Advantages of Online Credit Comparison

Comparing loans online today is no more difficult than sending an e-mail. The online comparison offers significant advantages.

Applying for a loan or financing no longer requires going to the bank and an eternal conversation with the customer advisor, who of course only wants the best – usually only the best for the bank. It was previously difficult to compare different offers from different banks directly. But in times of the Internet there is of course the possibility to get an online comparison with just a few clicks and to have an individual offer created. In particular, installment loans are offered over the Internet that can be used for all possible purposes of financing. For example, if a bank only grants a loan above a certain, higher amount, you can apply for a loan online for just a few hundred euros. As with a bank, repayment is made in monthly fixed installments.


Online loans with a low interest rate

Online loans with a low interest rate

A major advantage that many banks cannot keep up with is the interest rate offered when financing on the Internet. The interest rates that are available online are often 3-5% lower than at branch banks. As mentioned above, talking to the bank used to be essential – this was something that many potential borrowers were tired of. Applying for a loan these days is much easier and also more convenient. Not only that you can apply for it at any time, whether at night or on public holidays – the loans are also paid out a lot faster, usually within a few days. An online application makes it easy to select the loan and apply. You can also compare different banks and credit providers.

For a non-binding loan comparison


Applying online is much easier than in a branch

Applying online is much easier than in a branch

Nevertheless, the interest rate naturally also depends on the creditworthiness of the lender. That means income, employment relationship, etc. A scoring is then created with this data, which is decisive for the interest. The current interest rate is then communicated when you apply online. After you have entered all the required data in the mask of the application, the interest rate is calculated on the basis of this. The calculation of the interest rate online does not differ from the calculation in a branch. In the bank, however, you have to face a more than detailed conversation, which you can easily bypass online and still get the same result. A real comparison of different banks, if you don’t want to do this online, takes a lot of time, because you have to walk from bank to bank and get the loan offers with the respective consultation


All in all, the online comparison is worthwhile

All in all, the online comparison is worthwhile

In summary, it can be said that the comparison of online loans is definitely worthwhile and saves a lot of time. If you think you can also call the banks and find out about the loan offers, you unfortunately have to be disappointed because they are no longer made over the phone. A conversation is therefore a prerequisite for receiving the loan offer. Those who are afraid to conclude a loan agreement without wanting to do so can be reassured, because a binding commitment to finance is often oversized when applying online and can hardly be overlooked.

Training Loan – How does it work

A loan for trainees can make monthly financing considerably easier. However, the training loan can also be applied for further training.

Finance nowadays offers a wide range of loans to provide finance. There are a wide variety of loans that are often tailored to a specific purpose. The installment loan is probably still the most popular loan, but it is also possible to differentiate in this area of ​​the installment loan. The offers of financing through installment loans often differ only in minute details, but these details are important for some customers so that the loan exactly matches their financing needs. In this respect, it is now common for banks to offer special loans. These special loans are then not accessible to everyone, but only to certain customers.


The training loan

training loan

Among other things, the official loan, the student loan and also the training loan count among these special loans – better said, they are a sub-category of installment loans, only intended for a separate group of people. The training loan, as the name suggests, is a special loan for trainees. But not only people in training can avail themselves of this loan, it is also intended for people who have to finance further education or training. The loan for trainees is in principle a normal installment loan, as any customer can apply for. In this respect, this means that the repayment is made in monthly installments until the loan has been repaid in full.


Where can you get a training loan?

Where can you get a training loan?

Not all banks grant this special training loan, but the loan for trainees can usually be obtained from many credit institutions, especially from larger banks. The credit for trainees is primarily intended to facilitate training, further education, or further training, since new acquisitions usually have to be financed, such as a PC or learning materials. The training loan should also be a support that can be accessed on a monthly basis. Since one often earns little or no money from training, further education or advanced training, the training loan should also serve to finance one’s livelihood.


The requirements for a training loan

The requirements for a training loan

In order to receive a loan for trainees, various criteria must be met at the bank – as is the case with almost every loan. One of these criteria is the credit recordinformation, which must not show any negative entries. Many banks that offer the training loan also set a certain limit for their age, so that, for example, you no longer get a training loan over 30 years but have to resort to a normal installment loan. In addition, especially when it comes to trainees, the bank can still set a prerequisite for passing the intermediate exam or a similar exam. You could say that this is a kind of security for the bank. If the apprentice has passed the intermediate examination, it is also very likely that the apprenticeship will be completed and the borrower will be given work to repay the loan. Probably the biggest advantage of an apprenticeship loan and here it differs significantly from the normal installment loan is the interest rate. The interest rate on the loan for trainees is relatively low, so that later the trainee does not get into a financial emergency situation at the normal, ie higher interest rates. A usual training loan is usually granted in the range of 2,000 to 6,000 dollars.

Private Loans – more information to know

Personal loans are becoming more popular and are the alternative to a bank loan. Anyone who has played the game of banks once knows that there are many conditions attached to a loan. Mountains of forms and long waiting times join the credit inquiries. The alternative to a bank loan is a personal loan. At first glance, this may seem questionable, but in addition to rip-offs who earn their money with high interest rates, there are also serious private partners. These private donors see the loans as an ideal investment of their money.


Private credit: Not just an opportunity for start-ups!

Private credit: Not just an opportunity for start-ups!

Business start-ups in particular, who are just beginning their professional independence, have many problems with banks. For business founders, the bank must see great potential in the idea that is sold for a loan to be approved. However, start-ups and those who want to become one also have the opportunity to obtain their loans from private individuals.

The advantage of a private loan is obvious: Although you pay interest to private lenders, these are usually lower than those of a bank, but they are higher than, for example, overnight or time deposits, which is why the lender has a large one Advantage of return.

For example, if you are a business founder, you still have some convincing work to do. A mature business plan should definitely be available to convince the private investor. As a business founder, you also have a great advantage if you choose the private equity option: You have someone with a lot of experience at your fingertips who will help you on the often rocky road to starting a business. Here is more information on private equity and venture capital.


Find the right partner

private loans

Of course, there are also black sheep in the private loan industry. The Internet is a good source of information: there are already some portals through which you can apply for a loan from a private person. Here you enter the amount of the loan required and the amount of interest that you have imagined.

The lender then becomes aware of your ad in a pool. As a borrower, you can also browse through the advertisements and find yourself a private lender. Always make sure that your credit rating is asked, if it is not checked, it is better to stay away from it. Credit checks are a good sign that people are also concerned about the loans to be granted – and it also serves your safety. But not only you, the lender is also checked.

Such portals usually work closely with credit record, which carries out the credit checks. This is not always pleasant, but you are on the safe side with such portals and do not have to be afraid of high interest rates, which you might end up ruining.

Mortgage Loan Applications and Trigger Leads

Don’t be caught off guard by unwittingly triggering a trigger. Everyone seems to regret it.

Suppose you decide to buy a house and get a mortgage. To call a mortgage broker recommended by your broker, a family member or a friend. Perhaps this is a reputable mortgage bank that you have done business with in the past. You fill out a loan application and receive a letter from preapproval.

Then from the clear blue, another mortgage company calls you. The lender could say that they are connected to a credit bureau or gives another red-flag reason for the call. Your suspicions aroused. Wondering how did they know you were getting a mortgage and why would they call you?

When you apply for a loan, your mortgage professional pulls out a copy of your credit report. This solves a request. The credit bureau then turns and sells your name to other mortgage companies. It is not against the law for credit agencies to sell your data to third parties. This is called a trigger lead.


Stop trigger leads

Stop trigger leads

You are about to give yourself up to one of the greatest transactions of your life, and the last thing you need to call a rep loan is to fake interest up. Deal with a trusted professional, not some telemarketers. Don’t always buy something over the phone.

Here are three ways to stop triggering harassment:

  • Put your name and phone number on the National Do Not Call Registry. You can register your cell phone number as well. Do this at least a month before you apply for a loan because it takes 31 days to take effect. Make a note of re-registering every five years as the order expires at the end of five years.
  • To prevent mortgage companies from sending you direct mail, you must register with the direct mail association. Whether you register online or by mail, it will cost you $ 1.00, which can be charged to your credit card. Register early as the DMA distributes its lists on a quarterly basis, so it might take a while to take effect. This registration is good for five years.
  • Sign up for OutScreen. This will stop the four credit bureaus from selling your names as triggers. They are Qualifax,  Transflix. The Fair Credit Reporting Act allows your name to be sold, but opting out has resulted in triggering leads for five years.


Mortgage loan applicants

Mortgage loan applicants

Lenders reports that by opting out, you can add 10 to 15 points to your credit score! For permanent reluctance, you must register in your mail, which is also available on the OutScreen website.

You may also have to ask your mortgage lender how to prevent your name from becoming a trigger guide. Some mortgage lenders may not accept a document with the sale of your personal information that you can sign at the time you receive the mortgage as well. Since the sale of your personal information can also be financed after the mortgage is closed. Who knows, maybe a targeted candidate to refinance a mortgage?

Supplier credit – is there an alternative?

Financing is becoming increasingly difficult for small and medium-sized businesses, but there is a great alternative for increasing the liquidity of your company.


Do you need liquidity for your company?

We finance you

We finance you

Entrepreneurs can easily find themselves in the situation that they cannot generate sufficient liquidity, for example to make new purchases for their business or to buy goods for production. In this respect, debt financing is very important for entrepreneurs. When it comes to debt financing, you probably automatically think of a loan that a bank lends to the company. But it doesn’t always have to be money that flows – there is also an alternative. An alternative that does not come from a bank and that does not involve any capital: the commercial loan.


The alternative to a bank


Banks now have a wide range of forms of financing for companies, the self-employed and business owners. These forms of financing are exclusively linked to capital, i.e. loans that banks grant to companies. This seems to be the normal way to get debt financing and that companies become liquid to invest new finance in their company. However, the commercial loan offers many businesspeople an opportunity to obtain external financing. Trade credit is often also understood to mean supplier credit.


Trade credit: Neither bank nor capital in play!

Trade credit: Neither bank nor capital in play!

There is no bank involved in the trade or supplier loan, nor does capital make up this financing. Only the buyer and the seller are the ones who hold the necessary threads in the hand of a commercial loan. In order to correctly name the commercial loan, it is a kind of deferral of payment. This means that the parties to the buyer and seller negotiate a later payment term for the goods that the seller brings. As a rule, this period is up to six months after delivery of the goods. In plain language, this means that the seller who delivers the goods to the buyer grants the buyer a delay in payment. The delivery of goods will therefore only be paid for at a later date.


Advantages for the buyer

credit loan

Of course, this has an immense advantage for the buyer: he does not have to go to a bank and ask for outside financing, but can bridge a short-term liquidity bottleneck with his seller. In this respect, there are no costs for taking out financing from a bank and the credit line is not used to finance goods.

The commercial loan does not cost the buyer. It is also often the case that suppliers also give buyers a discount if they do not use the deferral of payment and pay for the delivered goods immediately. For many companies, however, this is not possible because they only produce products that they sell and thus generate liquidity by producing with the goods supplied by the seller.