A credit can be a tool to help you achieve a goal, whatever it may be. From starting or improving your business, buying a car, paying for the studies of children / grandchildren, taking a trip or having a dream vacation.
Once you have reflected and decided that you need a loan, analyze your borrowing capacity. This cannot be more than 20% of your total income.
The easiest way to calculate it is to make the sum of the monthly income you receive and multiply it by 0.20. The result will be the amount you can pay for one credit per month, without compromising your economy.
Now, to get a credit you must have a good credit history.
What does this mean?
There is an external entity known as the Credit Bureau that issues a report on your credit behavior, that is, it notifies you if you have paid in time and form the credits that you have previously obtained.
Making the credit application
Ask for all the information related to the credit: maximum and minimum amounts, rate, terms and additional benefits. For example, a financial company that provides loans from $ 3,000 to $ 150,000 to retirees and pensioners, with terms of up to 24 months and free life insurance.
To apply, you must submit basic documentation. Take care that there is no missing document to avoid delays in the evaluation process. The financial institution will also ask for personal information. It is important that all the data you provide be true; Due to an incongruity, your application will automatically be rejected.
Once your credit is pre-approved, make sure that the credit conditions are the best, according to your needs.
And when signing the contract, take the time you need to read the formats you are going to sign. Remember to ask for a copy of each one to have it as a backup and means of consultation.
Once you have deposited the money in your account, be sure to use it for what you initially considered. It is common that we begin to have money for other situations until we spend everything.
Remember, requesting a loan and paying it in time and form opens the door to future loans and larger financing to meet other types of goals, such as buying a property.