A revolving credit remains primarily a credit. Receive your quotes online quickly! So, as with any credit application, we must complete a file with our comparator below. It is probably also to support this point that the official denomination voluntarily supports the word "credit", unlike the old names that put especially the side "reserve money".
Two different ways to obtain a revolving credit.
Due to its specificity, revolving credit does not require as much precision as a conventional credit. In fact, there are two cases of underwriting.
Either you are already a customer with the organization offering the line of credit, and requests and subscriptions can go very quickly, either, you are unknown to the finance company, and the deadlines will be substantially the same as for a conventional credit. In this second case, you will have to go through the online simulation exercise, then fill in a form. Then, you will have to print, fill out and mail the complete file, with the required supporting documents. Finally, the finance company will come back to you with its final agreement or refusal. From this moment, you will have the funds.
The advantage of taking out a revolving credit with your bank lies precisely in this period. As you are already customers, entry forms are often useless. You are known to your establishment. And, with your codes allowing you to join your online customer area, you can make the request directly. The saving of time is appreciable. And that is also why organizations like Bankate, or Bankcost, are able to react very quickly. And even more if you are already a customer of CreditCole or Credither respectively.
Be careful though, do not confuse demand and acceptance! It is not because your application has been validated on the basis of the figures you have given, that the funding will be accepted. As stated above, revolving credit is primarily a credit, and is therefore subject to the same rules regarding indebtedness. To complete on this point, do not confuse either agreement in principle and final agreement.
Agreement and agreement in principle.
Many websites mean that they agree to issue you a revolving credit, in principle. That is, after you have done an online simulation. But things may differ once you provide them with your vouchers. Indeed, several reasons can push a financial institution to refuse to grant a credit;
- Figures that do not match. The revenues noted on the simulation are different from those declared on the tax slip;
- Occupational situations considered precarious or unstable. Thus, if you are self-employed (self-entrepreneur, artisan, self-employed worker ...), the inherent risk calculations are not the same, and it is common that you are asked two to three years of hindsight on your activity;
- An entry in the Eicredit banking incident files, especially the credit report (FICP);
- A debt ratio considered too high;
So do not rely on online simulators to accept your credit application. They can be very reliable when it comes to calculating the amount of a maturity from a borrowed envelope. But this is limited to that.
However, if you are in an emergency, get closer to your bank. It is still the one who will react as quickly as possible. But in doubt, do not hesitate to put several irons in fire, constituting various file. In addition to comparing products and costs, you will also gain in contact.