Do you think healthy credit does not exist? That every loan is bad? You know that you may only think so because you only know the most traditional lines of credit. Those that do not request document analysis, do not take into account the percentage of indebtedness, do not require collateral and, therefore, charge very high interest.
But have you ever wondered if you could trade all these high interest debts for a cheaper one? Where the parcels fit comfortably in your pocket and left more money to invest in your business, travel through your neighborhood business, travel, and maintain a healthier family budget? For this is conscious credit.
Why credit is healthy
- Lower interest rates
- Longer payment deadlines
- Trading expensive debt for cheaper debt
Property as collateral
In setting the interest rate on a loan, banks or financial institutions take into account two factors: default risk and transaction costs. The less guarantee, the more interest!
That’s why it’s so easy to raise the credit card or overdraft limit, for example. But at what price! The cost of this, most of us know very well: credit card revolving interest can reach 795% a year! It is a lot of money!
In the case of Credit Guaranteed Property – recent in the Brazilian market – the well placed as collateral reduces its interest rate to 0.99% per month, in the case of Pickcredi. This security is the explanation for the bank to charge lower interest, as it may seek compensation in case of non-payment.
Hire a healthy credit
But despite being the safest and most indicated credit line by the financial market; Despite lower interest rates and longer repayment terms, when it comes to pledging the property as collateral many people think, “The bank or the financial institution wants to take my home.” In fact, it is just the opposite.
Your house or apartment is the same as the net for the trapeze artist: he wants to have it there as a guarantee, but he doesn’t want to use it. After all, who offers you the credit is a bank or a financial institution, not a real estate agent.
Although it offers some analysis differentials that facilitate access to credit – such as the combined income analysis (Corporate and Individual) – the maximum commitment of income with loan installments is one of the most analyzed criteria in this modality.
Following financial market guidelines, a maximum of 30% of household income should be committed to the repayment installments of a loan or financing – a percentage called healthy debt.
Thus, CGI has a much lower default rate than other popular but also much more expensive lines of credit (such as overdraft and credit card, for example).
We are a fintech, not a real estate
Banks or financial institutions, whether traditional or fintechs, have no interest in you not repaying your loan installments.
This is because the process of ownership of the property is very costly and very high. So it is the last option for the lending institution and she will do everything before turning to her.
The Best Credit Option
With healthy credit, you can pay off debt, invest in your company’s working capital, start your business, or help maintain a healthy family budget.
Make a simulation, evaluate if the installment fits your budget and if it will not compromise your income in the long run.
If you find that the transaction fits your budget, be sure: this is your best alternative to borrowing.