Acquire Loan is in fact a small revolving credit. You can apply for this at virtually every bank in the form of a credit on a current account or current account credit. It is one of the most expensive forms of borrowing money. We will not promote this form of borrowing at this place. We do not do that with any form of loan.
On this page we give you information about overdrafts, we advise you on less expensive alternatives and we tell you which Dutch banks you can use to request a credit on your account. You can also stop the possibility to turn Card red at the bank and bundle this credit into one larger and cheaper loan.
Do you want to be red? Then realize that there are many better alternatives that you will spend less money on. Card standing is expensive. Of course, even expensive. And that is a waste of your money. Yet there is a demand for this type of credit. And to be honest: Sometimes the possibility to call on a small money reserve gives a safe feeling.
If you can appear in Card on your payment account, you have a small credit on your current account.
Some banks use other loan terms for this. For example, they prefer to speak of a ‘current account credit’ or simply refer to ‘being Card on a payment account’.
It can sometimes be very useful to have a small amount of money on hand for those times when you have no balance, or have little to spend. Did it ever happen that you had insufficient funds in your account? Then you know how annoying that can be. Banks offer customers the opportunity to temporarily be in the red. This can be done up to an agreed limit. You can usually stand in the minus for 3 months. Then you have to replenish your balance.
Occasionally Card red on your payment account can reach an agreed limit. You can be in the Card at most banks from 500 euros up to a maximum of 1000 euros. At the SNS bank you can even withdraw up to 2,500 euros. You only pay interest on the amount that you have included extra. If you put 250 euros in the negative, you only pay over the 250 euro interest. If you are Card for a short while, the costs are not too bad. But if you make more use of the credit limit and also for a longer period of time, the interest costs can rise high. We will inform you about that later.
Not everyone can use the possibility to be in the Card numbers or to: apply for a credit on a payment account. Each bank then applies its own loan conditions. The bank will make a decision based on the level of your income, fixed costs and your personal situation.
You have at least Dutch nationality and live in the Netherlands. Your income must be paid into the account for which you request overdraft. That payment account may also only be in your name. In addition, the maximum amount that you can use is as high as your net monthly income. Your age is also decisive. You must be at least 18 and a maximum of 74 years old.
Card standing is expensive. But that of course depends on the amount that you are in the negative on the payment account and for how long. With a current account credit you pay a variable interest. The interest rate usually changes during the term. The bank determines the interest on the basis of all sorts of costs and also takes into account developments in the capital and money market.
If interest rates rise, you will be more expensive. It will take longer before you have repaid the credit.
You may also be lucky that interest rates fall. But interest rates up to 14% are quite normal when they are . Pay attention to the costs and search for cheaper alternatives. Suppose that the interest on Card is 13% and you take a credit limit of 500 euros. Then you pay interest to the bank approximately 5 euros per month.
If you use overdrafts more often, it is wise to look for alternative ways to temporarily have extra money at your disposal. Do you temporarily need a little money? Do you want to borrow a small amount once? According to Nibud, about 23% of Dutch people are in the Card every month.
They use this option to bridge a period without a salary or to be able to pay unexpected bills. But standing Card must not become a habit. Then look for other possibilities. Do you regularly use overdraft for a larger edition? Then a small personal loan can be wise and cheaper.
Never use your overdraft to make larger purchases. That is terribly expensive. The best thing to do is to take out a small personal loan. You then pay much less interest and can decide for yourself how many installments you will repay the loan. Borrowing a bit of money with a personal loan is already possible from 2000 to 2,500 euros.
A mini loan is a tiny credit with a very short duration.
You can request a mini loan from Ferratum or Cashper. Just like the Card stand, the mini-loan is also an expensive form of borrowing money. The advantage of this is that you can borrow money with a negative BKR. At the bank, you can not take out a credit on a payment account if you have a negative BKR registration.
It is not necessarily unwise to have an account with the possibility to withdraw extra money.
It can always come in handy. However, it is not wise if you use the credit limit too often. Do you increasingly end up in the Card numbers? Then there is the danger that you will end up in debt more deeply. In that case it is wise to structurally come out of the red. Use our tips for this.
Many consumers who have ever applied for overdrafts at the bank have difficulty getting rid of the negative balance. Try to do something about it. Because every year it can cost you up to € 100 or more in interest. And you can use that money better …. That is why we have collected a number of tips for you to get out of the Card as quickly as possible. The tips are below.
Make an overview of your income and expenses
Take note of what appears to be income on your account and what your monthly expenses are. Make an overview of this. Include everything in it. So also any subsidies and allowances such as rent subsidy and care allowance, but also, for example, refunds from the tax authorities. If you know for yourself how much is going out and how much is coming in, you can better estimate how much and what you need to save on.
Do you have savings? You are then crazy if you do not pay off your credit. Even if saving does not pay much, the interest on overdrafts is many times higher than that saved!
Allow your Card to be transferCard to a personal loan or a small revolving credit. You can also often take other debts and bundle them into a new loan. Think of a credit card debt or a mail order credit