A credit card and an installment card are available for use an unlimited number of times, as long as there is money on them. This banking tool is great for small recurring expenses. To save on overpayments, choose a card with a maximum interest-free period and do not go beyond it.

Consumer credit is a profitable solution for paying for an expensive purchase. The amount on such a loan will be many times greater than on a credit card, and the percentage, on the contrary, will be lower. Another argument in favor of a cash loan is a comfortable repayment period.

Use our online calculator to select the optimal repayment term and suitable payment amount myfin.us. To get advice on all the conditions and evaluate the chances of approving the required amount, enter your contact details and click "Submit Application".

When is the best time to get a credit card?
To decide what to take - a loan or a credit card - first of all, you need to decide on the goal.

A credit or installment card can be useful for many purposes.

To receive cashback.
Many banks have loyalty programs that allow holders to return up to 10% of the amounts spent. Some customers use such cards as a way to get additional bonuses for purchases within the affiliate network, while they are less interested in credit funds.

To pay for urgent purchases.
An installment or credit card sometimes acts as a backup wallet. If necessary, you can use borrowed finance at any time.

To save time.
Renewable limits on credit cards and installment cards will help save time on processing consumer loans. After depositing, the money is credited to your account - to use it again, you do not need to contact the bank.

Sometimes credit funds are an integral part of a person's life. In this case, a credit card with a revolving limit is a good choice to save time.

It is possible to plan a budget taking into account borrowed funds, but it is important to be disciplined and spend money only on what is necessary.

To start a credit history.
With the help of a credit card and an installment card, you can form a good credit history for successful interaction with banking organizations in the future. A borrower with a high credit score can easily qualify for a large consumer loan.

When is the best time to get a loan?
If you are not sure that you will be able to repay a large amount in a short time, a consumer loan will be a more profitable and safer option for you.

There are other reasons why it is sometimes wiser to choose cash.

 You need a large amount.
On consumer loans, you can get a large amount, which will be many times more than the limit on a credit card.

Purposefulness.
There is no risk of spending more than planned. Borrowers apply to the bank for a specific purpose and receive a fixed amount in their hands. The debt in the process of using money does not grow, as could be the case with a credit card, and the overpayment is known in advance and can be reduced.

Easier to budget.
When drawing up a loan agreement, a payment schedule is drawn up, according to which it is possible to predict in advance what part of the income will be directed to pay off the debt to the bank. For people who value stability, this is an important advantage.

No additional overpayments.
As a rule, the overpayment on cash loans is significantly lower than the interest that is charged on credit cards upon exiting the grace period. In addition, depositing and withdrawing funds in the lender's devices is carried out without commissions, and there are no fees for issuing a card and maintaining an account.

The effectiveness of banking products is directly affected by the financial literacy of the client himself, and his awareness. To get the most out of lending, discipline and the ability to make informed decisions are essential.

And, of course, the benefit of a loan depends on its main characteristics:

type of payment - annuity or differentiated,
interest rate,
early repayment rules
opportunity to receive credit holidays,
repayment methods,
insurance.
A loan or a credit card is a simple matter if you understand how these products work. An objective view of the personal benefit for each client individually ensures the comfortable use of any bank services.