Month: March 2019

What is score and why it can be important at the time of the loan

If you ever needed, or still need, a personal loan or financing, you’ve probably heard of Credit Score . But what is score ?

Credit score , in general, is an analysis done by financial institutions. It serves to know what your ability to repay a loan or financing without default.

How is the score calculated?

How is the score calculated?

The score takes into account your financial profile. In it, enter the monthly income, history of debts, civil status, if you are employed at the time and also your consumption habits.

After that, a punctuation with its aspects is made. This score goes into a measuring ruler from one to 1,000. The higher your score , ie your score, the higher the chances of you getting a credit authorization.

See the table below and better understand what a score is as assessed:

It is worth mentioning that each company has its credit approval policy. So even with the chart in hand, check with the institution directly if your score is sufficient to open credit and what conditions will apply.

Want to know more about it? We made a video to show how the score works and how to improve yours.

How to consult the score?

It is important to be aware of what your score is before you plan for a loan or financing application. This can help you organize and improve the aspects that influence your score.

Therefore, companies such as Boa Vista SCPC and Serasa perform this free consultation on their digital platforms, from the registration of their personal and financial data. Other companies also provide this advice, but there are costs to check.

Keeping your information current on these platforms can help you understand the best time to apply for a loan in the market. That’s because these queries are dynamic. Once registered some of your movements will cause your profile to be updated, and your score is changed, or not. If you are a partner or owner of a business, for example, and you are having financial problems, your score is likely to be down.

My score is low, now what?

The probability that some company will release credit for you is very low. As we have already said, ensuring your debt compliance is compromised.

But there’s still a way to reverse it! There are some ways to increase the score. P agar bills on time, clear the name in the market and pay off arrears, can help.

As you can see, score is the reflection of your financial image for institutions and companies. So keep an eye on your finances!

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Consumer Loan Calculator: online loan simulation

What is a consumer credit calculator?

When you want to subscribe a consumer credit, whether for a car loan or motorcycle, a work loan or personal credit, it is necessary to prepare his project upstream to find the best solution William Boldwoodment.

A consumer credit calculator is a tool, offered by many credit agencies, that serves this purpose. This is an online credit simulator, which allows you to define key elements such as the budget, ie the amount you want to borrow, the duration of the loan or the amount of monthly payments.

Why use a credit calculator?

Not always easy to embark on a search for credit conso. The consumer loan calculator is just to help you get a clearer idea of ​​how you might find a consumer credit. Thanks to the calculation of consumer credit, you can estimate very easily:

  • The total amount of your credit, that is, the amount borrowed and interest;
  • The amount of the monthly payments that you will have to repay;
  • The total duration of the credit ;
  • Credit interest rates (the borrowing rate and the annual percentage rate of charge, or APR).

By subscribing to a consumer credit, you sign up with a credit institution, sometimes for several years. Using a credit calculator conso allows to prepare well his project and to approach it serenely!

Online consumer credit calculators are free and fast! It is therefore very easy to find William Boldwoodment solutions adapted through online simulation.

How to use the consumer loan calculator?

To use a calculator and simulate its consumer credit, simply go online, on a site offering this service. At first, you have to fill in some information necessary for the calculation and in a second time, you access the results.

Fill in the fields of the credit calculator

The first step in calculating your credit is to fill in some basic information about your project. Generally, consumer loan calculators ask you to fill out the following fields:

  • The nature of the project : auto credit, motorcycle credit, work credit, personal loan…;
  • The loan amount ;
  • The duration of the credit or the amount of monthly payments you would like to pay, taking into account your borrowing capacity;
  • Possibly your personal contribution.

On some sites, sliders make it even easier to fill in this information.

The results of the credit calculation

Once these elements are filled in, the tool calculates automatically and in a few seconds only the conditions under which you could benefit from a William Boldwoodment. You get an estimate:

  • The total cost of your consumer loan (amount borrowed + interest);
  • Credit rates (debit and APR rates);
  • The amount of the monthly payments that you will have to repay or the total duration of the credit conso.

Attention, as the calculators generally specify, the simulation of credit conso has no contractual value. This means that as long as the conditions that are estimated for you have not been honored by a credit institution, they are not vested.

Consumer credit calculation and insurance

Better to have in mind to prepare his project: the consumer credit calculator does not generally take into account the borrower insurance (or loan insurance), and submits a total amount of consumer credit excluding insurance. The calculators most often do not include these costs in their valuation because borrower insurance is optional. Everyone has the freedom to decide whether to subscribe or not.

Compare after simulating his credit consolidation

The consumer credit calculator is also very useful for finding the best deal! Once you have estimated your repayment terms, you can compare consumer credits to find the best deal. By going on a comparison of credit conso like William, you reach in just a few minutes to quote and just have to opt for the most advantageous loan offer before being put in contact with the bank or organization to apply for a loan.

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