Online financial services have been gaining unprecedented momentum around the world lately. The volume of loans provided is in the billions, the number of clients is constantly increasing. However, like any other rapid growth, this development also entails some difficulties in use. The competition is quite high, the level of service is constantly growing. But not everyone knows how to use such services successfully. Get the most out of your online lending with ten tips from leading financial services professionals.
- Feedback on the level of service of a particular company. In a highly competitive environment, testimonials from real customers remain the most reliable source of information about the level of service a particular company provides. It is worth making it a rule, after receiving a certain service, to leave a review about it on independent sites. This will help the next clients to make their choice. It so happened that more often than not, reviews are left by dissatisfied customers – those who for some reason remained dissatisfied with the service, while satisfied customers simply do not consider it necessary to leave a good review. This is a little wrong – the company is working on its reputation, and it will be correct to properly assess its level. Well, and help those who will choose a reliable partner in the future. Such, for example, as Oncredit.vn, which has only positive verified reviews.
- It is very important to take online loans responsibly – only for those purposes that in the future can lead to the development and increase in income. You should not constantly take out loans for entertainment or goods that are not available in terms of income without credit. Of course, this does not mean that you should not take a loan for a good vacation, which can be returned in a few months – rest in the future will allow you to start working with renewed vigor and increase your own income level. However, buying a large-screen TV or the latest smartphone that doesn’t need the most advanced features is the first step towards misusing online loans. By the way, if you are planning a loan for machinery or equipment, try to combine discounts on equipment with discounts on the provision of financial services in oncredit, for example, on Black Friday.
- The most important rule is never to take out a loan online for gambling, lottery or sports betting. This rule is part of the Responsible Gaming Code of Practice. In some countries, this issue is beginning to be regulated by law, for example, prohibiting the issuance of loans at night. This abuse of a good service can lead to even more stringent restrictions in the future. After all, an online loan can help you get out of a crisis or help you pay urgently on time. However, its unwise use can lead to the opposite situation – to a financial crisis.
- But one of the pleasant little things that accompanies online lending is an active marketing policy in the form of providing all kinds of discounts, bonuses, promotional codes. If you are planning to take out an online loan, be sure to check the advertisements of various companies. You will probably find very lucrative offers in the form of a minimum percentage in honor of the anniversary of the company’s foundation, various holidays or other occasions. Thus, you can take out a loan at the most favorable conditions on the market, spending just a few minutes looking for information. Be sure to compare the terms of loans. And if you see a promo code that can bring you a good discount, this is also a good chance to save money, which should not be missed. So you can take unsecured loan 200 million in 5 years (vay tín chấp 200 triệu trong 5 năm) – and pay for it just a little.
- Do not take out a loan just because you have been promised to give it completely free of charge. There are no absolutely free loans, this is contrary to the laws of economics, on the basis of which all offices for the provision of financial services operate. Therefore, in all conditionally interest-free loans, there will definitely be a pitfall in the form of either payment of a commission or insurance services. There is an old saying – “Free cheese is only in a mousetrap.” It is more relevant than ever in the case of online lending.
- After completing payments on loans, be sure to receive from the company confirmation that the loan is really closed and the company has no questions or complaints. Unfortunately, unscrupulous companies, using various pretexts, leave a small amount uncovered, on which interest, fines and penalties are charged for a certain time – and after the amount has grown to quite decent, they present it for payment. This usually comes as a nasty surprise to unsuspecting customers. And the only way to solve this problem is to pay the company this amount, which can also have a very negative effect on the budget or the entire financial situation.
- Be sure to mark your loan expiration date and try to repay it a day earlier. This will help to avoid a situation when, due to some very conditional failure, the company will credit the payment not on the same day, but on the next, and will require the payment of a fine and interest. Therefore, even when signing an agreement for the provision of lending services, it is worth noting the end date of the agreement and trying to arrange it in such a way that it does not fall on holidays or weekends. At first glance, this is unimportant, but in the future it may well help to correctly close the loan.
- Be sure to read not only the agreement for the provision of credit services, but also other agreements that are signed with the financial company. First of all, the case concerns the contract for the provision and protection of personal data. Microfinance organizations sometimes share personal information of their clients with third companies for marketing purposes. In order to avoid such a result, be sure to read what exactly you are signing, even if it is enough just to tick the box to sign.
- When applying for a loan online, be sure to provide the most correct information about yourself at the request of the company – contacts, place of work, income level. Erroneous data that can be checked will not only lead to a refusal to obtain a loan, but also to the fact that it will lower the credit rating, and it will become problematic to get a loan even elsewhere. If you really need financial help, don’t take the risk of providing inaccurate data.
- Use online loans responsibly. Take them only when you urgently need financial assistance, do not try to cover overdue loans with new loans – this is a dead-end path. It is not a permanent source of income, but a reliable source of help in a difficult or urgent situation. If you see that the situation is getting out of control – stop and consult with specialists. You should not take new loans in the hope that someday you will get a big profit from somewhere, focus only on real and confirmed income.
Online loans are a fast and effective way to solve your financial problems or get a respite from the need to solve them. Do not become a slave to loans – this is not income, this is only financial assistance. If you listen to the advice of professionals, you can use this service with great benefit for yourself. Don’t miss this opportunity.
But at the same time, if you have planned your development – for example, training or starting your own business, an online loan is a way to start the whole process quickly and efficiently. After all, any, even the most distant path always begins with the first step. So, with a well-thought-out development strategy, the first step to financial well-being may well be getting an online loan. For a start, the amount that microfinance organizations give out may be quite enough, and the conditions will allow for further steps. Do not forget, of course, about caution and risks. But in order to go forward, you need to move. Do not be afraid to take reasonable risks – only new actions can lead to new results.