What could be wrong with fast credit ? At first glance, nothing. In fact, they are the ideal tool when an emergency appears, since it allows access to the money that is needed in some cases in less than 24 hours and overcome the anguish it causes us.
However, like any financial tool, it must be taken carefully
The main point to consider when it comes to fast credit is the interest rate. The ease in obtaining it comes with a price: We speak of a high rate, which in some cases can even double the amount requested. But that is not the only point to take care of.
Something to keep in mind is that many times on the web they show you the amount that is generated by the interests, but to that you must add, in some cases, commission costs, use of the web portal, insurance, etc. Although it is a fast loan, some of the companies usually include these charges.
On the other hand, another point that you should not forget is that in some cases the interest may be “zero”, because it is the first loan. But if, confident in the dynamics, request another loan, you will see that the cost is much higher.
Not all entities have the same time for credit repayment
While some only give you 30 days, others can grant you up to triple. But remember, more time, more interests. The best thing you can do to make sure you choose correctly is to evaluate if you really need the money, how much you are looking for and compare the available alternatives. Where to see it?
In this article
We will focus on very specific aspects to help you make the decision to reaffirm this important and key decision for the finances of your business. Let’s see:Ease of payment representation expenses. If your company is usual to leave the country or travel to the interior of the republic to visit customers or close negotiations, a business credit card will serve, for example, for the payment of travel expenses for lodging, transportation, food, which will run through part of the company. This is very beneficial because it facilitates the management of expenses since an ordered digital record is created. Good control of accounting .
By having an account statement that reflects the expenses incurred, it is possible to break down all the purchases that were made, with which supplier they were produced and their respective values. Being in the name of the company, the collaborators will not be forced to mix their own funds, which is a complex and tedious process. A commercial solution A business credit card will support you in purchases from suppliers, as it has an implicit insurance package, which are fundamental to any unexpected circumstance – such as a death or a travel accident. The advantage is that the risk is assumed by the bank. It should be noted that you must manage insurance coverage against theft or fraud.