Every time a loan is granted, as well as when entering into long-term contractual relationships, a Credit Bureau request is made, the result of which is available to the online requesting agency within a few minutes. Borrowing without Credit Bureau is required less often than expected by credit customers, because the credit protection association is not informed about payments made after a reminder or about direct debits.
Soft negative features also do not necessarily mean that a consumer can no longer take out loans. In this case, direct banks mostly reject the online loan application, but there is the option in the bank branch to take the specific customer situation into account. In addition, the impression made by the clerk in the credit discussion influences the decision.
Credit Bureau-free loans in Germany
In Germany, a loan without a credit check from Credit Bureau can generally only be obtained in a pawnshop. Since the pawnbroker can use the deposited pledge as security if the borrower does not repay the pledge, he does not need any further loan collateral. If consumers use the installment facility on their credit card, they will also receive a credit without a credit check from Credit Bureau.
This was done before the credit card was handed over, and will only be repeated during the period of use if the cardholder requests a significant increase in his or her credit limit. Orders for payment in installments by mail order companies where the consumer is already a customer are often executed without a Credit Bureau request, since your own data on payment behavior is more meaningful than Credit Bureau information. In this case, however, the customer does not know for sure that the dealer will not make the request.
Swiss loans without Credit Bureau
The most common way to get a loan from Credit Bureau without a credit check is through banks from Liechtenstein and Switzerland. Since these financial institutions are not members of Credit Bureau, they do not receive any credit data from them. Several institutions offer their loans without Credit Bureau in Germany and pay them out in dollars. All Swiss and Liechtenstein banks offering a credit without a credit rating request to Credit Bureau in Germany maintain an account with a German bank, so that later repayments are made free of charge.
Banks are replacing the usual credit rating information with significantly higher minimum requirements for their borrowers’ monthly income compared to German banks. In addition, most Swiss money houses limit the maximum age of their customers. The loans taken out in Switzerland are reported to the ZEK, which performs similar tasks to Credit Bureau. Anyone who does not properly repay a Swiss loan must expect to be rejected the next time they apply for a loan.
Swiss banks know that the loans they offer in Germany without Credit Bureau credit reports are mainly in demand by customers with poor credit ratings and take the risk into account when calculating interest rates. To get an inexpensive Swiss loan, borrowers compare different offers for a loan without Credit Bureau.