Revolving credit is a loan allowing you to have a reserve of money available at any time. Generally less than 3000 USD, it is practical to finance a small project or manage an unexpected. We will however see in this credit simulation that not all offers are good to take. Revolving credit simulation and method for obtaining an immediate response at the best rate.
What is revolving credit?
Revolving credit is a loan, the amount granted is replenished with each repayment. The “available” balance can be used at any time. However, the rate applied in the event of express reuse may differ from that obtained the first time. Revolving credit is generally a small credit (500 $ to 4000 $) to be reimbursed in less than 3 years (36 months). Its particularity therefore lies in the possibility of reusing the available money, by requesting an immediate transfer at any time. An operation that takes place without any delay or additional proof. This small credit is very flexible to use. It is also reputed to be easier to obtain than any other credit (see personal loan simulation or even car credit simulation).
Its ease of obtaining is contrasted by an often high APR rate. The rate may also be different if the money is reused, depending on the conditions of the contract. This is the reason why the rate mentioned on the contract is an adjustable and not fixed APR. Any request of 4000 USD or less made on our credit comparator directs to a simulation of revolving credit.
Who offers it, what are its advantages?
Revolving credit is offered by a large number of large credit organizations. Some banks also have solutions. This small credit is also offered in many department stores, in the form of a loan allocated to a specific purchase (high-tech, decoration, DIY, etc.). The store credit is in this case managed by a partner organization. It can also be combined with a credit and loyalty card. For our part, we will focus our comparison on an online credit simulation.
Benefits of revolving credit
- Money available for express transfer in case of urgent need.
- Possibility to prepay without any penalty.
- Credit request more easily accepted than for any other consumer credit (personal credit, car credit, work loan).
- Sometimes associated with a revolving credit card.
- Revisable credit rate (APR revisable) and higher on average than another consumer credit.
- Risk of indebtedness when soliciting money to repay another debt.
Revolving credit simulation
We carried out a revolving credit simulation, taking a credit base of 1000 USD. This revolving credit simulation integrates all the largest organizations offering online loans.
Methodology: organizations sometimes operate with repayment speeds to carry out a revolving credit simulation *, we have always selected the repayment duration that most closely approximates a repayment in 12 monthly installments (1 year).
Our revolving credit simulation shows great disparities between several offers. Using a consumer credit comparison is essential in the search for the best credit.
Revolving credit simulation: how to get a favorable opinion?
A simple revolving credit simulation makes no sense without having an idea of the chances of receiving a positive opinion. Our credit comparator allows you to obtain an immediate opinion without obligation. Here are the steps to move from revolving credit simulation to obtaining money.
1. Indicate an amount less than 4000 USD on our credit form. Any request below this amount leads to a revolving credit simulation.
2. Complete the four simple steps of the questionnaire (without obligation).
3. Our revolving credit simulation classifies the best organizations according to the quality of their APR rate, but also takes into account the chances of receiving a positive opinion.
4. In the event of a revolving credit simulation leading to a proposal (acceptability> 50%), a confirmation email is sent within 24 hours.
5. All that remains is to send the supporting documents and return the signed contract to obtain the funds (minimum 8 days, see the law).