A loan comparison is always worthwhile. Seeing a loan with no creditworthiness compared to other loans without Credit Bureau could reduce costs and interest. The article explains why no credit comparison calculator offers loans without a credit check at Credit Bureau.

Credit without credit rating – comparison

Credit without credit rating - comparison

Only by using a credit comparison can transparent credit offers be found at exceptionally low interest rates. Anyone who has ever applied for a “normal online loan” knows and appreciates the advantages of a credit comparison calculator. Unfortunately, it is not so easy to evaluate the offers for a loan without a credit rating. If you search intensively, you will at most find an often sonorous name as the test winner. The possibility of taking a detailed look at the various loan offers of direct providers is denied. Only the test winner, who can of course be used via the offer, is displayed.

A serious test winner in credit comparison without Credit Bureau offers a loan amount of 3,500 USD or 5,000 USD. That is certain, because the loan without Credit Bureau is only offered for these two loan amounts in a serious and legal manner. (As of 04.10.2013). It does not matter which credit broker crowns its offer as the test winner. If the award-winning offer you discovered contains other data, then it is not a bank loan offer approved in Germany.

Credit comparison without Credit Bureau

Credit comparison without Credit Bureau

The possibilities of comparing a loan without a credit rating are very limited. In 2008, numerous direct providers of Credit Bureau-free loans vied for the favor of borrowers. Credit providers from Ireland, Spain, Switzerland and Cyprus also offered credit options without extensive credit checks.

Already in 2009 these offers were practically swept off the market. The final judgment of the Federal Administrative Court (Az. 8 C 2.09) of April 22, 2009 put a final point under the loan without Credit Bureau The last active credit provider, Lite Bank from Switzerland, was prohibited from doing business in Germany.

Only since 2010 has there been a single legal credit option for Germany to take up Credit Bureau-free abroad. The numerous reputable offers from credit intermediaries relate to the offer of a Liechtenstein bank. At the moment, the Infra Bank does not offer any special loan offers through certain credit intermediaries. All offers are based on the same tariff. A loan comparison that only includes one loan provider is understandably superfluous.

Credit conditions without Credit Bureau

Credit conditions without Credit Bureau

The basis for lending is always an open-ended employment contract. Proof of creditworthiness is provided via the last two salary slips and the associated bank statements. The loan is secured without Credit Bureau through a certified transfer of income. The term is offered exclusively for 40 months.

A loan amount of 3,500 USD is offered at an effective annual interest rate of 11.62 percent. The net working income for a single person must be at least 1,130 USD to qualify for the offer. The second loan amount is 5,000 USD. The annual percentage rate for this offer is 11.61 percent. The net labor income required for qualification should be at least 1,600 USD.

Comparing a loan without a credit rating makes sense again when there are more legal direct providers on the market.

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