Introduction
The credit bankcard is known by both individuals and companies as a safe and fast method to obtain financing. However, as there are different solutions available for clients, you might want to know the particularities of those instruments, so you could use them effectively.
Step 1
The newest products released by the banks are actually some packages including a large number of features, including the credit bank card. Make sure the respective card can be used for internet payments, and ask about the security measures available for the card. The facility is good for the companies that have problems during the financial recession we are experiencing, and for individuals that have a shortage of cash currently.
Step 2
If you want a big limit on your credit bank card, the bank might solicit warranties. Usually, your approval for the bank to withdraw the money for the rates directly from your account will be enough, but in some cases, the bank might solicit physical warranties such as cars and real estates.
Step 3
Calculate the commissions and interests you need to pay for the credit bank card. Usually, they are small, but some banks propose you “exotic” cards with some expensive facilities that you don’t really need. For example, the card might come with an insurance that you need to pay monthly, but why would you need such a contract as long as you already have an agreement with another insurance company?
Step 4
The rate of interest for the credit bank card has to be variable, and the commissions must be agreed by the client with the bank.
Step 5
There is a maximum allowed sum for those credit lines, but in some exceptional situations, if you are an old client of the bank or if you have a positive credit history, the bank might approve a larger limit than the standard one for the credit bank card.
Tips
You can use the money in every way you want, unless specified otherwise in the credit contract. As a company, you can pay for the materials you are using in the manufacturing process, and as an individual, you can buy services and objects from the internet, or you can use the money to pay other ongoing obligations such as rates and bills.
The conditions of approval for a credit bank card are standard. A company must have at least two years of functioning, with profits for the last year, and an individual needs a stable job and a positive credit history. Again, facilities and discounts can be applied for the oldest clients of the banks, or if you take the respective credit bank card as a part of a larger package.
The bank must verify if your company has unpaid debts to the government. In case you have such obligations, you will need to pay them all before the credit bank card is approved, or to use the money you receive on the card to pay the respective ongoing debts. In any case, talk with the bank about all those details, as you don’t want to have an unpleasant surprise.
