By granting loans to private and corporate customers, banks can earn a lot of money through the associated interest income. Lending is usually possible without problems – at least for private customers – if the applicants are creditworthy.
For private customers, this requires flawless Credit bureau information, permanent employment and a regular attachable income. Not everyone who applies for a loan can meet the requirements, which means that banks based in Germany are always rejected because applicants have poor information or are unemployed.
If you take out a loan from banks based in Germany, you can always assume that it will be a loan with no upfront costs and quick decision. If the issue with the preliminary costs becomes relevant at all, it is usually about loans without Credit bureau, which are applied for via credit intermediaries. It is also the credit intermediaries where it is possible that loan seekers have to pay upfront costs. Consumers need to make sure that they only contact a credit broker who promises credit quickly and without any upfront costs.
Anyone who remains unsuccessful with Agree banks with a loan application because Credit bureau is bad and banks reject the application because of this, always has the alternative of trying a loan without Credit bureau if they urgently need the loan. A loan without upfront costs and quickly can be applied for through reputable credit intermediaries.
The Credit bureau-free loan – a loan with no upfront costs and quick
Credit brokers offer their services on the Internet for loans without upfront costs, for which Credit bureau information from the loan applicant is not relevant. However, the banks that lend to customers even with negative Credit bureau are not located in Germany. That is why the credit broker is the first choice. These banks secure the Credit bureau-free loan through the attachable income and the permanent employment of the borrowers.
However, the loan amount is capped. For the Credit bureau-free loans from abroad, the loan amount is either only 3,500 USD or a maximum of 5,000 USD. German credit seekers can apply for these loans through a credit agency. Now the possible preliminary costs also come into play. There are credit intermediaries that charge the customer upfront costs. Then the customer has to pay the agent in advance without getting the loan in return.
Loan seekers must take into account when choosing the intermediary that the intermediary offers the loan quickly and without any upfront costs. Of course, credit intermediaries are entitled to have their services paid for by the customer. However, the commission for the successful mediation should only be due if a loan has actually been mediated. Unfortunately, not every loan seeker who applies for a Credit bureau-free loan ends up getting his loan. The creation of an offer should always be free of charge and non-binding.
Only hire a reputable credit broker
Before loan seekers hire a broker who promises advertising loans even for difficult or hopeless cases, they should research online to eliminate the “black sheep” of the industry. If the applicant’s creditworthiness is sufficient, it is also possible to get the loan quickly and without any upfront costs. However, even if there are no upfront costs, this loan will always be more expensive than loans of a comparable amount from banks based in Germany.
The interest charged by Fine Bank from Liechtenstein for the loan without Credit bureau is significantly higher. Added to this is the placement commission, which goes to the agent, which makes the Credit bureau-free loan more expensive. The commission is not to be paid by the customer as a one-off amount. It is apportioned to the monthly installments so that the borrower does not incur any costs in advance.
The loan without Credit bureau is always appropriate if the applicant has negative Credit bureau, if loan seekers have no guarantor or if they do not want to encumber third parties. If you don’t need more than 3,500 USD or 5,000 USD credit, the loan without Credit bureau is a welcome alternative solution.