Wirex Credit vs. Conventional Loans: Who Comes Out on Top?

Region: Europe
Nov 8, 2023, 7:06:08 AM Published By Wirex Team

Considering taking out a Wirex Credit line and wondering how it compares to a conventional loan? Where do we begin? Read on for just a few of the reasons Wirex Credit is the way forward.

Lower interest rates

Depending on the stablecoin you choose to borrow, you can pay as little as 0% interest when you take out a Wirex Credit line. You certainly won’t find rates like those elsewhere!

No lengthy checks

Why waste time on endless credit and affordability checks when you can receive your stablecoins instantly with Wirex Credit? Zero impact on your credit score – taking out a Wirex Credit line doesn’t affect your credit score in any way. Because why should it?

More flexible terms

We designed Wirex Credit to be as flexible as possible. That’s why you’ll only pay interest for the days you have a live credit line and you can repay it whenever you like.

No waiting around

Get your stablecoins straightaway then exchange them to a currency of your choice or spend them with your Wirex card.

How to Open a Wirex Credit Line

To open Wirex Credit, follow these steps:

  1. Go to “Grow” tab and then press on “Borrow”;
  2. Choose a credit account from the list of available accounts;
  3. Choose a preferable ratio, collateral account, and borrowed amount, and then press “Continue”;
  4. Accept the Wirex Credit T&C, confirm the credit details, and press “Confirm”;
  5. You will see the list of the credits you’ve made.

Get Wirex Credit and find out more information here!