Credit with 900 USD incomeOn December 10, 2019 by Shaun Wright
Germany is one of the richest countries in the world. The economy is booming, unemployment is low and there is even a shortage of skilled workers to fill important positions. A country cannot offer much better conditions to accommodate happy and financially secure people.
Unfortunately, this theory deviates from practice in many areas. We have low unemployment and there are many jobs available that cannot be filled. But many people also work in the low-wage sector or only work part-time. The retail trade as well as the catering trade and the hotel industry are particularly affected. Or the many people who live in the holiday regions and are dependent on tourists and the season. While all of them work, their work can only generate a modest income.
This low income makes life extremely difficult. Many purchases must be carefully considered and planned so that they can be made. If it has to be procured a little faster than planned, the money is missing and a loan has to be taken out. Maybe a loan with 900 USD in income.
What is bad about an income of 900 USD?
One or the other may say: 900 USD, I would like that too. I have much less money available. But the problem that shows up with a low income when borrowing can be described particularly well with a loan with 900 USD in income. Therefore, please simply look at the 900 USD as an example and draw the consequences that will then be transferred to your financial situation.
If you go to a bank with this income and want to apply for a loan with an income of 900 USD, you can be sure that this loan will not be approved. Because 900 USD of income are not enough to be creditworthy. Definitely not if the loan is to be taken out directly from a bank.
In such a case, the bank clerk will suggest that you apply for the loan with 900 USD of income not alone, but together with another borrower. In other words, with a person whose income is higher and who therefore has a better chance of getting a loan. If both borrowers have a positive credit rating, this can result in a credit rating that allows borrowing.
However, you will not be able to apply for a large loan amount with this income. You should therefore always use a small loan that is the most realistic.
Which loan goes without help?
However, you also have the option of taking out a loan with 900 USD of income independently and without help. Many consumers do not see this type of borrowing as a loan at all, but only as an installment payment. A loan is nothing more than an installment payment agreement.
We are talking about a consumer loan, which you can take advantage of, for example, if you want to buy a new sofa in the furniture store or a new computer in the technology market. Then the seller can offer you financing that the specialist calls consumer credit. Because with a consumer loan, consumer goods are financed directly from the provider. Of course, there is always a bank behind the offer that works with the dealer.
However, since the consumer credit is earmarked and therefore not paid directly to the borrower, an income of 900 USD per month would be sufficient for borrowing. The limit with this type of loan is namely a small 450 USD in income per month. However, as always, a good private credit checker is important, so make sure that there are no negative entries.
What can a credit broker do?
Advertisements can always be read on the Internet and also in newspapers or magazines, even if the initial situation is “difficult”, which offers the prospect of a loan. Such advertisements are usually credit intermediaries who sense the big money and want to attract all those who are desperately looking for a loan.
A credit broker cannot conjure up a loan with 900 USD of income. In any case, not if it is a serious offer. It is therefore not worth reacting to from such offers, since they usually do not bring what you want in such a situation. It is better if you look for suitable offers yourself and seek a guarantee for your loan based on your income. Then you also have a good chance of getting a loan with 900 USD of income on fair terms.