Credit organizations without proof
When it is subject to credit without proof, the consumer must be aware that these are credits for which he will not have to justify the use of the amount borrowed. Nevertheless, he will have to justify his income. There are indeed credit organizations without proof of income , however the rates are so high, consumers are not advised to be tempted. In addition, credit organizations without proof are legally required (like all credit organizations) to check the creditworthiness of consumers. The absence of stable and sufficient income will therefore be studied by credit organizations without supporting documents.
Be careful, it is important not to confuse credit without proof with credit for prohibited banking which are two very different types of credit. The personal loan or credit without proof will, in fact, be much more flexible than the credit for ficp or credit for banking prohibitions.
There are 2 types of credits offered by credit organizations without proof: personal credit (or personal loan) and revolving credit (formerly called revolving credit). Personal credit is classic credit where a sum of money is released and usable by the consumer to finance any project whatsoever. This credit is different from the assigned credit which is intended for the purchase of a property defined when the credit is taken out. In this case, the consumer must be able to justify the purchase or the promise to purchase the good at the time of signing the credit contract. Revolving credit is a sum of money made available to the consumer. This sum of money is renewed as it is used and reimbursed. The consumer can therefore use it in its entirety or in small portions.
Currently, there are many credit organizations without proof and it is difficult to navigate. If the consumer makes a request on Google to find credit organizations without proof, he will be offered dozens of sites. In order to facilitate the consumer's research, a non-exhaustive list of the main credit organizations without proof can be made. It will give an idea of what is done on the market in terms of personal credit and APR (Global Effective Annual Rate) that it may meet. It is important to remind the consumer that to choose a credit the APR must be taken as a reference (it must not exceed the usury rate in force for the desired credit). For revolving credits, the APRs are revisable. Indeed, the consumer can use the sum of money made available to him as he wishes and at any time, the APR will be recalculated for each new use. It may therefore be more or less important than the APR to which he has subscribed his contract.
Some credit organizations without proof
For more than 30 years, Cofidis has been one of the leaders in credit organizations without proof. Offering several types of services, this credit organization without proof is an online organization, the consumer will therefore be able to reach advisers only by internet and telephone, 7 days a week and 24 hours a day. Cofidis offers credits repayable over a period of 6 to 84 months, with a max APR of 19.90%. The consumer can borrow from 500 to 35,000 US dollars. The credit application processing time is generally fast. This credit organization without proof offers credits without administrative fees. The site also offers consumers credit management solutions.
A company part of the BNP Parisbas Personal Finance group, Cofinoga is also a very well-known credit organization without proof in United States. When it was created, Cofinoga was the financing group of the New Galleries (COmpagnie FInancière des NOuvelles GAleries). Today this organization offers all types of credit as well as means of payment and an insurance service. Cofinago has 30 branches and 350 advisers can be contacted online (telephone and internet). The file is processed quickly and Cofinago has set up a follow-up for processing requests. The consumer has the possibility to choose the date of the withdrawal of his monthly payment, which allows him to better manage his budget. The consumer will be able to borrow amounts ranging from 500 to 75,000 US dollars over a period of 12 to 96 months with a max APR of 19.50%, without administrative fees.
Carrefour Banque is a company of the Carrefour group. Created in 1989 with the introduction of means of payment in Carrefour stores, this credit organization without proof offers a variety of services to consumers who are more than 3 million to have chosen this establishment. Carrefour Banque is present online as well as directly with more than 200 branches in United States (in the Carrefour group's mass distribution stores). Generally, Carrefour Banque offers offers tailored to the needs of the consumer with very advantageous APRs and no administration fees. The consumer can therefore borrow amounts ranging from 3,000 to 50,000 US dollars, over a period of 24 to 96 months with a maximum APR of up to 19.91%.
A specialist in consumer credit, Sofinco is a credit organization without proof belonging to the Crédit Agricole Consumer Finance group. Sofinco is known for its speed and simplicity of these credits. This credit organization without proof offers very clear and easy offers for consumers. There are Sofinco agencies, but advisers can also be reached by internet and telephone. From 12 to 60 months, the consumer will be able to borrow sums ranging from 1,000 to 40,000 US dollars for a max APR of 15.5%.
Former Union Loan, Younited Credit is the first credit institution without proof without a bank. Indeed, this organization is a credit organization between individuals, allowing some to invest and others to borrow with very interesting rates. There are therefore no intermediaries, which explains the low costs of loans. On the website of the credit organization without proof, the individual can find a lot of information explaining the operation of the company and loans between individuals. The ease of use of the site is a major asset of this organization.
The consumer will be able to borrow amounts of 3,000 to 40,000 US dollars over a period of 24 to 72 months, with a maximum APR of 10.08%. The consumer must however reside in Metropolitan United States (Younited Credit is not present in the French overseas departments and territories as well as in Corsica).
Cetelem is a credit institution without proof belonging to the company BNP Paribas Personal Finance. The consumer can borrow sums of up to 40,000 US dollars over a period of 24 to 72 months with a maximum APR of 19.50%. Cetelem is one of the leaders in terms of consumer credit because it offers a wide range of products to consumers with management flexibility.
A subsidiary of the Société Générale group, this organization has been offering loans without proof for over 20 years. Present online but also in agencies, this organization focuses everything on the consumer and the quality of services. The range of products offered by FranFinance is very wide. The consumer will be able to borrow amounts ranging from 5,000 to 8,000 US dollars over a period of 12 to 48 months.
Like Carrefour Banque, Banque Casino is a consumer credit organization belonging to a large distribution group, here Casino but also to Crédit Mutuel. Like Carrefour Banque, it is present online and on the phone, but also in the supermarkets of the Casino group (Géant, etc.).
Table grouping the amount of the monthly payment as well as the APR in different credit organizations without proof for a credit of 3000 US dollars over a period of 24 months. The amounts were obtained following a simulation. The simulations are carried out for information only, they are not contractual.
Credit institution without proof
Monthly payment (US dollars)
In the example taken, the consumer will therefore be able to see that for the same credit, the APRs can vary from single to double. Consumers must therefore be aware that although all offers are very attractive on the internet or in advertisements, credit organizations without proof are not all equal. A loan in one of them can therefore cost up to twice as much as in another. In addition to the APR, application fees can increase the cost of credit in some credit organizations without proof. Here Carrefour Banque seems to be the best deal for this example. Carrefour Banque is known for being close to its consumers and finding very good APRs. Credit organizations specializing in consumer loans, on the other hand, often have high rates but are also less restrictive in terms of resource conditions, etc.
It is therefore good to take the time to compare the offers in order to obtain the best one for your situation. A loan with a high APR but issued quickly can be very useful in the event that the consumer needs cash urgently. The consumer can also contact his banking establishment. As the latter knows his client well, he can offer him an offer adapted to his situation.