Best credit is one of the companies that offer microcredits and that have jumped on the bandwagon to offer the first loan of 300 USD at zero cost to be repaid within 30 days.
Apart from this, there are no major differences with other similar loans, with the exception of being able to request credit extensions unlimited and even in default, which will allow you to have greater flexibility in the event that you have problems with credit repayment.
Requirements to access a Best credit credit and how is the process
To learn the details regarding Best credit mini-credits, let’s start by learning what application requirements you need to meet, and how to complete the application process. Best credit’s requirements to access one of its credits do not differ substantially from those offered by other companies: A minimum age of 21 years and a maximum of 75, have demonstrable income, be the holder of a bank account and have a email address and a mobile phone.
Of course, in the Financial Credit Institution section, in which other companies offer more flexibility, Best credit does not do so, since among the required requirements it is clear that in order to access its financing, we must not appear in any delinquency file. Therefore, if we find ourselves in this situation, we can leave this company aside and look for others that grant loans with Financial Credit Institution since in Best credit, our requests will be rejected.
Assuming that we do not appear in any delinquency register, the process to follow to obtain up to a maximum of 300 USD at zero cost with this company is as follows.
Through the Best credit website we can make our credit request, establishing the amount and the term that we need. Then we will create our personal account and verify our data by sending the required documentation or by accessing the Instantor system, with which it is not necessary to attach any documentation, by validating our information in just a few seconds.
Once we receive your answer, if it is affirmative, generally within minutes they will proceed to deposit the money in our account. This can take anywhere from 15 minutes to 24-48 hours, depending on the bank the client works with.
As already mentioned, the maximum amount granted in this first loan is 300 USD, and the repayment period is up to 30 days. In this first loan, no interest or commissions are paid, that is, the amount received as a loan is exclusively returned.
In the event that the request is made by a customer who has previously received a credit, the amount to request may be higher, up to a maximum of 1,000 USD, although in this case interest does apply.
Loan repayment deadline
At the established deadline, the client must return the amount received, for which he has different options. You can do it through the web in the Clients area, with a debit card or through a bank transfer or deposit at the window.
Although in the case of the first loan it does not apply, it should be noted that interest is paid only for the time for which the money is available, therefore, a faster payment implies a lower cost of the loan. In addition, there is also the possibility of making partial amortizations during any moment of the established term.
If when the time comes to return the loan, we do not have the liquidity to do so, we can extend the term by requesting an extension or extension. This management is carried out through the customer portal and is carried out by paying the amount that is required of us for this concept by means of deposit or transfer.
The extensions can be for a term that ranges between 5 and 30 days, and as a great novelty in relation to other credits, they can be requested even in default. That is, if the client, when the time comes, has not made the payment and his credit becomes delinquent, he can request an extension and from that moment the payment of late interest is interrupted.
Obviously, this is a very useful tool to prevent loan costs from soaring, and since there is the possibility of requesting as many extensions as necessary, it offers the flexibility to cushion the impact of a default for the time it takes to collect the money with which to settle the debt.d want to know that they have flexibility in case things go wrong.