Pay attention! Borrowing money, costs money

What is Revolving Credit?

With a Revolving Credit you can flexibly withdraw and repay money. Handy if you don't know exactly how much money you need and how often you want to withdraw money. You may have the tendency to borrow more and more money because of this. Then it is best to save or look for one first   Personal loan .

You can only withdraw free money within the credit limit of your Revolving Credit in the first 36 months. You do not have to withdraw the amount in one go, but that is of course possible. After that, you are required to make repayments to stay within the maximum term of 180 months.

As of May 1, 2019, the VFN code of conduct requires its members (including PersonalLoan) that a Revolving Credit has a term that does not exceed 180 months. The VFN code of conduct offers consumers the guarantee of clear information and a responsible credit offer.

In the video below we explain the advantages and disadvantages of a Revolving Credit. Borrowing money should be a choice that you support, now and in the future.

Borrow responsibly

With a Revolving Credit, you agree a credit limit with PersonalLoan in advance. You can withdraw money up to this amount for the first 36 months. Depending on your needs and financial options, between $ 7,500 and $ 50,000.

The advantages and disadvantages of a Revolving Credit are explained in the video on the right. You do not borrow every day and it is a decision for the longer term. Know what borrowing money costs.

Borrowing future-proof

No one can predict the future. Neither do you. A lot can change in 3 years. For example, you can have a child or another job, but also dismissal, divorce or debt counseling can have an impact on your financial situation. When you take out a loan, you have to take into account what lies ahead. There may be reasonably foreseeable circumstances that you should already consider with the application. Report this when you run an application.

A loan is a financial obligation that you enter into for a longer period. Therefore choose wisely. Go for a term that is appropriate to your current situation and loan goal, but that is also responsible if something changes in your life.

Features Revolving Credit

It is important to know the characteristics of a chosen loan form, because you are entering into a contract for a longer period (the term of a loan can easily be 5 years). That is why you will find below an overview of the characteristics of a Revolving credit with an explanation. Of course you can always contact us for more information.

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