Mini-credits are a recurrent financing resource at present. In fact, you may have disposed of them on occasion. Be that as it may, the truth is that its versatility and ease of obtaining are two advantages that have not gone unnoticed by the new credit consumer profile.
Why Millenial generation trusts mini-credits?
Several answers correspond to this question. Mainly, this type of credit product is indicated for people who do not need large sums of money. Either because of their lifestyle, or because of a different concept of personal development, millennials are less likely to make large investments in a car or in a home.
In addition, if we take into account that the majority of young people between 25 and 34 years old do not live alone or rent, it is more than justified that their financing needs are focused on whims or on minor professional investments.
On the other hand, the possibility of accessing these low-level loans by people with low solvency, such as young people, makes them even more in demand by this age group. Many young people who have gone through the crisis ended up in financial credit institutions and other delinquency files for small debts. Well, these funding resources do not usually take into account this type of information, as long as the debts for which you entered the file are not very large.
Another possible answer integrates in the equation the profound laziness of this group to face the procedures of traditional banking. You know, if you can do online , much better. Or at least that is what most people with less than 35 years of age think. The apathy of the usual banks has ended up promoting alternative channels to get financing that the youngest can enjoy from the app on duty.
Finally, the minimum requirements and the low document management come to complete the list of main reasons why young people prefer mini-credits. In this way, some credit companies only request a copy of your ID, or a photograph of it, and some proof of income, such as an extract from your usual bank account. In other cases you can ask for a payroll or some proof of being a collector of any state or regional pension.
Conditions of mini-credits
As a rule, this type of credit exceeds € 600 and its payment is almost immediate, once your application has been approved. The idea is to favor the agility in obtaining the money, so the requests are reviewed in the 24 hours following your cash requirement.
A period of 30 days is usually established for the total refund of the initial amount, in which case some entities charge a small commission for the management. It is also possible to finance them according to your economic abilities, paying a monthly fee. In this case the interests are higher.
While it is true that these are the general conditions that apply most lenders specializing in this type of financing, I recommend that you study with caution the particular conditions offered by each company. You can ask what you want in advance; accept only the credit if you are sure, or safe, of having clearly understood the loan terms and the total amount of interest to be paid.
By way of conclusion, mini-credits are the perfect and personalized solution that young people demand today. Both the possibility of processing them completely online and the minimum requirements for obtaining them are key factors to justify their proliferation in the last 10 years.