Borrowing money can be a risky, time-consuming and emotional process. But knowing who to turn to will help you make the best decision to meet your financial needs.

When you are borrowing money, it is important to understand how much the different credit service options cost and how they work. You also need to know how these costs vary depending on how much time you will need to pay the money back.

That’s what we thought about today’s post! Below you will find a summary of the main personal credit options so that you can choose the one that will serve you the best! See also:

Find out how to get a payday advance online no credit check

Do you need money to pay some bills, to buy a washing machine, or simply to put up with the bills until the next paycheck? Well, know that you are not alone, you may go here and apply for a payday advance online no credit check.

The next payday loan with bad credit is one of the most common types of credit service available. In it, the total amount of the debt is paid for installments directly discounted from the counter-check or from the person’s retirement.

This makes this type of loan have generally attractive interest rates, around 25% a year, with a payout term of up to 72 months. It may seem interesting, however, care needs to be taken before asking for this type of loan.

Can you really afford to be without part of your salary going forward? Is your budget tight? Make your financial control and find out first if, with a lower salary, you will be able to pay all monthly bills.


Bank financing

The financing services aim to assist the person to buy some good, and are offered through the banks. In the case of real estate financing, the interest rate is around 12% per annum, with terms of about 360 months, depending on the assessment of your profile.

Auto financing has a lower payment term, usually 48 months, and an interest rate that is around 23% per year. This credit service option is indicated, as we say, for those who have the objective to buy a car or a house, and it will not work if you only need an amount to keep the accounts up to date.



The credit is the loan known as direct consumer credit. This is because, usually, it is offered directly by merchants at the time of making a purchase. Are you going to buy that fridge? If the store offers this option, you can use the store to pay it in installments. Deadlines are around 10 to 48 months.

As this type of loan offers great risks to those who offer it, interest rates are usually higher. So even if you’re tempted by the convenience of doing everything to buy the refrigerator inside the store, that might not be the best credit service for your pocket.



Overdraft is the easy money you spend without seeing. You are taking money from your account and, without realizing it, you are already in the red paying interest to the bank. And we are not talking about a low rate, but a very high-interest rate of 325% a year.

Just to get an idea, that means that if you owe $ 100 a year to your overdraft, you’ll end up paying $ 325 after all. That is, it’s $ 225 that goes out of your pocket right into the bank, with no benefit to you.


Credit card

Oh, the credit card! A great convenience when it comes to shopping, going to a bar and even paying for gas. Nowadays it is very easy to have a credit card, and if you pay your bills on time, this may even be a good option to help you routinely.

However, for those who live paying the minimum and using the card rotary, this is definitely not the best option. The interest of the newspaper is even greater than the overdraft and can reach 363.9% a year. A very high value to pay for those who are just trying to use a credit service to control spending and put financial life on the track.


Personal loan

Last but not least, we have a personal loan. This modality is gaining strength, especially among those who need small loans for miscellaneous payments.

Currently, you can make the loan online, without even needing to leave the house. The process is very convenient and less bureaucratic than with banks, and anyone over the age of 18 and with work can request and be approved in this credit service. In this modality, the interest rate varies greatly according to the financial, since each company has rules, approval rate, credit analysis, etc.

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