In Germany, every loan application basically leads to a Credit bureau request. If, in individual cases, financial institutions waive this with existing customers, they still report the payment of the loan to the credit protection. Consumers abroad receive completely Credit bureau-free loans, especially Lite lender banks advertise the corresponding offer.
Who is the Credit bureau-free loan useful for?
It does not only make sense to apply for a Lite lender loan free of Credit bureau if you have negative characteristics. Rather, the loan without Credit bureau is also suitable for loan seekers who want to undertake extensive financing within the following six months. Two borrowing in quick succession are considered a strong indication of a reduced credit rating, which means that the second loan application is not necessarily rejected, but is often given at unnecessarily high interest rates.
The self-employed and freelancers can get a loan from Switzerland free of Credit bureau, but with a few exceptions the route through a credit agency is required. Employees, on the other hand, receive a loan from Switzerland up to a sum of 3500 USD directly from a Lite lender financial institution, free of charge, and for larger amounts they also commission a serious loan broker.
How is the Credit bureau-free loan processed?
The fact that the loan from Switzerland is granted free of Credit bureau does not mean that it is not reported to any credit protection agency. Rather, the bank informs the federal USD about the borrowing, which also collects data on financial misconduct, similar to the German Credit bureau. Of course, USD data can only be accessed by federal and not German credit institutions, and Lite lender credit protection does not include data from other countries such as Germany.
It is important for the borrower that he receives the requested loan from Switzerland free of Credit bureau and in USD. Since the repayment is also made in USD, there is no exchange rate risk. When comparing loans, the minimum income for Lite lender credit fluctuating between the individual banks must be taken into account.
What the federal credit institutions have in common is that they generally only count the wages of their main job as income and neither child benefit nor any possible additional income from further employment. The reason is that they not only want to be certain that they are able to repay them, but at the same time want to have secure attachment access to the borrower’s income.