What To Remember Obtaining Personal Credit

Looking at banks advertising one may decide that credits are distributed right and left and almost for nothing. We recommend not believe this advertising spam. You should remember that work of marketing specialists to try to entice clients into bank. Actually various traps can expect the borrower.

Before the agreement conclusion it is necessary to specify a percentage commission on the credit. The rate of 10% a year is often declared. Actually there can be even 30%. Therefore the first that the borrower should do is to be completely concentrated studying terms of the contract. Find out total sum of payments and request the detailed calculation for every month. It won’t take a lot of time as this work is performed by a special program. For this purpose information on a specific loan is simply entered.

If specialists of the bank try to convince you that it is very easy to arrange a credit at their bank be careful. “Easy” credit can be very unprofitable. The offer to issue a large personal credit at the availability of minimum documents, lack of pledge and guarantee can result with overestimated percentage commission.

So, for example, shops of household appliances arrange the credits without preliminary fee. Actually, it is not so. Finally the interest rate of such credit can be from 30 to 50%. You should remember that work of banks is an ordinary work of money-lenders. Nobody will grant money without profit. Therefore, if you need money don’t take the credit at the first nearest bank. It may be fatal to your budget.

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