Long-term loans on the card

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The microcredit company VAYVND issues microloans to individuals online and in branches.
The microcredit company FinaGuru issues short-term and long-term online loans to individuals. The organization does not have a branch network; it operates remotely via the Internet.
Creditnice is a microfinance company operating since 2013. It specializes in loans with online processing, including to pay for purchases from partners; it also issues virtual credit cards and provides credit lines.
Creditify is a service for issuing urgent online loans to a bank card. You can take out a loan on a card from this company for various purposes. Income certificates and guarantors are not required.

Long-term loans on the card

A long-term loan on a card is similar to a bank loan and has better conditions compared to short-term microloans. You can borrow a large amount of $30,000 or more for a long period of time and repay the debt regularly in installments. Most often, payments are expected once every 2 weeks or weekly, but there are also monthly payments. Without collateral, you can get a maximum of $100,000 for up to 1 year. The average rate is 0.3%–0.5%, but not more than 1% per day. After approval, the money is instantly credited to the card.

How to increase your chance of approval


The chances of receiving a positive response to an application for a large loan increase if credit risks are reduced, that is, there is collateral, a guarantee, proof of income, and a good credit history. Regular clients and borrowers who fully meet the stated requirements can also count on the loyalty of MFOs. It would be a good idea to provide personal information without errors and in full.

Advantages and disadvantages of large loans


Long-term microloans have their positive and negative sides.

Advantages
You can fill out an application online at any time of the day, rather than going to the office during business hours
A long lending period allows you to repay the debt in small installments rather than repay the entire amount at once
A long-term loan on a card will help you urgently solve financial problems, rather than borrowing from relatives or friends
MFC and MCC are loyal to the client and do not put forward strict demands
Low rate ensures less overpayment

Flaws
Long application processing compared to a regular short-term microloan before payday
There are fewer such offers on the market; not all MFOs provide long-term loans
Collateral will be required for a loan amount of more than $100,000

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