A low-income loan is not an insoluble credit problem. Credit offers can be obtained at almost any income level. Which credit options with a small income are open, reveals the contribution.
Low-income loan – starting position
Subjectively speaking, everyone has the feeling that they are not making enough money. To properly assess the chances of a low-income loan, objective standards must be set. The benchmark, which counts for installment loans of commercial credit institutions, is the seizure-exemption limit.
The threshold for being impoverished depends on the respective life situation. For a single person, without maintenance obligations, the limit is a monthly income of $ 1,050 net. The individually valid values can easily be found on the website of a debt counseling service or on Wikipedia.
If the earned income from dependent employment is higher, the entire credit market is ready to provide credit. A cheap microcredit can be easily found on the affiliated loan comparison. If the income is not enough to overcome this hurdle, then a solvent guarantor can prevent the looming credit crunch.
Credit despite a small income – without guarantors
Below the seizure allowances limited credit options exist without guarantors. From the house bank, with a regular work income, a small credit line is possible. Already the size of a normal training salary is sufficient for most credit institutions to provide for the small credit line. About the amount of a monthly income is realistic.
Another option, for the low-income loan, which opens up starting from a monthly net income of about 600 USD. From this income level, it is possible to apply for a credit card. Real credit cards are provided with a credit limit. The credit line is not the same for every provider. The average order is within the range of 500 USD up to 1500 USD.
Installment loans are possible with small income, as department store loans. As with any loan request, the clean credit bureau and the age of majority are required. Whether a loan for sales promotion is granted in individual cases, depends largely on the amount of the loan request. He should be in good relation to actual income. Particularly well-known for simple lending are the electronics warehouses.
Private financier – small salary loan
The credit supply through the system of banks and savings banks unfortunately does not offer everyone a fair credit opportunity. The desire for a low-income loan can lead to a dead end for established credit institutions. Computer programs and probability calculations are increasingly deciding who gets a loan. Humanity and trust in the individual disappear more and more from the commercial credit landscape.
It is different with the loan from private. Contact with private investors can be made free of charge via one of the major personal loan portals. From person to person, without complicated procurement guidelines or computer programs, the credit with a small income still has fair licensing opportunities.