Choosing to make a credit is a decision that deserves careful consideration because a credit is primarily a commitment. There are many things to consider when considering a loan, including the reason for taking out this loan. This will also help to move towards a credit offer tailored to his needs.
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To finance all your projects, financial institutions offer more and more choice in terms of credit. Among these choices, we can distinguish between revolving credit and personal loan , two forms of borrowing that each have their own advantages.
In which case to opt for a revolving credit?
The revolving credit or credit opening is a credit often used by households who wish to obtain financing without the need to submit a proof of use.
This type of credit is especially characterized by its availability: the sum of money borrowed with a revolving credit is never paid to the beneficiary at one time, in full. However, a reserve of money is allocated to the subscriber, who can take money at any time, as long as his reserve allows it.
The subscriber makes his repayment when part of the credit has been used.
The monthly payments are deducted from his account, with the interest calculated according to the amount of money already consumed. The cash reserve is renewed as the borrower makes his repayments.
This type of credit is generally associated with the use of a credit card or a loyalty card to allow the borrower to have easy access to his or her cash reserve.