Credit for the holidays – is it worth it?

The actual Annual Interest Rate (APRC) for the cash loan offer is 53.06%. Contract duration: 3 years, total loan amount: USD 2,000.00. The total cost of the liability paid in equal (annually) installments: USD 131.68, the total amount to be paid: USD 2,131.68. Repayment is in 36 equal (annuity) 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: 120.28%

Christmas is an extraordinary time that requires an appropriate setting. We stand on our heads to plentifully set a festive table, beautifully decorate the apartment, and give our loved ones dream gifts. It costs everything.

When the account is empty, the first thing we think about is credit. We advise on what to look for when taking out a cash loan before Christmas, so as not to enter the new year with debts.

Cash loan for the holidays

Cash loan for the holidays

Cash loan allows you to quickly realize your dreams and plans. It is no wonder that it is this financial product that enjoys great interest every year before Christmas. However, you should remember that a cash loan for the holidays, like any other loan, comes at a cost and additional fees.

That is why it is so important to carefully analyze its costs when choosing a holiday cash loan. Cash loans for Christmas can save us from oppression and make Christmas truly magical, but it can also cause us financial trouble, the consequences of which we will feel shortly after Christmas.

How much do Poles spend on Christmas?

Every year, at the turn of November and December, research is conducted into how much we spend on organizing holidays. According to a report prepared by Delloite last year, each household spent about USD 1,168 on holiday shopping. It is 5.8 percent more than in 2017 and probably a few percents less than this year.

Christmas expenses are not only decorations, gifts and food, but also renovations that we want to finish “for the holidays”, as well as cosmetic treatments and new clothes, thanks to which we will be better presented at the Christmas table.

Who is a Christmas loan possible for?

Who is a Christmas loan possible for?

Cash loan for the holidays is an offer prepared for people whose budget is barely reached, which makes the organization of the star questionable, but at the same time for those who are absolutely convinced that when the holidays are over and life goes back to normal, they will not have problems paying back the loan.

Therefore, income plays a key role here. Holiday credit should be chosen by those with regular income. It is not a good idea for people with a low and irregular income to take out a loan, because then there is a fairly high risk that they will not be able to pay the debt on time.

Where can you find the most-favorable Christmas credit offers?

Where can you find the most-favorable Christmas credit offers?

Nothing prevents you from using money borrowed from a bank or loan company to make your Christmas dreams come true. However, it is important to do it wisely and read it carefully before signing the loan agreement.

It is best to start looking for a loan by looking at the bank’s offer in which we have an account. The offer prepared by our bank may be cheaper than the rest available on the market, and the waiting time for money much shorter. However, if our bank is not able to offer us a loan, it is worth reviewing the offers of other institutions.

A cash loan comparison tool will be helpful, which compiles the bank’s loan proposals for the indicated amount and repayment period, so you can easily and quickly compare which one is the most favorable from our point of view.

In the same way, you can put together proposals of loan companies. It will take only a few minutes, and thanks to that you can save a lot because the differences in the case of the cheapest and the most expensive option can be up to several hundred dollars.

How to take a Christmas loan responsibly?

The main thing is not to act hastily. Therefore, think about whether you really need a loan for the organization of holidays. If you think so, start looking for a favorable loan offer. Remember to pay special attention to such elements as:

  • Loan interest rate – defines the costs of interest on the requested amount of the loan.
  • Commission – a one – time fee added by the bank/loan company when the loan/loan is granted.
  • Preparation fee – usually required by loan companies. This is a fixed amount that must be paid in connection with the loan.
  • Loan insurance – more often banks, rarely non-bank institutions, require customers to take out loan/loan insurance.
  • Fee for postponing the repayment date – an extension of the repayment date specified in the contract is associated with an additional fee.
  • Actual Annual Interest Rate (APRC) – a parameter that takes into account the nominal interest rate and any additional charges (the lower the APRC, the cheaper the loan).

Beware of offers that at first glance are very attractive and admittedly have a low-interest rate, but whose additional costs are very high. Check and possibly ask about all additional costs and fees related to taking out the loan to avoid later unpleasant surprises.


Cash loans and credit rankings

Good Finance, Honest Bank and Fine Bank dominate the October cash loans and borrowings ranking.

Our analysis shows that it is in these banks that customers borrow cash in October 2015 on the most favorable terms. Regardless of whether they already have a personal account or not.

This month we asked the banks to present a cash loan offer for the amount of USD 5,000 net with repayment spread over 12 months. An example of a client is a family of three (parents plus a child) with earnings of USD 4,303 a month “on hand” from an employment contract of indefinite duration.

We asked to split the offer into two groups – for internal clients (with a personal account) and external clients (from this product in the bank – non-lenders). 17 banks responded to our survey. Which bank won the October cash loan ranking?

An offer for an internal customer

In the category of internal customers, we will take the most attractive cash loan in October 2015 at Good Finance . The total repayment amount will be USD 5 325 with a monthly installment of USD 443.75. At Good Finance, an internal customer will not pay a commission for the loan.

A customer of Honest Bank will pay little more during the lifetime of the loan. The total repayment amount for 12 months will be USD 5,385, with a nominal loan interest rate of 5% per annum and a one-time commission of 5%. The borrower’s budget will have to prepare for a monthly installment of USD 448.79.

Fine Bank’s loan was also on the podium. In turn, this bank offers a cash loan with no nominal interest rate. The costs are mainly due to a one-time commission of 9% of the financing provided. The customer will repay a total of USD 5,450 for one year in equal, monthly installments of USD 454.17.

Thrift Bank and Fast Bank also offer very similar credit terms in October.


October list of loans and cash loans for internal customers close Fine Bank, Thrift Bank, and Bank. The latter is the only one in which the total repayment amount exceeds USD 6,000 and the monthly installment is USD 500. This is the result of a nominal interest rate of 9.99% per annum and 13.99% one-time commission for granting the loan.

The best cash loan for an external customer

Interestingly, in the category of loans for customers without an account and not interested in setting it up, the first three rankings look the same as for the offer for internal customers.

The cheapest loans are at Good Finance, Honest Bank and at Fine Bank . Moreover, the loan terms do not change. Statement leader – Good Finance is ready to borrow USD 5,000 at 4.90% per annum, no commission. The external customer will have to return the same USD 5 325 as the internal customer.

Thrift Bank, which does not grant loans to external clients at all, falls out of the ranking. Eurobank with slightly worse credit terms is in the top five of this bank. The customer will have to return a total of USD 5,500 and the monthly installment will be USD 458.33.

At the bottom of the table, the shuffles are also cosmetic. Thrift Bank and Gbank are still the banks with the weakest cash loan offer in October 2015. At Thrift Bank, an external customer will pay a total of USD 31 more than a customer with an account. Fine Bank took the position of Fine Bank among the three weakest suppliers of loans and cash loans.

In October 2015, it’s best to go to Honest Bank or Good Finance. Very good conditions can also be found in Fine Bank and Fast Bank. This applies to both internal and external clients. Banks with a weaker credit offer in October 2015 include Thrift Bank and Gbank.

Loan without Credit Bureau and proof of salary.


 A loan without Credit Bureau and proof of salary is not easy to find, but a few credit options are possible. The article provides more information about credit options without Credit Bureau.

Loan without Credit Bureau and proof of salary – the problem

Loan without Credit Bureau and proof of salary - the problem

A loan without Credit Bureau and proof of salary is problematic in several ways. There are loan offers in which the Credit Bureau is excluded on the capital market. Access to this loan option is provided through the service of a reputable credit broker. The use of such a loan is not cheap. The usual effective annual interest rate for the loan without Credit Bureau is comparable to the usual overdraft facility. Currently (as of September 30, 2013), a Credit Bureau-free loan costs between 11.61 percent and 11.62 percent APR.

The second problem that shows up alongside the high costs is securing credit. Outside of self-employment, loans without Credit Bureau are only secured via a proof of salary. In this case, the proven income must be assigned. Without proof of a secure income from an open-ended employment relationship, the loan search quickly ends up in a dead end.

Recognize risks when looking for a loan

Recognize risks when looking for a loan

The change of the credit intermediary is not very promising. Almost all reputable loan offers for Credit Bureau-free loans refer to the same loan provider from Liechtenstein. Offers that were found in large numbers before the financial crisis – from Ireland or Spain – have disappeared from the market across the board.

The European financial crisis and international political agreements have thinned the market for venture loans. The likelihood of going online with an unfair provider when looking for a loan is high. In the area of ‚Äč‚Äčlegal gray areas, a lot of stupid things are being pushed through credit advertising for extremely difficult credit situations.

Hidden preliminary costs must be expected in the contract or the general terms and conditions. You will also be due if the placement attempt is unsuccessful. It is really expensive to respond to the call for a call on an expensive service hotline. Another typical scam is selling an insurance or savings contract. Reputable credit brokers and the media can only appeal to postpone the loan search until the initial situation has improved.

A credit, no matter how the person concerned behaves, is guaranteed not to be given by “rip-offs”.

Escaping the credit crunch without proof of salary

Escaping the credit crunch without proof of salary

A loan without Credit Bureau and proof of salary is almost always sought out of a desperate financial situation. Nevertheless, not every credit crunch is a “real” emergency. If the loan is sought in an acute emergency, the need is demonstrable. An example of such a situation would be the urgently needed repair of the cooking facilities.

Families with young children in particular have at least legitimate credit hopes when they turn to charitable organizations. Churches and charities, but also some municipalities, have credit facilities available for cases of hardship. Repayments can be made in tolerably small installments. In addition, such emergency loans are always interest-free.

If the loan is sought without Credit Bureau and proof of salary for the rent deposit, the ARGE has ordered the move, the all-clear can be given. In this case, the consortium must grant the loan. It is interest-free and only has to be paid back after employment.

Credit for driver’s license despite Credit Bureau.


The credit for the driver’s license is possible despite Credit Bureau. Depending on the living situation, various sources can be used to finance driver’s license. Unfortunately, the loan request cannot always be implemented without problems and restrictions.

Credit for the driver’s license despite Credit Bureau – classic loan providers

Credit for the driver

The credit for the driver’s license, despite Credit Bureau, is not to be applied for at the house bank. All ordinary credit providers, including the usual direct providers from the Internet, are eliminated. A loan without Credit Bureau is primarily offered by specialist providers. The purpose of such a loan is not tied to a specific purpose. It can be used for the driver’s license as well as for checking account balancing or any other payment obligations

The special loan with Credit Bureau exclusion is advertised particularly by the credit brokerage industry. Direct suppliers who can do without Credit Bureau are only few on the market. In addition to the limited selection of reputable credit options, the loan without Credit Bureau 2013 is no longer comparable to the offers of the past. The USD crisis raised the legal requirements for lending by commercial providers across Europe. Nevertheless, Credit Bureau free loans still offer an opportunity for people who are considered unworthy of credit.

Restrictions on Credit Bureau free loans

Restrictions on Credit Bureau free loans

With the loan for the driver’s license, despite Credit Bureau, various restrictions have to be expected. The maximum amount of the loan is severely limited. On average, only around 3,500 USD are approved as a loan without Credit Bureau. The background of the credit limit is divided into two. On the one hand, the lender’s risk is to be limited. For the international community, the risks of credit defaults, which led to the USD crisis in 2008, are reduced. In addition, the loan can no longer be misused for money laundering without Credit Bureau as easily as it used to be.

Significantly higher loan amounts are now only granted as civil servant loans without Credit Bureau. The credit limit for civil servants is around 7,500 USD. Changes in the requirements for securing loans have also become increasingly common. On the one hand, this leads to an increase in the required collateral. On the other hand, a loan rejection can be expected much faster if the applicant is considered a risk. Loans without Credit Bureau, with active negative entries, decrease significantly. Good credit opportunities only exist with a high income and a completed entry.

Loan alternatives with negative Credit Bureau

Loan alternatives with negative Credit Bureau

A real loan without Credit Bureau is only possible with the aforementioned providers. Nevertheless, there are credit opportunities in which Credit Bureau rarely plays a role. It would be possible, for example, to negotiate partial payments with the driving school. Savings are made even before the class starts. In the course of the training, further partial payments are made. The rest has to be paid just before the exam.

The family could also be addressed. She knows the financial situation and can maybe help you with a small loan. The driver’s license is of great importance for the professional development opportunities. Especially from a position of unemployment, the driver’s license loan can lead to new job opportunities in the long term.

The credit for the driver’s license is possible despite Credit Bureau. But you shouldn’t try to force anything.

Instant loan without credit bureau without co-applicant.


The banks always offer new loan models that are tailored specifically to customers and their wishes and should therefore make a significant contribution to customer loyalty. Because in the meantime the market for loans has become so large and the selection for customers has become so confusing that only the bank with its offers, which is as close as possible to the customer’s request and which stands out with its offers, can survive.

Instant credit is currently in particularly high demand. It is applied for particularly quickly and is therefore quickly available for payment. Banks like to grant such loans, since they are usually small loans that have a good interest rate and for which the risk of default is also very low due to the relatively small loan amount.

But with all the courtesy and advertising of the banks, it should never be forgotten that the banks rely on security when granting loans. You don’t give away money, you just lend it. And this only to customers who have a good credit rating. An instant loan without Credit Bureau without a co-applicant is therefore not possible under normal circumstances.

Why an instant loan without Credit Bureau without a co-applicant is not possible

Why an instant loan without Credit Bureau without a co-applicant is not possible

With an instant loan without Credit Bureau without a co-applicant, there are exactly two components that disrupt the banks. On the one hand, it is Credit Bureau’s missing query that always indicates negative entries. This means that the borrower has not been able to meet its payment obligations in the past and has therefore received a negative entry. For the bank, this means that the money could be seized from the loan or that the bank itself goes away empty-handed in the event of a possible seizure. And she will avoid that.

If you then want to do without a co-applicant, the second security for the bank is missing and it will not agree to the loan. In order to be able to take out an instant loan without Credit Bureau without a co-applicant despite all of this, you have to take a look across national borders.

The loan from Switzerland

The loan from Switzerland

Foreign banks are unable to query the data of the German Credit Bureau. This data is only available to German companies and is not passed on abroad. It is therefore possible to take out a loan abroad without Credit Bureau. This is particularly popular and often done in Switzerland. The Cream Banks have very special loan offers for foreign customers and grant a small loan of up to $ 3,500. All you have to do is prove an unlimited employment contract and a high income.

A co-applicant is usually also dispensed with, so that an immediate loan without Credit Bureau without a co-applicant would be possible in Switzerland. So that the loan can be processed and paid out immediately, you should either go directly to Switzerland or apply for the loan online. If, on the other hand, you choose the route through a credit broker, the payment will be delayed and the cost of the loan will increase, since the broker would also like to earn on the loan.