If you plan on applying for a loan, there are several things you need to consider. The most important factor is your financial background and credit records. Alternatively, aspects like getting a line of credit no credit check make it easy for people to access funds. However, this does not mean you should overlook your credit score status. Only the richest people on earth pay less or no attention to their credit rating. Good credit reports factors of healthy budget planning.
People have odd financial habits that directly impact their credit score. Damaging your credit score makes it hard to get approval for credit from financial institutions. Nonetheless, there are simple means you can use to help boost your credit score.
Verify Your Credit Reports
Checking your credit records is one of the key factors to help maintain a high score. The secret to growing your rating depends on your consistency and the time you spend building your credit. Credit score killers such as identity fraud may be out of your control but, ignoring reports gives these fraudsters better chances of destroying your financial status. Reviewing records regularly will help identify any errors or mischievous activities that may be on the record. Multiple platforms offer monitoring services and suggest methods to help get your financial records in order.
Avoid Unnecessary Spending
Many people who are not aware of their spending habits are likely to fall into debt. Spontaneous spending is likely to promote overspending and poor habits, such as gambling. Apart from unnecessary spending habits, activities such as frequently checking your credit score can affect your rating. Numerous inquiries in a short duration are one of the fastest ways to harm your credit score. This action does not look good to lending institutions, which can ultimately deny the approval of your loan applications.
Pay Bills on Time
Defaulting payments or late submissions destroy your credit over time. Luckily this is one of the easiest things to rectify. Paying your bills on time and in full is an effective way of improving your credit score. Every time that you miss submitting a payment on time, your ratings drop. Also, keep in mind that an overdue bill will remain on your credit report for five years!
Identifying and taming bad credit card habits will put you on the right path to a sound fiscal plan. A low credit score is likely to block you from buying property or getting a student loan, among other things. Regular verification of your credit reports should be a habit you practice often. Putting the information above into play will significantly help rebuild or fix your bad credit score as well as maintaining it.
Loans are very effective in distributing wealth. They take the surplus from those who have too much idle money and give to those who have deficits. This system works very well in Thailand. The Umay Plus เงินกู้ is available to salary Thai citizens who have a cash card.
Which card do you need to be eligible for umay plus loans?
You need to have either the Cash Card Yume Plus of the Cash Advance Card for you to access Umay Plus loans. Before we go to the cards themselves perhaps it would be wise to consider the conditions that must be met before you can apply for either of the cards. To apply for either of these cards, you need to be between 20-55 years of age. You also need to have a phone. Obviously, you should be a Thai citizen.
Now let’s go to the cards themselves. Each of these cards has features and specifications that are different from the other. With both of them, you need to be keen on the prevailing interest rates, fees and terms and conditions. They are acceptable in all departmental stores that accept Umay+ and EASY BUY methods of payment. For each transaction, a few service charges are depending on whether you have a revolving loan or an installment loan. The payments costs are very reasonable, just like the expenses to the government.
Features of cash card yume plus
This card is for employees whose basic salary is more than 7,000 baht. Holders of this card pay an interest rate of 28% per annum and installments of 3% on the outstanding loan amount. Once you have applied for this card, you can get cash instantly at ATMs of various banks in Thailand. You can then budget your expenditure and plan for your money.
Cash advance card
The Cash Advance Card, on the other hand, is for salaried employees earning more than 20,000 Baht. As you would expect, its features are more advanced than those of the Cash Card Yume Plus. Precisely, Cash Advance Card holders pay an interest rate of 19.8%. However, this rate may vary depending on the company in question. Just like it is the case with Cash Card Yume Plus, you pay installment of only 3% of the remaining principal amount. Cash is also available in various banks in Thailand through their ATMs.
How to apply for a cash card
Now that you have known the two types of cash cards you need to access Umay+ loans, you must be asking yourself how to apply for one. Well, applying for a Cash Card Yume Plus or Cash Advance Card is straightforward. You just need to fill an application form that is available on the official Umay Plus website. You can download this form and fill it offline then attach it with other documents for your application to be processed. You can also apply for a Cash Card using your mobile phone. You can download the Umay+ application and install it on your mobile device. You can always visit the nearest branch whenever you are in doubt.
Before applying for a credit card for your business, you should do an extensive research on how the credit card can benefit your business’ operations. The rule of the thumb is to fast of all reevaluate your existing credit card plan. Determine whether it is effective or not. The act of reevaluating you existing credit card plan will ensure that you take advantage of the best rates and current offers in the marketplace.
Corporate credit cards?
Look for the cap
If you have a decent credit history, you should be able to get a credit card with a low introductory APR. A cap will also mean no annual fee. Look for the part that provides for a cap or ceiling on future rates. Be very careful of the teaser rates. They jump from zero percent to thirty percent or even higher after a trial period ends.
Rank rewards high
Most business credit cards offer now offer rewards for purchases. If you travel a lot it is advisable to pick a card for an airline so that you stand a chance of taking advantage of the rewards and offers offered by the airlines. If you don’t fly often, go for the cash. But if you have chosen to go for the cash, be aware of the fine print because some cash rewards are limited to specific purchases like gasoline. Choosing cards that have rewards will help you to minimize the overheard costs of your business by taking advantage of the rewards from the credit card companies.
Do a comparison of at least credit card service providers
You should try and make a comparison of the different credit card service providers. Evaluate them on the basis of their services and this would lead you to narrow down the credit card service provider that suits you best. There are a variety of websites that can help you do that comparison.
If you feel lost in your search due to the fact that there may be hundreds of credit card provider companies, these sites will go ahead to give a recommendation of the credit card that suits your business needs best. They will also highlight on the credit card services that match with your credit history. This would be very handy especially if your credit history is poor or if you are looking to transfer a high-interest balance. The above tips will enable you to choose the right credit card service provider for your business.