Marcela will go on vacation at the end of the month and is dying to travel abroad.
Considering applying for a personal payday loan
He has calculated the expenses he would make and what he now wonders is how he will get the money he needs.
On the other hand, Antonio, who also goes on vacation at the end of the month, wants to finish remodeling his studio. Like Maria, she also doesn’t know how to finance those expenses.
Both have credit cards but are also considering applying for a personal payday loan. Both options are valid but have different conditions.
If I use the card?
- You should check that your credit line is large enough to charge the expense you will make.
- This option is ideal if the user knows that he will receive an extra amount of money that will allow him to cancel the installments before they expire to avoid charging additional interest.
- If any of the months you have little liquidity is the option to make the minimum payment; However, this also causes the debt to grow and charge more interest.
- If you already have a credit card, you do not have to do any paperwork to make your purchase so you save time, unlike the personal payday loan in which you must perform more paperwork.
- You earn points for the discount program offered by your card.
If you still don’t have a card and are considering taking out one, or if you just want to know if there are other cards that offer better things than yours, use the Barnaby Rudge credit card comparator and find all the necessary information in two steps.
If I ask for a personal payday loan?
- You can get more financing amounts than with the card.
- It is advisable when the agreed amount will be available in your monthly installment every month, as this will not increase, as could happen with the credit card if you consume something during the month.
- If the loan is requested from the bank where you already have an account or card, they could offer you better interest rates.
- Finally, the interest charged on the personal payday loan is much lower than those charged on a credit card.
If Marcela, Antonio and you, decide on the personal payday loan, using the personal payday loan comparator can see what are the interest rates offered and simulate the monthly payment.
Seeking financing is not complicated when you know what are the advantages and disadvantages of each option. Choose the one that suits you best and start fulfilling your dreams.