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Difference between credit and debit cards

Credit cards give us money or allow us to pay

Credit cards give us money or allow us to pay

There is one main difference and that is the one that interests you the most: credit cards give us money or allow us to pay even if there is no money in the account and debit cards do not. In other words, the advice of a humble blogger: use the debit card whenever possible and leave the credit card for situations of real need.

It has happened to all of us that the first days of the month have arrived, those in which our bank charges us what was spent with the credit card in the previous month, and an important amount of money disappears from our payroll. We put our hands to our heads and swear in Aramaic ensuring that the bank has been confused. But no.

We consulted the movements of the card and we remembered that dinner we paid for, the leather jacket that we were not able to leave in the store, the supermarket purchase that (we still don’t know why) we decided to pay with that one and not with the debit card or that night at 5 o’clock in the morning in which, with a couple of extra loops on top, we did not care “throw away the card”. That is, we add and the figures come out.

Because paying with a credit card is also paying. Of course it is. Even if the money does not disappear from our account instantly, it will do so at another time.

Other uneven features of debit and credit cards

Other uneven features of debit and credit cards

Bank account: debit cards are connected to a bank and the charge to the account is direct, therefore, it is necessary to have an account at that bank. Credit cards are not always issued by banks. A credit company, for example, can make us one and it is not necessary to have an account with them. Rather, it is impossible to have an account with them because they are not a bank.

Commissions: It depends on each bank, but as a general rule, debit cards usually carry much lower commissions than credit cards. Insurance and protection: credit cards tend to have insurance annexes and protection systems for purchases that debit cards are often much lighter. There are many more differences, obviously, however, these four comments are the most basic and useful to know for ordinary mortals.

8 things to keep in mind before requesting a quick credit

A quick credit is a way to get money immediately, something that can help us at a specific moment in which an unforeseen or extra expense arises. It is very important to keep in mind that they are loans that must be requested in a responsible way and for specific cases, and always reading the fine print, since afterwards it is time to return them, you have to pay interest and we can take the odd surprise.
To avoid any problem, it is important that you take these 8 aspects into account before applying for your credit.

Prepare a budget as detailed as possible

Prepare a budget as detailed as possible

Where it is contemplated how much money you need, in what period you can return it, how much you will ask for and how much this credit will cost you in terms of interest for its return. You should request the money you need, never again “just in case”, since this translates into more expenses and a not very high amount is easier to be granted and it will be easier for you to return it.

When you apply for one of these quick loans you must be sure that you will be able to repay it without any problem. You will know this if you are clear that you are going to collect your usual income and you will be able to face this return.

Used as a regular financing measure

Used as a regular financing measure

And remember that fast credit should never be used as a regular financing measure, neither for compulsory purchases nor to cover a debt, since in this way you could get yourself into a dangerous spiral. It should be used for cases in which you need an extra liquidity due to an occasional unforeseen event. Once this specific problem has been solved, and having your monthly income assured, you can return the loan without complications.

Read carefully all the conditions of the contract. You must be very clear about the terms of return and the interest that you will have to pay to return the requested credit, among other aspects. Check if they are going to charge you some type of commission and make sure you are in contact with a safe and trustworthy entity.

Study various options. Surely you urgently need that money, but try to study the possible possible alternatives. Analyze proposals from different concessionaires to find the best conditions for your loan. You can use a comparator to help you find the alternative that best suits your needs.

Keep in mind the deadlines to repay your credit fast.

Keep in mind the deadlines to repay your credit fast.

The longer it is and the more days you have to repay it, the more you will pay in total for the loan requested, so it may be better for you to opt for higher repayment fees but in a shorter period of time. Study the variables and take into account all aspects.

Analyze the requirements. Do not send a quick credit application without having read the requirements you have to fulfill in order for it to be granted. Some entities request payroll, others even process applications from people listed in the Financial Credit Institution files.

Keep in mind when you need the money. It is a variable that is not usually considered often but it is also very important since if you need it very urgently, you must send the documentation as soon as possible and in some cases weekends and holidays are taken into account, so it could be delayed. your concession.

In short, the most important thing is that you document and study all the possible options, and that from each one you look at the interest rates that apply, the repayment period and the conditions of requesting this quick loan. Always keeping in mind that it should be requested with caution and with the certainty that you will be able to return it.

Facilitated credit with Pension Check?

Discounted loans for state and public pensioners

Discounted loans for state and public pensioners

With the Save Italy Decree (Legislative Decree 201/11), Government Agency was abolished and all services provided to employees and pensioners of the public administration became the responsibility of Social Institute. To manage ex Government Agency practices, the institute has set up a special office, which is called Public Employees Management.

The management of public employees deals both with the management of the pension fund of the former Government Agency members and with providing the services and services dedicated to them. Among these are pensioner Government Agency loans, loans at subsidized interest rates for pensioners in the public administration. But let’s see in detail what the credit lines that Government Agency pensioners can access.

Small loans

Small loans

Among the pensioners Government Agency loans we find the small loan, which allows obtaining loans on the assignment of the fifth repayable in 1, 2, 3, or 4 years. Accessible only to members of the Unified Management of Credit and Social Benefits, this loan provides for the disbursement of amounts defined on the basis of the pension received by the applicant and the duration of the amortization plan.

In fact, for each year of repayment, it is possible to obtain a sum equal to two average net monthly payments received by the applicant, without prejudice to the limit of the transferable portion. In the event that the member has other loans in progress on assignment of the fifth of the pension, the maximum amount payable is reduced to an average net monthly salary for each year of amortization.

A fixed interest rate of 4.25%, a rate of administration fees of 0.50% and a premium for the Social Institute Risk Fund, established on the basis of the age of the applicant, apply to the gross amount of the loan. and the repayment duration. Since they fall into the category of personal loans to obtain small Government Agency loans, there is no need to produce reasons or present medical certificates.

Multi-year loans

In addition to small loans, former Government Agency pensioners can also access multi-year pensioner Government Agency loans, loans granted by the Social Institute credit fund for actual and documented personal or family needs, falling within the cases provided for by the Government Agency loan regulation. To access multi-year loans, it is necessary to have been registered for at least four years in the Unified Management of credit and social benefits.

The duration of the loan (which can be five or ten years) and the maximum amount of the loan are defined on the basis of the reason for which the loan is requested. The loan is repaid by assigning a fifth of the salary and the repayment begins the second month following the disbursement of the sum.

The interest rate applied is 3.50%. And as for small loans, a rate of administration fees of 0.5% and a premium for the payment of the Risk Fund apply to the gross amount of long-term loans.

How to apply for loans

How to apply for loans

But how to apply for Government Agency retired loans? Application forms can be downloaded, in Pdf format, directly from the official Social Institute website. To reach the forms relating to loans dedicated to pensioners, it is necessary to connect to the Social Institute website and follow the path: “Services and Services – All modules – Management of Public Employees – Member / Pensioner – Credit and social benefits”.

For both small loans and long-term loans, the application must be sent to Social Institute electronically. To submit the request, civil servants must contact the Administration they belong to, whereas retirees must use the special online service.

Finally, as regards the documents to be attached to the request, a small medical certificate and a few income documents are sufficient for small loans. For multi-year loans, on the other hand, it is necessary to attach all the documentation certifying the applicant’s state of need. These documents therefore vary according to the reason why the funding is requested.

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Civil Invalid Loans Social Institute: the solutions to receive credit

Social Institute civil invalid loans are not easy to obtain. With the disability treatment, in fact, it is not possible to request the transfer of the fifth.

Civil disability: how to access credit

Civil disability: how to access credit

Civilian disabled people receive a monthly sum from the state that allows them to more effectively meet healthcare costs and more. Unfortunately, this emolument is not always sufficient to live, which is why we make use of invalid civil Social Institute loans, which do not include the transfer of the fifth but which can be obtained by considering different alternatives.

An example? The traditional personal loan granted by a financial company or by a credit institution.

In this case it is possible to request a sum of money without having to present a proof of the expenses made with the amount received.

How a civilian disabled can apply for a loan: the alternatives available

How a civilian disabled can apply for a loan: the alternatives available

When it comes to civil Social Institute invalid loans, it is necessary to consider alternatives other than the assignment of the fifth, such as personal loans. In this case, the signature of a guarantor, who may be a close family member, is essential.

It is essential to remember that the guarantor loans provide for the choice of a financially reliable third party, possibly a worker with a permanent contract. Furthermore, the guarantor must intervene only in extraordinary situations and cannot replace the beneficiary in the payment of the installments.

Invalid Social Institute: alternative guarantees

Invalid Social Institute: alternative guarantees

Another aspect to consider when discussing Social Institute civil invalid loans is the possibility of accessing credit using alternative guarantees.

Anyone who receives a civil disability check and owns a property on which there are no mortgages can consider the aforementioned as an alternative guarantee to the paycheck or traditional pension received thanks to Social Institute contributions.

The inclusion of alternative guarantees also includes the receipt of a divorce check and the ownership of share or bond packages. What should be remembered is that, in general, credit institutions tend to accept more requests from customers who present a paycheck as their main guarantee.

Loan changed 2017: that’s why it’s a good solution

Loan changed 2017: that

The last solution that can be considered with regard to Social Institute civil invalid loans is the changed loan. This product is congenial for the aforementioned category of customers as it allows access to credit without presenting a paycheck or pension.

In the case of civil disabled, the requirement to apply for it is life insurance, which must have been active for at least two years.

It is very important to specify that the loan in question is based on the repayment of executive securities which can be converted into money and which in all respects are configured as promises of payment.