Travel credit – What are the options?
If we are gripped by the urge to travel, it often cannot go far enough. Distant countries, lonely beaches and the desire to immerse yourself in the cultures of other countries and people are at the top of the program.
But a trip can be really expensive. Even if you are humble and don’t head for luxury hotels. Especially if a longer trip is planned, it can quickly use up your own financial resources. A credit for a trip then helps, which can be taken up in advance and used skillfully.
What are the options for a travel loan?
In principle, there are several points of contact for a loan for a trip. The easiest way is probably to take out the loan directly in the travel agency. Insofar as you visit this for booking your trip.
Many travel agencies now have financing offers available because they know very well how expensive a nice holiday trip can be. The fact that you cannot make a comparison with other offers with such a procedure is due to the convenience. You should consider this in advance before deciding on this route.
However, you can make a comparison if you take out an installment loan from any bank. Here you have the freedom to choose not only the amount of the loan, but also your lender. If you choose this carefully and ensure that the creditworthiness is at a high level, you can benefit from very cheap offers with an extremely low effective interest rate. You can often find these among the offers of direct banks, which you can only access via the Internet. You can find the appropriate forms for applying for a loan for a trip either directly from the individual banks, or conveniently using the comparison calculator that you used in advance for your comparison.
Tip: When using an installment loan, plan a few days to make the money available, as the direct banks in particular will not be able to provide the money within a few hours. From a purely technical point of view, this is not possible because all documents have to be exchanged and legitimation has to be carried out first. You should therefore plan two to three working days to make the money available.
When should he be admitted?
The credit for a trip must be taken out in good time. Many trips are booked and planned months before the actual travel date. If the money is then not available to pay the costs, there will be no trip. So make sure to get financing in good time so that you can start your vacation relaxed.
What needs to be considered?
The banks in our country require a fixed income to take out a loan. If you want to go on a longer trip or go for a very expensive vacation to distant countries, you have to make sure that this fixed income is also available during this time. You can therefore take a maximum of leave and not be given notice. The employer must be willing to keep you employed even after the trip.
If you have any concerns in this regard or are planning a complete exit from the world of work, we recommend that you take out an installment loan in good time as a loan for a trip. It is not earmarked, which means that you do not have to tell the lending bank what you need the money for.
Also keep in mind that you will be obliged to pay the bank despite your trip. You must be able to service the loan on time in order not to be in arrears. If you are traveling longer, it is worthwhile to employ a second borrower who coordinates the payments while you are away and ensures that you do not fall into the debt trap. On top of that, you can make flexible repayment agreements with the lending bank. Many banks offer that repayments do not have to start immediately after borrowing, but only at a later point in time. In your situation, this is most likely a very worthwhile option.