Revolving credit is a consumer credit that works on a rotating or renewable basis, just like a line of credit. It is offered by a financial institution to a client and offers an amount of money with a time limit. Through a revolving credit, the client can make as many dispositions as he wants with the set time limit without having to make more requests once granted.
Through a revolving credit you will have the option of having a line of credit for when you need it and only pay interest on the money in hand, being able to pay it in comfortable monthly installments or when you have the money through an early amortization of the credit and thus save interests. We show you where to apply for revolving credits online, without paperwork and their characteristics.
Where to apply for a revolving credit?
A revolving credit can be requested through the Internet quickly, easily and without the need to carry out paperwork through financial entities that offer them online. These financial institutions offer revolving credit through products such as fast loans, line of credit or online personal loans. We show you the main financial institutions where you can request this type of renewable credit :
Best Lender revolving credit
Best Lender is a financial institution that offers revolving credits in Spain with a maximum amount of $ 4,000 to be repaid within a maximum period of 48 months. Your request is through its website and with 100% online management, not having to carry out paperwork and hardly meeting requirements, since your revolving credit is without guarantee and can be obtained without payroll.
To have a revolving credit in Best Lender you only have to apply online and you will have an immediate response. In the event that the credit is approved, you can have the money in 10 minutes and transfer it whenever you want. Best Lender also offers the possibility to function as a personal loan and transfer the money directly after completing the application.
Applying and having a revolving credit in Best Lender is free, since it has no opening or maintenance commission, and you will only pay interest on the balance drawn. You can return the money in monthly installments or in advance and thus save interest, since you will only pay interest when you have the money.
Revolving credit in Good Finance
Good Finance is one of the best-known financial institutions in Spain, which offers financial products to obtain financing through the Internet quickly or easily. One of its products is Good Finance Direct Credit, which is really a revolving credit or a line of credit that is requested through the Internet without paperwork and through an application form.
The Good Finance revolving credit offers up to $ 4,000 to be repaid within a maximum period of 41 months. You can have the entire amount and use it as a personal loan, or make available credit when you need it and return it in monthly installments or with early repayment, as a line of credit. This makes revolving credit very flexible and adaptable to your clients.
Opening a revolving credit in Good Finance is very simple, since you only have to make a request on its website without the need for paperwork and you have an immediate response. It has no opening commission or maintenance costs, and you will only pay interest on the balance drawn, so you can open the Good Finance revolving credit whenever you want without paying anything for it.
Once the revolving credit of Good Finance is approved, you can make money provisions whenever you want through its website and without having to make any additional request or explain your need for money.
Revolving credit in Creditea
Credits another financial institution that offers revolving credit through the Internet through a request on its website without paperwork and quickly. At Creditea you can have up to $ 5,000 to repay within a maximum period of 36 months and have the money immediately as if it were a personal loan or withdraw the money when you need it as if it were a line of credit.
To apply for a revolving credit in Creditea you will not need to meet many requirements, since your credits are without guarantee and it is possible to request them without payroll or pension, although you will need to demonstrate that you have periodic income so that you can have it.
As in Good Finance and Best Lender, you will only pay interest on the balance drawn, being able to return the money in advance and thus save interest. You can make provisions and returns as many times as you want as long as you do not exceed the balance or the maximum time, so you will have total flexibility.
Good Finance revolving credit
Good Finance Money is another financial institution where you can get a revolving credit up to $ 1000 to be returned in a maximum of 26 months through its Flexible Credit product, being able to have the money in a matter of minutes, since your request is made by filling out a form in your website with immediate response.
The revolving credit of Good Finance Money offers great flexibility to arrange and return the money, since once the application is approved you can dispose and return the money whenever you want as long as you do not exceed the maximum amount and term.
To apply for the Flexible Credit of Good Finance Money you do not need to fulfill hardly any requirements, since it is a credit without guarantee that can be requested without the need for payroll or pension. The first request is only up to 500 USD, but if you return it before 30 days it will be free.
Obtain revolving credit through credit cards
The credit offered by credit cards can also be called revolving credit, since they offer the possibility of having the available balance whenever you want and to return the money in comfortable monthly installments. Credit cards also offer the option of repaying money early, saving interest, so the behavior is similar to the credits listed above.
To obtain a revolving credit through credit cards you will have to apply for the card at the financial institution that offers them. Once you have the credit card you can use all its features and advantages.
Characteristics of a revolving credit
A revolving credit offers the possibility of having the money available to obtain it when you need it quickly, easily and immediately, paying interest only for the time you have the money in your possession. In this way, a client can obtain urgent money for whatever he wants without having to make an additional request or explain why. You only have the money of the available balance in the revolving credit and you return the money in monthly installments.
A feature that revolving credits have is that they can be amortized in advance without paying commissions for it and by paying only interest when you have the money in your possession, you will save money in interest.
Some financial institutions also offer the possibility of paying what you want each month, having only a minimum rate that you have to pay, trying to maximize credit flexibility.
When to apply for a revolving credit?
A revolving credit is interesting when you need to obtain urgent financing on a recurring basis, since you request it once and you can get money as many times as you want, respecting your credit limit and term. Offering flexibility to obtain it and return the money is very interesting in these cases.
Revolving credit can work as a line of credit or fast credit, so it is interesting to use these types of credits when you need money instantly, because your request is made quickly and easily through the Internet. They are an alternative to online microcredit, since they have lower interest rates than they do.
Advantages of revolving credits
The biggest advantage that revolving credits offer is flexibility, since they allow you to have the money whenever you want and to return it in monthly installments that you choose or when you have the money again.
Another advantage is that once you have used the credit, you have it available again when you need it. In this case, you will only have to have the money immediately without making any additional request.
You will be able to request a revolving credit without needing to fulfill hardly any requirements, since they are unsecured personal loans, so you will not need a guarantee or guarantor for it. In addition, it is possible to have the money without having a salary or pension.
The application for this type of credit is usually made through the Internet, quickly, easily and without the need for paperwork. They offer immediate response to the request and the possibility of having the money in a few minutes.
Disadvantages of applying for a revolving credit
The main disadvantage of a revolving credit is the interest rates charged by financial institutions, since they are high because they do not ask for many requirements to approve applications and the speed in granting money. That is why our recommendation is always to try to get money through other financial products such as personal loans, which have lower interest rates.