Haycredito Spain

Quick verdict: Hay Credito (haycredito.es) is a Spain‑based micro‑loan provider offering fully online, short‑term credits. First‑time borrowers can typically request €100–€500 for 5–30 days. Returning customers may qualify for up to €1,500 with the same maximum 30‑day term. Decisions are automated (often within ~15 minutes) and funds are sent to a Spanish bank account. Repayment can be done by bank transfer, Bizum, auto‑debit, or via a “Pay” function in the customer area. There’s a 14‑day withdrawal right under Spanish law, extensions (prórrogas) may be available for a fee, and restructuring can be negotiated. Late costs are high: for the first loan, the daily penalty is 2% of the outstanding principal (capped at 200% of principal), and for repeat loans 2.5%, plus a one‑time 15% collection fee from day one of delay. Treat this as an emergency bridge, not a recurring budget tool.

What Hay Credito is (and isn’t)

• Category: Online micro‑credit for small amounts and short horizons. No branch visits or collateral; the journey is fully digital (identity checks, decisions, contract signature, and disbursement all happen online).
• Limits & terms: First loan €100–€500; returning customers up to €1,500; terms from 5 up to 30 days.
• Pricing display: Representative TAE (APR in Spain) is disclosed in examples. Because durations are short, annualized rates look extremely high, but the cash cost (total to repay) is finite and shown up front.
• Not a revolving line and not a long‑term solution. It’s meant to cover sudden expenses, then be repaid quickly.

Bottom line: Speed and simplicity come at a premium. Plan how you’ll exit on day one.

Who runs Hay Credito and where it sits in Spain’s market

• Legal entity: HAY CREDITO, S.L.U. (NIF B75702647), registered in Valencia (Trade Center I, Valencia, Spain). This is the brand owner and lender for the site.
• Compliance status: As with other micro‑credit lenders in Spain, Hay Credito operates under general consumer‑credit rules (e.g., Ley 16/2011, Ley 22/2007, TRLGDCU), and is not supervised like a deposit‑taking bank.
• Market peers: Vivus, Cashper, Wandoo, MyKredit, etc. Hay Credito’s standout elements are the short, fixed term up to 30 days, acceptance to consider applicants in ASNEF, fast automation, and Bizum support for repayments.

Product snapshot at a glance

• First‑time customers
  • Amount: €100–€500
  • Term: 5–30 days
  • Disbursement: to a Spanish bank account held by the borrower
• Returning customers
  • Amount: up to €1,500
  • Term: 5–30 days
• Decision speed: often ~15 minutes via automated scoring
• Repayment methods: Bank transfer, Bizum, automatic charge from the disbursement account (if authorized), or “Pay” in the customer area
• Extensions (“prórroga”): possible for a fee, at lender’s discretion
• Restructuring: can be offered case‑by‑case
• Right of withdrawal: 14 calendar days
• Collections & reporting: sustained default may be reported to ASNEF/EQUIFAX, etc.

The end‑to‑end process: how it actually works

A) Simulate & apply
Use the homepage slider to pick an amount and term (first‑time up to €500; repeat up to €1,500; 5–30 days). Click Apply and complete a short online form. Identity is verified digitally (DNI/NIE) and you’ll register an account tied to your Spanish mobile and email.

B) Automated decision
Hay Credito’s scoring engine evaluates income/affordability, existing obligations, credit history and financial reputation, and checks for other active applications or loans. It may consult risk databases (e.g., ASNEF and Badexcug) and employ fraud‑prevention providers. Many outcomes are decided in minutes.

C) Contract & signature
If approved, you receive the SECCI (pre‑contract disclosure) and the contract. You sign digitally in the customer area. The contract is stored in your account (durable medium) and also emailed.

D) Funding
The loan is transferred to your Spanish bank account. Depending on bank rails/cut‑offs, this can be same‑day—often minutes after acceptance (nights/weekends/holidays may push settlement to the next business day).

E) Repayment & options
Repay using bank transfer, Bizum, auto‑debit from the same account (if you granted authorization), or the Pay button in your account. You may prepay early (partial or full). If you foresee a delay, request a prórroga before the due date (fees apply). There’s also potential debt restructuring by additional agreement.

Eligibility & what the scoring looks for

Minimum requirements:

• 18+, legally resident in Spain
• Valid DNI or NIE
• Bank account at a Spanish bank (held in your name)
• Spanish mobile number and email

What the scoring weighs:

• Ability to pay, inferred from income level/stability versus requested amount and term
• Credit history & reputation, including entries in ASNEF/Badexcug
• Current exposure, such as active applications with other lenders and existing loans
• Fraud signals and identity consistency checks

Practical implication: small, short loans with clear payback capacity and clean recent behavior tend to score better.

Amounts, terms, and how to read the pricing

First‑time: €100–€500 for 5–30 days.
Returning: up to €1,500 for up to 30 days.

Representative example (from their website): A €100 first‑time loan for 30 days totals €153 to repay, corresponding to TAE ≈ 21,013.71% and TIN 438.00%. On a second loan (same €100/30 days), €162 is due (TAE ≈ 43,251.02%, TIN 547.5%). The numbers look extreme because they annualize a 30‑day horizon.

How to interpret TAE here: For micro‑loans, annualized rates explode because fees and interest are compressed into days. Focus on: 1) Total to repay, and 2) whether your next income cycle comfortably covers it. Still, TAE is useful for comparing lenders.

Early repayment: You may prepay (total or partial). The contract references statutory limits on any compensation (if applicable) and clarifies that interest/fees reflect actual time used.

Extensions & restructuring: An extension (prórroga) shifts the due date for a fee; restructuring may reschedule payment by additional agreement. Both are at the lender’s discretion—not guaranteed and, if used, increase overall cost.

Payments: methods & best practices

Available methods:

• Bank transfer (reference your loan number)
• Auto‑debit from the disbursement account (if you authorized it during the application)
• Bizum
• “Pay” button in the customer area (card/instant rails when available)

Tips:

• Even if you rely on auto‑debit, keep calendar reminders and a backup method (Bizum or transfer) ready for the same day.
• Transfers can be slower on nights/weekends/holidays; plan to fund the account one business day early.
• If a payment fails, act immediately via Bizum or the Pay function and confirm in your account.

What happens if you’re late

• Daily penalty: For a first loan, 2% per day of the outstanding principal; for repeat loans, 2.5% per day—both capped at 200% of principal.
• Collection fee: a one‑time 15% of the outstanding principal, charged on day 1 of delay, covering the lender’s collection costs.
• Escalation: reminders → internal collections → potential third‑party agencies → ASNEF/credit file reporting if 30+ days past due → potential legal action (monitorio) if unresolved.
• Extensions/Restructuring: If approved before default or soon after, these may halt further default accruals as per the new terms—but they increase total cost.

How to avoid trouble: Align due dates with salary inflows, monitor balance the day before, and if a hiccup is likely, request a prórroga early.

Privacy, security & your rights

• GDPR‑aligned privacy program with a named DPO contact. Data uses include identity verification, anti‑fraud, credit file checks (ASNEF/Badexcug), AML compliance, and automated decisioning with a right to human review.
• Cookies/analytics: consent banner and preference management.
• Card/instant rails payments are handled through secure environments.
• Data subject rights: access, rectification, erasure, restriction, portability, objection, and the right not to be subject only to automated decisions with significant effects.

Who Hay Credito suits (and who should avoid it)

A good fit if you:

• Need €100–€500 (first time) or up to €1,500 (repeat) for days, not months
• Want a fast, paper‑light process with same‑day funding to a Spanish bank account
• Value multiple repayment methods (transfer, Bizum, auto‑debit, Pay) and the possibility of a prórroga if absolutely needed

Avoid if you:

• Need longer than 30 days; consider an instalment loan, payroll advance from employer, or a payment plan with your provider instead
• Are juggling multiple debts or have volatile income—pause and seek debt advice first
• Expect low APR; micro‑credit is expensive when annualized

Practical checklist (copy/paste)

1. Borrow the minimum you require; simulate worst‑case payback date.
2. Screenshot the calculator result and download the SECCI and contract.
3. Set reminders: T‑2 days, T‑1 day, and day‑of; enable auto‑debit as backup.
4. Prefund your account one business day early.
5. If tight, request a prórroga before due date; choose the shortest workable option.
6. If late, pay something same day (Bizum/Pay) and contact support to discuss restructuring.
7. Do not chain micro‑loans. If you foresee repeated need, review your budget and alternatives.

FAQ

Pros & cons

Pros

• Very fast fully online process
• Multiple repayment rails (transfer, Bizum, auto‑debit, in‑app “Pay”)
• Short terms encourage quick exit
• Prórroga and restructuring as safety valves
• Considers ASNEF applicants case‑by‑case

Cons

• High annualized cost (TAE) by design
• Severe default charges if you miss the due date
• Short maximum term (30 days) may not fit some needs
• Extensions/restructuring increase total cost

Editorial verdict

Hay Credito does what micro‑credit is designed to do: deliver small amounts fast with minimal bureaucracy. The trade‑off is price and strict short terms. If you can repay from your next income, it’s pragmatic and convenient; if you can’t, costs mount quickly. Treat it as a one‑off bridge, not a habit.

Not financial advice. Borrow responsibly; if in doubt, consider payment plans with merchants, employer advances, or speaking with your bank before resorting to micro‑credit.