Interest free loan without pledge, free credit processing
But is this really the case : this answer is not always known to the ordinary borrower, who is already accustomed to paying mandatory commissions for using credit.
Of all these offers, patches such as “interest-free credit” stand out. As it turned out, this banking product is truly real and can be obtained by almost anyone who wants it, but will need one or more credit cards, preferably from the same bank.
If you were unsuccessful in getting multiple credit cards from the same investor, don’t worry, you will simply be able to take interest-free credit using some plastic cards from different lenders. How to do it: read on.
Receipt mechanism No.1
Have you noticed that when issuing a credit card, a bank specialist tells us how we can use the N-amount without interest rate conveniently and profitably? And it works quite legally and with a legitimate reason. But above all, the basic condition must be met: you must return the money within a specified time period.
This period varies from bank to bank, from 25 to 100 days. For example, if our period is 60 days, we will be able to use the credit line from June 1st to July 30th at no charge . That is, if the full amount is repaid by July 30 (day 60), the bank will not charge the interest rate on the use of the money.
But, in this scheme it is important not to withdraw cash from the card, as you will pay a certain interest on withdrawing money. To avoid extra costs, simply pay for card purchases at the store and find out how the card will be replenished in advance so that you do not pay extra for this procedure.
If you receive your salary directly on such a card, the interest-free credit will be automatically refunded. The main thing is that the day when the money is credited is within the set period. The advantage of such an interest-free credit could be the bonus points you get when paying with a credit card in various stores. Spending a certain amount of money over a set period of time will give you a certain amount of cash bonuses from vendors that will allow you to shop again completely for free.
Receipt mechanism No.2
The first scheme is, of course, guaranteed and many borrowers not only solve difficult financial situations , but also accumulate bonus money in their account. But what if you need an amount above your average income, because in this situation, your salary will not be enough to pay it off in full?
For this reason, we go to the bank and get a credit card not only for ourselves but for another member of our family. We use the entire credit line first from our credit card, but at the end of the refund period we transfer the required amount from the family member’s card to your card.
Since the second card also has a repayment period, you have time to pay back the loan without interest, but for the second credit card. If, at the end of this period, you have failed to repay the interest-free loan again, we will transfer the money from the first card to the second.
Such actions can be performed an unlimited number of times and for as long as necessary until you have sufficient funds to repay the interest-free loan. Of course, as much as possible, you can credit some of the money to your credit card account , gradually covering the interest-free loan.
Transferring money from card to card within one bank will cost almost nothing. If the cards come from different financial organizations, you will have to pay a small sum of money, but it will be too small to fulfill the role of the annual rate. Most importantly, do not withdraw cash from the card during these activities. The easiest way to make a money transfer is through the creditor’s online banking system, terminal or ATM.
Receipt mechanism No.3
This is an absolutely legal way to get the expensive item you need with interest-free credit. This can be done at your option – “installment payment”, “interest free”, etc., but above all, you must have a credit card from the bank (with which the seller is working) with a sufficient credit limit.
For example, you have decided to buy a TV that costs $ 1000 with an interest-free loan from your bank with a 5-month repayment period. This means that as soon as you pay with your card in the store, you will be debited with the first payment of € 200 (1000/5 months). For this reason, if you do not want your first deposit to be credited to the credit line (you will be charged a commission for using the money), top up your card for exactly this amount (200 Euro). Next, you will be charged 200 euros on the card before each interest-free loan repayment date. In the end, you will be able to get a TV worth 1000 euros at no extra cost in 5 months’ payments.