Apply for a credit card or personal credit?
The need for financing is almost always accompanied by doubt. What type of financing is better? If you are one of the people who are in the dilemma of what type of credit they should choose, this information may be very helpful. What is best for you Apply for a credit card or personal credit? Let’s find out.
Should you apply for a credit card?
It depends. A credit card is not just any financing, in fact, beyond the first impression that you will have a reusable credit line and revolving credit , you should know that this type of financing will not serve you in the following circumstances:
- If you need a lot of money
- When you require cash immediately
- If you require transactions where they do not accept card
The credit card is convenient when you want an extraordinary means of payment to be able to take advantage of promotions and discounts and, in addition, it serves as financing. Above all, it is highly recommended when you are a total person and use the financing only to finance some purchases or payments that are not charged interest.
Especially if you are a total zero, in addition to looking for a card, try to opt for those that do not charge annuity, so make sure you do not have to pay
Advantages of the credit card:
- You can get it without having a credit history
- Open the doors to multiple credits
- It is possible not to pay a single interest weight with it
- Provides access to promotions and discounts
- Grant access to various rewards programs
Should you apply for personal credit?
Personal credit is more convenient when you need a specific amount of money for a very specific purpose, such as going on vacation, remodeling the house or buying a car.
This is because a personal credit is more likely to be authorized for higher amounts and faster.
Advantages of the personal loan:
- You are aware of what fees you will have to pay from the beginning
- They are fast ; online credits usually take between 24h and 48h to deposit the money in your account and the bank maximum 15 days
But, there are some points that are not as good as:
- The interest rate that the loans handle, which usually, the higher the amount or the longer the term, the less cheap they are
- The monthly payments are fixed and without minimum payment options
- There is no possibility of being a total zero, that is, once you contract the loan you will end up paying the corresponding interest if or if.
The best way to know if it is advisable to choose between a credit card or a personal loan, is knowing the advantages and strengths of each. After what we just told you. Which one do you think is better?