Applying for a bank-based unsecured loan always requires active credit card ownership for at least one year. So what if you don’t have a credit card? Relax, guys, there are non- bank unsecured loans that do not require credit cards. Check the options here!
When there is an urgent need for funds, people are more likely to apply for unsecured loans rather than secured loans. The reason is that unsecured loans are easier and faster because they do not require the assessment of collateral or collateral. We have always known unsecured loans provided by banks. But the main obstacle when it comes to applying for unsecured bank loans is to have a credit card.
Unfortunately, not everyone has a credit card. So what? Keep it up, buddy, there are still non- bank unsecured loans with credit cards that you can rely on in times of need. This type of loan is actually the same as a bank-backed unsecured loan, just because you have no credit card requirements.
Three Non-Banking Lending Options Without Credit Cards
For those of you who want to apply for a non- bank unsecured loan, there are three options for you to choose from:
The first option for a non- bank secured credit card without a credit card is the office where you work. Usually, the office will provide cashmere facilities to employees who have a minimum of one year of employment or who are already full-time employees.
The loan amount you can give depends on the policy of each office. Some lend a maximum of one paycheck to more than that. To apply for a loan, you do not need a guarantee or a loan or credit card ownership. Usually, the terms provided are only a work contract or a full-time employment letter.
If the office cannot provide a non- bank secured loan without a credit card, then you can apply through the cooperative. Co-operatives are economic organizations that are owned and operated on the basis of the principles of the people’s economic movement on the basis of common interests or families. The advantage of this cooperative is that the interest given by the cooperative is so low and affordable that it does not burden the borrower.
The lending requirements are sufficient to obtain a Resident Identity Card, payslip or income statement, and electricity account. Unfortunately, the nominal online loan plan offered by the cooperatives is not so much. On average, they can only borrow millions of dollars because their source of income is only available to their members. You also need to know that there are other conditions, that you must join the cooperative in order to lend.
Finally, there is Good Credit who is a non- bank without credit card. This type of online loan is secured by being registered with the OJK (Financial Services Authority). So you don’t have to worry about online fraud anymore because all the lending activities in Good Credit are overseen by OJK. Good Credit will give you a loan with a minimum loan amount of USD1 million to $ 20 million. The term of the loan is given from 10 days to 180 days (6 months).
If your application is accepted, the funds will flow immediately through the account number you provided earlier. Usually, this dilution process can take between one to three business days.
What Causes Non-Bank Loans Without Credit Cards to be Declined
While it may seem easy, but not least, non- bank-approved unsecured loans with credit cards has declined. In anticipation of this happening, you can learn some of the following that led to a loan decline:
Data Provided Inaccurate and Inaccurate
Non- bank unsecured loans without credit cards are often issued in times of emergency or when they are in an unexpected situation so we rush to provide personal data and do not check again. The data you provide should be accurate and valid ID such as your full name, place of birth and home address. Only one letter will make your submission rejected. Therefore, be very careful when providing personal data when applying for a non- bank guarantee without a credit card.
Requirements Not Fulfilled
It is important to read the terms proposed by a non- bank lender of credit card fraud. We must not meet the requirements. Let’s say you are about to apply for a non- bank loan without a credit card in Good Credit, but you do not have a local bank account number. If this is the case, it’s best to open a local bank account first to apply for a loan.
The document is Incomplete or Unreadable
Another common mistake is to provide incomplete documents until the application is rejected. If you feel that the document you submitted is complete, but still gets rejected, it could be that the document you provided is unreadable because the photocopy or scan is blurry. Therefore, before handing over documents to a non- bank secured lender without a credit card, you should first check.
Have a Bad Credit Note
Are you currently in arrears of unpaid debts or installments? If so, then pay off all the debts and installments immediately. Debt and unpaid installments will make you a bad credit record so the lender of a non- bank secured loan without a credit card will rethink giving you a loan.
Call Unable to Call
The last reason for applying for a non- bank loan without a credit card is declined because the lender cannot contact you. So, always turn on your cellphone so that when you get a call from a lender that will confirm you can always standby. If your phone number cannot be reached, your provider will usually send you an email. So don’t forget to check your personal email.
Take Non-Bank Guaranteed Loans Without Credit Cards
We are often tempted to apply for a maximum loan amount from a given loan planner. Whereas the funds needed need not amount to half the maximum loan ceiling provided. Let’s say in Good Credit the maximum loan plan is $ 20 million while you only need $ 5 million. Apply for a loan of just $ 5 million, not exceeding that amount to avoid having to use the fund for non-essential purposes.
You also need to adjust your tenor period according to your financial or monthly income. Make no mistake about determining the tenor of your tenure leading to an inability to pay monthly installments. To find out the right tenor, first, do some calculations to see how much you can spend per month. That way, the installment can always be paid on time.