How to Choose the Best Bank Credit?

Choosing the best bank credit is not a simple task, in the financial field there are multiple factors that can influence your choice and it depends on you that you enjoy great financing or that you are chained to an eternal debt.

Is there a method to choose the best bank credit? No, maybe there are some tips that can help you but they are far from being that secret recipe that you might imagine we can give you.


What is the best bank credit?

What is the best bank credit?

Perhaps the above is directly related to this question, what is the best bank credit? The answer is simple, there is no ideal bank credit that, which matches the expectations and needs of customers in general.

Bank loans are a very complex financing system that involves a combination of factors such as:

  • Rode
  • Term
  • Interest rate
  • Average CAT
  • Type of interest
  • commissions
  • Requirements

What makes them completely different from each other in even, these factors combined with the wide range of needs of people interested in them mean that there is no ideal credit, but credit according to the measure and needs of those who are looking for it.

So, with the understanding that there is no credit that is better than others, it is prudent to say that there is also no methodology that tells us how to get the perfect financing. But, there are a number of points that should be reviewed and prioritized according to personal needs.


Learn to choose the best bank credit

Learn to choose the best bank credit

In order to choose the best bank credit it is necessary to determine the following:

  • What type of credit is required?

This will define the type of credit for which you are going to lean as: mortgage, for SMEs or personal.

  • What is the amount of credit required?

No matter the purpose, having clarity of the amount you want to request is essential to start the search for options

  • How much time can you afford it?

Yes, this is also a determining factor, the time in which you can settle a credit speaks of your ability to pay, that is, the less time you need to settle, the greater your ability to pay and therefore, more feasible than you grant in financing

  • Interest and commissions that you are willing to pay

It’s not just about being granted a credit and that’s it. Remember that as such, it is a product that has a price and this sometimes turns out to be very high. That is why it is important that you ask yourself, how much are you willing to pay for this financing? 10, 20, 50, 100% more than what they lend you?

Once you determine these points, assess whether there really is a credit that covers everything you need or if you have to sacrifice one point for another.


The importance of credit history

The importance of credit history

Now, let’s move on to the most important point of the matter: the credit history in the Credit Bureau . While it is true that there are points that you can choose from your financing, it is also a reality that many of them are determined by the bank itself thanks to a couple of indicators that are present in your credit history.

For this reason it is essential that if you are going to apply for a bank loan, first, you have a credit history and secondly, that it is good.

In conclusion Is there the best bank credit? No, there is no wonderful credit that fits the needs of all customers, but there is adequate credit for each of them, it is not the same nor is it from the same bank, and the perfection of it, only you determine.

If you take into account your ability to pay and the purpose of the loan, you can start your secure search and find a very good option. In Tu Decide we can support you with our credit comparator so that, in the same place, you can compare the different characteristics of your main options.