A loan without BIK or with BIK? What pays off more?

You do not need to monitor the offer of non-bank loans on an ongoing basis to know that loans without BIK are currently available. Are they more expensive than when applying for which company employees check your credit history?

Even a small delay in repayment of e.g. a loan is enough for such information to appear on your account at BIK (Credit Information Bureau). Then you can have a big problem with getting another loan. Because the policy of banks is very strict – they check the credit history of each applicant, in practice your application will be rejected. What about this situation?

If you only need additional funds for a while, then the solution may be to use the offer of non-bank companies. In addition to standard payday loans, you will find loans without BIK. However, to make a conscious commitment, you should learn more about them.


A loan without BIK, but … the company will check you in other bases

A loan without BIK, but ... the company will check you in other bases

As a person with overdue liabilities, you can apply for a short-term loan – all you have to do is choose a company offering loans without BIK. In this situation, its employees will not check your credit history in BIK, but this does not mean that they will not check whether you appear as a person in debt in other databases.

As you can see, checking your history only in BIK is not all. If you took out a loan from a non-bank company and did not pay it back, it is very likely that your name will appear on the base of unreliable credit check borrowers. In this situation, your application for a loan without BIK will most likely be rejected.


A loan without BIK is more expensive

A loan without BIK is more expensive

Since you have overdue obligations and you do not want a potential lender to check your credit history in the BIK database, it is natural that a company that signs a loan agreement with you is at greater risk. That is why a loan without BIK is usually more expensive – companies set maximum amounts, e.g. by way of calculated commission.

Due to high competition, non-bank companies are increasingly offering a completely free first loan without BIK. This means that by borrowing e.g. $ 1,000 for a period of 14 days, you will be required to pay back the same amount. If you want to save, then you should know if you can take such a free loan.

How much more expensive is a loan without BIK? As a potentially interested person, you must be aware that the amended Anti-usury Act is already in force. According to it, non-bank companies may not charge fees above certain amounts, and more precisely the cost of the loan may not be higher than 25% of the amount borrowed plus 30% of the loan amount per year.


Do you have a positive credit history? Ask for a traditional payday loan

Do you have a positive credit history? Ask for a traditional payday loan

If you have never had financial problems and have paid your obligations exemplary so far, that is on time, then you should know that a better solution would be to apply for a standard short-term loan. In such cases, non-bank companies check the applicant in the most popular databases, including of course BIK.

The above solution is advantageous because it involves lower costs for you. Because competition between non-banking companies is high, most of them reduce the amount of commission charged for granting the loan. So you can save quite a lot of money if you borrow money for the second or subsequent time in your company.


Loan without BIK – will data on how you perform the contract be forwarded to BIK?

Loan without BIK - will data on how you perform the contract be forwarded to BIK?

There are companies on the market that provide information about the customer taking a non-bank loan to BIK, and then periodically inform if he regularly repays his liability. It can happen that when taking out a loan without BIK, the non-bank company will provide BIK with information about whether you are fulfilling the signed contract, i.e. whether you regularly make subsequent installments. From your point of view, this is good information – in this way you can rebuild a good credit history.


How to apply for a loan without BIK?

How to apply for a loan without BIK?

It does not matter whether you apply for a loan without BIK or a standard payday loan, at which the lender will only check you in the most popular databases recording the indebtedness of individuals and business entities – in each case the procedure is the same. After selecting the offer you are interested in, you should follow the steps described on the website. You will certainly need to register and go through the verification procedure, which consists in transferring a small amount to the bank account indicated by the loan company.