During the holidays or in the space of a weekend, you can go on a trip without obligation or for pleasure. Such a decision inevitably entails costs that you cannot afford if you do not have the necessary budget. Fortunately, there is the travel credit, a formula that is offered to all borrower profiles who want to travel. However, what types of loans are offered for travel? Reaction Elements!
The personal loan
If you want to travel, the personal loan is the most accessible financing solution. It’s even more so if you go to a serious neobank like Floabank that offers you a free online simulation of your loan via this link https://www.floabank.fr/credits/simulation-pret-personnel-multi-projets.
Once you go to this site, you will have a calculator that will allow you to simulate your credit. This allows you to make a complete estimate of your loan in order to better build up your file.
Anyway, you don’t have to worry as the personal loan is obtained without proof of expenses. All you have to do is prove your creditworthiness to the lender. As soon as you succeed, you can get a loan of 75,000 euros. This amount can be repaid in a minimum of 3 months or a maximum of 10 years.
After all, everything depends on your repayment capacity and many other conditions. Once the credit has been granted, the lender must normally provide you with a document containing certain mandatory information:
- the JKP,
- the subscribed capital,
- the total cost of the loan,
- the duration,
- refund terms.
In the event of an unforeseen event, you have a withdrawal period of 14 days to cancel the credit.
The assigned loan
The assigned loan also represents a very advantageous financing alternative. To obtain it, for example, when purchasing a stay, you can conclude a credit agreement with your tour operator. The most important detail here is that this loan does not give you the flexibility to spend it the way you want.
In reality, as soon as you indicate that you want to take out a loan, the lender asks you for an estimate that justifies the loan. This forces you to be very careful when planning your expenses. The amount to be borrowed may vary depending on the length of your stay and your destination. Once you exceed a certain threshold, the lender can deny you access to the loan.
When you get the lender’s approval, you should receive a document stating the APR, loan amount and deadlines. The loan amount is transferred to the account of the seller of the service and not to yours. You also only start paying off the credit when the service ends. If you want to waive the loan, you also have a 14-day withdrawal period to cancel the contract.
You can also travel by opting for a revolving credit. This form of financing entitles you to an amount between 3,000 and 4,000 euros. Here you do not need to follow any preparatory steps. In reality, the amount is linked to a card and represents a cash reserve that you can use at will.
Once you use the reserve allocated to you, you can extend it by paying back the previous one. The contract for such a credit is often concluded for 1 year with the possibility of extension. In other words, it is of a credit very flexible travel which offers more freedom to the borrower. However, keep in mind that this is a very expensive financing solution, unlike personal loans and revolving credit.
If you want to enjoy it as it should be, you must be a frequent traveler. In that case, you can subscribe to a VISA card linked to a cash reserve. This gives you the opportunity to establish an overall budget and keep excellent control over your repayments.