{"id":10609,"date":"2022-11-16T11:27:01","date_gmt":"2022-11-16T11:27:01","guid":{"rendered":"https:\/\/chettioan.com\/?p=10609"},"modified":"2023-01-26T06:52:23","modified_gmt":"2023-01-26T06:52:23","slug":"vacation-credit-tips-and-tricks-for-travel","status":"publish","type":"post","link":"https:\/\/chettioan.com\/vacation-credit-tips-and-tricks-for-travel-10609.html","title":{"rendered":"Vacation credit &#8211; tips and tricks for travel financing"},"content":{"rendered":"<p>A honeymoon that can&apos;t be postponed, the dream trip together with your partner or a year abroad after graduation &#8211; these are some of the reasons for taking out a vacation loan. The following article provides further assistance with the key questions: how to ideally finance the vacation? What to consider? Are savings tips given?<\/p>\n<p>For your vacation, you can apply for the loan here. Simply select the desired amount and term. We take care of the rest.<\/p>\n<h2>To the vacation loan in a few steps<\/h2>\n<h3>The budget &#8211; An overview of the financing of the vacation<\/h3>\n<p>Before thinking about the vacation loan on the part of the amount, potential borrowers pay attention to their options in terms of repayment. This means: List all monthly costs in a budget plan. The calculation usually results in a surplus, which is partly available for the loan installments. Ideally, not the entire remaining amount goes into the vacation loan redemption, sufficient room for maneuver for unforeseen repairs and new purchases is essential.<\/p>\n<h3>Money for the vacations &#8211; determine loan amount<\/h3>\n<p>When determining the acceptable loan amount, the incidental costs of the trip must be taken into account. Flight and accommodation are paid for by the loan, but what about meals, various daytime ventures and evening entertainment? The travel loan must be higher than initially assumed and this aspect must be included in the determination of the loan amount.<\/p>\n<h3>Many offers for loans &#8211; Compare offered credit options<\/h3>\n<p>The offers to finance a vacation loan are diverse. The vacation credit is increasingly offered by tour operators. They are not financial service providers and cannot compete with the conditions of banks or professional loan brokers. The effective annual interest rates for vacation loans from the travel industry are more than ten percent, on a par with overdraft facilities. An installment loan, as well as a short-term or small loan, can be taken out at much better rates if you have a good credit rating.<\/p>\n<h3>Financing a vacation with a loan &#8211; criteria to consider<\/h3>\n<p>Depending on the duration of the trip, destination and travel time, the vacation can be financed through short-term loans or small loans from institutions specializing in this area. Every choice is preceded by a transparent comparison. The advantage of both variants is the comparatively short term, which results in lower risk for the lender and is therefore more favorable for the borrower.<\/p>\n<p>Those who take out a vacation loan to be repaid in the long term represent a more extensive risk for banks in view of the given payment default. And this is to be paid, with optimal creditworthiness, with higher interest rates. The installments remain lower with a long term, but the total burden increases. The reason: For the financial institutions it is difficult to calculate at the moment of granting the loan whether the borrower will become unemployed, ill or even incapacitated during the repayment period.<\/p>\n<p>Of course, the loan amount must be commensurate with the destination, travel duration, and vacation plans, and must be generously sized. Nevertheless, the amount calculated in the budget, after deducting all fixed costs, should be sufficient to guarantee the monthly loan payments.<\/p>\n<p><span itemprop=\"image\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\"><img itemprop=\"url image\" loading=\"lazy\" src=\"https:\/\/chettioan.com\/wp-content\/uploads\/sites\/464\/2023\/01\/urlaubskredit-tipps-und-6dee56a.jpg\" alt=\"Anyone planning to take out a vacation loan can follow a few money-saving tips\" width=\"640\" height=\"427\" \/><meta itemprop=\"width\" content=\"640\"><meta itemprop=\"height\" content=\"427\"><\/span><\/p>\n<h2>Apply for the vacation loan<\/h2>\n<h3>How to apply for the vacation loan<\/h3>\n<p>In the first step, a reputable lender is found by comparison and then its conditions are determined. After the query to be made online, the borrower decides on a provider and applies for a vacation loan. The key is to provide the lender with a variety of information:<\/p>\n<ul>\n<li>Personal data in the form of a copy of the identity card.<\/li>\n<li>A self-report that corresponds to the truth.<\/li>\n<li>Employer information and salary statements and bank statements for the last three months.<\/li>\n<\/ul>\n<p>For all information, the bank requests a Schufa information about the borrower a. If the vacation loan is applied for by a self-employed person or freelancer, tax returns and, if necessary, a guarantor are required. If the application is made by videoident, this procedure significantly reduces the processing time. For example, the Videoident offer has existed for some time at Vexcash.<\/p>\n<h3>How long does it take for the vacation loan to be paid out??<\/h3>\n<p>It can take one to two weeks from planning to applying to getting a loan paid out.<\/p>\n<p>Key factors are accurate information that doesn&apos;t prompt time-consuming follow-up questions. <\/p>\n<p>There is no significant difference between a branch bank and an online bank in terms of the payout period. Both are bound by regulations to be met and, if approved, pay out to the applicant&apos;s account within three to five working days. Cash payments to the account holder are possible after crediting.<\/p>\n<h2>Saving tips to the vacation credit<\/h2>\n<h3>How to save money on travel loan financing?<\/h3>\n<p>If the travel financing is realized in pairs, there are distinctive advantages for spouses and unmarried partners:<\/p>\n<ul>\n<li>If both show optimal creditworthiness, the interest rate is often lower because of higher collateral.<\/li>\n<li>At the same time, two fixed incomes result in more substantial loan amounts.<\/li>\n<\/ul>\n<p>If the loan amount is higher, dreamy distant destinations, longer travel time and unforgettable experiences are in option. With the decision the personal situation is to be considered, because apart from the advantages also disadvantages are present:<\/p>\n<ul>\n<li>Borrowing in pairs burdens the credit rating of the community.<\/li>\n<li>Both partners are jointly liable beyond a possible divorce.<\/li>\n<\/ul>\n<p>Nevertheless, the advantages of a jointly submitted application for a vacation loan outweigh the disadvantages.<\/p>\n<p>For your vacation, you can apply for the credit here. Simply select the desired amount and term. The rest we take over.<\/p>\n<h3>Save costs by choosing the right type of loan<\/h3>\n<p>Strictly speaking, only the classic installment loan is available for free use. A loan with a defined purpose is granted for purchases such as a car loan and requires the transfer of documents to the bank. The same is true for the real estate loan, where home ownership is transferred to the lender during the term of the loan. Accordingly, there are three credit variants that come into question for travel financing:<\/p>\n<ul>\n<li>Small loan<\/li>\n<li>Short-term loan<\/li>\n<li>Freely usable installment loan<\/li>\n<\/ul>\n<p>Savings can be made primarily through the best possible creditworthiness and the shortest possible terms, because they are associated with low risk for the lender. It should be noted that short terms result in high monthly charges. The optimal solution here is the short-term loan, the alternative would be the vacation loan for partial financing. Which option is ultimately chosen depends on the following factors:<\/p>\n<ul>\n<li>The loan amount mandatory for the vacation.<\/li>\n<li>The repayment rate that matches the short-term loan and can be easily determined.<\/li>\n<\/ul>\n<p>If the two cannot be perfectly reconciled, resort to existing reserves and partial financing as the only viable model.<\/p>\n<p><span itemprop=\"image\" itemscope itemtype=\"https:\/\/schema.org\/ImageObject\"><img itemprop=\"url image\" loading=\"lazy\" src=\"https:\/\/chettioan.com\/wp-content\/uploads\/sites\/464\/2023\/01\/urlaubskredit-tipps-und-1480c9.jpg\" alt=\"With a good credit rating it works out with the vacation loan\" width=\"640\" height=\"428\" \/><meta itemprop=\"width\" content=\"640\"><meta itemprop=\"height\" content=\"428\"><\/span><\/p>\n<h2>The most important tips for the vacation loan<\/h2>\n<h3>Is a vacation on credit possible despite a negative SCHUFA entry?<\/h3>\n<p>Who seeks a travel loan with a negative Schufa entry, will receive a rejection from any conventional bank or savings bank. Institutions are encouraged to reduce the probability of default as best as possible, and the Schufa query is a standardized tool. It remain:<\/p>\n<ul>\n<li>The providers of so-called loans &quot;without Schufa&quot;.<\/li>\n<li>Portals for loans from private to private.<\/li>\n<\/ul>\n<h3>Apply for a vacation loan as an unemployed person<\/h3>\n<p>In principle, it is possible to obtain a loan for the vacation as a job seeker. But at a German bank, the application is hopeless. The reason: Because the lender wants to have information about the employer and current earnings. Theoretically, it would be possible to apply for a small loan if the unemployment benefit is above average. In this case, the vacation must be clarified with the employment agency, as job seekers are supposed to be permanently available to the labor market.<\/p>\n<h3>Are there special vacation loans for students?<\/h3>\n<p>The combination works with banks if students meet the same conditions as other employees, i.e. demonstrate sufficient earnings and optimal creditworthiness. The only exceptions:<\/p>\n<ul>\n<li>The student applies for the vacation loan together with a financially well-off life partner.<\/li>\n<li>The parents act as guarantors.<\/li>\n<\/ul>\n<p>What speaks for the vacation loan and which people can apply for it?<\/h3>\n<p>If, for example, it can be foreseen that a trip will lead to an overdraft of the current account, the vacation is better financed with a loan taken out specifically for this purpose. With a good credit rating, such loans are much lower interest rates. Of course, only people take travel loans for which the following aspects apply:<\/p>\n<ul>\n<li>Sufficient creditworthiness.<\/li>\n<li>Monthly income leaves enough room for repayment after deduction of all costs<\/li>\n<\/ul>\n<p>You can apply for a loan for your vacation here. Simply select the desired amount and term. We take care of the rest.<\/p>\n<h3>How can a vacation loan be taken out without Postident procedure?<\/h3>\n<p>The procedure is currently still standard with most lenders and serves to identify the applicant. Those who apply online for an installment loan or short-term loan print out a coupon and go with it and their ID card to the nearest post office branch. There he has his identity including residence established and the signed document is then sent by mail to the lender. The postal service takes several days, the comparatively new Videoident procedure is much faster. This is used, for example, at Vexcash and is done within a few minutes online. An employee communicates with the applicant via screen and computer camera, with the latter holding his identification document in front of the camera in predefined positions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A honeymoon that can&apos;t be postponed, the dream trip together with your partner or a year abroad after graduation &#8211; these are some of the reasons for taking&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vacation credit - tips and tricks for travel financing - chettioan.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/chettioan.com\/vacation-credit-tips-and-tricks-for-travel-10609.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vacation credit - tips and tricks for travel financing - chettioan.com\" \/>\n<meta property=\"og:description\" content=\"A honeymoon that can&amp;apos;t be postponed, the dream trip together with your partner or a year abroad after graduation &#8211; 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