Nowadays speed and convenience are of great importance, so along with banking services – various loans and credit cards – fast credit is becoming more and more appreciated, which is relatively easy to apply due to the advantages provided by the Internet. It is a convenient and modern way of borrowing – you can apply for a loan whenever you need it.
In order to meet the needs of borrowers, lenders provide several types of loans, both short-term and longer-term. SMS credit is also a widely appreciated option.
What is SMS Credit?
The rapid advancement of modern technology forces companies to look for new ways to attract customers, which is why SMS borrowing, which can be applied for in just one text message, is also available for borrowers.
SMS credit on the Internet is one of the fastest credit types – you only need a mobile phone to apply. And as we all know, mobile is almost always available. The text message should be sent to the phone number provided by the lender and include all the required information – both the amount you wish to borrow and the time you intend to repay the loan. Upon receipt of the text message, the lender will evaluate the application and provide an early reply. If positive, the money will be credited to your bank account in a few minutes and you will be able to spend it towards your goals. It is important to remember that you can apply for a loan at any time, but the application is always processed only during the lender’s working hours. However, it is important to note that a large number of credit companies also offer their services outside their normal business hours – practically whenever it may be useful.
SMS credit can be useful in a variety of situations where money is needed as quickly as possible, such as paying an emergency bill or urgent visit to a doctor. SMS credit can also be useful, for example, on holidays – you can apply for it anywhere, even if you don’t have access to a computer and the Internet. It should be remembered that in order for SMS credit to be available on the Internet, you must first register on the website of the selected lender. So – SMS credit is only given to those who intend to borrow again.
What are the main benefits of applying for an SMS credit?
This type of credit has several significant advantages :
• SMS credit can be applied for without having to visit a credit institution;
• It is granted without pledge, surety and countless documents being signed in a relatively short time;
• In view of the various unforeseen circumstances that may arise, lenders often provide for extensions of the loan repayment term to the borrower’s convenience;
• By meeting all the terms of the agreement and repaying the loan within the term specified in the agreement, the lender will offer a larger available credit line that allows you to borrow more money and pursue more ambitious life plans
However, despite the many benefits, it must be remembered that every loan is a liability, so it should be formatted carefully when assessing your solvency .
How to choose a lender?
Currently, several lenders offer the opportunity to borrow, so each borrower can choose the most appropriate loan amount and term. For the benefit of borrowers, lenders offer both short-term loans, usually for 30 days, and long-term loans for larger plans. They can be repaid over a number of months or even years according to a monthly payment schedule. Available loan amounts range from hundreds to several thousand USD, depending on the lender’s terms and the repayment term chosen. Given the wide variety of fast credit offers available, comparing multiple options is essential – so you can make the right choice for your situation.
Here are answers to some common questions to help you make your choice:
• How much money is needed?
• What is the preferred maturity of the loan?
• Which lender offers the lowest interest rate?
• What are the other borrowing conditions?
• What additional options does the lender offer?
If you plan to take advantage of SMS credit, choose a lender that offers this option. You will find information on that particular lender’s website.
No less important is the lender’s reputation – the safest way to borrow money from a reliable and knowledgeable lender that provides excellent service and the highest standards of personal data protection. To be sure you have borrowed wisely, it will not be a bad idea to read other borrower reviews.
Some lenders offer a 100% commission on the first short-term loan, meaning that after the term of the loan has expired, the lender’s bank account only needs to be credited – not more than the amount they borrowed. For example, if you take out 200 USD for thirty days, you will have to return it after the set time. It should be borne in mind, however, that this offer is only waiting for the new customers of the lenders – the interest rate for recurring loans is calculated. So, this also applies if you decide to borrow SMS for the second time.
SMS credit on the Internet is one of the fastest credit types – you only need a mobile phone to apply.
Another aspect to consider when planning your first borrowing is that the maximum amount available to new clients is usually lower than to those who are borrowing again.
Some lenders have established a customer loyalty program to showcase their interest in long-term cooperation by offering discounts on loan commissions as well as other attractive offers.
What do I need to get an SMS credit?
Applying for a loan requires:
• Computer and Internet connection;
• Valid email address;
• An account with a bank operating in Latvia;
• Mobile phone;
• One euro cent to confirm registration;
• Few minutes
If you borrow again and want to apply for an SMS credit, you only need a mobile phone.
Before applying for a loan, make sure you meet the lender’s terms and conditions – make sure that you meet the age-restrictions and other criteria. Usually loans are granted to residents of the Republic of Latvia who have a good credit history and regular income. As for the age limit – SMS credit is most often available on the Internet from the age of 20, but there are also lenders who provide their services to younger or, on the contrary, older borrowers.
How to apply for a loan?
If you are borrowing with a particular lender for the first time, you must first register on their website with all the required information – correct personal data and information about your occupation and income level. The application should also specify the loan amount and maturity. To complete the registration, transfer $ 0.01 from your account to the lender’s bank account. This is required for security purposes so that the creditor can verify the accuracy of the information provided, including the bank account.
If you submit your application within the lender’s working hours, it will be processed within a few minutes. In case of a positive decision, you will receive money in your bank account very soon. It should be noted, however, that the speed of the transfer depends to a large extent on the activity of the bank – the fastest way to receive money is if the transfer takes place within one bank.
If you want to borrow again, you will need to log in to the user profile you created at registration and apply for the loan you want. In addition to applying for a recurring credit, the user profile also provides up-to-date information on current credit obligations, monthly payments as well as special offers that will allow you to borrow at more binding terms.
If you want to apply for a loan via SMS, register your phone number in the user profile and read all the relevant information about SMS credit:
• What information should be in the text message?
• To what number should it be forwarded?
• What are the costs of sending an SMS?
Once you understand the terms of the loan, you can apply for the loan of your choice.
If you change your mind over time and want to try the services of another lender, you will have to go through the entire registration process again – register on the lender’s website, provide all the information you require, and pay the registration fee.
How Secure is SMS Credit?
You often hear the question – Is it safe to apply for a loan via text message? It is known that a mobile phone may fall into the hands of other persons who may misuse it.
To protect yourself from unpleasant situations:
• No SMS credit information is stored on the phone – neither the phone number to which the SMS should be sent, nor the passwords or any other details to be entered in the application;
• Always delete any text messages you have sent to apply for a loan
An SMS credit is no more secure than applying for a loan online, unless you are careful to prevent your data from being shared with others.
How to borrow responsibly?
Although SMS credit is available without bureaucratic formalities, it must be handled responsibly, just like any other loan, knowing its capabilities. Otherwise, you risk damaging your credit history. Conversely, a bad credit history may diminish the chances of borrowing in the future – the worse the credit history, the less chances of getting a new loan. Note that data on overdue credit or outstanding debt remains on the debtor list for several years. Lenders have access to these databases and the information available there is taken into account when considering a loan application – a positive credit history is practically the only guarantee that the borrower will meet his obligations.
Before applying, it is important to evaluate the need for it. The loan should not be drawn up if the money is needed:
• To cover unimportant and ill-considered expenses;
• Other loan repayments
It is also important to read all of the terms of the contract and assess both your solvency and any possible consequences of non-payment. If you are planning to apply for a consumer loan, check the information available on the lender’s calculator on the lender’s website. Knowing the planned monthly payment will help you adjust it to your options and choose the optimal loan repayment term.
What if you still can’t repay the loan?
Life is full of surprises – even if a loan has been carefully considered, there may be situations that disrupt good intentions. If there are any circumstances that make it difficult to make your loan payments on time, the best thing to do is contact your lender as soon as possible to reach a mutually acceptable solution. For example, some lenders offer to postpone the loan repayment period. If the loan amount is relatively large, credit vacations are often available – a period in which only interest payments can be made or only the principal of the loan can be covered.
Remember that every lender is interested in recovering the loaned amount, so he or she will definitely want to find solutions unless the borrower himself / herself shows due interest.
SMS Credit – The Fastest Way to Get More Money However, despite its many benefits, it is always important to be aware of the responsibilities that a credit obligation imposes. Match your desires with the options and read all the terms of the contract before borrowing. Borrow responsibly and only when you really need it!