Knowing how to obtain high-value credit is essential to avoid becoming a victim of scams or contracting conditions that are harmful to your financial life.

With that in mind, we've come up with tips for hiring one without running into any problems. So protect yourself and your money. All this without giving up on achieving what you want in your life: be it your dream course, a house, car or trip!

Personal credit is that type of loan that is made directly in the citizen's name. In this case, then, he does not need to offer guarantees (such as real estate properties and vehicles). On the other hand, however, interest rates are usually higher.

Despite this, the value can be used as you wish. In other words, there is no need to link the borrowed money to a specific use. Therefore, you are the one who has the freedom to use and manage it as you see fit. Below, see the advantages and disadvantages!

The advantages of a high-value personal credit are, basically, that you do not compromise any of your assets when contracting. In other words, you do not need to keep your house or car as collateral for the credit, which would prevent the sale, exchange or other transactions with these assets, even if they belong to you.

Furthermore, a highlight of personal credit is that you have the freedom to use the money however you want. For example, with travel, when purchasing a property or a car. Or, to renovate your house or to finance your studies.

Even if you change your mind about what you initially wanted to do with the money, that's no problem! You do not need to justify yourself at any time, just pay the installments on time.

Getting a high-value credit in personal form is possible, but it may not be the best idea. This is precisely due to the disadvantages that accompany this type of loan.

After all, precisely because there is no guarantee of good, here, the loan has higher interest rates. This happens because the financial company (or bank, fintech, etc.) passes on the risks it assumes to the customer. In other words, you pay, from the outset, for the risks that the finance company has! And this is nothing more than interest.

Furthermore, it is often necessary to have a long positive banking history to obtain high amounts of personal credit. Therefore, it is necessary to know other options to ensure the best choice and to avoid getting ripped off!

There are several types of credit in Portugal. Therefore, anyone looking for a high-value loan does not need to stick to personal loans, but instead invest in other alternatives that have lower interest rates, for example.

However, the reduction in interest generally depends on the granting of an asset as collateral. Therefore, until the loan is completely paid off, you cannot sell this asset, whether it is a property or a vehicle. Also, you cannot exchange it or take any type of action.

Also consider that if the installments are not paid, you may lose the asset you left as collateral. Therefore, regardless of which option you choose, know: high-value credit requires commitment and a lot of care. Otherwise it could be a source of problems.

In this case, when taking out high-value credit, your car guarantees the bank that you are able to pay the amount. By having a guarantee, the interest value tends to decrease significantly. However, remember that it is usually a credit with many installments and that while they last, your asset remains in guarantee and cannot be sold or exchanged.

This type of credit works in a very similar way to the previous item. After all, it also places an asset as collateral in order to reduce interest rates. Therefore, it can be an alternative for those who need a lot of money.

The third type of credit we exchange does not grant money. In fact, it serves to consolidate the installments of 2 or more other loans that are still in payment. However, these installments must be up to date.

When consolidating the installments, the amount paid monthly is less than the sum of the previous individual installments.

It is also possible to take out financing in Portugal, making it a great option for those who need to obtain high-value credit. In this case, however, the amount is directly related to some purpose. For example, with the purchase of a car or your own home. Thus, there is no freedom to use it for other purposes.

This depends on each client. After all, conditions vary from client to client. Not to mention that everyone has their own preferences, so there is no definitive answer.

However, when taking out a high-value credit it is important to keep some precautions in mind. First, do more than one simulation. Therefore, have different proposals on hand that allow you to compare conditions and interest rates.

Also, try to find out more about each institution and the reputation they have in the market. Consult databases, complaint sites and social networks. This helps (a lot!) when it comes to taking out a high-value loan.

Finally, remember that no financial institution (fintech, financial institution or bank) requires an initial deposit to grant the loan. If you receive a proposal that involves this, run away! It's a scam!

Below, check out more security tips and find out how to get a loan in Portugal.