Why is the Credit Bureau-free loan an advantage and where can you apply for it? These are many questions that German consumers ask themselves. Most have heard of Swiss credit without Credit Bureau entry, but nobody knows anyone who has already used this loan. Because of the great interest, we have taken up the topic and are publishing the following article. Read on and you will find out what Swiss credit is without a Credit Bureau entry and whether it can be considered for you personally.
Why a loan without Credit Bureau can be advantageous
For banks and credit institutions based in Germany, the Credit Bureau procedure is part of every loan application, because nothing works without Credit Bureau information. This is not a problem for most loan applicants either, because their Credit Bureau is in order and they have nothing to hide. The Credit Bureau company does nothing more than collect and store credit-relevant data and pass it on to legitimate requests.
The contractual partners of Credit Bureau provide the data free of charge. In return, Credit Bureau will make the data collected about the consumers available to its contracting partners if the request is justified. In this way, the bank learns, for example, from the consumer whether he already has loans, how many there are and whether he is fulfilling the commitments made in accordance with the contract. This is no problem for 98 percent of all German consumers, because the information stored about them at Credit Bureau is in order. They also do not lead to loan rejection.
Special feature official loans and mortgage lending
A slightly different situation arises when consumers want larger loans to finance real estate or when civil servants and civil servants want to take out an official loan. In both cases, lenders typically require that existing credit obligations be demonstrably paid off. This can be a problem for some consumers if, for example, it is only a small loan that has been taken out for the purchase of consumer goods.
A Swiss loan without Credit Bureau entry can make sense to avoid this problem. If a loan is not registered with Credit Bureau as a current loan, the bank is not informed and it does not have to be redeemed. Swiss credit is therefore not just the optimal loan option for consumers who have bad credit. The Swiss loan is also perfect if the creditworthiness is impeccable and consumers only need a loan that other banks or credit institutions should not find out about.
The Credit Bureau-free loan is not just a loan from which no Credit Bureau is obtained. It is also a loan that is not reported to Credit Bureau as a current loan. For third parties, it appears that this loan does not exist. This is exactly what makes Swiss credit without Credit Bureau so interesting for many consumers.
Consumers who want their Credit Bureau to stay “clean” because they want to take out a larger loan shortly are right with the Swiss loan without Credit Bureau entry. However, it has to be said that this is only a small loan with an amount of 3,500 or 5,000 dollars, which can be applied for through a credit intermediary. The Credit Bureau-free loan is to be repaid in 40 months. With interest and fees that are due for the loan brokerage, 40 installments of around 100 dollars are then to be paid.