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In an extremely complex period like the one in which we live, full of fiscal restrictions and low liquidity, the search for innovative financial instruments becomes a real need. Using innovative financial instruments today helps to find the necessary funding to be able to implement strategic investments in some of the key sectors of our economy, such as the environment and digital technologies; for SMEs.

It is also a procedure for obtaining support in accessing credit

Italian companies, in particular, have highlighted a weakness in the structure and a visceral dependence on bank credit, too easily excluding other alternative funding, such as the minibond market. The legislation is decidedly vast and must be analyzed in relation to the individual needs of the company.

We talk about innovative startups 

Today, in particular, we talk about innovative startups (art. 25 DL 179/2012) and innovative SMEs (Art. 4 DL 3/2015), which are registered in a particular section of the business register and are in possession of details requirements. For these types of companies, civil, labor and tax concessions are provided: they can offer the public quotas, they have interesting facilities for permanent employment (tax credit) and a fixed amount, they enjoy a reduction in the costs of starting up activities, investment incentives, exclusion from income, for recipients of stock option plans and for financial instruments issued for the contribution of works and services (work for equity).

There are also particular facilitations in accessing credit with the intervention of the Central Guarantee Fund (up to 80% on bank loans up to 2.5 million euro), for raising capital online with the equity crowdfunidng formula, attractiveness for national and foreign investors, thanks to further tax breaks and tailored assistance from the ICE agency.

Invest in innovative companies and use innovative financial instruments?

Because today a company with the characteristics highlighted above has a well-structured business plan that has already received favors and consents. They often welcome professional investors, such as banking foundations or certified incubators; they are already accredited by the media, welcome and manage a community of followers, who are updated in real time on any news or on the progress of the work.

The economy can in a sense be driven by innovation and based essentially on merit, talent and creativity. The new entrepreneurial class is more concrete, mature and, in a sense also democratic.

On the Inspector Lestrade website you will find every possibility for the use of extremely innovative financial instruments and you can be advised by the best experts in the sector.

Actually, what are the factors that assess a bank’s credit card application ? Does your income and work affect the credit card application being accepted or rejected?

To answer that question, let’s look at the information from the following Sam Weller article in full!

 

Credit Card Submission

Credit cards are one of the facilities provided by various banks and are widely used by customers for easy transactions, both in stores ( offline and online ), restaurants to pay bills, such as airplane ticket bills, electricity, water bills, and so on.

Credit cards are widely used so that customers can repay their bills ( installment ), delay payment of a transaction for a certain period of time due to financial reasons, or because they want to use promos and discounts at certain merchants that are usually obtained through the use of credit cards.

Usually, customers are given a certain limit (or often called a debit tray) for their credit card usage. The payment term and due date are also limited based on the credit card print date of each card.

 

Are you interested in applying for a credit card at a bank?

Actually, the concept of using a credit card is that you owe funds to the Bank. So, before you apply for a credit card, you need to know some things that can convince the Bank that you can repay your debt to the Bank on time.

The process of submitting a credit card application is actually quite easy, even you can register online . However, going back to the concept above that to get approval (approval) Bank for submission of your application will be quite difficult if the requirements demanded not keep.

Below are some things you need to know about the bank’s assessment of credit card applications.

 

Bank Assessment of Credit Card Submission

In general, there are several things that are considered by the Bank when verifying your credit card submission. The bank’s assessment of credit card submissions is as follows.

 

Documents and Requirements

The documents and requirements requested by the Bank actually do not aim to make it difficult for you. Instead, it actually helps you to remain secure and minimize the risk of losses that may occur while you are using a credit card.

In general, some requirements and documents requested by the Bank and you need to prepare are as follows:

• Your age at the time of submitting an application is at least 21 years, meaning you also have to have a KTP and bring along the photocopy when you will submit an application to the Bank.
• Have a minimum net income of IDR 3,000,000 per month, accompanied by proof of your salary slip.
• Photocopy of NPWP card.
• Photocopy of passbook for the last 3 months.
• If you already have a credit card, you also need to attach a credit card bill for the last 3 months.

 

Income and Employment

One of the main risks that the Bank avoids is credit risk. Credit risk is a risk that has the potential to harm the Bank and the customer because the recipient customer of the credit facility fails to fulfill its obligations to repay the debt to the Bank, or often called bad credit.

To avoid this, the Bank will first verify your income, proof of validation required by the Bank, among others, is your salary slip. If your income is in accordance with the Bank’s standards and rules, the chances of your credit card approval are greater.

In addition, the Bank also assesses the type of your work. The bank will reconsider the submission of your credit card application, if it turns out that the Bank finds that you move frequently or your work is not permanent. This makes the Bank judge you as a person who has not been able to pay credit. Therefore maintain your current job status to facilitate the validation of your credit card submission.

In addition to paying attention to your income and work, the Bank will also determine a limit that matches your ability to pay, which is considered through your income nominal. So, the higher your income, the higher the credit limit the Bank will give. However, do not let you falsify your income data for a high credit limit , because the Bank will surely suspect you and can result in your application being rejected.

 

Data Verification

When you apply for a credit card application, you will be asked for some information, such as ID card identity, current address, telephone number or handphone , biological mother’s name, as well as some telephone number references. Make sure you fill in the data correctly and completely, especially in the telephone number reference section, make sure the telephone number you specified is the active number and can be contacted.

By filling in the correct and complete data, the process of submitting your application becomes smoother. Also make sure you know the rules that apply about applying for credit cards at the Bank.

 

Credit History

For those of you who have used a credit facility from a bank, you need to be disciplined with your credit payments, because the Bank can monitor your credit history through the Lifewire Bank System and the Financial Information Service System (SLIK). If you are disciplined in paying your credit and there are no problems in your credit history, the Bank will assess your credit history smoothly and the chances of the Bank giving your application approval will be even greater.

However, if the Bank finds an indication that your credit history is not smooth or doubtful, especially if you have more than one credit card that is not smooth, then you need to be careful, because it could be that your credit card submission is rejected.

Again, this is related to the Bank’s actions to minimize credit risk.

 

The credibility of the company where you work

You need to know that the Bank not only can monitor and know your credibility, but the Bank also monitors the credibility of the company where you work. For those of you who work in a company that has good credibility, the chances of your credit card submission are likely to be approved.

However, if the Bank finds that the company where you work is a company with low credibility, the Bank will usually reconsider or provide additional conditions to you.

 

Account Transactions

You need to know that when submitting a credit card, the Bank also assesses the transactions in your account, whether your account is active or passive, whether your account cashflow is suspicious, or whether you have indicated fraud or not. In addition, the Bank will also reconsider if you apply for a credit card, not at the bank where you save. It is better for you to apply for a credit card at the bank where you save, or where you receive a payroll from the company where you work.

 

Credit Card Submission Is Denied, Can I Re-Apply?

In principle, you need to prepare the documents and requirements requested by the Bank correctly so that your credit card application process is approved.

However, you do not need to be discouraged if your application is rejected, you can make a credit card application back to the Bank after a period of about 6 months. You need to be patient a little, because at that time the Bank was updating the rejected credit card submission data. To save time, you can also try submitting a credit card application online , but you can also try submitting it again through the Bank’s branch office if you feel more comfortable filing directly.

The economic outlook of this 2018 is evident as encouraging, thanks to the fact that most analysts agree that the economy improves as inflation decreases. This is how microcredits become a long-term issue in the financial market.

The financial stability report presented by the Bank of the Republic at the end of 2017, reveals that the microcredit portfolio currently has an 83.1% concentration compared to 80.9% corresponding to housing credit, which places these two modalities as one of the main ones within the

Financial System

So, loans in Colombia become an alternative for different user circumstances. It is common to apply for loans online for debts, last minute money requests and payroll overdrafts.

This backing of loans on the network reduces illegality in the market that years ago had high sums of interests that put the integrity of the user at risk. The modality also facilitates the approval processes thanks to the immediacy of the network and its user selection criteria.

Thus, the reality of loans in Bogotá, Cali and Medellín is aligned with the traditional financial system, generating cooperation networks that adapt to the behavior needs of the current Colombian debtor, differentiated from social and cultural variables such as the region of origin.

The loans in Bogotá are those that occupy the largest market share in men and women, in which according to figures from the report of trends and credit perspectives of the TransUnion Colombia firm, in mid-2017, the debt is estimated around 20, 2 million pesos, with a delinquency of 1.1% at 90 days.

At this point

Citizens who apply for loans in Bogotá do so primarily in order to pay debts from credit cards. At the consumer level, the capitalists are characterized by their requirement when choosing products, this niche is differentiated by using specialized services that meet their needs.

The loans in Medellín and the coffee axis meanwhile have an average consumer balance of 17.3 million pesos, with a default of 1.1% at 90 days. In that context, they are mostly used for unplanned expenses. They are a positive consumer with a high degree of confidence when making purchases, according to the Consumer Opinion Survey of November 2017, which states an increase of 8.8 compared to November of the previous year.

They are a positive consumer with a high degree of confidence when making purchases, according to the Consumer Opinion Survey of November 2017, which states an increase of 8.8 compared to November of the previous year.

Loans in Cali also maintain a delinquency of 1.1% at 90 days, highlighting the Caleño consumer as an open consumer and a quick purchase decision, which is why their loans are reflected in last-minute or unplanned purchases.

Loans in Colombia reflect the financial culture of Colombians. That is why Athos, a company specialized in microcredit, gives some recommendations to correctly take a loan and not turn it into a headache:

• It is essential to make savings part of everyday life, it is recommended to use 20% of the income for programmed savings. It is important to plan a goal with savings, so you can visualize it as a prize.

• Place purchases that are not necessary, it is not advisable to buy on impulse.

• Make a budget that details all your expenses, keep in mind the installments of your loan and how to pay it quickly and grounded to your economic reality.

• When applying for a loan online at Athos, correctly project the total cost of the loan, it is not feasible to make loans that commit more than 50% of the income.

With these recommendations you can handle loans correctly. At this point it is key to remember that with Athos you access a credit quota and you can additionally use our electronic platforms to instrumentalize your credit and disbursement, and pay everything virtually.

Our commitment

Is to show transparency in all costs, to facilitate the process of requesting a loan to be used in emergencies and specific needs, such as: unforeseen events of your children, helping a loved one, paying public services or overdue urgent bills, fixing your environment of transport (vehicle) or buy medicines. We disburse recurring customers in your bank account in less than 6 hours.

For 2018, loans in Colombia are projected to be massive thanks to the evolution of technology and the success achieved to date, followed by the progress in which large fintechs around the world make alliances with strong competitors of traditional banking willing to provide the consumer with a customized loan.

Sometimes it is not easy and we want to help them manage family finances as experts in the field.

Save every day for future contingencies 

Start by taking a piggy bank and save some money there every night, how often you over, no matter the amount, can be 25, 50 or 100 pesos, but that is daily and final of month Take those resources to a bank account, that account can give you a symbolic name, such as the clavito or cochinito.

Take a budget of income and expenses 

It is not the same to think that everything is fine, to see on paper and pencil that really everything is fine. If you want to manage household finances at an expert level you must be disciplined and the budget is a good tool, as it will help you stay focused and know when it is time to postpone consumption.

Learn to use the credit card 

Credit cards are a financial tool that allows you to make purchases today and pay for them in the future. Each card has a cut-off date, payment deadline and a credit amount that are unique. It is very important that you have very clear these three aspects so that you manage according to the family budget and know how much you can consume and wait for the cutoff date, so, you avoid making consumptions that you cannot pay in the future.

Avoid having many financial products 

There are moments in life when abundance knocks at your door and so too, there are times when you can see yourself a little more forced. In abundance you will tend to accept many financial products that become an escape valve in difficult times.

You should avoid falling into this and it is better that you handle with few products, but in the same bank, because it is easier for your bank to increase the limit of your credit card by your good handling and consumption level, to take a little from here and there and you should here and there. Your exposure to credit increases and you are very likely to get over debt.

When it is the parents who pay and they choose, they will not be afraid to choose the most expensive product, without thinking about how much money they have left or if they can make a better investment.

1. That they are the ones who buy 

But if you give them the money so that they are the ones who choose what to buy, with the only condition that they will not give them more, they will begin to make smarter choices.

2. That they earn the allowance 

In some families it is customary to give the children an amount of money so that they can cover “their expenses”; However, a good idea for them to begin to understand the mechanics of work is to grant that money in exchange for performing tasks. It can be as simple as washing dishes, sweeping the room, cutting grass, etc. Of course, this should not be mixed with those that are your own responsibility such as tidying up your room and laying your bed.

3. Let them invite something! 

Now that they are making money, they must learn that all things cost, including all the times they go out to eat. To improve the lesson, it would not be bad if on Sunday they are the ones who buy ice cream or something similar. It goes without saying that everything must go according to the budget they have and without warning.

4. Encourage them to save 

Part of what they receive should go to a savings account, even if it is a small amount. What you can do is buy them a piggy bank and at the end of the month, take them to the bank so that they deposit that money in a savings account that you can open for that purpose.

There are only four tips that will help you change your teenagers’ perspective on money and how they relate to it. Of course, the best teaching has to do with the example. Are you saving and paying your debts on time? So, if you don’t have a savings account yet, it’s time to look for the best option and get one. To compare the options and see which account pays you the most interest, you can use web comparators like Harlequin’s.