Loan without Credit Bureau: reputable providers – do they exist?

Apply for a free, no-obligation online loan without Credit Bureau. Best bank is our recommendation for loans without Credit Bureau request and entry. The credit broker is considered the market leader for Credit Bureau-free loans in Germany.

Alternatively, we recommend Credit lenders. The financial service provider from Halle enjoys a high level of customer satisfaction and brokers a wide range of loans in addition to Credit Bureau-free loans. Both Best bank and Credit lenders, as reputable credit brokers, always try to get their customers a normal installment loan first. Unless the customer insists on a loan without Credit Bureau.

Both credit intermediaries can often help their customers with normal installment loans, even if their credit rating is down and there are negative entries in the Credit Bureau file. Loan brokerage is even possible, even though one or more banks have previously rejected the loan request. For details, see our article on loans despite negative Credit Bureau. Normal installment loans are usually much cheaper, and the lending process is easier and faster.

What does credit mean without Credit Bureau?

What does credit mean without Credit Bureau?

With a serious Credit Bureau-free loan, neither Credit Bureau nor any other German credit reporting agency is involved. No Credit Bureau information is therefore obtained as part of the lending procedure, and the lender does not report the lending to Credit Bureau either. Without Credit Bureau it does not mean without a credit check. In addition, a Credit Bureau-free loan is never possible without income.

The creditworthiness check is carried out on the basis of information on income and on previous liabilities. It also determines whether there are entries in official directories. This includes entries about affidavits, warrants and bankruptcy proceedings. A loan without Credit Bureau is only granted if the regular income is sufficient to repay the loan.

A Credit Bureau-free loan is not granted without security. However, security is limited to a silent assignment of wages. No further collateral is required and cannot be provided. Caution! The loan is only Credit Bureau-free as long as it is properly served. If there are disruptions in performance, the borrower does not pay on time and has to be reminded twice, an entry in the Credit Bureau file is the result.

Which bank grants credit without Credit Bureau?

Which bank grants credit without Credit Bureau?

The answer is simple: Credit Bureau-free loans are granted by Infra Bank from Liechtenstein. As far as can be seen, this is the only bank for the German market. German banks are required to determine score values ​​and other credit ratings by providing information to well-known credit agencies. For legal reasons alone, it is therefore not possible for you to grant loans without Credit Bureau.

This legal requirement does not apply to the bank from Liechtenstein. It can essentially limit itself to checking the material performance of its customers. Infra Bank only grants loans without Credit Bureau request and entry. No other loans are offered. An online application directly to the bank is easily possible.

In addition, almost all credit brokers active on the Internet deal with the provision of loans without Credit Bureau. For some credit intermediaries, this is the main business. It is highly likely that only the offers from Infra Bank will be brokered. So why should customers turn to a credit broker when they can contact the actual lender directly online? Here’s the answer:

If you are on a loan without Credit Bureau from the outset, i.e. small loans with fixed amounts of USD 3,500, USD 5,000 or USD 7,500, we recommend that you contact the Infra Bank directly. However, if you would like advice about your loan options beforehand and take the chance to get a normal loan, then you are in the right place with a credit broker.

However, some credit intermediaries charge agency fees in addition to interest. At Best bank, however, the brokerage fee is included in the effective interest rates.

Standardized credit terms

Standardized credit terms

Loans without Credit Bureau are small loans with fixed, standardized conditions. The conditions cannot be changed. This applies equally to loan amounts, terms and effective annual interest rates. Here are the details as of August 2017: 

The first installment is due the month after next after the contract is signed. The entire term of these Credit Bureau-free loans can therefore be up to 42 months. The loan can be repaid at any time without prepayment penalty.

Requirements for granting Credit Bureau-free loans

Requirements for granting Credit Bureau-free loans

The application requirements do not differ significantly from those for normal installment loans.

However, the range of borrowers that can be considered as an applicant is limited. The self-employed and pensioners are excluded from the start from the granting of standardized loans without Credit Bureau.

In detail:

  • A residence in Germany is required.
  • Borrowers aged between 18 and 60 are taken into account.
  • Applicants must be employees, workers or civil servants in a dependent permanent employment relationship.
  • The employment relationship may not be temporary, nor is a trial employment relationship sufficient.
  • You must have a checking account with a German bank. A cash payment as before has not been offered for a few years.
  • No serious Credit Bureau entries such as bankruptcy, affidavit or warrant.
  • Sufficient income after deducting pre-liabilities: A minimum income of 1,150 USD is assumed (for people without maintenance obligations).

How much you have to earn at least can be seen in the tables below. You can find the required information in your income statement (as of the end of 2016)

How many loans can you have without Credit Bureau?

How many loans can you have without Credit Bureau?

The credit check does not depend on the number of loans with or without Credit Bureau, but on the amount of the previous charges. If there is still financial “space” for an additional loan, nothing stands in the way of granting it. Whether a new loan can be granted without Credit Bureau, for example the loan can be increased from $ 3,500 to $ 5,000, will depend on a completely new credit check. However, the question of over-indebtedness can arise. Publications in the press often point to the risk of over-indebtedness with loans without Credit Bureau. The fact that there is a particular risk of over-indebtedness simply because the loan is free of Credit Bureau is relatively unlikely given the strict income check.

Every time a loan is taken out, borrowers have to ask themselves whether this will overstretch their financial situation. If a loan is taken out in order to pay the installments for another loan, this is a clear sign of over-indebtedness. In these cases, going to debt counseling is the right way, not taking out a loan without Credit Bureau.

This is how credit card fraud notification notifications work

The early detection of credit card fraud is the key to minimizing the damage a thief can do to your account. If your credit card is lost or stolen, your missing credit card will let you know that you need to contact your credit card company. Your creditors can cancel your account and issue a new credit card with a new account number to prevent fraudulent charges from being made to your account.

These days, thieves can steal your credit card information without ever touching your physical credit card, and even fraudulent charges to your account. These fees are more difficult to identify because your credit card is never lost. Real-time fraud alerts from your credit card company would alert you to suspicious activity on your account and give you the ability to contact your credit card company and stop further unauthorized charges.

 

Why plain credit monitoring is not enough?

credit loans

You have already signed up for credit monitoring service that says when information to your credit report has changed. However, this type of monitoring does not allow you to respond quickly enough to credit card fraud. This is because credit monitoring only alarms when suspicious account activity shows up on your credit report that cannot last for a few days or even weeks. This delay in notification makes it difficult for the scam to catch before it gets out of hand.

Plus, credit monitoring only warns you of changes in your credit report on how to increase a credit card balance. This high level reporting cannot be enough to let you know when your credit card account has been compromised.

 

How do I report credit card fraud alerts

How do I report credit card fraud alerts

Credit card fraud hurts credit card issuers as much – maybe even more – than consumers do. It only makes sense that credit card companies would offer more services to identify and report cardholders to help credit card fraud.

To find out if the issuer of your credit card fraud offers alert notifications, log into your online credit card account or call your credit card customer service (the number on the back of your credit card). You will follow these steps with each of your credit card companies.

Each credit card issuer’s website is different. Once you’ve logged into your account, look in the menu for a place to edit your profile or account settings. Then see the fraud reports your credit card issuer offers.

You may be able to receive notifications by email, text message, or a push notification at the top of your phone through the card issuer’s smartphone app.

Your credit card issuer will likely give you a few options for receiving the notification. You may be able to receive suspicious transaction warnings from credit card companies. Or you can get notifications for transactions over a certain amount you choose yourself, for example $ 10. Opting to receive notifications on a minimum transaction amount basis may cause your credit card issuer to catch fraudulent transactions. Your credit card issuer can only uncover fraud based on your typical spending habits. You know for sure if a transaction is fraudulent because you are the one with your credit card.

 

What to do if you receive a Fraud Alert notification?

credit Fraud Alert notification?

If you receive a fraud alert from your credit card company, log in to your online account or call the number on your credit card bank to contact a customer service representative to confirm or to refuse the fees. Do not use personal or credit card information via SMS. Do not click on links within the text message. And don’t call your customer service card about any number shown in the text message. This is important in the event the text message is a phishing scammer trying to get your personal information or credit card information.

Credit card fraud warnings are a free service offered by your credit card company. You will not be charged extra for the warnings. However, you are subject to any SMS charges or costs from your wireless service provider.

In addition to fraud alerts, your credit card issuer can send you alerts for other types of account activity, including: balance notifications, due dates, credit available, or missed payments. These messages can help you manage your credit card account more efficiently.

Of course, you should continue to monitor your credit card activity in your account regularly between billings and transaction review. You can never be too careful.

Apply for personal credit online.

As part of the online check, your request will be checked based on the information you have entered. Your request is Credit bureau-neutral, ie it serves the sole purpose of calculating a specific loan offer for you (interest rate, monthly rate, total costs). This non-binding loan offer will be reserved for you to submit for four weeks.

Which documents have to be submitted?

Which documents have to be submitted?

For final approval of your application, please enclose the documents according to your personal checklist. This is individually tailored to your situation. If original documents are not expressly requested therein, copies are sufficient. Originals will be returned immediately. Additional evidence may be required in individual cases.

What are the conditions at Capital lender?

You receive a fixed interest rate listed transparently at Capital lender. The conditions are neither dependent on creditworthiness nor dependent on the term.

Can I pay back early or make special payments?

You can repay the loan early at any time or repay your loan faster with special payments. This saves you interest and therefore cash. This is absolutely free of charge for you, as we currently do not use the statutory calculation of a prepayment penalty.

What personal data do I provide and when is it stored?

What personal data do I provide and when is it stored?

In the online check, we ask you to fill in information on the following topics so that we can check your loan request online: Name, address and contact details Current employment relationship (e.g. employer, address, date of entry, practiced profession) Net income and other income (e.g. mini-job, rental income , Maintenance, pension) Expenditures of the household (e.g. rent, financing, house and real estate) Bank account (required for the loan payment and the payment in installments) Your details are to be entered by yourself or by you and your co-applicant personally and will only be saved after your express consent. Of course, your data is subject to data protection and will only be used to process your credit request.

What can I do if I cannot print?

We would also be happy to send you the loan application by post. Please just give us a short feedback.

How can I protect myself and my family in an emergency?

How can I protect myself and my family in an emergency?

With our loan protection you protect yourself and your family against unemployment, inability to work and death that are not your fault. Simply select the protection you want in the online check. Do I have to take out loan protection? No, it is of course entirely up to you to make your decision; protection is always voluntary. We just want to draw your attention to possible risks and offer you a good and affordable solution.

Can I withdraw from the loan agreement?

You have a legal right of revocation. The cancellation period is 14 days. Requirements for a successful revocation: You repay the loan amount within this period and the revocation must be made in writing. In addition, you can repay your loan early at Capital lender at any time. This is absolutely free of charge for you, as we currently do not use the statutory calculation of a prepayment penalty.