Getting credit in 24 hours is impossible in principle. Indeed, in the same way that there is no real immediate credit, there are technical and legal constraints which do not allow to obtain the money of a fast credit in one day. Here is what is possible:
- Get money from a revolving credit already existing in 24H
- Get a mini credit (50 $ to 200 $) in 24H
- Receive a response in principle within 24 hours
- Get store credit immediately
Obtaining credit in 24 hours: legal limits
What limits the possibility of obtaining credit within 24 hours is mainly the law defining consumer credit. And it is particularly two texts that block this possibility. However, we will see that there are special cases.
The credit agreement
The text of the law governing the credit contract is very clear for an urgent credit request:
During a period of seven days from the acceptance of the contract by the borrower, no payment, in any form and for any reason whatsoever, may be made by the lender to the borrower or on behalf of the borrower. – neither by the borrower to the lender.
In other words, even if it were possible to go to his bank, to be received immediately by his banker, for him to seize the immediate credit request file, for the answer to be given immediately and for it to be positive (which can be complicated with the banker!)… Well, the money could not legally be paid into the borrower’s account before 7 days.
Scope of the consumer credit law
The second legal limit complicating the task of obtaining credit in 24 hours is the limit defining consumer credit. The scope of the consumer credit law applies to loans from $ 200.
In other words, getting a quick loan of more than $ 200 in 24 hours is impossible. However, getting $ 199 in less than 24 hours is possible. And moreover, companies have launched themselves into the niche.
Get a credit of less than 200 $ in 24h
As we have just seen, it is legally the most important sum that one can obtain for a new request for financing within the framework of a new fast credit. We can get more if we already have a credit as we will see later.
These are companies like Viloan or Bankate who launched themselves on the principle of this credit in 24 hours even if it is necessary to have in mind that it is a fact a kind of cash advance of 199 $ maximum. The applied rates are those of revolving credit around 20%.
The main rules for obtaining this express credit are:
- At least 21 years old
- Domiciled in France
- Having a justifiable monthly income
It is therefore not possible either to obtain a credit in 24 hours without proof. You will have to prove your identity, address and potentially income.
However to get a loan as quickly as possible, you have to go through fast online credit.
This is what makes it possible to have a first response in principle directly. Because apart from the legal constraints, the most important thing is to obtain a credit with immediate response and an express treatment of your file with the supporting documents.
24 hour credit: already existing loan
This is the only real option that can correspond to a need for credit in 24 hours. Indeed, since it is not possible to obtain a new credit, it is possible to use an already open one. This is what revolving credit does.
Directly offered by banks or credit organizations, revolving credit also often takes the form of a store credit card. For those who have one, it is possible to use this easy credit as long as one does not reach the maximum authorized limit. With this product, you can get credit money in 24 hours by direct transfer to your bank account. Just connect to your personal space on the internet or contact an advisor by phone.
Get a new loan as quickly as possible
For any request over $ 200 and if you don’t already have revolving credit, you will need to apply for a loan and get a quick loan.
To go as quickly as possible and have the maximum chance of obtaining the best rate of consumer credit, our credit comparator does not just offer a ranking. At the end of the entry of our questionnaire, the request is automatically sent to the cheapest organization. The borrower then receives a first response in principle immediately. In this way, everyone can know if their file is eligible for the best rate. If this is not the case, it is enough to question the second best organization or the third with a single click to obtain there again an immediate answer in principle.
To get the credit money as soon as possible, you must prepare photocopies of your supporting documents as soon as the agreement in principle has been obtained. To save even more time, it may be possible for certain organizations to obtain the contract electronically (either by email or by logging into their personal space), this is one of the principles of online credit. By printing it yourself, rather than waiting it in the mail, you can save 2 to 3 days.
Once the returned contract signed with the supporting documents, counting the time of the post office, the time of final processing and payment of the funds, as quickly as possible, one can obtain the money of the credit in approximately 7 days on his bank account.
Get store credit
Store credit is immediate credit. Indeed, if one wishes to finance the purchase of a television and leave immediately with it, it is possible. Most major brands offer it. We are in the case of a credit allocated and not unallocated (see the law on consumer credit). It is possible to finance property but not to obtain money.
Obtaining a credit in 24 hours is therefore possible in this case since the credit is granted immediately. But it is only for limited amounts and allocated to a specific purchase. The legal rules are specific to the credit affected in this case. There is no money available.