3 keys to get an immediate micro credit

Immediate microcredits are named for their speed of concession, since the companies that offer them usually respond to requests almost immediately and deposit the money into the applicant’s account in a matter of a few minutes . However, there are several factors that may delay the approval and hiring process and may delay the transfer of the mini loan up to two business days. Therefore, if we want to obtain microcredits instantly, it is important to follow the following guidelines:

1. Ask for immediate micro credits within the working hours of the lenders . Otherwise, we may not receive the response to our request until the next business day. In that sense, we can ask for quick microcredits online to several companies to increase the possibilities of approval.
2. Have the documentation prepared . It is important that the documents we send are perfectly legible and up-to-date. If, for example, our DNI is expired, the company will deny our request automatically and we will not be able to request mini credits until we renew it.
3. Apply for quick mini loans to companies that work with our bank . In this way, we will receive the money transfer in a few minutes. On the other hand, if the lender does not work with our entity, we could take up to 48 hours to receive the income from the mini credit.

Taking into account these factors we can get the financing we need in a matter of minutes on the same day. Otherwise it can happen that the transfer of the micro credit takes between 24 and 48 hours in working days to reach our account. To learn more about how to streamline the process of contracting microcredits, we can download the following free guide in which we can know which entity suits us according to the bank where we have the bank account to get the money instantly :

General purposes of the immediate microcredits

Since microcredits do not have an assigned specific purpose, we can use them to cover any need . However, due to its particular characteristics (a low amount, a short repayment term, a quick process of concession …), the most advisable thing is to hire them only to resolve unforeseen situations that surprise us at specific moments of lack of liquidity . For example, in the following cases it may be good for us to request a mini urgent loan:

• Payment of fines : if they give us a fine and we do not have money to pay it, we can ask for immediate micro credits to pay their cost. Also, if we pay it quickly, we will benefit from the discount for prompt payment.
• Payment of invoices : occasionally, spending on electricity or gas can be out of the budget. In these cases, we can finance the payment of the receipt with a micro loan instantly.
• Avoid discoveries : immediate micro-credits can also be used to pay bills before they pass them to us for a moneyless account. In this way, we will not have to face the cost of the overdraft, which can be quite more expensive than a mini loan.
• Celebrations : in specific times of great expense, such as Christmas or Easter, these products can come in handy to buy gifts, clothes, or any other item.
• Urgent medical expenses not covered by Social Security : the immediate microcredit can help us finance medical expenses that are not covered by Social Security, such as an urgent visit to the dentist or the eye doctor.
• Small repairs : we can also contract immediate micro credits to pay for repairs of any breakdown, from a broken appliance to a flat tire.

Whenever we use the money to solve an unforeseen event or an emergency that requires an automatic response and we make sure to comply with the contract conditions, the election will be adequate. However, once we have the money we must be responsible and use it with a head .

How to use the mini loans responsibly?

Although these products can help us overcome complicated situations, we should not use them lightly, since their price is very high. In that sense, it is not advisable to use micro loans as a usual funding source . If we take immediate micro loans too often, we run the risk of becoming over-indebted and unable to meet payments, which would further increase our level of debt and cause us to enter a spiral from which it would be very difficult. get out.

In addition, you never have to contract mini loans if we do not have enough income to return the amount requested plus the fees . In case of default, the companies that offer immediate microcredit apply interest and late fees that increase the price of the product significantly and include the data of the borrower in a list of defaulters, which closes the doors of most financial institutions.

Also, when requesting a micro credit, we should not ask for more money than we need , since in this case we would have to pay more in interest. In addition, we must select a due date after the day we collect our payroll, pension or any other income, as this way we can anticipate possible delays in the collection. If we have enough money to return the personal micro-credit ahead of time, most companies will not charge us for the early repayment.

Can I get instant micro credits with ASNEF?

One of the advantages of the immediate micro credits is that the companies that offer them do not require access requirements as strict as banking entities. In fact, some of them even accept the requests of people who appear in files of defaulters as ASNEF, RAI or EXPERIAN, although logically they will not lend them the money if they do not have sufficient income to repay the mini urgent loan. In addition, companies that grant microcredits without paperwork with ASNEF usually require two additional conditions:

• That the unpaid debt registered in the list of defaulters does not exceed 500 euros (although this figure may vary depending on the lender we go to).
• That it has not been contracted with a credit institution, that is, it can not come from a non-payment of a loan, a mortgage or an overdraft , among others.

If we do not meet these two conditions, it is likely that we can not get microcredits, although everything will depend on the risk criteria of the company we go to. In these cases, we can get financing through home equity loans if we have a home ownership. However, before resorting to these products it is important to bear in mind that, in case of non-payment, we could lose the property placed as a guarantee.