Revolving credit is a small loan offered by credit organizations, banks and other consumer credit players. Where to apply for it quickly? Who offers the best APR rate? We will see how to apply for revolving credit quickly, but above all get a favorable opinion.
Credit organizations have a huge advantage over banks on the issue of fast revolving credit. Small credit generally meets a pressing need for money, so it’s important to knock on the right door.
Questions / answers to obtain a fast revolving credit:
|Rapid revolving credit: questions and answers|
|For what amount?||Revolving credit is generally between 500 $ and 6000 $.|
|I already have a revolving credit contract, can it be used?||An already open – and active – contract with an available reserve offers the possibility of requesting an immediate transfer, without proof.|
|How do you know who will accept a new request for revolving credit quickly?||A credit comparator with immediate response avoids the credit refused box.|
|What supporting documents are requested?||ID ; proof of address ; latest salary slip; RIB.|
Existing revolving credit = express transfer
Using the money available on an existing revolving credit agreement is the easiest way to get fast revolving credit. The APR rate will generally be high, but this solution makes it possible to obtain an immediate transfer, and the money in 24 to 48 hours depending on bank deadlines. It is mainly a revolving credit without proof, since the organization already knows the profile of the applicant.
It is for example possible to obtain a rapid revolving credit through a store credit, thanks to a payment and credit card from a specialist. When immediate transfer is impossible, you must go through an online revolving credit application to get the money as quickly as possible.
Fast revolving credit and better rate, a compatible duo?
Using a credit comparator provides fast revolving credit at the best APR rate. Speed and haste should not be confused by rushing for the first small credit offer seen online or on television. The risk of requesting a loan without comparing is to find yourself confronted with a loan accepted then refused once the file studied in detail. Some organizations do accept more applications than others. A waste of time waiting for a response that turns out to be negative can throw a project into the water, and above all embarrass. Drawing an organization haphazardly, luck goes against a request for rapid revolving credit.
Our credit comparator answers this problem by directly questioning the credit organizations. Once the credit form has been completed, the tool is able to first suggest the easiest offer to obtain under the conditions indicated.
Example of fast revolving credit
Any amount less than or equal to 4000 $ selected on our form directs to the fast revolving credit offers. Let’s take a look at what a small $ 1,500 loan with a fast repayment speed could look like at Viloan, an organization that regularly leads our rankings.
|Viloan revolving credit simulation $ 1,500 in “express” repayment formula||Revisable APR rate||Repayment period||Monthly fees||Total cost of credit|
|Request for 1501 $||12.90%||12 months||15 monthly payments of $ 105.00 and a final one of $ 56.97||1631.97 $|
In our example, Bankate offers several repayment speeds. The total cost of credit is logically higher when the repayment is spread over long periods. It is advantageous, when its repayment capacity allows, to repay over the shortest possible period.
Reminder: the APR rate of revolving credit is revisable and not fixed, indicating that it is likely to change over time. This is mainly the case when express reuse of available money or payment on credit with an associated card.
How long does it take to get money from a revolving loan?
The legal waiting period before obtaining money from a consumer loan is 14 days, counting from the date of signature and acceptance of the loan. It is however possible to reduce the time limit to eight days, provided that you request it. Most credit contracts do provide a checkmark to speed up the payment of funds.
Quick revolving credit step by step:
- Fill out the small credit form on our comparator, indicating an amount between the mini credit 500 $ and a credit 4000 $.
- Once the request is completed, our tool indicates which organization is most inclined to accept the request.
- The organization responds to the request for rapid revolving credit by email within 24 hours. The response is accompanied by a final proposal.
- Complete the information provided and send the contract or sign it electronically.
- The organization provides a final response as quickly as possible, 48 hours in the best of cases.
- Final acceptance triggers the legal waiting period, corresponding to eight or 14 days depending on the formula chosen.
- It is always possible to retract for 14 days, from the date of signature of the credit contract (see withdrawal period for consumer credit).
It is therefore necessary to wait at least 10 days before obtaining the money for a revolving credit. We also advise to prepare the credit documents, in order to save time. The list of supporting documents generally includes an identity document, a proof of address, a RIB and the latest salary slip.
The main principles of revolving credit
It is important to remember the main principles:
- Amount: mostly between a credit 500 USD and 6000 $
- Duration: 36 months maximum up to 3000 $, 60 months beyond
- Credit without proof of purchase
- Revisable APR rate * higher than that of a traditional depreciable loan
- The contract provides for a reserve of money available and usable at any time