The Good Finance Bank Credit Limit is a flexible loan of up to USD 1,200. It’s a quick and easy way to refill your wallet when you need it. Anyone can find themselves in a situation where they need a sum of money that is neither in their account nor in their pocket at any given time. The credit limit is a cushion for cases requiring a cash reserve. This is a modern type of loan that works similar to bank credit cards.
Withdraw money until you have reached the maximum loan amount
If you use the credit limit for the first time, you will not be charged a commission for the first 30 days. The credit limit allows you to withdraw money until you have reached the maximum loan amount. You can withdraw extra money even if you have not paid back all the money previously taken.
The key is to make monthly minimum payments on time, which allows you to continue using your credit line. You do not need to repay this loan in one installment – the entire amount at once. Of course you can do this if you wish, but it is enough to pay the monthly minimum payment on time to slowly repay the loan.
Maximum credit limit available to you
Based on your repayment options, we determine the maximum credit limit available to you. You will be able to view it on your client profile after you have completed the credit limit application. You can withdraw this amount all at once or use it in installments. This money is available to you on all your devices anytime, anywhere. Just a few clicks to apply for a loan and get money in your account.
If you use the credit limit for the first time, you will be able to use the service for free for the first 30 days. In this case, you have 30 days to repay the loan in full – repay as much as you borrowed. In the event of a refund in the longer term according to the payment schedule, there will be no commission for the first 30 days.
The first time you use your credit line, the maximum amount available is $ 1,000 (but after evaluating your repayment options, the amount available to you may be less than $ 1,000). This amount may be increased to € 1,200 in the case of repeated borrowing and timely payment.
Payable only for the duration of the loan
The commission, or daily interest rate (0.2483% of the amount used), is payable only for the duration of the loan. The daily fee is less than a quarter of a percent and is only calculated on the amount used. How long you will use this service is up to you. Once you have repaid all the money you have borrowed, the commission is no longer calculated, but the credit limit is still available to you and you can reuse it when you need it.
You can borrow money again until you have reached the maximum credit limit set for you. Until this amount is reached, you can borrow money again and again without borrowing limits. You will see the amount available in your customer profile.
The total repayment amount consists of the total amount of credit limit used and 0.2483% of this amount for each day the credit limit is used. The amount used must be repaid in installments, with the minimum monthly payment being made in due time.
You can decide how much to refund, but that amount cannot be less than the monthly minimum payment invoiced. The amount of the monthly payment depends on the amount of credit limit used and the number of previous payments. The invoice is issued 2 weeks before the due date, which gives you 14 days to pay the invoice.
The minimum payment may be USD 30 + a daily interest rate of 0.2483% for each day of use of the service or 10% of the used credit limit amount + a daily interest rate of 0.2483% for each day of use of the credit limit.
• If your credit limit is $ 279 or more, the minimum payment in the first months will be 10% of the amount used plus a daily interest rate of 0.2483% for each day you use the credit limit, but after several payments it will drop to $ 30 plus daily interest a rate of 0.2483% of the amount used for each day of use of the service.
• If you withdraw less than € 279, the minimum monthly payment will be € 30 plus a daily interest rate of 0.2483% of the total loan amount for each day of use.
• If you borrow € 29 or less, there is no monthly fee. The loan must be repaid within one month (provided that the credit limit is used only once). In this case, a daily interest rate of 0.2483% for each day of the credit limit is also applied. The credit limit bill shows two amounts. One is the total amount of debt that is not required to be repaid in a given month – you are informed of the total amount of credit limit to be repaid. The other amount on the invoice is the minimum amount to be reimbursed – this payment is mandatory and must be made within the invoiced term.
If you want to reduce your total debt and repayment time
You can also pay more than the minimum invoiced amount if you want to reduce your total debt and repayment time. But you must remember that the money you pay in addition to the minimum bill amount will not cover the next month’s bill or part of it. It will be used to reduce the total amount of money issued. But next month’s bill will, of course, go down because the principal you borrow will be lower.
The total number of months the loan is repaid depends on the amount used and the amount of money withdrawn. If you repay the entire amount at once, you will no longer owe anything until you re-use the credit line.It is a flexible cash reserve for unexpected situations that may surprise anyone. It’s much easier to have a backup plan ready and know what to do if you suddenly find yourself in an emergency.