Credits are often preferred for our investments and needs. However, some mistakes made while using the credit can harm us. The following are the lines that we should pay attention to while using credit:
1. Using a Single Bank
Those who want to use credit usually prefer the bank they use regularly. However, according to the credit type to be used, interest rates between banks are very different. For this reason, the wrong choice leads to more repayment.
2. Not Making Comparisons
We need to look at the interest rates according to the expiry after we determine the credit line to use. Although the monthly payments on the long term seem to be very small, the total price difference can be very big. Therefore, it should be preferred by comparing monthly payments and total payment amounts.
3. To Insist On The Short Term
One of the mistakes made when using credits is to think that the credit that is withdrawn as soon as possible will be paid. The people who use credit can not make their payments on time without evaluating their income and expenses. This causes the credit note to fall.
4. Choosing The Wrong Course Of Credit
We need to use right course of credit according to what credit we need. We need to choose the right credit for needs. For example; We need to use a housing credit to get a house.
5. Using Credit More than Solvency
Credit preferences, which have more overpayment than we will pay, also put the borrower in trouble. On average, payments should not exceed 40% of our revenue.
6. Applying Consistently
Credit applicants’ approval usually takes place during the day. However, in some cases it can last for a few days. For this reason, be patient and expect application results. In unfavorable circumstances, different amounts or different banks can be chosen for credit.