Serious loan despite Credit Bureau entry
In colloquial language, the Credit Bureau entry denotes a negative feature. In fact, the Credit Bureau contains information about every inhabitant of Germany, but these are mostly neutral data such as current loans or existing account details. A credit is reputable if it is granted at fair interest rates and without calculation of impermissible costs.
The Credit Bureau entry does not necessarily make lending impossible
In spite of Credit Bureau entry, a serious loan is available from some banks if it is a soft negative feature and the applicant can demonstrate the interim improvement in his financial situation. If the factual requirements for applying for a promotional loan are met, a negative Credit Bureau entry with the exception of private bankruptcy registration expressly does not constitute an obstacle to the loan payment.
Despite Credit Bureau entry, a serious loan is easier to obtain than through a conventional commercial bank via a platform for arranging loans between private individuals. The lenders registered there receive a detailed description of the project to be financed and information on the creditworthiness of the loan seeker. Many of them deliberately grant loans to a loan-seeking platform member who finds it difficult to borrow from a traditional bank.
Despite the extensive information about the loan seeker, data protection is guaranteed because only the platform operator knows the contact details and bank details of the members and does not pass them on to either the private lender or the private borrower. If borrowers make use of existing credit lines again, a Credit Bureau entry that has been made in the meantime is usually irrelevant, since a new credit rating request is only made if they request an increase in the credit limit.
Switch to Swiss credit with Credit Bureau entry
As an alternative to domestic lenders, a serious loan can be taken out with a Swiss credit institution despite Credit Bureau entry. The federal bank has no access to the Credit Bureau data and checks the creditworthiness of the applicant using the current income data alone.
Credit Bureau-free Swiss credit is generally limited to $ 3500 for applications made directly through the bank; few banks allow loans of up to $ 5000. If there is a greater need for money, a serious loan can be taken out through a credit intermediary despite Credit Bureau’s entry in Switzerland. Credit customers can tell that they are working properly by the fact that they only have to pay an appropriate success commission and never have to pay upfront costs.