image by vi don on pixabay
Beware of dubious providers of credit without schufa
Our topics for you:
How to recognize dubious credit providers without schufa
- Commission must be paid before the contract is concluded, even if no loan is granted at all
- Interest is not given per year, but per month
- annual interest rate, which can be more than 20 percent
- you are required to take out various insurances such as residual debt insurance, credit insurance, unemployment insurance or life insurance
- Disproportionately high collateral is required.
- Other features of dubious providers can be a telephone hotline with high costs or a fee-based insolvency consultation.
What is the swiss loan all about??
If you are looking for a credit without schufa on the internet, you will more often come across the term swiss credit. It is a loan without schufa. It is often referred to as a swiss loan, as the loan brokers often work together with banks in switzerland. Banks are not always actually located in switzerland. The banks often have their headquarters in Liechtenstein or Luxembourg. However, the term swiss credit has been used for a long time.
Reputable providers of credit without schufa
A credit without schufa you cannot apply to a bank in germany. The application is possible only through credit intermediaries. If a commission is charged, this does not mean that it is a dubious provider. Since the providers mediate a credit, a mediation commission is lawful. However, it is not disproportionately high and is only collected if a credit is actually arranged.
How high the commission is, depends on the provider. It makes up only a small percentage of the loan amount. It is not explicitly collected, but is included in the effective interest rate.
Reputable brokers of credit without credit history are
credit free mini-loans with a small amount of less than 1.000 euros can also be applied for with so-called microfinance service providers such as vexcash, ferratum or cashper (see mini loans).
Conditions for the credit without schufa
Loans without schufa can be applied for with different loan amounts and maturities. At reputable intermediaries are the loan amounts to 7.500 euro limited. However, they are not useful if you have a negative schufa entry. You should apply for the credit amount only as small as possible. Also long terms up to 10 years are possible.
The interest rates for a credit without a credit history are of interest. They are also somewhat higher with reputable providers than with normal loans with schufa information. As with loans with schufa, a distinction is made between target interest rate and effective interest rate differentiated. The target interest rate includes only the pure costs for the provision of the loan. The effective interest rate includes additional costs. These costs include the brokerage commission. the difference between the target interest rate and the effective interest rate should be as small as possible.
Creditolo works together with sigma-bank, which is based in liechtenstein and regulated by the financial supervisory authority of liechtenstein. The effective interest rate is more than 11 percent per year. Depending on creditworthiness, interest rates can be even higher.
Information about the banks with which bon-kredit and maxda cooperate is not available. Interest is charged depending on the creditworthiness of the applicant. According to information, the effective annual interest rate there ranges from just under 4 percent up to approx. 16 percent.
Interest rates of 14 percent or more are not uncommon with microfinance service providers such as vexcash and cashper. The interest rates are extraordinarily high even if you only apply for a loan amount of less than 500 euros and repay the loan in one sum within 30 days.
Collateral for the loan without schufa
Even if no schufa information is obtained, special securities are required for a credit without schufa:
- Income in a minimum amount of
- Unlimited employment relationship, which has existed for at least six months and is no longer in the probationary period.
As a rule, the net income should be at least 1.200 euro lie. However, the credit rating also depends on what expenses you have in each month. The minimum income for credit without credit history is somewhat higher than for loans with credit history.
additional security can be provided by life insurance, fixed-term deposits or a home of your own. The reputable brokers do not require you to take out a residual debt insurance policy or life insurance policy.
If you are unable to provide the required collateral yourself, you have the option of signing the application together with a second applicant or providing a guarantor who can provide the required collateral.
What to do with hartz IV?
If you are receiving Hartz IV benefits and urgently need money, you should not apply for a credit without schufa under any circumstances. Providers who advertise a credit without schufa, even for hartz IV recipients, are always dubious.
Serious providers do not arrange loans without schufa to hartz IV recipients. Inevitably, such a loan would lead deeper and deeper into the debt trap. Even if you can provide a guarantor with the appropriate collateral, you should refrain from taking out a loan without schufa if you are receiving Hartz IV.
Maxda or bon-kredit – which intermediary is better??
The conditions for the credit without schufa are similar at maxda and at bon-kredit. The credit amount is limited to a maximum of 7 % with both providers.500 euro limited. Even with a high income, no higher loan amount is granted with a credit without schufa.
Bon-kredit grants loans without schufa with sums of 3.500 euro, 5.000 euro and 7.500 euro. For all three credit amounts, the term is 40 months.
The minimum amount for the credit without schufa at maxda is 3.000 euro. Terms of up to 120 months can be selected. The applicant can specify the desired term of the loan. Maxda checks whether the term is possible.
maxda and bon-kredit do not differ in terms of interest rates. The minimum duration of the employment relationship as security depends on the loan amount with bon-kredit. It must be paid for a credit amount of 3.500 euro exist for at least 12 months, while for a credit amount of 7.500 euro even a duration of the employment relationship of at least 48 months is required.
Up to what age can I get a loan without schufa??
the maximum age for the credit without schufa is 60 years at maxda and 62 years at bon-kredit.
Due to the similar conditions, it is difficult to say which of the two providers is better. With both providers, you can make a serious credit request without any thanks.
Check your own schufa score before applying for a loan
Before you finally decide on a loan without schufa, you should check your own schufa score. This is possible directly with schufa. once a year you are entitled to a free schufa report. Directly on the website of schufa you can apply for your schufa information. To obtain a free credit report, proceed as follows:
- Visit the schufa website
- Click on "private customers" in the upper section of the website
- Click on "information
- "click on "data copy.
The free schufa report contains information about your schufa score. you can also see all the collected data and their sources. you can check whether all entries are justified. You can have an unauthorized entry deleted.
you can obtain even more comprehensive information about your schufa score by requesting a credit report for which a fee is charged. It costs just under 30 euros and contains a basic score as well as a table with individual score values.
Which schufa score is good? 97, 95 or 90?
A basic score of 97 percent is very good for the granting of credit. A basic score of up to 90 percent is satisfactory. With a basic score below 90 percent, there is already an increased risk. If the base score is 50 percent, it may be difficult to get a loan. The bank decides whether a loan can ultimately be granted. In addition to the schufa score, the credit amount, income and current expenses of the applicant also play a role.
Uses for loans without schufa
Due to the high interest rates and the risk of overindebtedness, you should have a apply for credit without schufa only in emergencies. As a rule, this is a financial bottleneck. As the credit amount with reputable intermediaries is limited to 7.500 euro is limited, such a loan can hardly be used for larger expenses such as a car. Only for a used car or a small car such a sum is suitable.
To be debt-free again quickly, you should apply for the credit amount as low as possible. If possible, you should only use the minimum loan amount of 3.000 euro respectively. 3.claim 500 euro.
How long does the disbursement take with a credit without schufa?
If you apply for a loan without schufa, you can submit the application online. You must submit the necessary documents for the credit check:
- Bank statements from the last three months
- Certificate of the employer about unlimited employment relationship
- proof of income.
A schufa report is not obtained. The intermediary checks your creditworthiness and makes inquiries with the banks with which he works. This takes about 24 to 72 hours. You will first receive an offer. If you agree with this offer, the application will be forwarded to the lender.
So you can expect about 7 – 14 days from application to disbursement.
It works faster with the disbursement at a microfinance service provider. There, the express payment can be made on the same day. However, a surcharge is levied for this, which is approx. 30 euro can lie.
Effects of a credit-free loan on the schufa score
If you apply for a loan without schufa, no schufa information is obtained. schufa is also not informed about the granting of credit, if you are granted a credit without credit history.
Even if you have been granted a loan without schufa, schufa can still find out about the loan. This is done when you can no longer pay the installments. If you default on your repayment, you will receive a reminder. A court order for payment is announced.
The data is passed on to schufa via courts and debtor registers, even if the bank or intermediary does not report the payment arrears to schufa. this worsens your schufa score.
If you are unable to repay your loan, you will receive a seizure order. Since their wages or salary is seized, the employer also learns about it.
Alternatives to credit without schufa
You should check whether you really need the credit without schufa. Before you apply for the credit without schufa, you should try the normal credit with schufa. Many customers underestimate their own creditworthiness and look directly for credit without a credit history, although they can obtain normal installment loans.
If the application for the credit free loan is rejected, you can still try it with a loan through a credit marketplace. Such credit marketplaces are smava and auxmoney. You must submit a credit application with the desired loan amount, the term and the intended use. Private individuals who are willing to grant a loan come forward. These private individuals grant a credit in order to receive attractive interest rates for it. As a result, the interest rates are significantly higher than those charged by banks.
you can also ask friends or relatives to lend you money.
If you are in debt and in financial difficulties, you should contact a debt counseling service. Church institutions such as caritas also offer debtor counseling.
Conclusion: apply for credit without schufa only in emergencies
Some reputable providers such as bon-kredit and maxda grant a credit without schufa. Interest rates can be as high as 16 percent. You must be able to prove a permanent employment relationship and a minimum income, so that a loan is granted. Due to the risk of over-indebtedness and the high interest rates, you should only apply for a loan without schufa in emergencies. Before you should obtain a self-disclosure from schufa.
- Who writes here?
- Further contributions:
Gregor Zmuda studied business administration at the Justus Liebig University in Giessen and graduated with a degree in business administration in 2008. Since studying economics, he has been intensively involved with finance and founded the kreditmagazin in 2020. Besides it operates further specialized portals from the range finances& insurances and objectively informs consumers about various advantages and disadvantages of respective products.