Creditgalaga is a fast payday loan given online from PLN 100 to 5,000 for a period of 5 to 90 days. The first loan, unfortunately, is not free and can be obtained in the amount of max. PLN 1,500 for up to 30 days. Below you will find a review of the Creditgalaga loan, company information, check the conditions on which it is available, learn about its advantages and disadvantages and the opinions of customers about the company and its offer. 

Who is the quick credit rate available for? What conditions must be met in order to be able to submit an application?

The company directs its offer to clients who:

  • they are at least 18 years of age and no more than 70 years old,
  • they have an ID card,
  • they are citizens of Poland,
  • have a fixed income,
  • they have their own mobile number,
  • they will provide real data during registration,
  • they will go through a credit check.

What else should you know?:

  • Rules for consumer loans – payday loans

How to get a short-term loan?

How to get a short-term loan?

The procedures for borrowing are quick and easy. At the first there is a bit more formalities, while the next one is obtained basically on demand.

Formalities at the first loan:

  1. You provide the details of the loan, i.e. the amount and the repayment period (max. PLN 1,500 for a period of 5 to 30 days), and then click the Submit application button.
  2. You register on the Lender website when you submit your first loan application, where you provide factual data.
  3. You are going through identity and solvency verification. You confirm the identity by transferring PLN 0.01 to the company’s account. Solvency and creditworthiness is verified on the basis of financial information that you previously provided in the application.
  4. You approve the application. Then the completed and submitted form will be sent for consideration. The company reserves the right to contact the applicant in order to obtain additional information necessary to make a loan decision.
  5. After the application has been approved, the money will go to your bank account.

Formalities with another loan

Formalities with another loan

For returning customers, the procedures are simplified and depending on the status you have, you can borrow up to 5,000 PLN:

  1. You provide loan details – you set the amount on the calculator, log in to your account and submit an application there. Remember that you can have only one commitment at any one time.
  2. You approve the application, which will be considered in the same way as for the first loan.
  3. After the application has been approved, the money will be transferred to your bank account.

For what reasons your application may be rejected?

For what reasons your application may be rejected?

In these matters, the company does not speak clearly and does not give a definite answer. On the company’s website a lot is written about responsible lending, verification of creditworthiness and checking in debtors’ registers. There is a lot of content, but there is a lack of details and details.

The company informs that the Creditgalaga loan is granted according to meticulous and rational procedures, using, among others, creditworthiness assessment methods, checks at credit institutions and verification of income levels. The solvency control is carried out for each loan application, checking the credit reference databases. Unfortunately, no possible reasons are given for which a negative credit decision may be issued.

How much does a fast loan at Creditgalaga cost?

How much does a fast loan at Creditgalaga cost?

A representative example for a PLN 2,000 loan for a period of 30 days:

  • total loan amount PLN 2,000,
  • contract duration of 30 days,
  • capital interest: 10.00% on an annual basis,
  • APRC = 1 881.69%,
  • commission: PLN 540.00,
  • interest: PLN 16.44,
  • number of installments – 1,
  • amount of installments: PLN 2,556.44
  • the total amount to be repaid (total loan amount and total loan cost): PLN 2,556.44,

A creditsperson, and a repayment extension

A creditsperson, and a repayment extension

In the case of people having problems with the repayment of obligations within the deadline, the company does not charge penal interest, if they make a repayment extension. The company offers the option of extending the loan by 5-30 days. Choosing this solution, we will have to pay costs in the same amount as for the original loan.

Advantages and disadvantages of the loan

Advantages and disadvantages of the loan

Benefits:

  • applicants are not checked at BIK and BIG Infomonitor,
  • the maximum loan amount of PLN 5,000,
  • long repayment time of another loan up to 90 days.

Disadvantages:

  • the company checks the registries of the KRD and ERIF debtors,
  • high cost of a payday,
  • checks the creditworthiness of clients,
  • low first loan, only PLN 1,500,
  • the high cost of extending the loan in line with the level of interest of the original commitment,
  • no first free loan promotion,
  • the lender’s website does not contain all the information of interest to the potential customer.