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Revolving credit: what supporting documents are requested?

Revolving credit is the loan without proof of project most easily accepted by the credit organizations, but which proof of credit is requested? We will see that the list of supporting documents is generally always the same. Credit organizations do not accept applications according to the same criteria. Focus on the issue of revolving credit and requested supporting documents, as well as the method to obtain an opinion without unpleasant surprises.

What supporting documents to obtain a revolving credit?

What supporting documents to obtain a revolving credit?

Revolving credit without proof of use is not to be confused with the proofs requested to obtain a loan.

Revolving credit is, like any consumer credit, subject to the delivery of supporting documents. It is often associated with small amounts, less than 4000 USD. This small loan is more flexible than other types of loans, since it allows you to use a reserve of money at any time. This “replenishable” credit is also easier to obtain, but also much more expensive on average. Its rates regularly reach the wear threshold, namely around 20% APR.

Revolving credit: list of supporting documents

Revolving credit: list of supporting documents

There is generally no distinction between large credit organizations regarding supporting documentation for revolving credit:

  • An ID
  • Proof of address
  • Two pay slips
  • A rib

Employees generally never have to provide a tax notice. The self-employed, retired or disabled are however not exempt.

Acceptance criteria for revolving credit

Acceptance criteria for revolving credit

An online revolving credit application can very well be accepted by one specialist and refused by another, without ever knowing why. Specialists apply different acceptance criteria, although some – like Cofinance – are known to accept many applications.

This is the reason why our revolving credit comparator integrates an answer in principle according to two criteria:

  • The level of the revisable APR rate
  • Chances of receiving a favorable opinion

Once the questionnaire is completed, our tool is able to draw up a classification according to these two criteria. The objective is clear: to apply for a truly accepted revolving credit at the best rate. A small need for money can rarely wait long.

Note: only requests for credit 4000 USD or less direct towards small revolving credit solutions.

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