Excel Credit

Excel Credit Professional financial advisory.

FAQsIs a Guarantor needed?We do not need a guarantor in most cases.Can i still apply if i have existing loans with other...
03/11/2022

FAQs
Is a Guarantor needed?
We do not need a guarantor in most cases.

Can i still apply if i have existing loans with other company?
Our experienced loan consultants will take pleasure in providing you with a structured loan plan based on your financial capacity. It is important that you provide an accurate account of your financial status so that we can assist you in the best possible way.

FAQsWhat types of Loans we provide?We provide personal loan, business loan, foreigner loan, education loan, wedding loan...
03/11/2022

FAQs
What types of Loans we provide?
We provide personal loan, business loan, foreigner loan, education loan, wedding loan, grabtaxi driver loan, housing loan, plastic surgery loan, weight loss loan, vacation loan even renovation loan.

What are the repayments mode?
You can choose to repay your loan installments through ATM Transfers, ATM Deposits, Bank Deposits, or Internet Transfer to any of our local bank accounts.

Legal and reliable firm, (License No. 8/2022) would help you to get your loan for business or personal use.✅ WP, SPA...
03/11/2022

Legal and reliable firm, (License No. 8/2022) would help you to get your loan for business or personal use.
✅ WP, SPASS, PR can apply
✅
✅ , ,
✅ Loan amount up to 10k-100k
✅ Plan and execute

Consider loans with lower ratesIn the event you find yourself struggling to make full and timely payments for outstandin...
03/11/2022

Consider loans with lower rates

In the event you find yourself struggling to make full and timely payments for outstanding credit card debts, one consideration to make is taking up a personal loan with a financial institution like Golden Credit.

These loans usually allow you to borrow up to 10 times your monthly salary at interest rates of as low as 3.88% per annum. This is substantially lower than interest rates charged for credit cards. For this to work, you should aim to clear all outstanding credit card payments at once and pay off monthly repayments for the personal loan in full and in a timely manner.

Full payment of credit card billsBearing in mind that most credit cards charge an interest rate of 24-26% per annum, so ...
03/11/2022

Full payment of credit card bills

Bearing in mind that most credit cards charge an interest rate of 24-26% per annum, so you should aim to pay your monthly credit card bills both in full and on time. This way, you can avoid interest and late fees while taking advantage of the perks such as rewards or cashback.

If you decide to pay only the minimum payment amount each month, it may take you many years to complete your payment. It is not worth the time and effort. Worse still, the outstanding balance may spiral out of your control.

With credit cards, interest is calculated on a daily basis, which means the amount you owe is compounding with interest daily. Simply put, the longer you defer or roll over your outstanding debt, the more interest you will accumulate.
If you consistently pay your credit card bills in full and on time, there are instances where you might be able to get annual fees for your credit cards waived too. It is like a reward for making timely payment!

Tips to avoid the credit trapApply for the right type of loanApplying for the right type of loan is another way to limit...
03/11/2022

Tips to avoid the credit trap

Apply for the right type of loan
Applying for the right type of loan is another way to limit the amount of interest payments you make. For example, if you are thinking of pursuing further studies, avoid making payments for tuition fees using your credit card. Instead, apply for a study loan with financial institutions like DBS, which often come with lower interest rate than credit cards.

The same can be said of your home renovation needs. Taking up a renovation loan for the construction of new cabinets, electrical works and a new paint job, among others, is a cheaper option than using your credit card to make some of these payments.
Another option is for you to weigh your credit card benefits and rewards, and use your credit cards for specific purposes. If you like to travel, focus on credit cards with rewards that can be used for earning frequent flyer miles. If your focus is on household expenses, you can look at cashback credit cards focused on groceries, petrol and food delivery rebates.

Tips to avoid the credit trapMake sure you can service the loanBefore applying for any loan – be it for a big-ticket ite...
03/11/2022

Tips to avoid the credit trap

Make sure you can service the loan
Before applying for any loan – be it for a big-ticket item or credit line - it is crucial that you review your cashflows as well as your short- and long-term financial planning objectives first.
Work out your total annual debt payments as a proportion of your total annual take home pay. As a guide, it is prudent not to commit in excess of 35-45% of your pay towards servicing debts.
Also note that the percentage of income used to service non-mortgage related debts should be less than 20% of net income. A ratio of 15% or lower is healthy

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