Everything you need to know about revolving credit card zero.

Revolving credit is one of the most accessible banking services and one that makes life easier for French households. According to surveys, as many as 200,000 individuals benefit from a monthly cash reserve thanks to this type of loan. This sudden fame is mainly due to the various advantages offered by this loan, in particular its flexibility by the fact that it is a credit without proof. In this article discover the advantages of revolving credit offered by credit card zero.

How revolving credit works

How revolving credit works

To begin, it seems important to know what a revolving credit is. It is a loan without proof, which is capped at 5,000 USD, or even 6,000 USD at some online banks. It is reimbursed over a maximum of 5 years. The credit contract remains customizable according to the different possibilities of repayment by borrowers. In any case, it is a small loan for small incomes. Which is its main advantage.

It is available for those on a modest income as well as those who are fairly well off, for the unemployed as well as for those on fixed-term contracts. You just have to adapt the amount to borrow according to your borrower profile. For example, for the unemployed and those on fixed-term contracts, banks will be easier to convince if you ask for a loan of less than 3,000 USD.

As mentioned above, the revolving credit is a reserve of money without proof. As such, it does not require proof of use as is the case for the appropriations allocated. You can manage the amount you borrow as you see fit. It can be assigned to a personal or professional project, or even divided into several parts for the realization of several projects at the same time. This ease of management has attracted many individuals.

To this is added the operation only of this kind of banking service. In fact, unlike other bank loans, the amount you borrow will not be released all at once. It will be added to your account every month. Hence the definition of “money reserve”.

The management of the capital borrowed under a revolving credit will not be complicated. The banks transfer the agreed amount every month to your checking account. You can collect it from the bank’s ATMs using the withdrawal cards. You can also use it for everyday expenses by using your withdrawal card directly. It can be for online shopping or checkout in department stores.

With digitalization, access to revolving loans is a little easier for borrowers. Depending on the organization, you just need to fill out an online form to do this. Banks only ask for standard information: names, first name, type of loan, desired repayment term, requested capital, etc. Additional supporting documents supporting the request must be sent by Le Dant to the bank’s offices.

These include identity documents, residence certificates, bank details, insurance, etc. Nowadays, banks are able to send you an answer in principle in less than 24 hours. This can also speed up the availability of funds, despite the obligation to comply with the 14-day withdrawal period.

Thanks to this digitalization, the cost of revolving credits is being lowered today. Online banks do not charge any underwriting and credit management fees. This has an impact on the APR of the credit.

The revolving credit offer offered by Alvanted Bank

The revolving credit offer offered by Alvanted Bank

The Luxembourg bank Alvanted Bank offers its customers a credit card offer linked to a revolving credit called zero credit card, so contrary to what one might think the credit revolving of the card is not at 0 % but most of the fees linked to the card are $ 0.

The main advantages offered by the zero credit card

  • The customer will benefit from a free gold mastercard card for life
  • The borrower will benefit from a credit permanently available thanks to his card
  • You can make a deferred payment free of charge for your purchases
  • Your travel insurance will be included and free
  • No fees for cash withdrawals from ATMs
  • No management fees for the card: replacement, opposition, etc.

Regarding the rate for this loan, like most revolving loans its rate can reach almost 20% at a revisable rate.

We recommend you to find the best rate on your credit to use a credit company comparator, for that nothing more simple, it will be enough to fill a form with the type of loan that you want, the duration of repayment and the amount, you will need to complete with some personal information, then validate. Thereafter you will receive the best offers from financial institutions according to your profile, you can save up to several hundred USD.