Avantcard personal Loan

Discussion in 'Banking, credit cards, etc' started by Fire away, 14 Mar 2019 at 9:33 PM.

  1. Fire away

    Fire away Registered User

    Posts:
    43
    I recently applied for 20k personal loan with KBC but they turned me down. My credit rating would be gold star and no other debt except mortgage but my loan to income is very low. I would be considered very safe investment for the bank. The reason they gave was I switched my mortgage is last 6 months (done it 3 times in last year to avail of 6% cash back). Loan was very house extension. Checking bonkers and avantcard was the cheapest personal loan rate 6.1% so I applied for loan and was all approved after I emailed them a few standard documents. Not that familiar with these guys compared to traditional banks. Anything I should look out for or hidden charges. I will have no problem meeting the repayments and my job is very safe and if needs be I can cash in on some shares I have. Pros and cons of avantcard?
     
  2. galwaypat

    galwaypat Frequent Poster

    Posts:
    193
    Keep loan paid and you have no bother with them.
     
  3. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    36,770
    So you are taking out a loan at 6.1% to buy shares?

    What return do you expect to get from your shares? 10% before tax?

    That is madness. You should sell the shares if you need cash.

    I suggest that you do a Money Makeover.

    Brendan
     
  4. Fire away

    Fire away Registered User

    Posts:
    43
    My cost of credit is just over a grand so don't want the hassle of selling shares