Unexpected releases, home renovations, starting school … Despite some good advice on interest-free loans, sometimes it can happen that we need to stretch our credit card beyond our credit line. What to do: Ask your bank to raise your credit line or try another bank?
First of all, decide for what purpose you want to use the loan!
If you are looking for a specific purpose and would rather pay it back in installments, we definitely recommend a personal loan or overdraft facility because they are cheaper in terms of interest and cash. If, on the other hand, you only need money for a short period of time, which you would rather do with card purchases, then quickly pay back in one or two installments, or just want a spare, you might want to get regular discounts on card purchases. choice.
These also apply if you already have an overdraft or credit card but would like to increase your credit limit. Especially when fast. Let’s see what you can expect!
Applying for a new overdraft
you usually have to wait 3 months for your bank to start earning regular income. In any case, you will have to earn a salary during these three months, no other item credit will be counted in the frame rate, and it is also important that you do not have to pay any bank fees! Banks will continue to check regularly whether wage income continues to accrue on your account, so you should not transfer your payment quickly to another bank account after you receive your overdraft to apply for an overdraft there. You can get an overdraft very quickly, usually within a few days to a few hours, without any form of certification, and have instant access to your existing credit card on your overdraft. Keep in mind that if you apply for an overdraft and a free cash withdrawal at the same time, the bank will be required to provide the bank account free of charge up to $ 150,000 in case of overdue debt. Banks usually give you credit lines up to the amount of income you have in your checking account, since repayment is guaranteed by your regular income.
Increasing the existing overdraft facility
it is usually possible if your income is higher than your current limit and you do not have an automatic credit enhancement agreement that increases (or even reduces) your existing credit line in proportion to your income. You will receive an answer soon if you inquire about your account management account or call your bank’s customer service. A consultation is definitely worth it.
When applying for a new credit card
in fact, you are completely free to choose a credit card, which can be helped by the BankRacija.hu credit card comparator a . It doesn’t matter if you ask for the credit card at the bank that has your account or where your payment is coming from. If you feel you want to try another bank that you can cancel at any time (repaying your debt), then feel free to apply for a credit card wherever you want! However, in this case, you have to take into account that you are a new customer at the new bank, they do not know you from your account history, so you must fully obtain the documentation required by the bank and meet other bank conditions, or your credit card will be rejected. The bank application form should not withhold any of your bank loans, as they will not only see your current account statement repayment, but they will also be able to ask for your bank loans from the positive debtor list. If the credit assessment is successful, then you just start ordering the card production, which takes an additional 1-2 weeks, plus mailing, and if you do, you even have to activate the card. Therefore, it is advisable to apply for your credit card at least one month before applying! Since your new bank will also see your overdraft from the positive list of debtors, it is unlikely that you will get a higher credit line from a foreign bank than your own bank, unless that bank gives you more business credit than your current bank. However, unlike an overdraft, this line of credit can double or even triple your regular income, and even with an existing overdraft, you can earn more than your monthly income.
Raise existing credit card limits .
This is the hardest thing, but not impossible! Always think that the bank will only give you a raise if you can convince yourself that you are a good debtor and that you can repay a higher credit line. So be prepared that you may need to present new documents and, of course, look closely at your repayments so far. Since your credit card does not have to be fully refunded at the end of the month, your repayments will only be examined for the minimum amount, but you should always pay at least that amount exactly by the due date. Any slip, even if it’s 1-2 days, is definitely a bad point! Since credit card credit raises do not require new card production, you can get an answer soon enough to extend your existing overdraft credit line, but in a much shorter time than applying for a new credit card. Finally, you should know that there are banks that automatically increase their credit card credit line to their good debtors, as long as it is justified and the debtor pays on time.