Category Archives: Uncategorized

Payday loans Will be Limited in Quantity

The central bank intends to reduce the number of microfinance loans issued to one borrower to the most common types of citizens, often called “payday loans”.

Payday loans will be limited in quantity

It is proposed to do this by the efforts of the market participants themselves – by self-regulating organizations and credit cooperatives, by changing and supplementing the basic standards, which, in turn, are mandatory for any microfinance company.

SROs themselves, better than others, will be able to develop all the necessary detailed requirements, both for borrowers and for companies issuing loans before paycheck. Among the innovations should be indicated the number of microloans for a short period, which will be allowed to issue to one borrower. The conditions for the possibility of extensions will also be described. The proposed changes will be submitted to the Central Bank for approval.

Opinion of some microfinace organizations about Payday Loans

Microfinance organizations have expressed positively about this limitation. Moreover, innovations should simplify the task of assessing the risks of the company associated with the issuance of such loans.

Loans before paycheck

For the time being, only such types of services will be affected as loans before paycheck – microloans that are issued for a short time. As for the larger loans that are issued by the MFI, it is still considered impractical to introduce such requirements.

Why Monitor Credit Score? Check it out!



Monitor Score and Credit – When was the last time you monitored your CPF or checked your credit score or figured out how your credit report looks for improper restraints? If your response is more than a year, we strongly recommend that you do so even today.

Is it worth monitoring credit score?

There are a few many ways the credit score and your score affect your life positively and negatively. A more common example is when you apply for a personal loan or when you make the big decision to buy a home through a home mortgage or even when you are hired for a new job ( this is for sure – employers can check your credit score!) etc.

Your credit history may be the difference between you having a zero or very low interest rate, or bad with interest rates approaching 15 to 19 percent. This is also true – loan for negatives with restriction costs very expensive. Card without consultation as the prepaid in general has very high costs for the holder. Today we will explain why every Brazilian should monitor their credit regularly.

Protecting yourself against identity theft and financial fraud


Protecting yourself against identity theft and financial fraud


Let’s look at this scenario. You have focused on paying all your bills every month right and have taken all necessary steps to build your credit score consistently and progressively. You’ve been on the right track for the last few years, and decide that it’s time to check your credit score to see how far you have progressed at this time – and find out the worst ” oh no! ”

Your credit score not only has not improved, but has dropped significantly since the last time you consulted. That can not be correct! Upon closer examination, you find that you have a negative enrollment because of unpaid debts from an unfamiliar credit card in your current report.

Although you have no idea that this occurs, thousands of Brazilians are victims of cloned cards and undue solicitations that generate losses of more than 10 million reais in identity fraud every year. Good, and what do you do now? If you find a situation involving fraud in your credit report contact the lender for, ” dispute and eliminate the errors in your history “.

If you have recently been a victim of fraud or you have reason to worry that you may be an easy target, Score monitoring and credit monitoring services can give you the comfort and tranquility you need. The credit monitoring or CPF monitoring, notifies the citizen whenever there is a significant changes in the credit report, you are notified by SMS, email or letter as soon as possible.

Note that this is not a great way to avoid scams, but a great way to respond as quickly as possible if you fall victim to one.


Maintain efforts to build credit


Maintain efforts to build credit


When you are trying to establish and increase your score or rebuild your credit, monitoring your CPF regularly is a great way to safeguard your efforts. The satisfaction of watching the increase in credit score from to good (625-699), to very good (700-799), is truly amazing.

You owe it to your financial future, try to correct any problems that are negatively affecting your score whether it is fraud, forgetfulness or lack of money for payment. Stay on track, stay motivated and keep building your score month after month.

How and where to monitor score for free?


How and where to monitor score for free?


Historically, it would cost a hefty fee for credit monitoring services. Many Brazilians still think they need to pay a fee to verify this credit information, but the incredible thing is that any citizen can check their score for free whenever they want. There are a few more recent services that allow you to check the credit score and break down any restrictions entered in the report.

Today, websites such as the “Consumer Serasa” and “Positive Consumer” will monitor Score by providing free monthly credit reports. You can check your scores and restrictions on these services in just a few minutes. These are free however there may be sending offers and promotional products such as new credit cards or financial services.


Real Estate Loan: hardening conditions?

Banks are selective about granting a mortgage, especially on long terms, bridging loans and 110% loans.

Real Estate Loan  – End of Long Term?

Real Estate Loan  - End of Long Term?

Banks do not lend much more mortgage loans beyond 25 years, and when they do, the rate is necessarily dissuasive. Since the beginning of the year, it is more difficult to borrow for long periods. Some banks have decided to no longer lend over 30 years, simply to refuse files over periods longer than 25 years or have significantly increased the rate to limit the flow of records.

Optimizing the loan setup

Mixed rate loan This type of loan is fixed for a given period (5, 7, 10 or 15 years), then revisable afterwards, most often capped 2. The customer then benefits from a lower rate that allows him to shorten the duration of his loan. This loan avoids the risk of a rise in the interest rate during the first years, years during which the interest to be repaid is the highest. This formula is very interesting for first-time buyers who have a high probability of selling their property before 7 years.

Evolutionary Loan Some banks offer a so-called “scalable” loan that is well fixed rate throughout the life of the loan, but which is accompanied by an automatic maturity adjustment of 1% per annum. As a result, the initial monthly payment , from which the debt ratio is calculated, is lower, which makes it possible to borrow more or reduce the duration of the loan.

Some institutions no longer accept files without contribution or encourage people to sell before buying a new property, this to avoid the excesses of the bridge loan.

Sell ​​before buying!

Sell ​​before buying!

Banks are very cautious in granting a bridging loan allowing an individual to finance a new purchase before selling his property. They tend to downgrade the valuation of assets. Their worries about the evolution of the residential market push them to reduce the amount of the credit relay granted compared to the amount of expertise which often prevents the borrowers to invest again.

Buy-Sell Loan

Buy-Sell Loan

A single credit covering the entire project taking over the old loan and financing the new property. The client is 2 years old to sell his property in the best possible conditions. Once the sale is made the customer has the opportunity to keep up to 20% of the amount of the sale or reinject the entire sale in its loan which allows it to either reduce the duration or the monthly payment.

With or without input?

The most obvious consequence of the tightening of mortgage loans is therefore felt by borrowers with only limited initial capital (personal contribution or first acquisition). The time has passed when it was easy to borrow over 30 years with a personal contribution covering only ancillary costs (notary, guarantee, etc.). The time now seems to be shifted to “zero risk” for banking institutions in which the sovereign debt crisis and the requirements of the new European regulations (Basel III) are heavily felt. Banks are relying almost exclusively on mature acquisition projects guaranteed by surety companies.


Credit Card- What Are The Numbers On A Card And What Do They Mean?




Do not know what the numbers on a credit or debit card mean? Here we will explain what is each card number and its meaning, both on the front of the bank card and on the back

December 14, 2018 by Manuel Gimeno


  • 1 Numbers on the front of the card
    • 1.1 PAN or card number
      • 1.1.1 First digit
      • 1.1.2 The first seven digits
      • 1.1.3 The remaining digits (with the exception of the last one)
      • 1.1.4 The last digit, the control digit
    • 1.2 Expiration date
  • 2 Numbers on the back of the card
    • 2.1 CVV, CVV2 or security number
  • 3 What is the difference between the card number (PAN) and the account number and the IBAN?

Credit cards and debit cards offer very important information on both their front and back sides. However, many people do not know exactly what the numbers on a bank card mean . Like everything in this life, each number, each exposed data, has a logical explanation and a necessary function, and in this text we will explain in detail the meaning of everything that appears on any bank card .

All that will be explained next is part of the numbering of the bank cards that were established in 1989 under the ISO / IEC 7812 standard (ISO / IEC 7812-1: 2006 currently in force) by the International Organization of the Normalization (ISO). The objective was to create a numbering system for the identification of the issuer of the card, for the identification of the card itself (Issuer Identification Number) and to collect the data of the cardholder.

Front numbers of the card

 Front numbers of the card

PAN or card number

If we take a look at any of our credit or debit cards, we will see that on the front of it there is a very long number formed, generally, by 16 digits , in addition to the name of the holder, the name of the entity, the chip of the card, the international brand and the expiration date. This number is the PAN or card number, which in American Express have 15 digits, in Diners Club it has between 14 and 15 and in most other entities 16, up to a maximum of 19 digits. These numbers, as we have pointed out above, have not been put to chance , but rather respond to ISO / IEC 7812-1: 2016.

These card numbers have a meaning and a function depending on their position. Next, we will analyze each of them:

First digit

first digit card number

The first number of the card has the function of identifying the sector to which the issuer of the bank card corresponds . In this way, from a simple glance you can know if the card has an issuer to a bank, an oil company or an airline, among many other options:

This is the ratio of numbers and types of issuer of the cards to the first digit:

  • 0 : ISO / TC 68.
  • 1 : Airlines.
  • 2 : Airlines, financial companies and other future assignments of the industry.
  • 3 : Travel and entertainment (American Express).
  • 4 : Visa.
  • 5 : Mastercard.
  • 6 : Discovery Card.
  • 7 : Oil companies and other future industry allocations.
  • 8 : Health, telecommunications and other future assignments of the industry.
  • 9 : Number reserved for the use of the country where the card operates.

The first seven digits

first seven digits card number

After the first digit described above, the following six constitute the identification number of the bank card . Next to the first digit, these seven numbers allow to establish the type of card, the type of issuer and the geographical place where the card has been issued . For security, both the number ranges of issuers and countries are totally private. All these numbers are what is known as INN (Issuer Identification Number).

The remaining digits (with the exception of the last one)


Once the first seven numbers of the card are left behind, the following refer to the information of the bank card holder . These numbers are an internal code that the bank assigns to the card of each of its clients based on its own way of carrying out the numbering. For this reason, the way in which financial entities carry out the numbering is totally private.

The last digit, the control digit


We leave the last digit for the end, which has a special function. This number is responsible for confirming that the rest of the numbers on the card are correct , and can do so thanks to Luhn’s algorithm . This algorithm is able to algebraically relate the rest of the digits to produce the so-called control digit. Generally, the check digit is in the last position of the card number.

Date of Expiry

expiration date and validity of the card

The expiration date is just below the PAN or card number, and its purpose is to indicate to the user the date until which the credit card is valid . These digits, which indicate the month and year until the end of validity, are usually requested for purchases made over the Internet, as an extra security measure to confirm that the user who makes the purchase also has the card in his possession.


Numbers on the back of the card


Numbers on the back of the card


But any bank card offers more information on the back of the card. In the back, in addition to the magnetic stripe (if there is one, as it is becoming less common) and the signature panel where the cardholder must sign, there is the CVV or CVV2, the security number that we now turn to detail:

CVV, CVV2 or security number

CVV stands for Card Verification Value , and is a number that consists of three digits that appear on the back of the bank card. This number supposes an extra barrier of security , since it is usually asked when carrying out the online purchases to verify that the buyer has the card in his possession.

Unlike the PAN or card number, the CVV is set randomly, and changes each time the card is replaced (even if the PAN does not change). Having no relief, it is even more difficult to clone this set of three numbers. If you want to know everything about the CVV, you can discover all its features and function in the following link .

What is the difference between the card number (PAN) and the account number and the IBAN?

 What is the difference between the card number (PAN) and the account number and the IBAN?

It is important to note this difference because many people confuse the card number (PAN) with the bank account number (IBAN). These two sets of numbers are totally different , both in the way in which the information of the digits is organized, and even in the number of digits that compose them.

Even though the PAN or card number is linked to an account, they are not the same number. The account number has 20 digits that have the following meaning:

  • The first 4 numbers : These digits let you know to which entity the bank account belongs.
  • The following 4 numbers : These digits are responsible for identifying the office in which the bank account was contracted.
  • The following two numbers : These are control digits, with a function exactly equal to the last digit of the bank card. These two digits confirm that the rest of the numbers are correct.
  • The last 10 numbers : They are responsible for identifying the owner of the account and identifying the bank account itself.


The Zero Rate Loan: Operation and Benefits

The new Zero Rate Loan has been in effect since 1 January 2019. This is a flagship government measure that aims to facilitate access to property especially for young people. New or old housing, resource ceilings, loan amounts, repayment terms, … discover everything that changes!

Zero Rate Loan Summary:

Zero Rate Loan Summary:

  1. The zero interest loan, what is it?
  2. How to access and use
  3. The advantages of the Zero Rate Loan
  4. What are the new repayment terms?
  5. How to subscribe or inquire?
  6. Can we cumulate the zero rate loan with other loans?
  7. What are the new loan amounts?

Real estate loan for first-time buyers, that is to say, those who purchase for the first time their principal residence, whether new or old. Nevertheless, if you buy in the old, it will be necessary to carry out works whose cost represents at least 25% of the total value of the operation.

The 2016 Finance Act also stipulates the obligation to occupy the dwelling for at least 8 months per year and for a period of at least 6 years from the first release of funds. The loan is a no-cost loan whose interest is borne by the State.

In 2018 Article 40 of the draft finance law extends and amends the loan. The text adopted by the National Assembly on November 21st makes the following changes:

  • extension of the loan in the new zone A, A bis and B1 until 31 December 2021
  • extension of the loan in the new zone B2 and C until 31 December 2019
  • refocusing of the loan in the former on zones B2 and C

In 2019 the loan was renewed on the same terms as those in place in 2018.

planning tax that will allow this tax reduction.

What are the new repayment terms?

What are the new repayment terms?

Depending on your income and the geographical location of the housing, repayment conditions are established and you are put in a bracket that determines the terms of repayment of your mortgage.

To calculate your repayment period, you first have to calculate the total household resources divided by the family coefficient determined by the number of people in the household.

The total resources of the household will allow you to know according to your geographical zone the total duration of the credit which is granted to you to repay the Zero Rate loan .

The higher they are, the shorter the loan term

The higher they are, the shorter the loan term

The repayment period therefore depends on the borrowers’ income. Now, every borrower has a deferred repayment. The repayment of the Zero Rate Loan can begin 5, 10 or 15 years after the loan according to household income. The loan term can be extended over 20 years for the most modest households. It is also possible to prepay a Zero Rate Loan under certain conditions.
loan simulation

NOT loan, Housing Savings Loan (PEL), eco loan, employer loan or local loans offered by some cities or communities. However, it is not possible to obtain a buyback of zero interest credit.

However, the amount of the loan at 0% can not exceed the amount of the other loan (s) with a duration of more than two years to finance the operation.

Mortgage Rates – Real Estate Loan Rate

Check out the mortgage loan rates for the month of July 2018 that we can obtain from our banking partners.

Rates remain low for this sunny month and allow borrowers to finance their purchase at the lowest rate! After a fall in rates over the last 4 months, these seem to be stabilizing.

Our best property rates from July 2018

Our best property rates from July 2018

We suggest you consult the best current rates we can get:

term of the loan Best national fixed rate Trend Monthly *
7 years / 84 months 0.45% Stable = $ 120.95
10 years / 120 months 0.75% Stable = $ 86.52
15 years / 180 months 0.95% Stable = $ 59.63
20 years / 240 months 1.10% Stable = $ 46.44
25 years / 300 months 1.30% Stable = $ 39.06

* Monthly payment excluding insurance for € 10,000 borrowed capital

Evolution of mortgage rates 10, 15, 20 and 25 years

Evolution of mortgage rates 10, 15, 20 and 25 years

Track mortgage rates over 10, 15, 20 and 25 years from January 2015 to today with our interactive chart, select the date and time you want to see the best rate:

Real estate rate analysis of July 2018

Real estate rate analysis of July 2018

The month of July 2018 is not synonymous with vacancy for students from all over France. Indeed during this period of the year the banks tend to limit the number of files they receive due to the decline in activity.

For this, they usually increase borrowing rates. This is a trend we have seen for many years with the banking institutions we work with.

However, a decrease in volume does not mean a complete cessation of the flow! Use a mortgage broker to increase the chances of your credit report being finalized in the best conditions and to obtain the loan offer at the best rate.

Rates rise slightly for this month of July 2018 because of the desire of banks to limit the number of files.

Renegotiate to gain purchasing power

If you have not done so yet, do not forget that buying a mortgage on your home loan from your bank is still possible. You can get a mortgage with a lower rate . That’s why it is advisable to do an online simulation and compare offers online to enjoy historically low rates!

Do not neglect the borrower insurance!

Just as for the previous months, we should not neglect the loan insurance at the time of subscription. You can make big savings by negotiating compulsory insurance, perhaps even more than by lowering the bank’s interest rate on the loan.

Here again, we recommend using a loan insurance broker or a borrower insurance comparator. This will be able to redirect you to the insurance delegation that best fits your profile.

Real Estate Loan Redemption Simulation

You want to make a real estate mortgage redemption simulation and get a better loan credit rate ? Do a simulation and compare how much you could earn with a new loan or changing a bank.

How to use the credit redemption simulator?


Whether you are a landlord, tenant, individual, professional, civil servant, executive or non-executive employee, it is possible for you to make a real estate mortgage buy-back. Fill in the form fields starting with the details of your current immo loan.

Then fill in the information on your new credit: loan rate and duration. The real estate buy-back simulation will tell you whether it is worthwhile, or not, to complete this transaction and the potential savings that can be realized.

The credit redemption calculator does not take into account home loan insurance, which can significantly reduce the cost of Taeg.

Why buy your mortgage?

Why buy your mortgage?

Realizing a real estate loan buyback is to redeem his home loan by a competing credit institution that will apply the current conditions of borrowing. Mr. Hyde is responsible for finding the banking organization that offers the most advantageous property rate according to your needs.

The lower mortgage rates are, the more attractive it is to buy back the loan. There is a significant gap in applied rates and an opportunity not to be missed thanks to this rate cut. Renegotiating your home loan with financial institutions at a more favorable fixed rate can reduce either the amount of your monthly payment or the duration of your credit.

Do not forget to take into account the guarantee and prepayment fees.

How to make a real estate mortgage redemption simulation online?

This request for repurchase of mortgage loan is calculated thanks to the amount of the possible savings to realize on the total cost of your mortgage. With our credit redemption simulation calculator, check if this transaction with current rates is profitable.

If the outstanding capital is more than 50 000 euros and the remaining term of your credit is more than 7 years , then you have every interest to go through a credit broker that will redirect you to another bank for your loan redemption .

Have you determined that changing banks could be beneficial for you? Use our credit comparator to be contacted by an expert who will accompany you in your loan renegotiation:

This operation is to be differentiated from a consolidation of consumer credit which consists of merging all your consumer loans into one and the same monthly payment.

Example of credit surrender calculation

Example of credit surrender calculation

To go further, let’s take an interesting case example for a credit redemption:

  • You have taken out a credit of € 250,000 over 20 years at a rate of 1.8%
  • 3 years later, you want to buy a loan because the rates are lower
  • You still have a remaining capital of € 217,071, including penalties and guarantees, the amount to be redeemed is € 221,641.
  • On a new loan offer of 17 years at a rate of 1.1%, the estimated amount you can earn is 9173 €

The loan renegotiation can therefore be very interesting if there have been significant rate variations since the time you made your loan. The repurchase of credit can allow you to reduce the cost of your monthly payments or the duration of your loan.

Credit cards – Loans Against Them


Knowing if it is possible to have a credit card while at ASNEF is one of the most recurrent issues among our readers. Today we answer that question and offer alternatives to get fast money


In this text we will answer the question of whether it is possible to apply for credit cards with ASNEF in 2018 , thus clearing one of the most frequent doubts. That your name appears in a list of defaulters like ASNEF or RAI is a problem, because surely you will be denied the requests you make for almost any financial product.

However, we will also explain in the following lines what alternatives you have if your name appears on a list of defaulters and you are looking for some credit to solve a certain problem.

If you are looking for credit cards with ASNEF, do not lose sight of everything that comes next:


  • 1 Is it possible to have credit cards with ASNEF in 2018?
  • 2 Can I still use my credit card if I am in ASNEF?
  • 3 Minicréditos, the alternative if I am looking for credit cards with ASNEF
    • 3.1 Caution with mini-credits with ASNEF
  • 4 How can I leave ASNEF?

Is it possible to have credit cards in 2018?

Is it possible to have credit cards in 2018?


how to get a credit card while in asnef


No The answer is clear and I’m not going to deceive you or make you vague explanations. It is not possible to request a credit card being on a list of defaulters such as RAI or ASNEF because one of the basic requirements placed by banks with this type of financial product is that the applicant has not incurred any default.

A credit card offers its bearer a line of credit that can be used to make purchases of goods and services. This arranged credit must be returned at the end of the month or in various terms (with their respective interests) with circumstances that vary depending on the financial institution. Therefore, the bank needs to make sure that the cardholder has a completely clean record of defaults . If you do not know whether or not you are in a defaulter file, I recommend you read this text .

A person can be in ASNEF or RAI for small debts, it is not necessary to owe a large amount of money to do in these lists . To be able to ask for a credit card you will have to leave the lists of defaulters, which you will get by paying the debts that you have. At the end of this text I will explain how to leave ASNEF.


Can I still use my credit card?


I can use credit card with asnef


In principle, yes . In the event that you already have a credit card and have recently discovered that you are in ASNEF, you can continue using your card normally. That you are in ASNEF or RAI should only affect at the moment you are going to request a product of credit, as it is the case of the credit cards.

However, it may be the case that your entity finds out that you have been included in a list of defaulters and that you can withdraw the card . This assumption is much more likely if the debt is right with the same bank with which you have the credit card. If you can, you should pay the debt as soon as possible and leave the ASNEF or RAI lists .

Minicréditos, the alternative if I am looking for credit cards 


mini-credits with asnef


If you are looking for a credit card and you are in ASNEF or RAI, surely what you want is to have a small line of credit or loan to cover your needs. There is an alternative that you can study, although it involves risks that we will explain later. This alternative is mini-credits .

This is because there are certain companies that do offer small loans without taking into account that a person appears on a list of defaulters or not . However, there are certain conditions that must be fulfilled in order to be able to choose one of these mini-credits , and which are essential requirements to accept your request:

  • If you are in ASNEF or RAI for a debt, this should not be related to any financial product : If you appear in a list of defaulters, in no case may be for having stopped paying a financial product such as a credit card or a loan . In this case, they will not grant you the mini-credit.
  • The total amount of what you owe must not exceed a certain limit : Each financial institution or company that offers a mini-credit while at ASNEF or RAI places a certain limit on the debt incurred. This limit can range from € 200 to € 2,000, depending on the risk the lender wants to take.

Caution with mini-credits 

Although they are an effective alternative to credit cards with ASNEF or RAI if money is urgently needed, requesting a mini credit is not free of risks , and you have to know in detail the conditions of this type of financial product to avoid unpleasant surprises in the future.

Next, the two main aspects for which we must be careful with mini-credits :

  • The repayment period goes from 7 to 30 days with a single payment : The return period for the mini credits is very short, so you only have to use them to solve a specific situation in which you know you are going to be able to return the borrowed money quickly.
  • The average daily cost is 1.1% : The minicréditos have very high interest, so every day since obtaining the same interests are generated at a rate of 1.1% (on average) on the value of credit ready.

How can I leave ASNEF?

How can I leave ASNEF?

how to get out of asnef to get a credit card

At this point, if you do not want to take the risk of asking for a mini credit and you want a credit card, what you should do is leave ASNEF immediately. In this text I explain in detail how to leave ASNEF , but now I will give you the basic guidelines to achieve it:

  • Pay the contracted debt : Something obvious, because to get out of a list of debtors such as ASNEF or RAI you have to pay the debt for which our name appears. Once the debt has been paid and by article 41.1 of Royal Decree 1720/2007, the entity with which we have contracted the debt must inform ASNEF or RAI that we have already complied with our credit obligation.
  • Communicate to ASNEF the payment of the debt : Once the debt with the bank has been settled, if you have not been in a hurry to request that your name be removed from the lists of defaulters, you must ask the financial institution for proof of the cancellation of the non-payment. . In this way, we will deliver to Equifax (the company that manages the list of defaulters ASNEF) through its website the corresponding information to remove our name from your file.