Take out revolving credit
Borrowing money in the form of revolving credit is still preferred by a large part of the Dutch. Taking out a revolving credit can be a good option if you want to be flexible with your loan. If you want to be able to redeem without penalty and if you want to be able to make withdrawals from your credit. Taking out a revolving credit is a good choice if it is difficult to determine how much you need in advance. Or if you just want to keep money on hand.
Borrowing money in a flexible way
As you can see from the above, a revolving credit is an extremely flexible form of borrowing money. Taking out a revolving credit makes it possible to always keep money on hand up to your credit limit.
As long as you have not reached your credit limit and you have no arrears on your loan, you can continue to withdraw from your loan for a long time to come.
The risk of always withdrawing from your loan is that you continue to pay on your loan for too long. Therefore, always make sure that you also continue to make repayments on your loan.
Points of attention when taking out a revolving credit
If you want to take out a revolving credit, there are a number of things you can take into account. Of course, a revolving credit must match your wishes. Brings the credit what you want and what you need.
To ensure that you do not pay too much for your revolving credit, it is important to pay particular attention to the interest rate. The lower the interest you can charge your customer, the better it will be for you in the end. After all, you will then have to pay less in interest.
If you apply for a revolving credit at Credit Competitor, we will in any case immediately get to work for you to ensure that you can take out a revolving credit at a low interest rate and favorable conditions.
Take out risk with a revolving credit
There is really only one major risk when taking out a revolving credit. That is the risk of making re-withdrawals from your loan. A re-withdrawal is the withdrawal from your loan again. If you do this regularly, you will not repay much of your loan and there is a risk that you will eventually pay too much interest.
Taking out costs of a revolving credit
Of course you want to know what it costs to take out a revolving credit if you choose the revolving credit.
The great thing is that no costs are charged for taking out a revolving credit. This is also prohibited by law. In the Consumer Credit Act it has been agreed that it is prohibited to charge costs when taking out or mediating a loan, and therefore also a revolving credit. Credit Competitor will therefore never do this.
If there is a provider who does charge costs when taking out a revolving credit, you can report this to the supervisory authority, the AFM (Netherlands Authority for the Financial Markets), they will note the data and start an investigation if there is reason to do so.