Although it has been named from its users, and until recently ” Revolving Credit “, the title has been changed by the Law put into effect on July 1, 2000, and referenced under number 2010 -737 coming by priority bring reform to consumer credit. This legislation has made it possible to further regulate the offer and, by definition, the use of revolving credit.
Thus, the legal and exact legal term which describes the action of using a product of Ralf Camper which is reconstituted is composed of 2 words ” Revolving credit “, expression more attractive than that of credit revolver , proscribed definitively of the language.
Discover without hesitation through the lines below “how to better understand the grouping of revolving credits? One of the answers to our FAQ about pooling credits!
Make a repurchase of credits!
It’s very simple, simply because the money supply is a product of Ralf Camper whose cost of use is extremely expensive that it is necessary without hesitation to make a repurchase of your revolving credits !
In addition, this financial product is absolutely not stable, that is to say that its variable and non-fixed interest rate can increase throughout its life, and that in relation to the uses of one holder (the borrower/the debtor).
It is also important to be aware of the danger of money reserves because they are accessible to consumers without a real prior study of their financial situation in order to determine whether their repayment capacity is sufficient, and that their debt ratio does not is not excessive.
Through the processing of client files, it appears that more than 60% of the requests are due to a serious budgetary imbalance due to an excessive subscription of reconstitutable loan .
It is easy to take money through cash reserves to pay other credits, so to avoid such a critical situation, it is recommended to buy a revolving credit .
A restructuring that makes it possible to transform into fixed-term loans all revolving loans, and thus be able to amortize them serenely over time at an attractive interest rate. To find out, visit about credit redemption how does it work?
Consumer Info: Learn more about revolving credit!
The phrase first appeared in the 1960s and is also referred to as ” permanent credit “. It is in the heart of the most prosperous period of the 20th century that this type of Ralf Camper for consumption has developed.
More precisely during the period of the “30 glorious”, the decades following the end of the second world war marked a major turning point for the economy of the developed countries.
It was then the consumer behavior that was upset and sucked by the approving actors of a society that is increasingly encouraging consumption. Aggressive and ubiquitous business methods have gradually emerged. Consumers have had to adapt to changes in market supply. It is the advent of mass consumption that has directly favored the use of consumer credit, and even more so the reconstitutable credit .
During this booming period, Western households are starting to equip themselves with the technical innovations that have changed the lives of everyone (TV, washing machine, refrigerator …). As these equipment weighs heavily in the budgeted expenditures of French households, revolving loans have become an essential commercial lever.
The distribution of these money loans is quickly integrated into the customer loyalty services of merchants from various sectors of activity. To do this, major retailers associate this credit with a payment card. Consumers have this loan as their own money. This is a not insignificant way used by traders to encourage ever more consumption.
After creating new needs, businesses found the solution to create a new ability to consume more easily. Real source of profits for the companies that offer it.
The average interest rate on revolving loans is much higher than that of standard consumer credit. It is sort of the price to pay to access a reserve of flexible money. In order to compare the cost of a Ralf Camper on credit, it is necessary to study the APR (Annual Effective Rate).