The new mini-credits offer up to 1,000 euros in 15 minutes- application url. Learn what these new financing products are and discover the mini-credits with which more money you will get. Compare between different options to get the one that best suits your profile.

What are the new mini-credits?

The new mini-credits are the youngest in the market. Private companies that operate within the Spanish financial market offer this type of fast online loans with which we can obtain relatively small sums of money (between 50 and 1,200 euros) in a matter of a few minutes. These products have become very popular among the families of our country because they offer some advantages that are not common in conventional banking:

• They are granted in a matter of minutes. When requesting the mini-loan we will receive an immediate response from the entity where they will inform us if our proposal has been granted and if it is, we will have the money in our account in a matter of minutes.

• They are requested and contracted through the Internet, which makes them very comfortable and accessible since we will not have to move from home and we will be able to save a lot of time in traveling and filling in paperwork.

New mini-credits have a very short repayment period that usually does not exceed 30 days, while their interest is usually around 1.1% per day. Therefore, if we ask for 100 euros and return them in 30 days, we will end up paying 33 euros in fees. Most online mini-credits are offered by private equity entities, although there are some banks that have also adapted some of their products, for their customers, with similar characteristics.

Promotional offers of the new mini-credits

Thanks to its simple hiring process and its flexible requirements, the new mini-credits granted by private lenders have become very popular among the sector of the population most dissatisfied with traditional banks. As the demand for these products and the number of mini-loan companies have not stopped growing in recent years, competition between these companies is increasingly fierce, which has led them to launch different offers to attract new customers. Let’s see which are the most outstanding promotions:

• A free new mini-credit is one of the most attractive and seductive offers for customers since we can get the requested money without having to pay anything in respect of the fees.

• The discounts on interest when we request new mini-credits is another of the most attractive promotions. They can be rebates from 20% to 50% and in this way, we will be able to pay less in terms of the fees of the mini-loan. Many of these discounts can be obtained if we bring a friend, acquaintance or relative who is going to request a quick mini credit and they grant it. In this way, private entities will get more clients.

• Reimburse mini-credits at different time intervals is another of the new options that some companies have included. As we have already mentioned, most of the new mini-credits have a return period of 30 days from their granting, but in some cases, we can return it within a period of time or several terms, higher or lower.

• The amount that we will be able to request will increase with each mini loan at the moment that we request since there are entities that value very highly the seniority of their clients and reward that loyalty by offering higher amounts.

• Request an extension. More and more entities are allowing us to request an extension if we are not able to return the money they have granted us within the established period. In these cases, we will have to pay an amount for the delay interest that is generated but we will avoid a sanction by the entity.

Of all these promotional offers, the most attractive for consumers is, without any doubt, that of mini credits without interest or commissions for new customers. However, before hiring these products we must be cautious because they can cost more than expected if we do not meet certain conditions.

New mini-credits for your first time

Mini-credits for new applicants do not, in general, have the same advantages as those aimed at the regular customers of these companies. While the former tend to include promotions designed to attract people who use these products for the first time, the latter tend to reward fidelity and punctuality in payment, either with higher amounts or, in certain cases, with discounts on the type of applied interest.

The new mini credit lenders direct almost all their efforts in increasing their client base, so the vast majority of their offers are directed to new applicants. In that sense, many of the free mini-credits that we find in the market can only be contracted if it is the first time we go to a company, as well as most of the promotional discounts. However, despite the advantages offered to us by being new customers, if we ask for a quick mini loan to a company that we have never attended, it will not have enough confidence to let us access the maximum amount. Therefore, in these cases, the highest amount we can borrow is between 300 and 500 euros, which will increase as we return the money.

Mini credit instantly for customers

On the other hand, as these companies are also interested in customer loyalty, those who have already requested some type of mini credit instantly and who present a good payment history, they are offered advantages in each new contract.

For example, in most cases, when the loan is repaid on time, the company will improve the terms of the loans that we request later: we can obtain higher amounts, a somewhat longer repayment term or a slightly lower interest, for example.

Normally, customers of online mini-credits will be able to access a maximum amount of between 800 and 1,000 euros and, in some cases, a slightly lower interest rate will be applied or they will be able to return the money in a longer period of time. However, in order to be able to request mini-credits of these amounts, in most cases they have to overcome certain “levels” of confidence by reimbursing a certain number of mini-loans without incidents.

Getting a new mini-credit with ASNEF, is it possible?

Yes, although not in all cases. If our data appear in ASNEF or in any other delinquency file, our options to obtain financing will be greatly reduced, since neither the banks nor many private companies will want to lend us money because of the high risk of default that the operation would entail. However, there are some private companies that can grant us a new mini credit despite having outstanding debts.

Of course, to get new mini-credits with ASNEF through these companies, it will be essential that we show that we have enough income to pay back the money on time. Also, in some cases we will be required to comply with two additional requirements: that the unpaid debt does not exceed a maximum amount (between 500 and 1,000 euros, depending on the company) and that our creditor is neither a bank nor a company of mini-credits.

When is it interesting to hire a new mini loan?

If we want to request a new mini-credit, we must bear in mind that these products are designed to solve small emergencies or to face specific and non- deferrable expenses, not to use them as a usual source of financing. Therefore, before processing the application, we must correctly analyze our economic situation and assess whether these products really adapt to our financing needs and our profile. If after analyzing our situation we still think that these products can be of help, it is advisable that we previously compare several new mini-credits and look for promotions that allow us to save a little money in interest.

Of course, before ordering one of these new mini-credits it is very important that we bear in mind that these products present a higher price than other major credits, so it is not convenient that we request them too often, because we could easily fall into over-indebtedness