How to get revolving credit at low rates, which door should you knock on? Reminder of the main principles of revolving credit, comparison of rates and immediate response in principle with a few clicks.
What is revolving credit?
Revolving credit is usually associated with a small project. Its amount rarely exceeds the 3000 USD credit. Here are its main features:
- Amount: small credit 500 $ to 4000 $ (rarely more)
- Duration: 6 to 36 months in most cases (maximum 60 months)
- Credit without proof of use
- Cash reserve available at any time
- Revisable APR rate
- Early repayment possible without any penalty
The law indicates that any revolving credit whose amount is lower than 3000 USD cannot be reimbursed in more than 36 months. This measure aims to limit abuse as much as possible. It must be said that if this credit is flexible, taking advantage of the reserve of money available at any time, its rates are important. We will however see that, again, the law allows a maximum authorized rate to be fixed.
Note: revolving credit without proof of use does not in any way mean that documents must not be provided. The list is however less restrictive than that of other types of loans. Online revolving credit is reputed to be the “easiest” consumer credit to obtain.
Who can issue a revolving credit at low rate?
Online credit organizations have a monopoly on low-rate revolving credit. Some banks offer small credit solutions, but our different simulations show that the rates are often much less attractive. Above all, the banks only offer the revolving loan to their customers. Online credit specialists have a credit solution for everyone. However, they do not always offer attractive rates on all amounts and repayment terms. It is precisely for this reason that our credit comparator was born.
Revolving credit, a loan at revisable APR rate
The revolving credit is associated with a revisable APR rate in non-fixed. It is the only type of credit with this feature. The annual effective annual rate revisable indicates that it is likely to change over time. This is particularly the case when the credit money is reused, as part of an express transfer. The rate may in this case be different from that obtained when the contract was first opened.
The maximum rate of revolving credit
Revolving credit is associated with a maximum authorized rate, like any consumer credit. This is the wear rate. Defined each quarter by the Astro Finance, it aims to prevent abuse. This type of credit has indeed suffered for a long time from a bad reputation. It is now perfectly framed.
Any holder of a revolving credit receives monthly statements from the lending organization when he uses his money or has outstanding amounts. A letter to extend the credit agreement is also sent each year. A change in situation may involve the suspension of credit, at the decision of the organization. It is in any case difficult to miss the conditions of its revolving credit.
Comparison of revolving credit rates
You should know that revolving credit rates are sometimes very different from an organization. They also evolve according to two main criteria:
- The amount
- The repayment speed (or duration)
We simulated a 1000 USD credit in a renewable formula, in order to properly measure the possible differences between several specialists. We compared the offers * of a large number of the best known organizations, seven in total. Some do not all offer to choose exactly the repayment period, preferring to opt for repayment speeds. We therefore chose to compare on the basis of the credit closest to a repayment period of one year (12 months).
Revolving store credit, low-rate loan?
Revolving credit can in some cases be obtained in stores. Some brands offer to take out a small loan to finance certain purchases over periods of more than 90 days. The revolving credit of Astro Finance is the best known. Please note, however, that the available money can be reused at a significant rate. The revolving credit rate is however always communicated for any credit purchase with a revolving credit card or a simple request for immediate transfer.
Method for obtaining a revolving credit at low rate
Our credit comparator gives access to the best revolving credit solutions. The system has been developed to pr
- The best APR rates
- Organizations accepting the most applications
This double criterion makes it possible to avoid being faced with a refused credit. Small projects can rarely wait, and there is nothing more frustrating than submitting studied and then refused applications. Our experience allows us to immediately interview the best specialists, and to obtain an immediate low-rate revolving credit opinion. Here’s how to do it:
- Enter a need of 4000 USD or less on our comparator, the repayment period, before going to the next step.
- Complete our credit questionnaire in four simple steps (without obligation).
- Our tool takes a tour of the APR rates offered, and inquires about the chances of receiving a positive opinion without unpleasant surprises.
- The proposed classification takes into account the rate, but also the chances of receiving a favorable opinion.
- The credit organization suggested first confirms the request by email within 24 hours, with a contract proposal.
Our credit questionnaire is not engaging. The goal is to find revolving credit at low rates, but above all to get a proposal without delay.