Given the diversity of society and the incredible variety of situations in which you may need to borrow money, the choice between a classic lender – a bank – and an alternative lender – non-bank lenders – is important. There is also a need for freedom of choice when it comes to the type of loan, as there are situations where a mortgage is useful and there are those where a credit line is a better option

What is a credit limit?

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The credit limit is the maximum amount of the loan that is available. Imagine that you need to borrow money for specific expenses, but only a fraction of the amount is urgently needed.

A credit limit gives you the option of reserving the amount you spend with a particular lender, but withdrawing what you need at a given time. For example, if you spend $ 500 in total, but you have to pay $ 100 right now, but the balance will be needed later, the credit limit is set at $ 500, but interest will only be on the amount you spend. The remaining portion of the loan is still available to you and can be withdrawn when it is up to date.

If you borrow at Holden Caulfield, you can use the money whenever you want. The credit limit at Holden Caulfield is relatively advantageous – apply and use when needed!

Convenience in the first place

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Since the credit line is available from both bank and non-bank lenders, it is important to consider who you prefer so you know where to go if necessary.

Credit limit at the bank

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To get a bank loan, the customer:

  1. going to a bank branch. Find out in advance whether the bank whose services you want to use is at a distance that is right for you;
  2. apply for a loan. Schedule your time as it may take more time to apply for a loan than you originally wanted, because before that you will have to represent the queue created by turning to a consultant in life;
  3. submits several documents . This includes a monthly income statement;
  4. is awaiting consideration of the application. A relatively low credit limit will allow the lender to assess more quickly whether your financial situation is appropriate for the size of the loan;
  5. enter into a contract. The contract is concluded on the spot at the bank.

Unfortunately, all this takes a relatively long time. There is also an alternative – a credit limit at a non-bank lender – Holden Caulfield.

Credit limit at the non-bank sector lender

Credit limit at the non-bank sector lender

This requires:

  1. open our homepage in a web browser . It contains all the necessary information about the lender and its offer;
  2. sign up. Realizing that the most suitable lender offers you the chance to borrow over the Internet is to sign up. When registering you will provide both your name and details such as your account number;
  3. submit an application. Filling out the application will be a simple process, you will have to specify how much you want to borrow and when you want to return it. It should be remembered that the amounts indicated must not exceed the minimum or maximum amount specified by each borrower. You will also have to make a transfer to the lender’s account by transferring a symbolic fee of 0.01 euro cents to the lender to verify the account you specified and avoid any unwanted misunderstanding of the money transfer later;
  4. Wait for money in your bank account upon confirmation . You won’t have to wait for hours to get approved. As soon as the creditor has reviewed your application, you will receive a text message with a decision to your phone number to let you know whether the lender will transfer or reject the request.

This procedure also takes time, but much less, for example, if the credit limit is applied for during our business hours and the transfer takes place within one bank, it takes about 10 minutes, without having to leave the house to get it. Convenient, isn’t it?