MonthJanuary 2020

Family Credit – Quick Credit Without Banks

They may be considering helping a relative or friend who is struggling with debt or supporting a family member who lost their job. These goals are laudable, but pay attention before lending money to the family .

In fact, according to a recent survey, 43% of readers who loaned money to family or friends did not receive the return payment in full and 27% have not received a penny back. To avoid family problems , follow these steps before offering money.

Check your reservations 

Check your reservations 

You have to verify that the credit does not put your withdrawal at risk. Calculate your income to see if you will be able to comfortably manage your income if that money is not returned.

Nor should they play banker if it involves borrowing or having to sell assets they are not ready to sell, especially if the latter put capital gains taxes at risk.

If you are lending money to your children, involve your brothers and sisters ; a large loan could reduce the funds available to others.

Examine the borrower

Examine the borrower

Ask that person for a credit score so you can see how they have handled their other credits (look for late payments and delinquencies).

Also ask for a debt repayment plan. This will help them see if the borrower is willing to take the deal seriously. If there is a business loan , make sure you have a copy of the business plan.

Definitely do not make any fault credit. Try to view the operation objectively.

Families almost always lower the interest rates on personal loans, but if they are lowered too much, they can lose money. For starters, you are supposed to file and pay taxes based on interest earned.

Set the payment schedule with the credit, and finally clarify the rights you have with the lender. If you are rescuing a child with debt, you may want to stipulate how you spend your money until you pay them back.

Leave it in writing

Leave it in writing

It is very helpful to have everything on paper, both for tax and personal purposes. Leaving the agreement in writing emphasizes that it is a business agreement.

You may choose to involve a third party to manage the credit for you, or download a promissory note form from the Internet. Include the amount, interest rate, and repayment schedule.

These tips could avoid problems with your family or friends

If the family loan puts your family stability or your money at risk, consider asking the professionals of Fine Bank without obligation; We are specialists in Fast Online Private Capital Credits , providing solutions immediately and in a comfortable way.

Credit protection – what is it and can it be withdrawn?

A friend asked you to guarantee a loan? Or maybe you are looking for a guarantor yourself? In every situation, you have to make a difficult decision.

A surety is one of the most common forms of bank securing receivables by far. It is used when taking out mortgages, installment loans, etc. A person with stable employment and financial standing will significantly increase their chances of getting a loan.

Banks and loan companies want to repay their liabilities

Banks and loan companies want to repay their liabilities

And recover capital, it is not important for them whether the installer will pay the debtor or the resident. A good resident can also help us get money when we have a negative credit history or no credit history at all.

A Jew is a colloquial term for a guarantor, i.e. a person who confirms the ability to repay a loan by a third party. In the event that a person taking out a loan or borrowing cannot repay the obligation – this obligation is transferred to the errant.

When agreeing on the existence of a loan, the guarantor should know his rights and obligations. Thanks to this, you can do someone a favor and stay in a comfortable situation.

What is credit keeping?

What is credit keeping?

Loan surety (chewing) is a kind of collateral for repayment of a loan. If you pay someone a loan and the person who took it stops repaying the liability, the bank has the right to demand repayment from you. As a guarantor, you are therefore responsible for paying the debt just as much as the borrower.

A guarantor may be an adult and with creditworthiness. What counts is the form of employment and the income of the potential grant. It is important that the person who borrows the loan has a positive credit history does not have debt collection activities and is not indebted.

The main responsibility of the tyrant is to pay the liability when the original borrower is unable to do so. The guarantor has certain rights in this respect.

  • First of all, he may demand from the borrower information on the repayment status of the loan, inter alia, what amount of the loan has already been settled and what is still outstanding;
  • The guarantor should also be informed on a regular basis about delays in paying back the payday loan. He should obtain such information from the institution granting the loan/credit;
  • If there is a situation in which the resident is forced to pay the debts, he automatically becomes the creditor of the original borrower and may require him to pay that amount.

Can you opt-out of the loan?

Can you opt-out of the loan?

Choosing the right guarantor is not a moment. The borrower should choose such a person whom he trusts with reciprocity. The guarantor should also know his rights, obligations, and consequences of such an obligation. A bank that gives the guarantor the character of his role during the loan period also gives a moment to think. Before signing the contract, the bank makes sure that the resident wants to become a loan repayment provider.

It is also often the case that a person who preys on a loan wants to withdraw from income tax because of the worsening of his financial situation. Unfortunately, the decision to gyrate is irreversible and you can not withdraw from it.

Most banks provide credit, relying on the creditworthiness and financial credibility of the borrower, not the borrower. When signing the contract, signing it by the guarantor is necessary to make it binding and binding. A bank that loses a good guarantor also formally loses the guarantee that it will recover the money borrowed.

It is possible to withdraw from the guarantee. Provided that the main debtor pays diligently. At the moment when there are delays with the settlement of the loan, the guarantor will lose any chance of resigning from coercion.

If a resident wishes to give up his role, he should submit a letter to the financial institution which gave the commitment. At that moment, the banking institution may request other collateral from the borrower.

Leasing – what is it? What are the types of leasing?

From year to year, leasing is becoming an increasingly popular form of financing. It is chosen by both large enterprises and self-employed persons. Thanks to leasing, we can purchase the necessary equipment without overburdening the company’s budget. Especially that this service has many advantages.

Leasing is one of the most favorable ways of financing

Leasing is one of the most favorable ways of financing

Business purchases, because it requires only a small commitment of own capital. In this way, we can modernize the company or purchase the necessary equipment at a relatively low cost.

In particular, the subject of the lease may be:

  • Office equipment: computers, photocopiers, furniture;
  • Means of road transport: passenger cars, vans, trucks, special;
  • Other machines: construction equipment, cranes, technological lines;
  • Ships, planes;
  • Real estate: office buildings, industrial buildings.

Definition of leasing

Everyone knows the definition of leasing, and the term ‘leasing’ comes from the English word ‘lease’, which means ‘renting’. The very explanation allows you to understand the essence of leasing. Leasing is a popular way of financing purchases by entrepreneurs.

It consists in the fact that one of the parties to the lease agreement gives the other the right to use the item for a specified period of time, as part of the fee, which is divided into installments. More clearly, it is the entrepreneur who uses a leased property on a daily basis, for which he pays a monthly fee, but is not its formal owner.

Leasing is actually a form of borrowing a given item to an enterprise in exchange for a monthly fee. The leasing period usually lasts a few years, but of course, it depends on the value of the leased item. After the end of this period, we have the opportunity to buy the property, but we are not obliged to do so.

When concluding a leasing contract, it is worth remembering to pay attention to the following parameters and their scope:

  • The amount of the leasing installment and the value of the goods;
  • The date by which the lease installments should be repaid;
  • Terms of buying leased goods;
  • Insurance information;
  • The listed collateral for the leasing contract;
  • The amount of penalty fees, e.g. for late payment of installments;
  • Procedures in the event of termination of the leasing contract by either party.

Types of leasing

Types of leasing

All entrepreneurs who use leasing usually have two types of leasing. This is operational leasing and financial leasing. The first applies to 80-90% of concluded contracts. The second is used sporadically, but it is worth explaining how they differ.

They differ depending on what is the subject of the lease, as well as how the contract is structured, who can be its party and what both parties have rights and obligations towards the subject of the lease.

  • Financial leasing – consists of putting things into use in exchange for leasing installments. It is mainly characterized by including an option clause for the sale of the subject of the lease after the end of the contract period. This means that the person using this leasing has the right to buy things;
  • Operational leasing – the subject of the lease is the property of the lessor, who bears the costs of maintaining the subject of the lease, its repairs, and insurance and is obliged to pay taxes. A person using the leasing service uses the item and pays the rent;
  • Leaseback – leaseback occurs in the form of both operational and financial leasing. It mainly consists in the fact that the lessee sells its own fixed asset to the lessor. Later, he signs a contract with the financing entity and takes over the sold item in a lease.
  • Direct leasing – the first one is characterized by the fact that the lease agreement and service is concluded between two parties without intermediary entities;
  • Indirect leasing – the latter is characterized by the fact that the lease agreement and service are concluded through an intermediary, e.g. a company specializing in such transactions. It allows you to complete most of the formalities on behalf of the client but also charges a commission on services.
  • Car leasing – this means that the subject of the leasing contract is a car. Car leasing is a form of vehicle financing that can be used by entrepreneurs or private individuals;
  • Consumer leasing – this option can be used by a person who does not run a business. It’s a good solution for individuals who want to drive a new car and cannot afford to buy it for cash.

Credit card “100 days without interest

Today the bank offers a credit card with a grace period. Most of them, however, provide 60 days for interest-free use of the loan. However, there are products with more attractive contract terms on the market. One of them is the “100 Days without interest” credit card. Good Finance offers interesting conditions for customers.

Grace period


Credit cards have a period of time during which the client can use the borrowed funds without paying interest if certain conditions are met. The key is to close the debt before the end of the grace period. Otherwise, the bank will deduct the interest.

It is also important to pay attention to the operation that extends the grace period. We usually only talk about cashless payments for goods. In the case of cash withdrawal from the card, the grace period is reset.

conditions of use


The computational algorithm is also very important. A grace period of up to 120 days does not mean that the client can use the full amount today, but to repay the debt in three months. The exact date depends on the date on which the interest calculation starts. The grace period does not cancel the debtor’s obligation to make a monthly payment.



Let’s take a closer look at how the Good Finance “100 Days Without Interest” card differs from other similar products on the market.

Grace periods apply to all types of operations, including cash withdrawals from ATMs. The three-month interest rate is provided only on traditional credit institution cards. This condition does not apply to co-branding and cards that support contactless payment technology. For these payment instruments, the grace period will be 60 days.

The card provides a mandatory payment in 5% of the debt, but not less than 320 USD. You must transfer money to your account every month during the payment period. It starts on the day of the conclusion of the contract and lasts 20 days.

The interest-free period starts after the first purchase. After 100 days you have to repay all penny debts. If this requirement is violated, interest will be charged and the next grace period will not start.

Good Finance: 100-day credit card


Conditions, interest, credit card “100 days”, let’s take a closer look:

  1. Type: Visa Classic.
  2. Edition: immediately.
  3. Technological features: 3D Secure.
  4. Interest on personal balance: none.
  5. Release fee: None.
  6. Rate: 19% -32%.
  7. Maintenance: 1290 USD
  8. Cash withdrawal: at every ATM: 6.9%, min. 500 USD
  9. Payout limit: 60 thousand USD. per month.
  10. In case of breach of the payment conditions of the minimum payment, a fine of 1% per day is charged.

Where is the “100 Days Without Interest” card issued? Good Finance offers customers to issue a current or preferred card at the credit institution’s branches. How to do it:

  • Complete the form by providing up-to-date information and contact details.
  • After 5 days, wait for the credit manager’s response.
  • If the application is approved, please contact the department to get the card.

Requirements for debtors


Good Finance card with a grace period of 100 days issued to customers over 21 years of age. The potential borrower must have a monthly income of 9,000 USD. and work at the last workplace for at least 3 months. They must also have a local registration.

The interest rate is calculated separately for each client and depends on the borrower’s documents and credit history. The presence of a job certificate, a car passport, a passport with a note of recent departure abroad, VHI policy significantly reduces the percentage. A credit card application is issued if there are at least two documents, one of which must be a passport of a citizen of the Russian Federation.

Working scheme


To better understand how Good Finance’s “100 Days Without Interest” credit card works, let’s take a closer look at the following diagram.

Let’s say a contract was concluded with a client on November 22nd. The 22nd month will be the reporting date. After 6 days, ie on November 28th, the customer paid for the in-store purchases with this card. The grace period starts at 29 and lasts 100 days, until 9 March.

For the month – December 22 – the client will receive an SMS notification stating the amount spent. An additional 20 days are allocated to make a compulsory payment (before January 11). Suppose that the funds were credited on 28 December, but only covered part of the amount owed by Good Finance CJSC. The Visa card, with a grace period of 100 days, continues to run on preferential terms.

If the client manages to repay all debts by March 9, one grace period ends and the next grace period begins. If the entire amount of the debt is not repaid in time, interest will begin to accumulate.

Where and how to determine the amount, date of payment? You can check the amount of the debt at any time from the statement received at the internet bank, through the mobile application, at the credit institution department, from the call center employee.

Advantages and disadvantages


After a detailed examination of all the nuances of using the plastic, to sum up, do I really need a credit card “100 days without interest”? Good Finance offers an interesting payment instrument.

Three months of preferential use covers all types of operations. Advanced users can manage the account directly through the Internet bank: check balance, view statement, transfer funds, repay the loan. Those who are “up to you” with the Internet can activate the SMS notification service and receive the same account statements directly to the phone.

There is another big benefit of the “100 Days Without Interest” card. Good Finance offers its customers several ways to repay their debts: bank transfer from any account, cash deposit through the bank’s cash register. To complete the transfer, simply include the card number and the payee name.

The card has only one disadvantage of “100 days without interest.” Good Finance charges monthly SMS and online banking fees. Most credit institutions provide these services for free or for a nominal fee.

Other offers on the market


Avangard offers a maximum interest payment delay (up to $ 200 days) with Visa and MasterCard credit cards. Any new client can get it, just like one who has never used an overdraft. The monthly payment is 10%. If the account is late on the 19th day of the seventh month after the withdrawal of funds, interest will be charged on all days of use of the credit at an increasing rate of 24%. The maximum limit is 150 thousand USD.

Good Finance on SureCard offers 145 days of preferred use of plastic. Offer only relevant to new customers and only to the first transaction. All the following will already be calculated based on 55 days. The grace period starts when the card is issued. Upon completion, the rate will rise to 34.9%. The maximum credit limit is 600 thousand USD.

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