- ✓ Suddenly need a lot of money …
- ✓ Considering a card loan
- ✓ I have no idea what kind of service it is …
Many people wonder what a card loan is and what it means to use it.
If you’re worried that it’s okay to use it, this article will help you build up your card loan knowledge.
What is a card loan?
A card loan is an unsecured loan for individuals.
Some loans require collateral, such as real estate mortgages and reverse mortgages, while others do not, but card loans are the latter.
Also, no guarantor is required.
The use of borrowed money is limited with purpose loans such as education loans and car loans, but in principle the use of money borrowed with card loans is free.
Another feature is that you can repeat borrowing and repayment as many times as you like within the usage limit, which is different from lump-sum loan type free loans.
There are two types
The types of card loans can be roughly classified into two types: “bank card loans” and “consumer finance card loans”.
The characteristics of bank card loans are that interest is relatively low and that you can receive various services (interest preferential treatment, overdraft, etc.) by linking with the bank account you use for your daily life.
The characteristics of consumer credit card loans are that the flow from examination to loan is fast, and that they are linked with each bank’s Internet banking and convenience store affiliated ATMs.
Many people feel uneasy about borrowing …
Those who borrow money for the first time may be worried about using a card loan.
However, if you understand the flow of card loan application, examination, and actual borrowing, how it works, and points to be aware of when using it, you do not need to worry too much.
Card loans are a highly convenient product, but their operation is carried out according to basic rules, and if they do not deviate from those rules, they are not one of the tools that can make life convenient. Is it?