New alternative to 24-hour online loans

Anest @ Honest

Apr 30, 2025

‍What is an Online Loan

Have you ever heard of the term online loan or "Pinjol"? Pinjol is a financial service that allows you to borrow money through a digital platform, such as a Pinjol app, without needing to visit a bank. Many online loans are available 24 hours a day, ready to help you at any time, even in the middle of the night. It’s no surprise that online loans have become an easy and quick loan solution chosen by many people.

Typically, online loans can be used for various needs, ranging from business capital to home renovation and other purposes. However, before using this service, it’s very important to check whether the platform is registered with the Financial Services Authority (OJK). That way, you can feel more at ease because you’re using a trusted and secure loan service.

Now, if you need urgent funds, Pinjol can be a solution. But what if you're looking for an equally practical alternative? This is where credit cards can be another attractive option.

How can a credit card help

In addition to the online loans discussed earlier, a credit card can also be a practical, quick and easy alternative to meet financial needs without hassle. Just like 24-hour instant personal loans, credit cards offer flexibility because they can be used anytime, 24/7.

For example, the Honest credit card allows you to shop without having to carry cash. You also have multiple ways to pay your bill at your convenience. Now, compared to 24-hour online loans, credit cards have some interesting advantages. What are they? Let’s discuss credit cards as an alternative to online loans!

Credit card vs 24-hour online loan apps

Confused about whether to choose a credit card or an online loan? Let's compare them so you can understand better!

Feature	Credit Card	24 Hour Online Loan, Pinjol
Application process	Typically longer because there is a stricter verification process. For a faster application process, try applying for the Honest credit card. The application process only takes 5 minutes, and the approval can be as fast as 2 hours.	The application process is fast and completely online.
Usage Flexibility	It can be used anywhere, both online and offline. However, take note that not all credit cards offer cash loan options.	Only accessible in the form of cash, which usually goes directly into your account.
Interests	The interest is charged only if the bill is not paid in full by the due date.	There is an interest charge that is applied only if the bill is not fully paid by the due date. The interest is usually higher and applied daily. In fact, you still have to pay the loan interest even if you are able to pay off the loan faster.
Extra Fees	There may be an annual fee, late payment fees, and other charges. However, with an Honest credit card, there is only one fee based on the total bill amount. You will also be exempt from fees if you pay in full and on time.	There are administrative fees and late payment charges.
Security	Protected by various banking regulations and equipped with fraud prevention systems.	It's important to be careful and only choose trustworthy applications that are registered with OJK because they are more prone to risks and fraud.
Additional Benefits	Many promotional programs and other benefits that can be enjoyed repeatedly. Ideal for daily needs such as shopping, dining at restaurants, or paying bills.	Usually, there are no additional programs other than promotions when you first sign up. It is suitable for urgent needs such as small business capital.

In essence, choose the financial products that best suit your needs and financial capabilities. Also, make sure the product you choose is trustworthy, such as the Honest Credit Card, which is licensed and supervised by the Financial Services Authority (OJK) and Bank Indonesia (BI). Before deciding to get a credit card, make sure you fully understand how it works and are ready to take responsibility for every transaction you make!

Comparison of costs and interest rates: credit cards vs online loans

Let's talk about the costs you need to consider when using a credit card or an online personal loan, so you can choose the one that best fits your budget.

Fee	Credit card (Honest Credit Card)	Online Loan
Interest	0% if paid in full every month. No additional interest if paid on time.	Usually higher and calculated daily. Some are flat, while others decrease.
Extra Fees	Only one monthly fee adjusted to the amount of the bill, and Rp0 for other fees.	Administrative fees, provision fees, and late payment fees.

The Honest credit card is an example of a credit card that offers flexibility and convenience. With full payment each month, you can enjoy 0% interest and no additional fees.

Instant personal online loans generally have higher costs due to daily interest charges and various additional fees.

So, which one is more expensive?

In general, online loans tend to have higher costs compared to credit cards if payments are made on time. However, this can vary depending on the type of online loan or credit card you choose.

Why do so many people still seek online loans?

Despite the risks, many people still opt for instant personal online loans. Why is that? Let's discuss a few reasons:

The Process is Quick and Easy‍

Who doesn't love convenience? Online loans have a really fast process. You just fill in your details in an app, and the money can be disbursed instantly. Especially when you need money urgently, online loans are tempting because you don’t need to bring a bunch of documents to the bank.

However, modern credit cards like Honest also offer the same quick and easy application process. With just your ID card (KTP), you can apply online and get a decision within hours. So, if you need flexibility without long waiting times, a credit card might be an attractive alternative.

The Requirements Are Simple‍

Unlike bank loans, online loans usually don’t require complex collateral. Typically, all you need is your ID card (KTP) to apply. This is a big advantage for those who might not have collateral or don’t want to deal with complicated requirements. However, credit cards like Honest also offer an easy application process with just your ID card, without the need for collateral.

Easy Accessibility‍

With smartphones and internet connectivity, online loans have become easily accessible anytime and anywhere. You no longer need to visit a bank or post office to apply for an instant personal loan. With just a few clicks, you can receive cash. This convenience makes online loans a popular choice for many people.

However, don't be mistaken; credit cards can now also be managed digitally through apps. For example, the Honest credit card allows you to manage transactions, payments, and even promotions directly from the app. This offers the same practicality as an online loan app, but with added security and benefits.

Keep in mind, though, that the convenience of online loans also comes with its own risks. Before deciding to borrow online, make sure you fully understand the terms and conditions, and ensure you can repay the loan along with the interest. As an alternative, you might consider getting an Honest app using your credit card, which offers flexibility, security, and various attractive promotions.

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