Although until recently the quick credits were complete strangers, in recent years they have come to Spain to stay. The advantages offered are many: get money fast, without changing banks, in 15 minutes and without paperwork. However, mini-credits in general are more expensive than a bank loan, having to pay for the speed service of the company that grants the credit. Choosing between loans or quick loans is not always easy.
Loan or quick credit: what is better?
Speed: Mini-credits can be obtained in less than 30 minutes: you just have to fill in a form, send the documentation and, if the credit has been approved, wait for the transfer. To ask for a loan you have to go to the bank usually more than a day and wait for several procedures. Also, the answer is usually not immediate.
Price: The interest on quick loans is much higher than on loans. The cost of a mini-credit of € 100 to 30 days is usually around 30 euros. However, by having such short return periods (maximum 30 days), the costs are usually reasonable. In addition, microcredit companies do not usually charge commissions or force the hiring of linked products. Their products are very transparent, since it is always clear how much you are going to pay from the beginning.
Facility (concession): The companies that grant mini-credits, when giving small amounts, tend to be less demanding in the requirements, so it is easier to get them. Having a loan at the bank while at Financial Credit Institutions is impossible, while microcredit companies do offer loans with Financial Credit Institutions.
Situations in which we may need loans or quick credits:
Banking Discovery: Banking discoveries are one of the most expensive commissions we face, to which we must add the interests. If we know that we are going to delay payment of an invoice
Repair the car: In this case, we will choose between loans or quick credits according to what the money urges us. If we use the car to work or we need it in our day to day, we will go to the online mini-credits. If we can wait a bit and the repair is going to be very expensive, we will opt for the loans.
Pay a traffic ticket: If we pay the fine in advance we can save a lot of money, so going to a quick credit can be very important in this case.
Buy a whim: In this case we can choose between loans or quick loans, although the loans probably come out cheaper. If we can not wait to have the last iPhone or it’s a gift, we can request a mini-loan.
In conclusion, when choosing between loans or quick loans online we will have to see analyze our priorities. If it is possible to wait and if we want to save on interest, better loans. If what we need is urgent money or we do not want to deal with the bank, mini-credits are a better solution.