the event that you have problems complying with the payment of your debt within the term agreed in your contract, Good Lender gives you the option of contracting an extension of 7, 15 or 30 days to make the payment of your debt with all the facilities and without burdens.

How to extend the repayment of another loan or credit installment?

There are extremely difficult and demanding periods for our portfolio. Sudden situations in life may require large and unforeseen expenses. If we are in the process of paying off a financial liability, we are at risk of losing financial liquidity. What can we do to extend the repayment date of the next installment? There are several ways to get out of this situation unscathed.

A loan payment often consists of an interest payment and a payment to reduce the loan’s principal balance. The interest portion is recorded as an expense, while the principal portion is a reduction of a liability such as Loan Payable or Notes Payable.

Do not avoid cooperation with the bank

Do not avoid cooperation with the bank

Some debtors immediately create black scenarios in their head, including bailiff and eviction. Relax, if we take the right action, it won’t be too bad. First of all, inform your bank or loan company as soon as possible about the more difficult situation. Striving for bailiff enforcement is not in the interest of creditors, for whom it is a waste of time and money. For this reason, the bank or loan company prefers to find a joint agreement that will be satisfactory for both parties.

Possible solution to the situation

Possible solution to the situation

The lender has the option of temporarily suspending the repayment of our liability. In this way, we will receive time that will allow us to regain financial liquidity. Moreover, a bank or loan company can opt for this step at no additional cost to give the customer the option of paying off the rest of the liability. Another way out is to extend the loan repayment date. In this way, the monthly installment will become significantly lower. This, of course, involves a higher total cost, but at least it allows you to continue paying the installments systematically.

Consequences of late payment

Consequences of late payment

Certainly, the problem should not be underestimated and installments should not be delayed. In this way, loan companies and banks may charge a penalty interest rate. Their height may correspond to four times the pawnshop rate. As a result, we will only fuel a debt spiral that will be difficult to get out of. In a more difficult situation, talk to your lender as soon as possible to avoid this type of experience.