Consider the Following Things Before Applying for a Cash Back Credit Card

One of the advantages of using credit cards is that there are many discounted offers from several card issuers. But usually, these discounts do not apply all the time, the most frequent is when certain product promos, new merchant offers, or also before the holiday celebration. So, not every time you do a credit card transaction, you can get cashback or a discount.

If you want to always get cashback, there is good news

If you want to always get cashback, there is good news

At present, several credit card issuing banks have cashback credit card facilities. What is a cashback credit card? What are the benefits? And what should be considered if you want to apply for this cashback credit card? The full review below can answer your question above.

Because of the large profits and can provide cashback for every purchase, this one credit card product is increasingly being hunted by many people. But you should not rush to apply for a cashback credit card. Because although there are many advantages, there are 5 basic things that must be understood in depth like the following review.

Terms and Conditions Getting cashback

Before applying for a cashback credit card, you should first know the terms and conditions. Broadly speaking the terms and conditions for applying for a credit card that must be understood are, the amount of bank interest, what supporting documents must be prepared, minimum income for prospective cash back credit card holders, and annual fees.

By understanding the terms and conditions that apply, we will save time and energy when applying for a cashback credit card application.

Percentage of the amount of cashback per use

Percentage of the amount of cashback per use

Each credit card has a different amount of cashback from usage. Just choose the biggest percentage. This percentage affects the amount of money that can be saved every time a transaction. There are certain credit cards that provide cashback facilities for up to 25%, this can be one way to save money.

Minimum Transaction Limit for Cash Back

What must be recognized next is the minimum transaction limit that may be imposed. Each issuing bank has different provisions. For example, some provide a 25% cashback facility without a minimum transaction limit. But on the one hand, there are no price discounts.

Meanwhile, there are also provisions on transaction limits, for example, 6 million transactions for a 3% cashback, but provide a discounted price of tens of percent for betting transactions at certain merchants. the existence of this discounted price is one thing that really helps save money too. But keep in mind that the main benefit of a cashback credit card is the cashback requirement for each transaction anytime and anywhere.

The presence or absence of other benefits

bank

For the latter, this is actually the most important thing. Because what it means is we have a cashback credit card but it can’t be used in many places. Even if it has a large benefit in terms of the percentage, it must be known that some cash back credit cards also have limitations in terms of usage limits, sometimes some are not accepted by certain merchants.

Recognizing the five basic things before applying for a cashback credit card is important. Because then we will have enough stock before applying for a cashback credit card.

Take out an affordable mini loan?

Mini loan

Mini loan

The word “mini” says it all. A mini loan is a small loan. Usually up to a maximum amount of $ 1,500 per provider. This is very different from a revolving credit or a personal loan, where the minimum loan amount is just above $ 2,500. A mini loan is a loan that you usually have to repay within 30 days. There are a limited number of providers who maintain a period of 45 days.

The major advantage of a mini loan is that no BKR assessment and registration is done when these loans are granted. A mini loan is therefore a good form of borrowing money for people with a negative BKR registration. If you have a negative registration, a mini loan can really be a solution. Despite the high additional costs.

Inexpensive mini loan?

Inexpensive mini loan?

Are you looking for an affordable mini loan? Then you will soon notice that this is not easy. The rates that the providers of mini loans can charge are hefty, very high. If you also have the option of taking out a revolving credit instead of a mini loan, this may be a much better option for you. Or at least a much cheaper one. With a mini loan, the costs can add up considerably.

For example, if you want to take out a small loan of $ 500, you may well have to pay more than $ 60 in additional costs. With some providers it can be even crazier and you pay more than $ 100 in costs. Your loan then quickly becomes a very expensive loan.

Borrow money fast?

Borrow money fast?

Where in the past this form of borrowing money was really a very fast way of borrowing money, unfortunately that is no longer the case. The processing time for such a small loan can also take up to several days. Only if you are an existing client with a provider can you quickly have the money in your account. You can think of borrowing money without BKR testing within 10 minutes. And that is unique again.

Even if you have suddenly received an unexpected invoice. Whether there is an account that you really need to pay urgently. Incidentally, the providers of “ordinary” loans are almost as fast. You can sometimes get a revolving credit into your account within 24 hours. Provided you can deliver everything digitally, of course.

Taking out a mini loan, who is suitable for?

Taking out a mini loan, who is suitable for?

A mini loan is a small loan that is used regularly by many people. Many people see such a loan as really an emergency provision. A last resort. When all facilities are used up, the emergency provision is called. And this loan is also suitable for this. However, you should keep in mind that borrowing this form is certainly not beneficial.

It is not without reason that the AFM frequently warned against taking out this form of borrowing money. However, a mini loan can be a nice last resort. For example, borrowing money as a temporary worker. You can hardly go to any bank. Despite the fact that the regulator is not happy with this form of borrowing money, it can still be a real outcome for many people.

Mini loan without BKR assessment and registration

Mini loan without BKR assessment and registration

The nice thing about a mini loan is that it is always a form of borrowing money where there is no BKR assessment and registration. This is because the providers of mini-loans are not affiliated with the BKR. Because they are not affiliated, they cannot do BKR testing. And you cannot register BKR either. Not when taking out the loan, and not if an unexpected payment arrears arises on the loan.

Mini loan up to 1500 USD

Mini loan up to 1500 USD

With a mini loan you can borrow money up to an amount of 1500 USD. They call this a plus loan. This loan form is actually a slightly more extensive variant. With a “normal” mini loan you borrow an amount up to 800 USD. You must then repay this within 30 days. With the extended variant you can borrow up to 1500 USD. You will be paid this amount in one go in your account. You must then repay this in 2 installments. The first term after 31 days. This is approximately 45% of the amount you borrowed. And the second term after 62 days.