Transfer revolving credit

Have a loan in the form of a revolving credit? And do you want to transfer your revolving credit to a revolving credit with a lower monthly charge? Or a revolving credit with a lower interest rate? Preferably both, of course. It may of course also be the case that you have been less able to withstand the temptation to withdraw from your revolving credit than you had previously thought, and you want to convert your loan into a personal loan. Because you want certainty of phasing out in your loan.

Because 80% of the Dutch are still borrowing too expensive, it is quite possible that transferring your revolving credit can certainly give you an advantage. There are plenty of providers, and requesting quotes for loans is completely free. What are you waiting for? Start applying for your advantageous loan right away!

Transfer revolving credit? Pay attention!

Transfer revolving credit? Pay attention!

Do you currently have a revolving credit? And do you want to transfer your revolving credit? The major advantage of transferring your revolving credit is that it can be penalty-free at any time. This is a great plus. However, there are also things that can go wrong when transferring revolving credit. For example, if you want to transfer your revolving credit because you want to reduce the monthly costs of your loan, this can cost a lot of money in the long term. Sometimes low-interest loans are even transferred to a revolving credit with a higher interest rate, but a lower monthly term. So always keep a close eye on your interest rate. And make sure that your loan is cheaper in every way. Not only the monthly term, but also the interest rate! As long as you don’t have revolving credit with an interest of 4,

Transfer revolving credit more cheaply

Transfer revolving credit more cheaply

There are a number of things to keep in mind when transferring your revolving credit, if you actually want to borrow money at a lower price.
The most important point is the total cost of your new revolving credit. This is already stated on the front of the contract with many providers, but it certainly does not hurt to check this in the ESIC form. You can compare these total costs with what you still have to repay to your current revolving credit.

The calculation you can make to determine what you still have to pay on your current loan is relatively simple. The monthly overview of your current revolving credit shows your monthly term and the theoretical term. By multiplying these together you know what you still have to pay back. Compare this to the total cost of your new credit. You will then quickly see whether the revolving credit facility is advantageous for you, and whether it will cost or yield money.

Transfer revolving credit to a personal loan

Transfer revolving credit to a personal loan

Of course you may want to get rid of your revolving credit. A revolving credit is a very tempting form when it comes to making readmissions. Every month you will receive an overview of the bank with how much you can still spend. And you can also record this online at most banks. So you can borrow online continuously, as it were .
If you really want to get rid of your loan, it can be a solution to convert your loan into a personal loan . You then have the certainty that you are actually phasing out your loan.

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