Month: November 2019

Amount of credit: how much to ask, how not to be wrong?

by Clint Cox
The amount of credit is a key component of a loan application. We will see how to increase your chances of obtaining your credit at the desired amount, thanks to a comparator with an immediate response. Everything you need to know about the conditions to get your credit at the desired amount.

Amount of credit: what the law says

Amount of credit: what the law says Legally, a consumer credit cannot exceed $ 75,000. A substantial sum, allowing to carry out all kinds of projects. Most of the time, credit organizations and banks limit their personal credit simulations, work loans or other car loans to $ 75,000. The repurchase of credits makes it possible to combine several credits for a total amount greater than $ 75,000, depending on the applicant's situation. The amount of a home loan is meanwhile no fixed limit. In fact, the most requested amount of consumer credit is rather around a 10,000 USD credit. Good to know: the amount of revolving credit (or small credit) is limited to 6000 USD. Beyond this amount, it is always to a personal loan that we must turn. On our comparator, any request lower than 4000 USD offers the best revolving credit offers, based on the couple rate / small monthly payments.

How to get the best rate for each amount?

How to get the best rate for each amount? Our credit comparator provides a ranking of the best APR rates for each loan request. The minimum credit amount is a 1000 USD credit, whatever the project. The maximum amount is 70,000 USD for a car or work loan, two projects for which the sums can quickly take off. Regarding the personal loan without proof of use, its maximum amount is set at credit 30,000 USD on our comparison. Example of the first step of our comparator. It is a question of informing your project, the amount of credit and the duration. Five minutes and a basic questionnaire later, the classification of the best rates according to the criteria indicated is proposed. The duration of credit is also an important criterion. A shorter duration generally results in better APR rates. On the other hand, it implies higher monthly payments. The desired amount of credit, as well as the duration, will impact the rate and the monthly payments. This is the reason why it is important to estimate your need for money as accurately as possible before embarking on a simulation. Asking too much will generate more interest and / or higher monthly payments. Too low an amount can however cause some problems in the realization of his project. Whatever the amount, finding a loan without a permanent contract is more complicated.

The best credit for each amount

We carried out dozens of simulations involving different amounts often requested, in order to see each time the importance of going through a comparator. Here are several examples of specific amounts passed to the revealer of our comparator.
  • Credit 1500 USD
  • Credit 5000 USD
  • The 8000 USD credit
  • Credit 20,000 USD
The best way to get an evaluation of the best rates for the amount of your choice is to perform a simulation on our comparator. Good to know: when the exact amount of the project is known, it is smarter to choose the exact amount closest to our comparator, by rounding up. It will be possible to adjust the exact amount in a second step with the organization capable of providing a favorable response.