Consumer credit without proof: how to get it at the best rate?

It is entirely possible to obtain a new consumer credit without proof of use of money, but never without proof of income. We will see that there is however a credit without any proof, in the case of using an existing revolving credit. The point on the good reflexes to have to find, but especially to obtain a consumer credit without proof at the best rate.

What is a consumer credit without proof?

The consumer credit means all loans of an amount exceeding $ 200 and / or paid more than 90 days excluding real estate projects .

There are several types of credits, some of which can only be obtained if there is justification for the reason for the request. This is for example the case of new auto credit, impossible to obtain without the associated purchase order.

Others, however, do not involve any verification by the lender about the reason for the request, such as personal loan or revolving credit. Whatever the type of credit, it is impossible to obtain it without providing at least the following documents:

  • ID
  • Proof of address
  • Proof of income

Only a request for rapid consumer credit on an existing revolving credit contract makes it possible to obtain consumer credit without any documentary evidence . The money available in the reserve can indeed be reused on simple express request. The lender has already collected all the necessary information when the contract was concluded. He is therefore able to extend credit without delay.

What credit is really without proof of use?

The consumer credit with proof of use of funds is the one requiring the most supporting documents, since the lender requests an invoice or a purchase order. These are mainly car loans and work loans.

There are, however, more free products, such as personal loans, without proof of use. Small credit – or revolving credit – is said to be rather “simple” to obtain. It also corresponds to a consumer credit without proof.

Why should we compare consumer credit rates without supporting documents?

Consumer credit without proof is very popular, it is a real classic personal credit. All credit players (banks, organizations, insurers) have offers to offer. Rates are very variable, however, and it’s easy to end up with overpriced credit. We will see that using a reliable credit comparator makes it possible to find cheap consumer credit without any bad surprises.

The credit comparator, a major ally

Using a credit comparison tool simply identifies the best consumer credit rate. It is still necessary that this comparator in question is only interested in the APR rate to establish its classification.

This is obviously the case with our tool, designed to find and obtain credit under the best conditions. Let us compare several consumer credit offers without proof, in order to realize the different costs between different offers. We have chosen to compare the best credit 10,000 USD over 36 months from organizations from our comparator.

We find that the second organism is much more expensive than the best. However, these are two big names in online consumer credit . The gap widens even more when we look at the following offers.

Understanding the APR rate to better understand your loan request

The APR rate is the benchmark indicator for consumer loans without proof, as with any other loan. Any loan offer must be accompanied by the APR rate, otherwise it does not comply with the law on consumer credit. The APR (annual effective annual rate) clearly indicates the cost of interest, as well as that of any additional costs (mainly administrative costs). It is an absolute reference in the search for cheap credit.

What is consumer credit worth without supporting documents from banks?

Consumer credit without proof of banks is generally more expensive than that of online credit organizations . Our comparison testifies to this, but it is above all a finding based on hundreds of comparisons carried out over several years. Banks especially do not have the means to guarantee a rapid loan to the consumer.

It is indeed almost always a customer to obtain consumer credit without proof such as personal loan from a bank , and rather a good customer. Individuals regularly overdrawn, without savings or whose income is not sufficiently stable over time can make a cross on their chances of obtaining a consumer credit without proof from their bank. However, nothing prevents you from inquiring with your advisor about your borrowing possibilities.

The illusion of consumer credit without proof of income

It is not possible to obtain a new consumer credit without proof of income . We have seen that only a request to use an existing revolving credit can get money without justification. It can actually be a credit purchase financed directly in a store. More and more brands are offering credit solutions, linked to loyalty and payment cards. It is generally a small revolving credit. Whatever the consumer credit, you always have to justify yourself regarding income.

Example of revolving credit opened in store

You just need to provide a few basic documents (RIB, bank card, identity document and proof of income) to buy a computer from Fnac. Sometimes this is free credit (0% APR), opening a revolving credit contract.The borrower leaves with his computer but therefore subscribes to a revolving Sofinco credit.

The available reserve of money provided for in the initial contract makes it possible to request an express transfer request at any time. The reimbursement of the computer is made under the conditions obtained in store, but the money reserve is available. To request a transfer, the borrower only has to connect to his personal Sofinco space, using the identifiers received by email or post. Most major brands offer credit payment solutions. They take advantage of this easy credit solution to boost their sales.

Please note, the revisable APR rate of revolving credit indicates that it is likely to change. However, the rate of a conventional use of the revolving credit reserve, whether it is a payment by credit card or a transfer request, is carried out most of the time at a high price . The rates in force on a consumer credit request without express proof generally hover around 20%, which is close to the maximum authorized by law (see usury rate ).

A credit request without proof step by step

Because it is not necessarily easy to navigate when looking for consumer credit without proof of use, we have summarized the essential steps.

  1. Perform a simulation on our credit comparator, by selecting “loan for all projects”, “personal loan” or “need for money”. The three choices correspond to a request for consumer credit without proof.
  2. Complete the consumer credit questionnaire without proof in a few minutes, before receiving an immediate response in principle.
  3. In the event of a positive credit opinion, the organization offering the best APR rate confirms the request within 24 hours by email.
  4. Once the contract – always without obligation – received and the rate verified, it is always possible to solicit other actors, such as his bank, hoping to obtain better conditions.

Good to know: any consumer credit without proof gives a withdrawal period of 14 days, from the date of final acceptance. Generally, you simply have to return a slip provided for this purpose to cancel your credit within the time limit.