Barclaycard credit experience
Although the Barclaycard company is best known for its eponymous credit card, the company also offers several loan options. These include an express loan as well as a classic installment loan, but also more specialized versions, such as a Barclaycard car loan. An installment loan from Barclaycard is available for as little as 1.89 percent APR, offering a loan between 1.000 and 35.000 euros possible.
- Loan amounts from 1.000 up to 35.000 Euro net
- terms are between 12 and 84 months
- Unscheduled repayments possible free of charge
Interest rate of Barclaycard: From 1.89 percent upwards
Depending on which Barclaycard loan you choose, the effective annual interest rates are different. The interest rate also depends on your creditworthiness and general facts, such as debit interest, term, loan amount and other costs. The bank's three main loans are divided into a classic installment loan, a particularly fast express loan and an installment loan for the self-employed.
|Barclaycard installment loan||Barclaycard express credit||Barclaycard installment loan for self-employed persons|
|Effective annual interest rate||1,89 to 4,99 %||fixed 3,79 %||1.89 to 8.99|
|Fixed debit interest rate||from 1.87||from 3,73 %||from 1,87 %|
|Net loan amount||1.000 to 35.000 €||1.000 up to 35.000 €||1.000 to 35.000 €|
|Term||12 to 84 months||12 to 84 months||12 to 84 months|
|Request||Simple application||Shortened application||Simple application|
|Video-Ident for legitimation||Yes||Yes||Yes|
|Unscheduled repayments||free of charge||free of charge||free of charge|
|Consolidate loans free of charge||Yes||No||No|
|Payout partly on the same day||No||Yes||No|
Very special: Self-employed people generally do not have an easy time with a loan. With Barclaycard, however, even just a recent income tax assessment is required – that makes it easier for founders, too, though the interest rate might be higher for it.
Barclaycard has other types of credit in the offer. These include:
- Car loan: Perfect alternative to dealer financing, so customers do not have to make a large down payment or final installment. Again, the APR starts at a low 1.89 percent and the net loan amount is 1.000 to 35.000 euros. The fact that the vehicle always remains in the possession of the borrower is also particularly advantageous, as the vehicle registration certificate is not transferred to the bank.
- Fix credit: This type of credit is only offered to existing Barclaycard customers. This is a loan with individual terms and conditions that is pre-approved by Barclaycard. To apply for this loan, all you need to do is enter a promotional code, which was communicated in a cover letter from Barclaycard.
For existing customers, it is also possible to increase existing loans in an uncomplicated manner and without proof of income. This application is also possible by phone or conveniently online, but requires an unchanged good credit rating.
The following representative credit example was made available after § 6a PAngV by the Barclaycard and illustrates a possible offer for a classical installment credit.
|Net loan amount||10.000 euros|
|Contract period||60 months|
|Committed debit rate||4.07 percent|
|Effective annual interest rate||4.15 percent|
|Amount of monthly installment||184,50 Euro|
|Total amount of the credit||11.069.69 euros|
Save money with Barclaycard loans
The key data
- Effective annual interest rate from 1.89 percent to 4.99 percent for installment loans
- Loan amounts from 1.000 up to 35.000 euros net
- Terms are between 12 and 84 months
- Uses vary according to the type of loan, but are very flexible
- Extremely fast immediate decision
- Special repayments possible free of charge
- Express loan with possible same day disbursement
Depending on your specific credit decision, there are many ways to save money with a loan from Barclaycard. Because the interest rate on the traditional installment loan starts as low as 1.87 percent, it's possible to restructure other loans or charges at a low cost. For this, Barclaycard also offers the possibility of pooling loans free of charge. Only the appropriate box must be checked in the application so that existing installment loans at other banks are merged with the Barclaycard loan.
Small tip: Barclaycard offers a security package for its own loans, which can be selected in addition to the loan. Of course, the package is optional, but it can be used to better cover unforeseen risks. With an installment loan, customers can, for example, secure payment defaults that occur through no fault of their own in the event of incapacity to work, unemployment and death. In the event of unemployment, Barclaycard also provides active support for a return to working life.
Barclaycard also has the right loan if you need it quickly, although the interest rate here is 3.79 percent. Nevertheless, it is a very favorable loan in comparison, which is sometimes even paid out on the same day. For example, if you have a 10.000-Euro-Kredit needed – and as quickly as possible – can set the term to 60 months and receives at 3.79% APR and 3.73% bound debit interest a monthly rate of 183 euros.
Requirements for a Barclaycard loan
In order to not only submit a Barclaycard loan, but also to have it approved, a total of four requirements must be met.
- Age: The borrower must have reached the age of 18. have reached the age of 60.
- Income: The monthly installments are set in relation to income and must fit the financial situation. However, Barclaycard offers alternatives if the rate is too high for one's situation. For employees, it is also necessary for them to have been employed by their current employer for at least one month in order to qualify for a loan. With other credit institutions, this requirement is usually six months.
- Residence: The permanent residence or. the borrower's primary residence must be in Germany for a successful loan. The applicant must also have a German bank account and also prove.
- Creditworthiness: The issue of creditworthiness plays a major role in a loan, so also with the Barclaycard. Creditworthiness is checked with the help of the external scoring of Schufa. In general, Barclaycard checks by means of two different scorings – an internal scoring to match information and experience. In addition, an external scoring, for example, to request data from Schufa.
Barclaycard – calculate credit online
The calculation of the Barclaycard loan is quick and easy online. The company would like to know if you are already a Barclaycard customer and in which employment group you work – so Barclaycard can make an ideally matched offer. Then select
- Loan type
- Loan amount
and optionally opt for a security package of your choice. Depending on the own data a personal offer is provided, which is however still noncommittal up to the final signature on your part.
Credit decision possible in a few minutes
The credit decision works extremely fast with Barclaycard, if you decide to apply online. With a postal application it takes a few days, online, on the other hand, you get the decision immediately.
Prerequisite for this, however, is that the signed loan application and all necessary documents are available. This includes for example
- Proof of income
- Evidence of other income (for example, child support, payments from the state, etc.).)
- Documentation of rental costs
Although the Barclaycard also immediately carries out an information with credit agencies (for example, with the Schufa) when an online application, but in the credit assessment is not influenced by the Schufa. For this reason, the above documents are important and must be complete so that an immediate decision can be made.
Our Barclaycard experiences show that with available documents and positive evaluation after a few minutes a decision is available and the money is not rarely after a few days on the account – even without express credit.
Conclusion on the Barclaycard loan
The Barclaycard holds numerous loans for different claims, situations and also occupational groups ready. Especially the loan for self-employed is very lucrative, because the interest rate is fixed and moderate and already an income tax certificate is sufficient. The classic installment loan also attracts with favorable interest rates and especially a great flexibility, which many customers appreciate. Not without reason, as our own Barclaycard experiences also show.