Types of credits
Credits to the consumption
They are those that we can obtain in the credit companies to finance buys of high quantity to which it is not possible to face otherwise, or that have been unexpected. In fact this name corresponds to the eternal confusion between credit and loan. This way, in this case, rather, there are loans to the consumption.
These credits also offer them financial companies that in fact are not banks but they endorse other commercial companies. For example the credits for buy of a vehicle they are offered usually by the financiers of the concessionaire or of the mark. The guarantees of these credits are only personal guarantees or payrolls direct debitings.
Another very common case of credits to the consumption is the one that there realize the big chains of large supermarkets or the big surfaces when we are financed by the most important buys (computer, TV, air conditioning, etc.) to 6, 12 or 18 months. From this moment we will have to go paying the quotas of the credit as better it is convenient for us or we prune. They usually use these products to promote their own sales for example, without receiving interests (credits to 0 %).
Credit line
It consists of a quantity of money that the bank puts at our disposal in an account, of which it is possible to choose to have or not. From the moment in which he gets ready of the above mentioned credit line they begin to earn the interests in favor of the bank. An example of these credit lines there are the pre-granted loans that offer us the banks according to the risk that we suppose to them, or also the commercial agreements between companies and banks.
Credit card
The credit cards are the most flexible type of credit and more popular. They give freedom to have the credit limit of the card, which can come to 3000 or to 6000 euros even, with the maximum freedom. At the time of returning the debt also many options are allowed to facilitate it, as there are entire amortization, equal period every month of a minimal quantity or period that represent a certain percentage of the entire debt. The principal disadvantage of the cards is that the interest rate that is paid exaggeratedly highly, even of 25 % TAE.
Commercial credits
Namely letters, notes, payments or cashings in term, etc., that the businessmen use. Also it can be considered to be of course credits position that these commercial effects finance the managerial activity in a certain term (30, 60, 90 days). They can include the payment of some interest or not.