During the communist era, the choice of holiday trips was limited to two directions – sea or mountains. The fall of communism and Poland’s accession to the European Union allowed us to travel abroad. Foreign holidays are already standard. A standard that is often financed by credit.
Choose the best loan for your vacation.
Of course, credit can be avoided if you plan your trip abroad well in advance. Then we can save the necessary amount. The decision about a foreign trip is sometimes made on the spur of the moment. Certainly many Poles decide to take advantage of attractive last minute offers. Then money is needed now. It is not worth hurrying, however. The decision to take a cash loan for holiday travels is good to think through, and it’s definitely worth analyzing all available offers. As much as PLN 500 divides the best and the worst offer on the market. So what should you pay attention to?
Holidays on a cash loan
The most important thing about a cash loan is the APRC factor referring to the Actual Annual Interest Rate. The APRC informs us about the total cost of the loan, including commissions, margins, interest and all other fees. In bank advertisements, we can usually read only about the interest rate. The Bank does not inform its clients about other additional costs in TV commercials or leaflets. It is also good to evaluate your options coldly. Under no circumstances may you take out a cash loan that is higher than our income would allow. We need to realistically assess whether our remuneration will allow us to settle the liability on a monthly basis.
Holidays on the limit?
An alternative to a cash loan may be to use the existing credit card limit. However, there is a snag. The repayment of money taken on a holiday trip with a cash loan can be spread over time. In the case of a credit card, the exhausted limit must be paid back during the interest-free period. It is usually 61 days. If we make money without interest, the additional cash will not have a price. However, it may happen that we will not be able to return the money before this period expires. Then the percentage is calculated and it is not small. The highest interest rate of up to 24% is most often charged. So if we are sure that the next withdrawal will cover the exhausted limit on your credit card, it is worth choosing this solution. In all other cases, we must pay a high percentage.