The Mutual Credit works loan is a type of credit that can be found everywhere. As well among consumer credit specialists as in competing banks such as Bank Postale credit. We therefore made a comparison of work loans to assess Mutual Credit work credit.
Mutual Credit works loan against the rest of the market
To offer an objective credit comparison, there are two essential factors to take into account:
- The taeg rate : annual effective annual rate, it is the legal rate for the consumer credit which includes all the costs, including the administrative fees if there are any. And there are some on the Mutual Credit works loan.
- Acceptance of the file : there is no point in knowing who offers the best rate if it is so that his file is refused.
We will therefore compare the Mutual Credit works loan with the best works loan offers on the market to know to what extent it should be chosen.
Mutual Credit works loan rate
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It should be noted at the outset that Mutual Credit provides a fairly effective simulator. In general, traditional banks are a little behind in the internet and in consumer credit. In any case compared to specialized organizations like Cofidis or Cetelem, as we had identified in our survey on online credit simulation.
The fact remains that the Mutual Credit work loan simulation system is efficient enough to allow us to easily compare their offers at the best work credit rate.
Works loan from $ 5,000 to $ 50,000
This is the heart of the demand for works credit in France. It is also the heart of the Mutual Credit works loan offer.
IMPORTANT : People who are not Mutual Credit customers will not be able to directly apply for the proposed Mutual Credit work loans but will first have to make an appointment with an adviser.
Example: work credit 10,000 USD over a 60-month repayment period
Best fixed taeg rate on the market: 2.50% monthly payment: $ 177.35 cost of credit: $ 641.00
Fixed taeg rate for Mutual Credit works loan: 3.10% monthly payment: $ 185.11 cost of credit: $ 802.25
Mutual Credit’s work loan offer is not the most competitive, but it should be noted that it is still rather cheap compared to what banks can generally offer. So do not hesitate to compare their offer (see their simulator) at the best rates of specialists (accessible via our comparator) to get the best work credit.
NB: You still have to be a little wary of their simulator, as we analyzed in our article on the Mutual Credit simulator.
Works credit> 50,000 USD
For work loans of more than 50,000 USD, Mutual Credit recommends opting for a company loan. This seems a little surprising given that this company loan seems clearly dedicated to mortgage. We therefore conclude that Mutual Credit’s works loan offer is limited to 50,000 USD.
Small works credit <5,000 USD
The offers are different for a small work credit. Indeed, the entire market, or almost offers rather revolving credit. In this case, you should not rely solely on the rate to obtain an objective ranking. Indeed, the rate is revisable and the repayment speeds proposed greatly influence the total cost of credit.
Mutual Credit highlights its revolving credit Passport Crédit. In view of our analysis of the Passport Credit offer, this is really not the credit that we recommend in this case. But as for the $ 5,000 – $ 50,000 works loan, their offer will have to be compared to the best offer on the market.
Acceptance of the Mutual Credit works loan
The first thing seems quite clear: if you are not already a Mutual Credit customer, it will not be possible to apply for a Mutual Credit work loan online. You will need to make an appointment with an advisor. And in our opinion, it will mainly be a question of changing banks globally.
For Mutual Credit customers, it was not possible for us to obtain reliable information on the acceptance rate of Mutual Credit works credit. What can be said overall about bank credit is that consumer credit is not their specialty. They generally and only accept to support their “good customers” in their project.
The system that we have put in place makes it possible to obtain an immediate response in principle from the cheapest credit organization adapted to each project. If the file does not go through, simply interrogate the second with a single click. The approach is not engaging and allows to have what rate each can concretely obtain.
With this best offer from the specialist market, it will be easy to make an appointment with his advisor and see if he can offer a Mutual Credit work loan at a better rate.