New comparison platform launched to simplify personal credit research

A new free comparison platform has been launched to help consumers evaluate personal credit offers and understand their real costs. The tool, available at CréditoPessoal.pt, aims to reduce information asymmetry in the financial sector by consolidating data that is often scattered across multiple websites.

According to João Pereira, CEO of Gestlifes, the platform allows users to compare central elements such as the Total Annual Percentage Rate (TAEG), financing amounts, and payment terms side-by-side. To increase transparency, the tool also displays each financial institution's registration number with the Banco de Portugal and its reputation rating from the Portal da Queixa. The catalog is reviewed monthly by a specialized credit management team.

When seeking personal loans, experts advise consumers to focus on the Total Effective Cost (CET) and the actual net amount received rather than just the maximum limit offered. It is recommended to use official banking channels, verify companies through central bank lists, and remain vigilant against scams that demand upfront deposits or Pix transfers to ‘unlock’ funds.