Do you need to apply for a credit card of up to € 5000? Are you looking for a loan through a card that allows you to return money flexibly? Maybe you are considering applying for a credit card to have extra cash for contingencies.
The option of loans through cards is an interesting option, since you have an extra fund for any unforeseen event. So you will not have to ask for a microcredit for an unexpected situation, you will always have a safety net on your own card. Of course, remember to use it with a head and not resort to that extra credit unless necessary.
Are you worried about borrowing? The problem with credit cards is not in the product itself, but in the use made of them. An unforeseen expense, a purchase in the supermarket at the end of the month, the urgent repair of an appliance, a celebration. These are some of the cases where the use of the credit card can be a solution.
You should value this credit that allows the card as a solution to address a specific situation, since otherwise you may run the risk of borrowing.
What is Novastcard
Novast Card EFC SAU is a financial products entity specializing in loans and credit cards. Its flagship product and the most demanded are Visa and Mastercard cards with credit of up to € 5000. If you hire a card with them, you will not only be hiring credit but you will also have access to: discounts on purchases, 1% refund of all card payments and access to a points program to redeem for gifts. But without a doubt, the two most important concepts associated with this credit card are:
- Security: Novastcard is regulated by the Bank of Spain, which gives you security when ordering your card.
- Free credit cards, no additional costs: You will not pay extra to receive your card, maintenance costs or any other extra added. You will only pay interest for the money borrowed neither more nor less. This is what we mean by saying that it is free.
How to request an Novastcard card
The steps to apply for your credit card online are very simple. In less than 5 minutes you will have already made the request with Novastcard.
We tell you the procedure to follow:
Enter Novastcard.es and select the type of card you wish to apply for: Novastcard visa credit card (classic, gold or platinum) or Mastercard credit card (classic, gold or platinum). All of them have a maximum credit of € 5000.
Fill in the form: enter the information requested (name, surname, IRE or NID, mobile phone, zip code etc) and send the request.
Enter the information about your professional situation and your bank account: finally, enter the data on profession and bank details. With all this, Novastcard will make a study on your solvency, to determine the amount of credit that it can offer you.
With these simple steps you have already applied for your credit card. Novastcard will contact you to respond to the approval of your request and you will receive your credit card at the address indicated by courier.
Once in your possession, you only have to activate it.
With your card you will also receive the keys to access the customer area and online banking, where you can comfortably check the movements of your card, check the accumulated points and perform any other management.
Requirements to request your credit card
You are unique with your circumstances and personal situation, and that is why Novastcard individually manages each card request. However, there are some minimum requirements that you should know before requesting your card loan:
- You must be of legal age
- Your name must not appear in any delinquent file, this will be an entry barrier when granting you the card.
- You must have a bank account and a telephone number for communications.
- Have monthly income.
Do you meet these minimum requirements? You can now request your credit card and wait for the response. The credit of the card will be according to your situation, the maximum being € 5000.
What interest should you pay for the use of your credit card
The interest to be paid by your credit card varies depending on the concept of return you choose. Since you can pay overdue month or defer payment of money spent on monthly payments. Interest payable is reflected in two rates that you should know:
TIN: It is the nominal interest rate. Translated into a language accessible to all, it would be the percentage that is added to the money borrowed as compensation for the extra time they give you to return the amount. This rate is not annual, but the APR is usually calculated from the TIN.
APR: It is the equivalent annual rate, that is, the final value of the loan counting the interest and other expenses associated in this case to the credit card. This rate was set by the Bank of Spain to regulate all loan financial products.
Having clarified these concepts, let’s see the interests that you will have to pay in each case, depending on the use you make of your Novastcard credit card:
Deferred payment: With this payment method, you return the money flexibly in monthly installments. You choose what you want to pay per month. The interests in this case depend on your personal situation. The annual rate can vary from 19% to 26%. It varies depending on your monthly income. When you send your request, Novastcard values the risk of granting you the card and depending on this it gives you the interest rate to pay. However, when they approve your request they will tell you what interests you will pay.
Monthly amortization: When you amortize the money spent the following month, the interest you pay is 21% APR and 19.21% TIN. To see it more clearly, let’s give an example: you want to amortize € 1000 in 12 months, paying a monthly fee of € 92.26. At the end of the year the total amount would be € 1,107.06, with which at the end of the period you would pay € 107.06 of interest.
Bridge Cash: In case you want to make a transfer to your bank account, the interest would be the same as in the case of monthly amortization. Nominal interest rate 19.21%, and equivalent annual rate 21%.
Take money on credit at ATMs: When you take money from your credit card at ATMs, this also has an extra cost, in this case we would be talking about 4%, the minimum being always a commission amount of € 2. You should keep in mind that a credit card is usually used to pay at stores and not as a debit card to use.
Benefits of Novastcard credit cards
Points and gifts: For each € 6 expense you will accumulate one point. These points can be exchanged for very interesting gifts within the Novastcard points program. We recommend that you periodically check the accumulated points, because if you do not use them they expire. They have very practical gifts such as: tool boxes, pans, televisions, laptops, decoration, toys and a wide catalog where products are changing and updating.
Free insurance: Novastcard cards are associated with several free insurance that are available to you while you have your Visa or Mastercard. These are free insurance:
- Protection insurance for all your purchases
- Travel and accident assistance insurance
Return on all purchases: As an advantage you can also benefit from 1% of the total amount of purchases you make with your card. At least you know that you will recover some of the expense incurred and this is always an added joy. To put yourself in a situation, for every € 1000 purchase you will have € 10 return.
Cards with advanced technology: Technology also advances in the field of credit cards and debit cards. In this case all Novastcard cards have PIN, CHIP and EMV technology, to have a maximum level of security in all purchases.