Good credit: cheap offers also with immediate transfer

Are you looking for a loan quickly and without complications? Are the many offers on the Internet for an emergency loan just right? Everything seems very simple: fill out the application, conclude the contract and immediate transfer follows. The money is in the account within a few hours.

Do not be misled by such or similar advertising. It is not as simple as it is sometimes portrayed. When direct banks offer urgent loans, they do not necessarily involve particularly fast loan processing.

Above all: do not act hastily. Compare different offers and, if necessary, get advice from experts. Credit comparisons work with partner banks where you can take out quick installment loans. To do this, however, you have to meet certain requirements.

Now read the most important details about so-called urgent loans and some particularly cheap offers of fast installment loans.

What is a Good Credit?

What is a Good Credit?

An emergency loan is not a special type of loan. It is nothing more than an advertising slogan for normal installment loans offered by direct banks on the Internet.

Unfortunately, advertising loaves are more connected to the expectations of potential customers than to describe a factual situation. Advertising with the Good Credit is one such case.

Good Credit is more of a moderate advertising term from the early days of internet loans. Today you are sometimes much more aggressive: lightning credit, instant credit, instant transfer, instant payment, 1-hour credit, these are common advertising terms today.

Target groups for urgent loans

The target groups are customers with an urgent credit requirement. The desire for quick liquidity can be based on various reasons.

Perhaps there is simply not enough money to finance a larger, currently particularly inexpensive purchase at a special price. Maybe you only need a small loan for a spontaneously planned vacation. Or the reason is a real liquidity bottleneck often associated with creditworthiness problems.

This target group, in particular, feels particularly attracted by advertising with Good Credit. And it is precisely this target group that cannot expect a quick credit decision and a quick payment of the loan.

Instant credit, instant payment, and instant transfer

Instant credit, instant payment, and instant transfer

Over time, instead of the term Good Credit, the product description instant credit has become common.

Even today, in many cases, these are completely normal installment loans, which can be applied for online and are ultimately legally concluded using a PostIdent procedure after the contract documents have been sent.

The cumbersome shipping by post will usually take a few working days. So what is “immediately” with such online loans?

First of all, the preliminary immediate decision. Customers submit their application form online and, often very quickly, receive a decision as to whether they can pursue their loan requests at all.

With the instant decision, customers definitely know that there is a credit opportunity, but not that they are getting the loan they want. The bank also promises immediate payment or immediate transfer of the loan amount.

However, this does not mean that the payment to an account is made immediately after submitting the credit request.

Rather, the payment of the loan amount takes place in connection with the final examination and the signing of the contract by the bank after the bank has received the documents from its customers by post.

Sometimes it is even only promised that the “immediate payment” will be made within 24 hours after the final examination. In this respect, one can speak of a 24-hour credit.

It is obvious that this type of instant loan, which is the original form, often takes longer than a normal installment loan with the house bank. With luck, the money will be in the credit customer’s account after seven working days.

Process shortening due to modern technology


Of course, the direct banks also knew that urgent loans, instant loans or even lightning credits were nothing more than a little advertising lie. Direct banks therefore gradually went over to using modern techniques to shorten procedures.

Lending procedures can be significantly shortened if the postal route is eliminated. The solution is the optional offer of Videoident and Document Upload.

The identity check required by law is carried out in the course of a video conference. In the end, the customer usually receives an identity code, which he can use to upload the necessary documents.

This method can be chosen by customers who have a computer with a camera. A smartphone is very suitable. A stable internet connection is important. If you fold the video ID and upload documents, you save 2 to 3 working days. The payout period is reduced accordingly.

Digital loan completion

Digital, fully paperless loan completion using a computer is the final step towards Good Credit. We described in a separate article exactly how the account view and digital signature work.

Ultimately, the application process, credit check, and credit agreement are all done in one go on the computer.

After the contract documents have been digitally signed, the bank initiates the immediate loan payment. In this way, the loan amount can be deposited into the customer’s account within 24 hours or 48 hours.

The credit check is carried out by an automated Credit Checker request and the evaluation of bank statements from the current account. Sometimes Credit Checker information is replaced by information from another credit agency.

The digital evaluation of the account statements requires that the customer transmits his access data for the account to the bank using a secure procedure.

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