When you have urgent needs and need loan funds, often someone is confused to seek financial assistance. The choice that can be made is to take a loan at the bank, for example in the form of a credit card. But what is the right choice, should you apply for a credit card ? Actually there are several considerations that you can consider, starting from the amount of interest, the purpose of using the funds, and the length of tenor you want to take. Check out more here.
Credit cards may already be a very popular plastic card used. Many credit card holders use it to finance funds, even for shopping. The first characteristic of credit cards is the high interest rate, the average interest charged in each bill is 2.95%. Of course interest must be taken into consideration because the amount of bills every month can increase due to these factors.
Submission of credit cards is also easier, you only need to meet requirements such as:
- KTP / SIM
- Payroll slips, it is necessary to know that the minimum fixed income needed to apply for a credit card is Rp. 3,000,000, – the maximum ownership is only 2 credit cards. (Source: Viva News )
- Minimum age of 21 years and fill in the credit card application form
Even so, usually banks will also still see your credit score through the historical IDI to determine whether you are eligible for a credit card or not. When applying for a credit card, you also have to pay attention to some additional fees that are also paid for, for example, annual fees ranging from Rp. 200,000 – 300,000. As much as possible, don’t be late in paying credit card bills. There are late fees that must be paid, which of course can affect your bill. The point is to pay attention to the costs on a credit card before deciding to apply for a credit card.
Credit cards themselves also have many types, such as credit cards that collaborate with airline brands, supermarket brands, and other brands. Each form of collaboration can provide each of your benefits. Therefore, you must understand what the purpose of using the credit card is. For example, if you often travel with one particular flight brand, it’s a good idea to apply for a credit card that works together so that you can get mileage that if collected can provide free / discounted flights for the next flight.
Another option that can be taken is by applying for credit card. Credit cards is useful for those of you who need cash more. As the name implies, of course you don’t need to pledge assets to get , so the process is easier. Usually funds can be disbursed immediately in less than a day, of course the bank must first check whether you are competent enough to get the funds. itself is usually used for large funds that must be paid in cash, for example for payment of school fees, wedding expenses, business development, etc. However, we strongly don’t recommend using to start a business .
Here are some data and documents that must be prepared when you want to apply :
In applying for a loan, usually the bank will ask you to prepare some of the documents below. This list is only a reference for you, because each bank will certainly have different requirements.
- The completed application form
- Copy of ID card
- The last salary slip, if you are an employee
- Copy of savings account
- Photocopy of NPWP
- Copy of SIUP / TDP / SITU / Practice Permit if you have a business
- Copy of credit card if you have a credit card that has been active for at least 1 year
The interest charged in also tends to be lower than credit cards. In usually the applicable interest is in the range of 0.99 – 2%, lower isn’t it? Another advantage of is the tenor of loans that tend to be longer. You can repay up to 60 months or about 5 years.
So, which one?
Basically before you decide to apply for a or credit card, it’s a good idea to take into account carefully. Which type of loan is suitable for your current needs, which interest rate you can afford to return, whether the funds are needed in an emergency and must be in cash or not. Apart from all that, you must know exactly whether in the future you will still be able to pay the second bill, because if you are in arrears of course you have to deal with a debt collector.
However, if at any time you have a credit card / debt in arrears, now there are companies in Indonesia who can help you negotiate your debt, so you can get a payment break. If you need more information to negotiate credit card / credit card debt that still hasn’t paid off, please click the picture below to get a free consultation immediately.