Good Credit is a financial institution that operates in many European countries as an international group since 2006. It has granted more than one million loans to more than 500 thousand clients in 8 different countries, for which it received the Elite European Business Award »For its annual growth strategy. Among the Good Credit products you will find:
What to know about Good Credit responsible loans?
- They allow you to request up to $ 300 if you are a new customer. If you are already a customer you can request up to $ 1,000.
- The return period is set between 5 and 30 days.
- You can request the postponement and, if Good Credit accepts it, take the refund up to 3 months.
- Annual Equivalent Rate of 2,899.03%. For example: Requesting $ 1,000 to return in 30 days will involve a refund of $ 1,300 (1% daily).
- Late payments will amount to 1% daily up to a maximum of 200% of the value of the credit.
- In case of early repayment, you will be entitled to a reduction in the total cost of the loan that will never exceed 0.5% of the total value of the loan.
How do responsible Good Credit loans work?
The responsible loan of this entity allows customers to control their cash flow even when their own resources fall short. However, they only grant it if they are sure that the customer will be able to pay it. They use relevant information from different debtor databases and carefully analyze their clients’ bank statements. Their risk analysis systems and valuation models help them make decisions to be able to lend with the rigor and criteria necessary to cover current regulations. Therefore, you will find it difficult to get credit with them if your creditworthiness is questionable.
ADVANTAGES AND DISADVANTAGES OF Good Credit PRODUCTS
- Up to $ 1,000 of credit
- Immediate response
- Customer service 365 days a year
- Application and processing totally online
- Accept ASNEF if the debt is not very high and depending on the amount of your income
- If you are a known customer you can make the payment in 3 installments
- It allows to postpone the payment of a receipt.
- You do not have first free credit like other entities
- Annual equivalent rate (APR) of 2,899.03%, very high
- It requires demonstrable monthly income: payroll, pension, self-employed or unemployment benefit
- In case of default a commission of 1% per day will be generated up to a maximum of 200%.
- To verify your identity, Good Credit will request that you transfer $ 0.01. Your bank may charge you a commission for that transfer.