On many occasions, you have an unforeseen expense that you cannot cover with your usual income each month and you also do not have enough money saved so you are required to get fast money.
A car breakdown, repair or replacement of an appliance or anything else forces you to get extra financing to cover that certain unforeseen expense. But how can you get that extra money without borrowing too much?
Currently, in the market, there are many ways to get financing quickly and have the money in your account in 24 hours, at most two days.
However, it is not “gold that glitters” and, above all, each of the various types of financing is indicated for different needs and circumstances.
Here are some of the main ways to get financing quickly, explaining in each one its advantages, disadvantages and what needs it is focused on. This way you will know which option to choose depending on your needs.
I do not roll up anymore and we go to the heart of the matter.
Online lending companies bad credit can get you cash today in minutes
One way to get fast money is to apply for a bad credit loan online. It is the way in which life-long financing has been obtained.
Its main advantages are that, if you are granted credit, the interest rate is the lowest of all options, especially if you have more financial products contracted in the entity.
Its disadvantage is that its dealer is not precisely fast. You will need a lot of paperwork, risk studies by the bank and others, which can take weeks.
In addition, at present, banks do not grant loans with great generosity so it may be that after all that time it turns out that they do not give you the credit you have requested with what you have lost time that you will no longer be able to recover.
If this is your preferred option, don’t forget to check out Smike’s personal loan comparator. Surely you find the credit you are looking for.
Options to get fast financing
Who doesn’t have a credit card? It is really difficult to find someone who does not own this plastic tool. It is even very common to have more than one.
Credit cards are one of the easiest and fastest ways to get fast money since having a credit card is if you had already applied for a loan and had been granted it.
Simply, make the payment with the credit card and postpone the purchase to pay it comfortably during the following months.
When are you interested in using a credit card?
A credit card is ideal for cover unforeseen expenses urgently due to its immediacy.
However, it has the disadvantage of its high-interest rates ranging between 18% and 24% in most cases, so it is not advisable to use it frequently, only at specific times.
It turns out that you don’t have a credit card? Right here you can compare some of the best credit cards on the market and hire the one that suits you best.
Microcredits and Fast Credits
Another option of express financing ideal to cover extraordinary expenses are microcredits and fast loans.
Microcredits and fast loans are very similar financing products although with important differences. There are 3 main differences that you should know between these financing products:
– Microcredits finance amounts between € 50 and € 600 while amounts of fast loans are between € 1,000 and approximately € 6,000.
– The microcredits grant you almost at the moment, virtually no documentation is necessary. Fast credits are a bit slower, but never more than 24-48 hours.
– Micro credits have much higher interest rates than fast loans. A quick credit has an interest rate very similar to that of a credit card.