/ My WordPress Blog Sat, 16 May 2020 03:24:32 +0000 en-US hourly 1 What Are the Differences Between a Credit Card and a Payday Loan. /what-are-the-differences-between-a-credit-card-and-a-payday-loan/ /what-are-the-differences-between-a-credit-card-and-a-payday-loan/#respond Sat, 16 May 2020 03:24:32 +0000

No matter how rigorously we plan our financial obligations, there can always be unexpected expenses. Whether it’s a damaged home item, a car repair, a roof leak, medical bills, or just the irresistible temptation to take that dream vacation because plane tickets are on sale. See for further editorial

All of these situations have one thing in common – they require extra money. Some prefer to borrow money from a family member or request a job advance. Both are viable options but often the feasible amounts in this way are not sufficient.

So what should we do in this situation? Find different loan options. There are many varieties of loans out there but the most popular tend to be either a bank card (with or without prepaid credit) or payday loans and quick loans. Both are possible options but in reality they have their differences and they are better for some cases than for others. Let’s take a closer look at each one.

Main characteristics of a credit card

Main characteristics of a credit card

The most notable feature is that it is issued by a bank. However, not everyone can get one. Usually, you need a good financial history as well as stable income. The amount of credit awarded to the card is also related to income – the higher the income, the more money a person can apply for. But the score (the history) is really important in relation to the interest rate you will receive.

The card can be used like a regular bank card. You can have a fixed payment date or a variable payment date.

When the date is fixed, you have to pay the amount of money before a certain date. The card is linked to a bank account from which the money is withdrawn. When there is no money in the account, the interest is paid. With a variable payment date you simply start paying the interest (usually less than the card with a fixed payment date) after a certain date. You yourself can choose when to pay all the money back.

Many of these cards are part of an incentive plan. That means you earn points when you pay with it. These points can then be exchanged for discounts on products or services.

What you should know about a payday loan

What you should know about a personal loan

When you use the bank issued card, you are actually using the bank’s money. When you request payday loans the money is transferred as a single amount to your account and after that transaction it is yours. A payday loan (as well as quick loans) is something you apply for once and when you need more money you have to request it again. You can request any quantity you need – be it big or small. There are many different options out there and it is entirely possible to ask for the amount of money you need at any given time – a good way to avoid overspending.

The great advantage of payday loans is that the payment can be made in installments, divided into months or even years. Often you can choose the payment schedule yourself – the amount you want to pay each month. This ensures that you can maintain your financial stability so that paying off a payday loan will not affect your other financial obligations.

 Which one to prefer – a credit card or a payday loan?

 Which one to prefer - a credit card or a personal loan?

Now that you know the basic information on both options, you may be asking yourself – which one is the best for me?

There is no general rule of thumb which one you should prefer – a commitment to a bank or more comfortable fast loans. This largely depends on the situation you need the money for, your financial history, your financial situation and your obligations.

If you have a large expense approaching and you know something unique is possible, then payday loans may be right for you. You can request the exact amount you need and decide on the payment schedule. This will guarantee a stable financial situation – payment in installments will not affect your other obligations. You will have a clear perspective of how much extra money you will need each month to pay off your loan. Also, there is a set end date – when the loan is paid in full.

This is also a better option if you have problems with self-discipline. With a card, it’s easy to find excuses and spend on whims – buying things you don’t really need. It is always available for you to use. Whereas a payday loan (and also a quick loan) requires an application process and a conscious decision to actually apply for the money. Although the application process is very easy nowadays, it still represents an obstacle between the action of asking for money and receiving it. So it’s a better solution if you tend to give in to your impulses easily.

If you are a person who lives on daily payments and there are cases at the end of the month in which you find yourself short of money, then a credit card is the best for you. You will always have it in your wallet ready to use. If you pay the amounts on the fixed date – usually at the beginning of the next month – you will not lose money in interest.

You will also earn loyalty points that you can use for products or services. For example, some banks also have alliances with airlines – they offer a discount for a certain number of points. Some people even choose to use their card all month to earn points and at the beginning of the following month they simply pay everything. If you have unexpected and urgent expenses, quick loans are also an option worth checking out.

I have decided to opt for a payday loan – how do I get it?

I have decided to opt for a personal loan - how do I get it?

It is important to choose a lender that you can trust and that has a good reputation.

Fine Bank is a company that intermediates loans and you will find a quick and adequate solution for each client, regardless of their financial need. Fine Bank works only with the most trusted lenders on the market. The application process is quick and easy with Fine Bank. Simply provide your name, personal identification number, email, and phone number.

Fine Bank will contact you shortly with the offers and you can choose the most suitable for you. When you have confirmed the offer, the money will be transferred to your account.

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How to build a positive credit history? /how-to-build-a-positive-credit-history/ /how-to-build-a-positive-credit-history/#respond Sat, 18 Apr 2020 02:46:45 +0000

Credit history is data collected in the Credit Information Bureau on the subject of liability and obligations in paying current and past liabilities. It describes our cooperation with banks and other financial institutions, it contains various financial products: loan guarantees, short and long-term loans, subscription contracts and debit cards.

A positive credit history increases our scoring in the Credit Information Bureau, in other words, credibility towards lenders. This factor may affect the granting of a consumer loan by the bank and the repayment terms.

Often, clients with worse Credit Information Bureau history get credit on worse terms or the loan application will be rejected. So let’s have a good credit history to get, for example, a mortgage on favorable terms.

Why is credit history important for banks?

All this information informs the future borrower what our creditworthiness is and largely determines whether the loan or loan application will be approved. With a good credit history, the bank is able to grant a large amount of cash loans because it knows that we are solvent and we pay our liabilities on time.

Only parabanks offering short-term loans for a small amount do not check the history of the Credit Information Bureau. However, they also enter the borrower into the Credit Information Bureau database in the event of a loan being not repaid on time, reducing its financial credibility.

Such a patch effectively scares off banking institutions, and the removal of unfavorable history is possible only after 5 years from the repayment date of the delayed loan.

What affects a negative credit history?

What affects a negative credit history?

It often happens that when applying for a loan we are issued with a negative decision due to the negative credit history. It is worth knowing the reasons why our credit history looks bad in the eyes of financial institutions. This is not necessarily the result of unpaid loans, and the reasons can be quite different.

Bad credit history can have a variety of causes that affect your refusal to grant a financial liability. The most important of them are:

  1. No timeliness in repayment – this is one of the most important factors that affect the calculation of Credit Information Bureau scoring. This may result in the rejection of the loan application or higher total loan costs.
  2. Difficulties in contacting the bank, where problems with paying the liability – in case of problems with repayment of the loan, it is best to agree on a joint solution with the bank.
  3. Exceeding credit card debits – Exceeding the bank’s designated credit lines, i.e. debits, gives us a bad credit history.
  4. Multi-stage debt resulting in numerous delays in repayment.
  5. No credit history – if we have never taken any credit, we are not financially reliable.

How to check your credit history in the Credit Information Bureau?

How to check your credit history in the Credit Information Bureau?

Before going to the bank to apply for a mortgage or cash loan, it is worth checking our credit history at the Credit Information Bureau.

It may happen that there is information about unpaid loans, and a period of 5 years has passed, from which you can try to remove adverse data from the database. We can also remove consolidated loans or remove false or information contained in the Credit Information Bureau.

Just set up an account in the Credit Information Bureau, login, and then download the free report from the Credit Information Bureau. In the event that we want to obtain very accurate data from the Credit Information Bureau, we recommend choosing the paid extended version.

Ways to build a positive credit history

Creating a credit history requires time, responsibility and knowledge. However, having a positive history will bring success to those who apply for a mortgage at a bank or other financial institution.

Here are some practical tips on how to raise your credit history in the eyes of banks:

  1. Repaying obligations on time – there is nothing worse for a consumer than a delay with loan repayment, try to watch over your loans.
  2. Using financial product offers – without any credit history, we are not very reliable. The large amount of liabilities repaid on time and those in the repayment history in credit history will be a sign for banks that you are solvent.
  3. Avoiding debt collection and debt enforcement proceedings – they show that the client had serious financial problems.
  4. Having a credit card – you can pay off debits on a credit card, but this involves high interest.
  5. Buying in installments – timely repayment of equipment in installments appears in the BIG database and positively affects our consumer rating.
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Unsecured loans online – check details /unsecured-loans-online-check-details/ /unsecured-loans-online-check-details/#respond Fri, 17 Apr 2020 03:04:03 +0000

If you are looking for a way to borrow money – without many formalities and in a short time, check the offers of non-bank companies. They often offer loans online. Analyze your financial situation and check if this solution is for you.

Loans without creditworthiness online – how is this possible? Who grants loans?


You may have already had the opportunity to apply for a bank loan. If so, you know that granting a loan involves a number of formalities. It is usually necessary to provide a certificate of employment and income, sometimes also an account statement.

The bank also verifies the GFI (Good Finance Information) and KRD (National Debt Register) databases. This is what the creditworthiness assessment looks like, which the bank must do to grant you credit.

If in the past you had problems with paying off installments on time, if you still have some debts or you cannot confirm your income, you may have problems getting a bank loan. In this situation, non-bank companies can be helpful.

Non-bank companies are private institutions that do not perform banking activities (in legal terms), therefore they cannot grant loans – this is a product reserved exclusively for banks.

However, they offer cash loans (including loans without creditworthiness), which are usually much less formal than loans and shorter processing time. Check what conditions must be met in order to take advantage of a loan without creditworthiness online.

Loan without creditworthiness – what conditions must be met to receive it?

Loan without creditworthiness - what conditions must be met to receive it?

The calculation of creditworthiness in non-bank companies is often not necessary. Usually, it is enough to meet several criteria, although the requirements may vary from institution to institution. Most often, to use a loan without creditworthiness, you must:

  • be at least 18 or 21 years old; the upper age limit is between 65 and 80;
  • use an ID card;
  • be able to indicate the address of registration or residence;
  • provide a contact phone number and bank account number.

In addition, it also happens that companies may require confirmation of earnings or employment, but this is not the rule. Much depends on the company’s rules and the amount you borrow. Therefore, checking the borrower’s creditworthiness is often much less restrictive than in the case of banks, and often even completely abandoned.

Since non-bank companies often do not attach importance to creditworthiness, they also offer consolidation loans without creditworthiness, loans for the unemployed, and even loans for people with debt collection activities.

How much money can you borrow and for how long?

Loans without online creditworthiness are often granted in the form of so-called payday loans. The name refers to both the short time it takes to get a loan and the time you can borrow money. Compared to bank loans, it is relatively short and usually ranges from 15 days to 3 years. The amounts of such loans usually range from PLN 100 to PLN 15,000.

Loans without creditworthiness online – how to get a loan? Step by step instructions


You can take a loan without an assessment of your creditworthiness in several ways, e.g. on-site, at the company’s headquarters. However, the fastest and easiest way is to apply online. Check the step-by-step process:

  • fill in the online application, in which you must fill in about a dozen or so fields (depending on the company, these numbers may vary) regarding your personal data, possibly earnings or employment;
  • provide the bank account number to which the funds from the loan are to be transferred;
  • make a verification transfer – all you have to do is transfer the set amount to your loan company’s account. Usually, it is a symbolic zloty or a penny. The verification transfer secures both the loan company and you – thanks to this the third party will not be able to use your data and will not take the loan into your account;
  • wait for the application to be verified – it often takes only a few minutes.

If the application is successful, the money can be on your account the same day (depending on which application you make and what hours the loan company is working).

Loans without creditworthiness online without a bank account?

Loans without creditworthiness online without a bank account?

The most common condition for getting a loan without creditworthiness online is having a bank account. If you do not have a bank account, you do not want to provide its number, or you cannot make a verification transfer, it may be that the only way to take a loan will be a visit to the head office of the loan company.

Go to the given address or call and find out everything. You may be able to use e.g. postal order.

How do you find loans without creditworthiness?

How do you find loans without creditworthiness?

Of course, you can find online loan offers mainly on the internet. To help you analyze the conditions of individual loan companies, use the tool, which is the payday comparison tool on the Good Finance website.

All you have to do is enter criteria, such as the loan amount or borrowing time, and the system will show you offers tailored to your needs. Thanks to this, you will not have to browse through the pages of loan companies in search of the best offer.

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Commission for granting a loan – what is it about? /commission-for-granting-a-loan-what-is-it-about/ /commission-for-granting-a-loan-what-is-it-about/#respond Sun, 29 Mar 2020 02:50:18 +0000

The commission is a one-time fee, but it can strongly affect the total cost of the loan. This is very important especially in the case of a mortgage loan, where large amounts are involved, which reach even USD 200-300 thousand. But what about cash loans. Can the cost of the commission also be significant then?

What is the commission for granting a loan?


What is the bank commission for granting the loan and does every bank charge it? The bank’s commission is nothing more than a one-time fee that the bank will add to your commitment. It is expressed as a percentage and calculated on the amount of the commitment given.

Bank fees for loans also include payments charged periodically, for example, those used for credit card or ROR account limits with working capital or overdraft.

Bank fees are standard operating fees, the purpose of which is to compensate the bank for the costs it incurs in connection with the loan disbursement. Their amount may vary depending on the total loan amount.

How is the commission charged for the loan?

How is the commission charged for the loan?

The regulations do not regulate the amount of commission on the loan granted. Each bank can define it in any way, but so that the total costs are within the limits imposed on the banks, including by the so-called anti-usury act. It is calculated as a percentage of the sum of the loan allocated.

Do you need a different offer?

Loan amount 100 dollars USD 200 USD 300 USD 400 USD 500 1000 dollars USD 2,000 USD 3,000 USD 4,000 5000 USD USD 10,000 USD 15,000 Repayment Period 15 days 1 month 2 months 3 months 6 months 1 year 2 years 3 years

Representative example:
The actual Annual Interest Rate (APRC) for the online loan offer is 647.33%. Contract duration: 1M years, total loan amount: USD 3,000.00. The total cost of the liability paid in equal (annuity) installments: USD 281.33, the total amount to be paid: USD 3,281.33. The repayment is carried out in 12 equal installments. The calculation was made on March 30, 2020, on a representative example.

Minimum and maximum repayment period: min. 3 months, max. 10 years
Maximum APRC: 1,942.00%

Bank commission and its types

It is a mistake to identify the commission as a single fee, charged only when granting the loan. All credit fees and commissions can be divided into several types:

  • commission for granting a loan – charged when withdrawing a loan to the client’s account or to own hands, possibly subject to crediting and adding to the principal and interest installments;
  • commission for early loan repayment – early repayment of funds borrowed from the bank sometimes causes the lender to charge a commission to compensate for the loss of part of the interest in earlier repayment (it can be from 1 to 5% of the amount of principal repaid);
  • commission for processing the loan application – charged less and less, identified with the preparation fee, paid by the client before granting the loan decision.

Commission on cash loans


Cash loans, which are usually short-term liabilities, will have higher commissions because thanks to this the bank can earn more on the liability.

Therefore, the cash loan commission can take a value from a few to even a dozen or so percent depending on the bank offer. However, it happens that the bank gives up this type of payment. In this case, the commission is 0%. These offers can be very beneficial, but they carry some risk.

What is the commission on a cash loan?

There is no unequivocal answer to the amount of cash loan commission, as it is variable and depends on the bank’s policy. Are you looking for a loan with the lowest commission? In that case, the following statement prepared by us will definitely help you.

Much depends, however, on the amount of the loan. For example, the commission on a loan equals 0% if it exceeds USD 15,000. dollars. In the example given by us, the commission at Bank Good Finance is already significantly higher, which is even a dozen or so percentage points.

Of course, this does not mean that the Good Finance loan will be the most expensive. Much depends on the interest rate on the loan, so when comparing individual parameters, it is worth paying attention to the total cost of the loan.

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Insurance loan – is it worth it? /insurance-loan-is-it-worth-it/ /insurance-loan-is-it-worth-it/#respond Sun, 23 Feb 2020 04:13:42 +0000 We insure your home, car and our loved ones when they go on holiday abroad. Few people think about such things as credit insurance until the bank itself does not force us to buy such a policy. The question is what is credit insurance, is it mandatory and does it make any sense to buy it?

Credit insurance what is it?

Credit insurance what is it?

Credit insurance is one of the most commonly used forms of debt repayment security. It can become extremely useful when you find yourself in a difficult financial situation (e.g. you lose your job or health), or when you run out and your family has to deal with repayment of the remaining part of the loan. In the past, bills of exchange, sureties, and pledges played a similar role.

A loan with insurance is most often offered to people whose financial situation is unstable or their debt is taken for a very long period (e.g. in the case of a mortgage).

The insured loan is primarily to give a sense of security not only to the debtor but also to the bank – he is guaranteed that in the event of a specific event, the insurer will repay the remaining part of the debt on behalf of his client.

Does credit insurance have to be mandatory?

Does credit insurance have to be mandatory?

The bank has the right to require us to take out insurance when we do not meet all the conditions to receive this loan. An example is the low own contribution – banks often agree to grant loans to people who have not been able to collect all the amount needed, but in exchange for the risk incurred, the client must buy additional collateral.

Therefore, the question of whether to take out a loan with insurance should be answered by the customer himself, and the bank cannot force him to do it.

The loan offer is often constructed in such a way that it would not be profitable for the customer to contract without insurance. In this case, the bank usually imposes a higher margin or commission.

Cash loan insurance

Cash loan with insurance is definitely less common than, for example, insurance with a mortgage loan. This is mainly due to the length of the period for which the commitment is made. In the case of cash loans, it is usually up to 5 years, while for mortgage loans we talk about 20, 25 and sometimes even 30 years.

Banks are increasingly constructing two offers for one loan – with and without insurance. In most cases, a loan with compulsory insurance is promoted, which is usually much cheaper and has a lower interest rate

The customer can, of course, take advantage of the loan without insurance, but this involves additional fees.

How does cash loan insurance work?


It really depends on which insurance you choose. There are three most common types of insurance:

  • Life insurance.

In the event of the borrower’s sudden death, the insurer repays the balance of the loan. He does so at the written request of the deceased’s family or bank and after presenting the necessary documents confirming the borrower’s death (e.g. death certificate).

  • Insurance against illness or permanent disability.

The insurer repays the remainder of the loan if the borrower suffers a permanent bodily injury that prevents him from continuing to work. The liability is repaid only after the borrower submits a written application, together with documents confirming invalidity.

  • Insurance against job loss.

The loan is repaid if the borrower loses his job, but not because of him. Then the insurer does not pay the entire remaining amount, only 6 or 12 subsequent installments. To pay the insurance you will need documents that confirm the termination of employment, e.g. a work certificate.


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Credit promise – what does it mean and what does it mean? /credit-promise-what-does-it-mean-and-what-does-it-mean/ /credit-promise-what-does-it-mean-and-what-does-it-mean/#respond Thu, 13 Feb 2020 04:09:38 +0000 Simply put, a promise is a document confirming the commitment to perform a specific action. In this case, it is the bank’s official promise to grant us a loan for the amount requested. It then takes the form of a written certificate, which has the seal of the bank where we want to make a commitment.

What is a loan promise?

quick money credit

Therefore, the basic purpose of a credit promise is to confirm the creditworthiness of the consumer. If we want to buy a property using a mortgage, the seller has the right to ask us to extend the promise.

Thanks to such a procedure, he will not lose valuable time for the client, who the bank may refuse to grant a housing loan for some reason, as a result of which a specific investment will not be purchased.

If we are planning to buy real estate, it is worth going to the bank to calculate our creditworthiness and give us a promise. With such an official certificate, it will be much easier for us to find a seller who is willing to sign a contract knowing that we are able to repay this contract, we have cash or we have at least a promise.

How much does the credit promise cost us?

quick money credit

A few years ago, the promise of credit was treated as a rare form that only distrustful and sensitive customers of the bank asked for. In such situations, the cost of this document ranged from 50 to 300 USD. The fee was charged primarily for the time that analysts devoted to thoroughly analyzing the application.

Fortunately, the modern credit market has completely different laws. What has changed the most is probably customer service standards, which have increased significantly. Additionally, access to databases such as the Credit Information Bureau or KRD Register has been simplified.

Thanks to such possibilities, analyzing a loan application is a less time-consuming process than it was a few years ago. The promise of credit is currently used as the basic element of documentation made available to clients. Most banks in Poland do not charge fees for issuing it.

Credit institutions like this solution best, because it is the free issue of such certificates by banks that is the only way to get new borrowers.

Does the promise guarantee us a loan?

quick money credit

Unfortunately, we can often find the situation when the bank promise issued by the bank turns out to be incomplete.

Such accidents are extremely undesirable both by the seller of the apartment, who demanded confirmation of the consumer’s creditworthiness, and by the potential borrower, who believed that the bank would grant him a mortgage and paid a non-refundable deposit. For this reason, it is worth being aware that the promise of a loan is not a guarantee of obtaining a loan for an apartment!

When does the promise turn out to be non-binding?

There can be many such reasons, however the most frequently noted include:

  • Change in the financial situation of the borrower.
  • The appearance of new (negative) information about the borrower in KRD, BIK or BIG.
  • Introduction of new legal regulations for banking institutions.
  • Refusal to grant a loan for a specific property.

One hundred percent certainty about granting a housing loan is given to us only by a positive credit decision. A promise is a document whose purpose is to temporarily confirm the customer’s creditworthiness to pay a specific amount of liability.

Which banking institutions will promise us?

Which banking institutions will promise us?

Most banks on the Polish market grant a housing loan promise. Today, it is often crucial to get a preliminary decision on the customer’s creditworthiness. The reason for this is the change in the housing market, where sellers have significantly increased the level of security when selling their property.

Almost each of them requires confirmation of the possibility of paying back their investment, if only to check if it is worth entering into a contract with a given buyer. Some banks issue a promise of credit not to a specific property, but to a specific loan amount.

Credit analysts estimate if a given customer will be able to afford real estate worth 500,000 USD. such promises are issued faster, however, they are often unspecified as to the specific property, and thus – unreliable.

However, some banks issue full promises, which confirm the granting of a loan for the purchase of a specific property. To obtain it, you must provide all necessary documents regarding the property you are buying. Such a promise is more difficult to access but reliable.

Contents of the credit promise – what does it contain?

The binding nature of the promise depends mainly on the detailed content of the document. If it contains only information about the client’s ability and the type of credit he can count on, unfortunately it can be a non-binding declaration. Therefore, such promises are treated as estimates.

On the other hand, if the loan promise is accompanied by any documentation regarding the property, including the area, market information, specific price and entry in the land and mortgage register, the bank will not be able to withdraw in such a situation.

What to do if you do not get a promise for a loan?

The most important is to thoroughly analyze your financial options. When we know that we are not able to deal with regular payments, e.g. for bills, it is not worth it, and you should not even apply for a high loan, so that you do not cause unnecessary problems afterwards.

However, if we are sure of our financial credibility, it is worth making a reliable valuation of the property that we want to purchase.

If for some reason the bank does not want to sign a loan promise, the customer does not have to wring his hands and give up further attempts. Financial specialists recommend, however, applying for a credit decision, and not making further requests for a promise.

A good solution will also be to make an advance payment for the purchase of real estate, because if you do not grant a loan from the selected bank, the amount will be returned to us. This entry should be included in the clause of the document confirming our payment.

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Is it worth fighting for another USD 100 loan? /is-it-worth-fighting-for-another-usd-100-loan/ /is-it-worth-fighting-for-another-usd-100-loan/#respond Wed, 12 Feb 2020 04:06:41 +0000

I have never been a cherry hitter. I didn’t go for every bank promotion to take advantage of a cash bonus or gadget (e.g. power bank or smartphone) and whenever possible, give up my credit card, close my account and look for another opportunity.

On the other hand, it is also difficult to include me among the bank customers who are loyal to one institution from the first job to the grave board. On the contrary, I have changed my personal accounts (and the banks that run them) several times.

Now I have decided once again that you need to change the account bank. As always, I started searching from comparison websites.

Checking dozens of accounts


After some time (and checking dozens of accounts) I already had a shortlist of banks that particularly interest me. Looking more closely at them, I noticed that some of them are carrying out promotional campaigns in which people who set up a personal account offer a cash bonus.

Or maybe you could earn something more by changing your account? – I thought. Immediately, however, a second thought occurred to me: is it worth it?

One can say that of course, because USD 100 is not a road. The thing is not how much you can earn, but what you need to do to get the bonus. Why? For a simple reason: the bonus is paid out a few months after the account was created.

During this time, the account must not be fallow – the banks speak outright, reward those customers who either top up the account with a certain amount, make a debit card transaction for a certain amount, or meet another (usually easy) requirement. How does this work in practice? I will show on the example of two promotions:

Good Finance and Account Worth Recommending Honest Bank. The first will last for several months, and the second has just ended.

USD 100 for USD 1,000

USD 100 for USD 1,000

Persons who between July 2015 and November 2016 did not have or were not co-owners of any of the Direct, Comfort, Premium, Classic, Student personal accounts can participate in the promotion, under which the bank pays USD 100 bonus.

However, the stake is not paid immediately after opening the account (this is the first condition for receiving the prize).

The second condition is patience – the bonus will be paid until the end of July 2017, and the third – activity. Before the bonus payment date (specifically until the end of June 2017), you must use a debit card issued to a Direct Account or Comfort Account to make non-cash transactions for at least USD 1,000.

What do we get in return? Free (and unconditionally) account, with free internet transfers, the possibility of earning at tips, a good mobile banking application and a fairly decent interest-bearing savings account (2% per annum).

The bonus will be transferred to the savings account. Minuses? There are two. The first is the charge for a debit card, which is not charged if you use it to make monthly cashless transactions for at least USD 300 (otherwise the bank will charge USD 7). The second – slightly larger caliber – are the costs of withdrawals from ATMs.

We will withdraw cash for free from Good Finance and from Honest Bank network devices. For withdrawals from other devices, only the first transaction of the month is free, and each subsequent one costs USD 2.50.

Honest Bank, i.e. fund your account, and USD 100 will be given to you


The promotion at Good Finance ended on November 30. There was also 100 USD to take. However, the conditions to be met were slightly different.

During the promotion period, it was necessary (obviously) to set up an account with Visa card and electronic banking services Cooperative Banking, and in December and January to provide income (at least USD 1,000 per month).

By February 20, you need to check that the bonus has been awarded to us, and by February 27, complete your account number in the space provided. The bonus will be paid out by March 10, 2017.

What in return? First of all, a free personal account with an interest rate (this is a rarity) of 4 percent. per year (it’s already a real white crow). Internet transfers and Visa cards are also free (also unconditionally).

A spoon of tar in a barrel of honey? Yes it is. It is a commission for withdrawals from ATMs other than those belonging to Honest Bank and Good Finance, it is 3 percent. transaction value, a minimum 5 USD.

Is it worth fighting for USD 100?


As the examples above show, if you want to get a USD 100 bonus from a bank, you have to earn it. It is clear. After all, banks care about active clients who at least regularly fund their accounts with receipts and use the card.

It should also be remembered that by participating in the promotion, we agree to its terms. For example, a Visa card is assigned to a Promotional Account Worth Recommending.

Its advantage is that there is no charge for using it, and the disadvantage is that we will pay a commission for withdrawals from ATMs other than those belonging to the bank and Good Finance network. A Good Finance card is also offered for this account. It costs USD 7 a month, but withdrawals from all ATMs in Poland using it are free.

And we can’t always spend time finding a free ATM. Sometimes, we have to urgently withdraw, and there is no free ATM in the area. For example, paying out e.g. USD 300 with a Visa card once, we will pay up to USD 15 commission. You can find more examples like this.

Thus, the bank bonus should not be the most important factor on which we decide to make use of a given offer. We should treat USD 100 as a nice addition and something that will finally convince us to choose this particular account.

If, however, you plan to close the account after receiving the bonus and you do not want to use it actively, then you should consider whether the skin is worth the layette, or otherwise – whether the costs will be greater than profits. I changed my account. I hope it was a profitable decision.

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Cash loan refinancing – how do you transfer a cash loan to another bank? /cash-loan-refinancing-how-do-you-transfer-a-cash-loan-to-another-bank/ /cash-loan-refinancing-how-do-you-transfer-a-cash-loan-to-another-bank/#respond Tue, 11 Feb 2020 03:40:29 +0000 The decision to take a cash loan is often made under the pressure of quick access to additional money. Unfortunately, in such situations, we often choose not the cheapest, but the most easily available cash loans.

Such offers can significantly exceed the borrower’s household budget every month. It is worth considering refinancing your loan. What is it about and what conditions must be met in this case?

Credit refinancing – what is it?

Credit refinancing - what is it?

Poles willingly use consumer loans, including cash loans, for the implementation of various plans and investments. The Credit Information Bureau reports that in May 2019, banks and cooperative savings and credit unions granted consumer loans in the amount of USD 7.786 billion.

Compared to May 2018, lending institutions granted significantly higher limits on credit cards – the increase is estimated at 27.6 percent. There were also more consumer loans – their value increased year-on-year by 8.9 percent.

It follows that we are eager to take out cash loans. Often, a cash loan is an alternative to mortgages, for example when the customer wants to renovate the house or flat without completing the mortgage or finish the construction.

However, whenever you take a cash loan, it’s worth spending time analyzing all elements of the loan offer and choosing the best one possible. But even when we do it, it may happen that after a few months of paying off loan installments, there will be much more interesting consumer loan offers on the market. You may then be interested in refinancing your cash loan.

If the customer is not satisfied with the loan he has taken and knows that he is paying over each installment, it is worth looking for an alternative solution, which can be refinancing a cash loan. Most often refinancing concerns mortgage loans, but it is also possible to use it for cash loans. This will reduce the monthly fees for the repayment of financial liability.

Refinancing a loan is nothing but transferring your cash loan to another bank, which has many advantages. First of all, thanks to this you can reduce your monthly loan installment. You can find current offers of the best cash loans in our ranking.

Refinancing will also prove beneficial if the customer has to pay an inadequately high margin for the loan. The reason for changing the lender may also be other factors, such as low quality of service or negotiations on lowering the installment that has been refused.

Can you refinance any cash loan?

Can you refinance any cash loan?

Not every cash loan can be converted into a refinancing loan. This is not a popular operation, unlike mortgage refinancing. The final decision whether a bank decides to refinance a cash loan depends on the individual criteria recognized by the bankers.

The best solution will be to choose several attractive refinancing loan offers and send banks inquiries about the possibility of refinancing a cash loan. Our free calculator will definitely help you calculate your monthly installments.

How do you transfer a cash loan to another bank?

In fact, the transfer of a cash loan to another bank involves early repayment of the liability at the current bank and continuing its repayment at another financial institution. From the technical side, the matter is not complicated.

The new lender provides financing to the client who repays the current, unwanted loan. This money is used to pay back the loan in advance. The liability itself is transferred to another bank mainly to pay less under each principal and interest installment and to pay less credit costs in total. However, this is not always the case, which can be a loan refinancing trap.

Actually, cash loans can be transferred to other banks in two ways:

  • through a consolidation loan, which will allow you to get extra cash;
  • by taking a new, cheaper cash loan at the selected bank for refinancing.

In practice, refinancing a cash loan will require the customer to apply for consolidation or financial loan at the bank that currently has the best loan offer.

The transfer requires the simultaneous repayment of a previous loan at another bank. The repayment operation is carried out by a new creditor for the benefit of the previous one.

In what situations is it worth transferring a cash loan to another bank?

In what situations is it worth transferring a cash loan to another bank?

There are many reasons that will justify refinancing your cash loan. The main goal here will be to reduce the cost of lending, among others by lowering the interest rate on cash loans.

Customers wondering when it pays to transfer a cash loan to another bank and use refinancing should know that it is worth doing it when:

  • the monthly burden of repaid capital and interest installments is too high for us, and the bank does not want to negotiate with the borrower the existing conditions, including bank margin amount;
  • the borrower pays interest on the loan calculated according to the bank’s extremely high margin, which is disproportionate to the margins applicable in other banks;
  • the interest rate of the cash loan being repaid at present is much higher than the interest rate on the loan offers that interest the client ;
  • the level of customer service at the current bank leaves a lot to be desired.

Whenever loan conditions in many banks change in favor of customers, e.g. as a result of record-low interest rates occurring in the country, you can either negotiate the terms of the previously repaid cash loan or decide on its favorable refinancing.

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How to check your financial standing? – Repayment of Loans /how-to-check-your-financial-standing-repayment-of-loans/ /how-to-check-your-financial-standing-repayment-of-loans/#respond Fri, 24 Jan 2020 03:42:00 +0000

Your credit history is a picture of all your financial obligations. It is 100% reliable – information to financial standing is provided by banks and credit unions. It can be good, bad or you may not have it at all.

Lack of credit history can significantly impede obtaining a loan. That is why it is worth showing banks that we are able to pay installments on time and have finances responsibly. So let’s start with a credit card, for example, to positively build your path to getting a loan.

The Good Finance Investment reports that 90% of the data collected in its database presents timely repayment of loan installments.

The remaining 10% of Poles do not belong to reliable borrowers – they are in arrears with repayment of their obligations or pay installments late. And which group do you belong to?

Credit History

Credit History

For your credit history to be attractive to the bank, it must have the right number of scoring points. This is information for banks about the degree of risk they take on by lending you funds.

Customers can see it in the form of stars – from 1 to 5, and banks in points – up to 631. Factors affecting their number are primarily timely repayments and the number of loans. What matters is not only the loans you take out or the installment purchases, but also all guarantees.

A positive credit history is one of the factors that affects the bank’s consent to grant a loan. The current personal and professional situation, income, number of persons in the household as well as credit activity and creditworthiness are also taken into account.

Data in financial standing


The story presented in financial standing is the main source of customer credibility for banks. It contains information about delays in repayment of the debt or any other episodes that may affect the negative credit decision of the bank.

We may be unaware of some of them or they may simply be wrong. That is why their verification is so important, especially in the case of people who quite actively use credit cards, installment purchases or have many outstanding loans on their necks.

Who can check?


The Act on financial standing specifies that access to data contained in the Good Finance Investment shall be granted to authorized institutions and consumers themselves – provided they check their data.

Article 105 para. 4 of the Banking Law says that information about loans being repaid is processed by banks and financial standing without the consent of the client.

This is justified by the need to assess his creditworthiness and credit risk analysis. Not only banks and credit unions that cooperate with financial standing have such a right.

They are also owned by courts and prosecutor’s office and the borrower himself. Everyone can only check their data because information about third parties is protected by banking secrecy. In such cases, notary authorization is required.

How to check?


There are several options for checking your financial standing report. They can do it online at, in person at the financial standing branch in Warsaw or via post or bank.

One way is to set up an account on the financial standing website. After registering at, select an account and confirm your identity – scan or send a photo of your ID card or sign a document with a qualified electronic signature.

You can also choose the slowest verification method, i.e. a registered letter with a return receipt. You will receive a code that you will have to enter in the appropriate field.

Customers can choose from three types of accounts: Trial, Basic and Premium. The first one is completely free and gives you the opportunity to use the full version for 60 days for free.

The Basic Account allows you to check and download the financial standing report free of charge with details of all credit obligations. An additional charge is, however, subject to checking the Plus Credit Profile (USD 36), financial standing Pass (USD 23) and receiving financial standing Alerts (USD 19). Premium account, paid 79 USD / year, allows you to use all these options – generate 12 reports and 3 financial standing Pass certificates.

It is worth getting acquainted with the data appearing in the Good Finance Investment.

Usually, in the world, there may be errors in them that can be an obstacle to taking out a loan and which need to be clarified and corrected as soon as possible. It is worth being credible to the bank and ensuring that your credit history is positive.

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