If you want to take out 12,000 USD in credit, you have to take a closer look if you want to find the one from the multitude of providers who makes the best offer. Here it must be said frankly that the “best” provider does not exist because most banks operate with interest rates that depend on creditworthiness. You can find out more about this in our article.
Credit comparison is important
In our example we compare offers for a credit of 12,000 USD with a term of 60 months. Here we find in best credit banks in the first three places. For all providers, the rate for a 12,000 dollar loan with a 60-month term is less than 220 USD. This is cheap and the advertised interest rates also look attractive.
But you have to keep in mind that all three offers are loan offers with interest rates that depend on the credit rating. That means, how high the interest rate and ultimately the rate is, you will not find out here. A personal offer must be obtained for this.
However, those interested in credit can see how high the interest rates are approximately from the representative example. With all three providers, two thirds of all inquiries are approved with interest that is over 5 percent. If you look at the acceptance rate of the banks, you can get a further indication of whether the offer is really attractive. The highest approval rate, which says something about how many inquiries go through, has the Nice bank with 80 percent. 80 out of 100 inquiries are approved here.
Consumers with average credit ratings should therefore contact the Nice bank because the chances of a loan application being approved are highest there.
The requirements for a 12,000 dollar loan
The requirements that must be met to get a loan of 12,000 USD are similar for all providers. The applicant must have a permanent employment relationship that has existed for at least six months. In addition, the income must be above the garnishment exemption limit and the customer must have a clean one
Have credit checker information. There are only a few banks that give 12,000 USD in credit if the credit checker is negative.
It is also more difficult for freelancers and the self-employed than employees if they want to take out a loan of this magnitude. Of the banks mentioned here, it is Barclaycard that also grants credit to self-employed and freelancers under certain conditions. Unlike employees, it takes a little longer to approve credit applications from commercial customers because other information is requested.