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Credit card with cancellation insurance.

Travel cancellation insurance is one of the best-known additional services for credit cards. It offers financial protection if the booked trip cannot be started for important reasons. Here you will find the most important details.

Cancellation by credit card

Cancellation by credit card

Depending on the operator, travel cancellation insurance can account for up to 10% of the total price. On a vacation to the Caribbean, 100 to 300 USD are not uncommon. However, this insurance is absolutely necessary to get the costs reimbursed in the worst-case scenario. Otherwise, you will have to pay for a trip that you will not go on. This includes expenses for flights, hotels and rental cars. In the case of a package tour, the entire package is taken over. Cruises are also included in the scope of services.

Some credit cards include travel cancellation insurance. So you do not have to take out separate insurance. Protection extends to no fault of your own.

Important requirement: The credit card must be valid during the entire vacation.

Common cases where travel cancellation insurance is available:

  • serious accidents with injuries
  • sudden illness
  • previously unknown pregnancy
  • Family death
  • dramatic damage to property (fire, flood)
  • allergic reactions to vaccinations
  • Police or court requests presence

A certificate or a sick leave certificate is sufficient as proof. It is not enough to briefly describe the case. The reasons must be documented by a medical document.

Advantages and disadvantages

advantages and disadvantages

Anyone who travels several times a year needs a lot of insurance. Over time, this will cost money: Already three trips can cost 500 USD in additional services.

You can save the majority of these costs through additional services integrated into credit cards, such as travel cancellation insurance, because you are automatically covered as a cardholder. The time of withdrawal is decisive whether you receive the full amount or a partial payment. Read the conditions of the card issuer carefully. Alternatively, you can make a short phone call to find out the necessary information.

As a rule, the entire trip must be paid for by credit card. Otherwise you cannot take advantage of the protection. If the holiday has already been booked, you should ask the card issuer. Some are accommodating and still secure the trip. To do this, the credit card must reach you before you travel.

Offers with no deductible are preferred for travel cancellation insurance. So you don’t have to make any additional payments. The spouse and children should also be insured with your credit card. For a single, this point is irrelevant.

Important: This is not a trip cancellation insurance! This jumps in during the vacation, for example when the boss quits his job. A quick return is necessary to clarify the matter. Some card issuers offer this protection in a package with travel cancellation insurance.

How high are the costs?

How high are the costs?

Cancellation is an additional protection from the premium segment. The service serves as an argument for expensive credit cards. Therefore, it is reserved for gold or platinum cards. However, you will not find travel cancellation insurance for prepaid cards.

The card issuer participates in this protection through the annual fees. Expect around 100 USD for a credit card with this insurance. This is not a lot, as some travel agencies charge over 150 USD for cancellation. In this case, the plastic card would have paid for itself when you made your first booking.

Tip: Look for a package with a higher scope of services. For a small surcharge, you can get foreign health, luggage and rental car insurance. In this way you benefit from further protection and save additional expenses.

The customer receives additional protection, which is a reason to buy. In return, the card institute won a new customer. In the event of a claim, contact the insurer directly. You can obtain all telephone numbers from the card issuer. This service is costly for the financial institution. Therefore, travel cancellation insurance is only available for credit cards with annual fees.

Example: credit card with cancellation

Example: credit card with cancellation

The Barclaycard Platinum Double is a credit card with travel cancellation insurance. Travel of up to 5,200 USD is insured, and for family trips up to 10,300 USD. The cardholder receives a Visa and a MasterCard. In comparison to other offers, you do not have to pay for the holiday with a credit card.

Additional Services:

  • Health insurance abroad
  • Foreign security letter
  • Luggage insurance
  • Travel law protection

You can test the Barclaycard Platinum Double for the first year without fees. It can be canceled at any time after the second year. The annual fees are 99 USD, three partner cards are available on request.

Conclusion: Frequent travelers and globetrotters are the biggest beneficiaries of this additional credit card service. Families can also save a lot of money. If you only travel by car once a year, you can do without travel cancellation insurance.

Other credit cards (additional) services
Car rental insurance
Partner card
Foreign insurance
Cancellation insurance
Limits
Airport lounge access
Contactless payment (NFC)
Cashback
Installment payment
Credit (rechargeable)
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Leasing instead of credit: these are your advantages

Do you want to invest without taking out a loan? And you don’t want to touch your liquidity reserves? Then leasing could be just the thing for you – for real estate, vehicles, machinery and more.
The principle of leasing can be briefly described as follows: You can use capital goods such as a company car without having to buy it yourself for a lot of money. The lessor purchases the item for you and makes it available to your company. You pay a regular lease payment for this.

 

The main advantages of leasing at a glance

The main advantages of leasing at a glance

  • They create more financial scope and receive tailor-made financing solutions based on their cash flow: “Pay as you earn” principle.
  • Thanks to fixed leasing rates, you have a secure basis for calculation.
  • They do not tie up equity and remain liquid.
  • You stay up to date with your operating equipment and are independent of the manufacturer or supplier of the investment object.
  • You can deduct the leasing installments from tax as operating expenses.

 

Tailor-made contracts possible

credit loans

Leasing contracts can be designed very flexibly. For example, you can adjust the lease term of the capital asset to your useful life. Or link the leasing rates with your occupancy rate. You also choose between various forms of contract: either you return the leased asset at the end of the term. Or you can buy it after this time or extend the contract.

 

The main leasing goods

credit loans

With equipment leasing, you rent movable assets such as machines, office equipment or exhibition stands. The classic in this category is the company car. With the leasing companies of the Astro Financial Group, you are manufacturer-independent. You can put together a fleet of different brands according to your wishes. And even from a small number of vehicles, you can also transfer the fleet management of the leasing company.

You can even lease high-quality real estate. You do not have to invest large sums and remain flexible when using the property. In general, this applies to both new buildings and existing properties. In the so-called sale-and-lease-back, the leasing company acquires the building from you and then rents it out to you.

You can also use leasing abroad. Because the leasing companies of the Astro Financial Group are active in many countries. Above all, Deutsche Leasing AG. It offers its services in over 20 countries and supports entrepreneurs with local German-speaking contacts. In addition to financing capital goods, Deutsche Leasing also enables sales leasing: As a German exporter, you can not only offer your customer abroad your product, but also the right financing by leasing. So your foreign partner does not have to strive for financing yourself – a strong argument for your company in the export business.

By the way: If you are in a particular hurry – leasing is also very quick with the “2-minute commitment” for smaller investments. Simply contact our experts with your leasing request.

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With the Basis credit card you have your expenses under control

The credit card is a practical means of payment for your trips abroad and for purchases on the Internet. Our credit card base offers you all the advantages of a credit card. It also prevents your account from falling into the red.

Credit cards have been available at the savings banks for many decades. Most of them work on this principle: First you pay the bill. The amount will then be debited from your account. This is usually done once a month by direct debit. With the credit card basis it is the other way round: you load the amount of money of your choice onto the card. As soon as the money is credited to the credit card base, you can start shopping with it. Once this credit has been used up, no further withdrawals with the card are possible. This makes the credit card basis particularly suitable for young people and adults who otherwise cannot get a credit card or who are very security-oriented.

 

The advantages of the credit card base

The advantages of the credit card base

  • Convenient cashless payment with all the advantages of a credit card
  • Suitable for withdrawing money from ATMs worldwide
  • Full cost control, as dispositions are only possible within the framework of the previously deposited credit
  • Convenient access to balance, sales and monthly statements via the Internet, bank statement printer or telephone hotline

 

No proof of creditworthiness and income required

No proof of creditworthiness and income required

Young people often do not have regular incoming payments on their accounts. The credit card basis is an interesting solution for you, because it is independent of income. Even adults who do not receive a credit card with credit lines due to a lack of creditworthiness can pay with the rechargeable credit card. It may happen that the credit for due bookings (for example at parking machines or toll stations) is sometimes not sufficient. Then these amounts will be debited to the specified billing account.

 

Reloading on the go

Reloading on the go

You can top up the basic credit card by bank transfer or standing order from your checking account. This also works when you are traveling and can access your account on the go. Amounts received on the credit card account by 3:30 p.m. will be available the next working day. Credit notes can also come from a third-party checking account. For example, this enables parents to support their children financially during their studies or while traveling.

 

Protected in the event of loss

Protected in the event of loss

If the card is lost or stolen, the loss is no more than the credit. In such a case, have the card blocked immediately by calling the free telephone hotline. This number also applies from abroad with the German area code (usually +49). Until blocked, you are liable for a maximum of 50 euros – as with all other Smacklend credit cards.

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Mortgage Loans & Home Financing

There are different types of loans for mortgage loans: repayment loans, maturity loans and annuity loans. The purchase of a condominium or a house, including the construction of a house, is known to involve great financial resources. In this respect you can not avoid getting real estate financing. Real estate finance is also known under the name of construction finance and is actually the typical way to get the desired home. If you want to implement the project of building finance, you can’t avoid comparing different offers – this also includes considering different forms of financing. For example, some forms of credit are available to consumers for such large-scale financing as that of a house. Anyone who has signed a home savingscontract is already on the right path, which can be used to finance the house, as well as a home loan.

 

The mortgage loan to finance the property

The mortgage loan to finance the property

If you have mortgage lending in mind, you will most likely not be able to avoid a mortgage loan. A mortgage loan is granted by many banks – but one thing should not be forgotten: The mortgage loan is not an alternative to mortgage lending, it is an almost indispensable part of almost every mortgage lending. There are a few important things about a mortgage loan that you as a potential borrower should know and know in advance: The mortgage loan comes in three versions, so to speak, as a repayment loan, as an annuity loan and as a final loan. To say something about all three in advance: Each of the mortgage loans must be secured and, as is customary with real estate, with a mortgage.

 

Mortgage Loan – Repayment Loan

Mortgage Loan - Repayment Loan

A repayment loan means that the repayment does not change during the entire term. In the repayment phase, you always pay the same amount to repay the loan. However, the interest rate on the repayment loan changes in that the interest component falls. In a nutshell, this means that the more time passes with the repayment loan, the less you pay – the overall rate drops. However, it is now the case that a repayment loan is no longer offered by the banks and that borrowers also use the annuity loan and the final loan much more.

 

Mortgage Loan – Final Loan

Mortgage Loan - Final Loan

As the name of the final loan suggests, the loan amount only has to be repaid at the end of the term. During the term, the borrower only pays the interest, so that in the end only the current loan amount has to be repaid. However, the final loan also means that the borrower has to save during the term so that he can repay the loan. The thing is that with the final loan: If the loan is due, it must also be repaid in one sum.

 

Mortgage Loan – Annuity Loan

Mortgage Loan - Annuity Loan

The most used type of mortgage loan by borrowers is the annuity loan. The annuity loan is like a normal loan in terms of repayment. The monthly repayment installments consist of part of the interest and part of the loan amount to be repaid. The repayment rates do not change during the repayment period, you will always pay a fixed amount. It is important to know here that the monthly installments do not change, but the interest portion continues to decrease in the course of the repayment, but the portion of the repayment of the loan amount increases. The whole thing is offset against each other and so a stable repayment rate is the bottom line.

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My first credit: what works – and what doesn’t

My first loan from 18 – and sometimes earlier Anyone who is 18 years of age or older – is “ creditworthy ”. In other words, he can apply for his own loan from a bank or savings bank. However, there are sometimes exceptions: At least small loans, for example, also exist for minors – ie from the age of 14 – but only with the consent AND liability of the parents OR with a regular own income. However, banks have a special duty of care among young people. You have to check the loan request carefully or get the consent of your parents.

 

“Youth loans” – the exceptions without income

youth loans

However, there are loans for young people without their own income . Namely, when the parents are ready to act as guarantors, for example, and thus absorb the bank’s risk of default. This means that a small condominium, moped or hi-fi system does not have to remain a dream for a minor.

Student or apprentice loans are also granted in this way. With your parents behind you, you can secure your future career at work. Banks are usually generous here, as they have a clear view of future potential savers and borrowers: “Bank loyalty or customer loyalty” is also called in German.

Another alternative for young people without a fixed monthly allowance is the credit from family or friends. Without a fixed private loan agreement with clear repayment modalities, however, this should not expire to prevent difficulties.

 

Loans for young people – you should know these no-go’s

Loans for young people - you should know these no-go

  • No credit for pure pleasure
  • No credit without a realistic budget plan
  • Never overdraw the account for a loan
  • Always have a nest egg
  • No credit from a dubious provider

 

Checklist for the first own loan

Checklist for the first own loan

However, anyone who is of legal age, has a fixed monthly income and a permanent employment contract usually gets a loan from every bank. But you should prepare well before you take out your first loan. You have to pay attention to this:

  • Draws up a precise financial plan with all income and expenses. So you can quickly see how much credit is in the month.
  • Find out about all the peculiarities of a loan, ie which loan it is (eg consumer loan, real estate financing or car loan).
  • Pay close attention to the effective interest rate, ie what the loan really costs you per month.
  • Find out about the term, required collateral, your own credit rating and the possibility of a fixed loan interest.
  • Study the bank’s loan agreement carefully before you sign it: all standard information, the repayment schedule, rules on special repayments, late payments, etc.
  • If necessary, prepare yourself well for the loan discussion at your bank and make the most professional impression possible.
  • And: Compare the individual loan offers beforehand, ideally with loan calculators on the Internet!
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Corporate finance difficulties – They relies on loan

More and more companies are struggling with their own financing. Financial support through debt capital, ie general capital raising, is a major challenge in corporate financing. It can quickly become a liquidity bottleneck. The consequences can be the reorganization of the company or the financing of growth.

Here, liquidity is crucial for a company. Without corporate financing, no liquidity can be generated for companies. Debt financing is therefore almost indispensable for a company. But expansion banks do not always play a part in corporate financing. However, corporate financing does not only include the liquidity of a company, it is the goal! The question arises about the means of corporate finance and how easy it is to obtain liquidity for companies.

 

Reorganization of companies – corporate financing through financial injection

work loans

When the bankruptcy vulture circles over a larger company, you even hear about it in the daily press. Politicians also speak of possible renovations and the hoped-for financial injection. This problem is often homemade. Insufficient company financing leads to a liquidity bottleneck. The company relies on a loan. However, if the corporate financing is unsuccessful and the required injection of funds is rejected by the bank, the company can quickly be restructured. To reorganize the company, you need one thing: money – and where do you get it from if the bank has already refused to finance the company? Refurbishing a company is not an easy task. And even if successful, crisis management must continue. In turn, borrowing in some form is required for the renovation. Corporate finance in the event of acrisis and raising capital when reorganizing a company is a tedious and difficult undertaking that you should seek advice from professionals.

 

Growth finance – corporate finance, alternative to development bank

Growth finance - corporate finance, alternative to development bank

But it is not only when a company is restructured that corporate financing through a financial injection is difficult. Companies also find it difficult to finance growth, for example, because a development bank, ie a promotional bank, cannot be found or the development bank does not keep up with growth financing. The company also needs liquidity in the form of outside capital for this type of corporate financing.

Since the liquidity of small and medium-sized companies is often not sufficient to finance growth, a financial injection from a development bank is required. It often fails because the development bank sees too great a risk in financing the company’s liquidity through external financing. Financing for growth would be an important part of corporate finance for a company. Nevertheless, the build-up banks are at a cross. How should you proceed with growth financing? With growth financing in particular, one should look around for alternative company financing in order to improve the company’s liquidity.

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Loan Despite Credit Bureau entry

Regardless of the credit rating, Credit Bureau has data entry for every consumer. Lightning loans despite negative Credit Bureau are often advertised on the Internet and sometimes in newspapers. The Credit Bureau entry is an important factor in the German banking industry when assessing the creditworthiness and credit limit and is therefore used for every loan application. A Lite Lender is also possible with Credit Bureau entry. Why do you need a lightning credit despite Credit Bureau?

Blind loan despite Credit Bureau 

Blind loan despite Credit Bureau 

A lightning credit despite Credit Bureau is possible if the applicant’s earnings are above average. The Credit Bureau entry is an essential part of the credit assessment and credit limit in the banking industry in Germany and is therefore used for every loan application. In the Credit Bureau, a late payment or receivables from other loans could be included and thus reduce the internal ranking.

Therefore, many debtors decide to opt for a lender who does not check this Credit Bureau entry. This means that there are still opportunities for a loan, even if the fact that Credit Bureau does not carry out an examination does not necessarily have a favorable effect on the applicant’s credit limit.

Of course, the credit institutions are quite clear about why the debtors choose a non-performing financial loan. However, as the name suggests, a lightning credit is still possible despite Credit Bureau, even if Credit Bureau is checked as part of the loan application. The house bank can also overlook a positive Credit Bureau entry if the debtor’s entry is only slightly burdensome and the bank’s internal credit rating is therefore only slightly reduced.

Credit provider

Credit provider

In the credit comparison, service providers can be found who, on the one hand, have a higher acceptance and, on the other hand, also offer the chance of a lightning loan. The Lite Lender is characterized by a particularly quick processing of the loan application, and the amount of money, if the Lite Lender was approved despite Credit Bureau, is also transferred by express transfer.

A small negative mark in the Credit Bureau is by no means a broken leg for potential debtors, but a very bad Credit Bureau can still be refused despite a proper budget. A slightly negative Credit Bureau result in no way results in a rejection if the borrower in return has a very high net income from a fixed activity.

Ultimately, the individual case of the borrower is of course also decisive in the case of a lightning credit, which is why general information can never be given in advance.

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Current account credit – The overdraft facility for companies

While crowdfunding, factoring and leasing regularly make waves and reach the corporate finance market with new opportunities, what is the most important financing instrument for many entrepreneurs is increasingly forgotten: the overdraft facility. Of course, this does not mean that other financing options are unimportant – on the contrary: A balanced financing mix is ​​only advisable for companies of all sizes, but the current account credit should not be forgotten.

 

What is a current account credit?

account credit?

A credit agreement enables a company to overdraw its account at any time up to a previously agreed amount. In return, the company pays interest to the bank on the excess amount. The current account credit is ideal for overcoming short-term liquidity bottlenecks or managing unexpected costs. Here we have summarized more information about the overdraft facility for you.

 

Companies accept high interest rates

Although the overdraft facility is part of the standard repertoire of every successful company financing, many entrepreneurs are not aware that they are paying significantly too high interest rates on the loan – some even accept it. A current survey by the Central Hard Goods Trade Association comes to the conclusion that companies usually pay interest on the current account from less than 7% pa to 12% pa. This fluctuation can also be explained by the different loan volumes and the widely differing credit ratings of the companies, but the cause of the problem is deeper.

 

Bank-independent advice as the key to independence

Bank-independent advice as the key to independence

Many companies accept worse conditions at the house bank because they value the advisory work of the customer advisors in addition to the capital, because small and medium-sized companies in particular often rely on external expertise when it comes to financial planning – but this can also be organized independently of the banks.

Free advice and top loan conditions

If you want to avoid being too dependent on your bank, consult various partners. Financing.com GmbH has created a tailor-made offer for this, which offers you maximum convenience: We advise you free of charge on all financing questions and provide you with a financing mix at very good conditions. How exactly does it work?

More capital at more favorable conditions in 3 steps

  1. We negotiate for you with banks and financing partners
  2. We compare the offers of numerous partners
  3. You will receive a tailor-made offer

Particularly attractive: it will only be concluded if you are satisfied with the offer. All of our advice and quotations for you are free of charge – so you can only win.

 

New liquidity through monthly cost savings

Thanks to the improved conditions, you have a high monthly cost saving. An improved current account credit interest rate alone will relieve your accounts in the short and long term. For example, you can invest the newly gained liquidity in the growth of your company.

 

Better conditions and independence through a diversified financing portfolio

credit loans

The overdraft facility is an essential means of financing for companies and accompanies them for a lifetime. It is all the most important that current account and interest rates serve the good of the company and do no harm. A diversified financing portfolio is also essential for a good basis for negotiations with banks and other financing partners – this includes both different financing models and different financing partners.