# Calculating revolving credit :The revolving credit.

Where can you find the best advice when applying for a revolving credit? To properly calculate how much a loan costs you, it is not only important to calculate how much money this will cost you per month, but also how long it will take. Because with the current low interest rates that you will find everywhere, chances are high that interest rates will rise.

With a revolving credit this means very simply that your interest can also go up. There is no certainty that the percentage that you now receive for your loan will remain the same. That is true with a normal loan, but not with a revolving credit. You have no guarantee that the monthly amount will remain the same. This can also simply increase if your credit provider suggests this. Be aware of this and ask about it.

## How much money can you borrow?

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If you want to calculate how much money you spend on a loan and how much you will repay per month, it is also important to consider how much money you really need. Via the providers of loans that you come across here and there on the internet, you can very easily calculate yourself how much money you have to repay per month and how long you will be doing that. However, the temptation is super great to take as long as possible about paying back. Because why would you pay back so much per month?

The reason for not giving in is very simple: there will come a time when interest rates will rise again, probably with all providers. And as soon as the economy starts to grow again, the ECB will probably have to raise interest rates again. This also increases interest rates for consumer loans, such as your revolving credit that you now want to take out. When this will happen is of course difficult to predict. But it is good to take this into account. Because that interest is going up.

Banks and other lenders still advertise with low interest rates, but how will this be in a few years? Or else: how do you know for sure that in a few years you will still have a good income to repay the loan? It is therefore better to repay the loan within a reasonable period. Otherwise you will continue to pay back your loan.

Tip : Be very careful. Calculate well what you can pay back, be aware of your capacity. Also don’t take the loan too long. It is smart to repay the loan in time. Good luck!

## Cheapest revolving credit

Many people simply take out the first continuous credit, but if you look a little further and compare the providers, you can save many thousands of euros on an annual basis. It is mainly the large banks that charge high interest rates for a revolving credit, while newcomers or other lenders can be much cheaper.