Why a revolving credit offers benefits on other forms of borrowing such as a personal loan has a number of reasons that make the revolving credit by far the most popular form of borrowing.
This of course for amounts that are around 10000 euros, this is also the amount that is requested the most. Why this is explained further in the article and also the possibility to request a free quote.
Why a revolving credit offers benefits
The benefits on a personal loan may be clear, but I will explain them point by point. With a revolving credit (Good lender) you only start paying interest when you start using it. Unlike other loans, you do not get the amount deposited in your account. A separate account will be created for you and this way you can transfer money from this special account to your own private account. This does not have to be with the same bank, it is no matter where you bank with your private. Via online banking you can decide for yourself how much money needs to be transferred without the intervention of others.
A major advantage of the Good Lender is that a fixed end time is agreed, but after this period you can ask again to extend the credit. In this way you keep the amount at your disposal for a very long period of time and if you do not use it, no interest has to be paid. This way, a good amount is available for emergencies and a relatively cheap solution.
Reimburse repaid amounts
Another benefit that many people take advantage of is the fact that monthly amounts that you have already repaid may withdraw. Suppose you have a good lender of 10000 euros and you pay back your monthly amount to the lender. Now something expensive is going down and you have to have it made. Unfortunately you have no money for that. But luckily you still have the good lender that you have been repaying for months. You can now simply transfer the paid installments back to your own account.
The variable interest rate can be an advantage. Certainly now that interest rates are historically low, take advantage of that with a revolving credit. But interest rates can also rise and you will immediately notice that in your wallet, or monthly installments. It can be both an advantage and a disadvantage.
Revolving credit can be cheap
As you can see, revolving credit does not have to be expensive. Certainly if you do not use it in the first instance and only use the credit when the need is there. But just like with all other credit, borrowing always costs money. So think before you start.