Financial Tips on Credit

The clip introduces the four most common types of credit. Most are familiar with the installment loan : You repay the borrowed money in fixed monthly installments within an agreed term. This can be useful for all types of purchases, and you also know exactly when the installment loan is repaid.

The line of credit, and overdraft, depends on the income. It enables the current account to be overdrawn at a level determined by the house bank. Overdrawing your account permanently is not recommended, if only because of the comparatively high overdraft interest.

With a line of credit, the bank provides a specific credit line available. You can decide how much and when to call. Interest only accrues on the sums that you actually call – but always at the current interest level. This makes a credit line more expensive and more difficult to plan than an installment loan, but it offers short-term liquidity.

The credit card is a kind of short-term loan and makes unlimited payments possible. The current account will be debited later, usually collected at the end of the month. With some cards, payment in installments is also possible.


How does an installment loan work?

How does an installment loan work?

Our video shows that an installment loan can help you keep an eye on your own finances. At the conclusion, you can decide for yourself whether you prefer to choose a lower rate and a longer term or a higher rate with a shorter term. The interest rate is agreed upon for the entire term. The fixed installments make it clear from the start when the loan is paid off.

If you have an additional amount left over, you can use special payments to shorten the loan term and even pay off the loan faster than originally planned.


What do I need to apply for a loan?

apply for a loan?

The video explains how easy it is to apply for a loan and what documents and requirements are required. At CreditFlash you can submit your loan application online, in one of our branches or through our dealers. After you have determined the loan amount and a suitable term, you will receive a non-binding loan offer from us. If you are satisfied with the offer, please send it back to us signed – together with the necessary documents, such as payroll and bank statements.


Credit knowledge in a few minutes

credit loans

Our clips give you a quick overview of credit. Please watch the videos with sound or switch on the subtitles so that you receive all important information. Have fun watching!