In the market for personal loans, or consumer loans, there are just as many banks as there are finance companies. The case of Good Credit is quite special since this company was, in turn, a financing company, before becoming a full-fledged bank and then a new finance company. A private organization nationalized in 1982, then privatized in 1987, Good Credit was finally bought out by Fine Bank in 1999. At that moment, it lost its bank status.
Since then, Good Credit has forged numerous partnerships, particularly with automobile manufacturers such as Fiat, Ford, Chrysler, Renault, and Jaguar. She was also the creator of the first co-branded cards.
How is Good Credit’s revolving credit structured?
The presentation of Good Credit’s silver reserve differs from that of other players in this market. Indeed, the Fine Bank brand distinguishes two parties to its product; loans below $ 1,500, and those above this symbolic barrier.
- Loans lower than 1500 $: Reimbursement in 10 months maximum with a rate of 7,90% revisable “only”. This is the lowest rate found among the establishments we saw on these pages. It is even lower than the one submitted by … Fine Bank.
- Borrowings over 1500 $ (Up to 6000 $): Longer reconstitution time of the money reserve, with higher rates also. (19.94% for a duration of 36 months for example).
The Agile Reserve of Good Credit has other characteristics
Good Credit, as a commercial brand of the CA, offers the same options like banks, namely the possibility of backing a Visa blue card to the revolving. What Cofinoga does not do, for example. Here, the card is directly distributed by Good Credit and is called Visa Agile. And, if the contribution of the credit card is offered the first year, it is charged at 19 $ for the following years (49 $ for the Visa Premier Agile).
The other advantage of the Visa Agile card is that it allows access to special offers, specifically reserved for holders of the card, in many stores in France. And of course, all the guarantees that are usually found on Visa blue card contracts are also present here.
The only problem, if one can say, is the amount of the maximum envelope of the revolving credit, limited to $ 6,000.
In summary, we can say that the revolving credit of Good Credit offers a complete service and can limit the costs by favoring a short repayment period (10 months), to better control his budget. We know that money reserves can prove to be real pitfalls. It is therefore important to control the cost of such a product. And the work of Good Credit seems to be focused in this direction.