Comparing a loan without a Credit Bureau query makes it difficult for loan comparison portals. There seem to be no neutral comparison offers. The article will inform you about the comparison options available for Credit Bureau-free loan offers.
Credit without Credit Bureau query – comparison of offers
The possibilities for a loan without Credit Bureau request are widely advertised. Neither direct credit providers nor neutral comparison portals are hidden behind the advertisements. The question arises why nobody – neutral – puts a loan online without a Credit Bureau query – comparison or comparison calculator. People who are looking for a loan without Credit Bureau query are almost always dependent on any savings option. A direct comparison of Credit Bureau-free loans would specifically lead to the bank that offers a suitable offer for the individual creditworthiness situation.
The help through real comparison options, such as a credit comparison calculator that lists all eligible credit institutions, is still sought in vain. Ranking lists can be found, which then declare a credit broker as the cheapest provider. Unfortunately, these lists also do not provide any comprehensible information about serious alternatives or even real credit institutions.
The reason for the secrecy is very simple. The market for Credit Bureau-free loans was rendered practically provider-free in 2009 by a judge’s decision. The court prohibited the largest loan provider for Credit Bureau-free loans from doing business in Germany. As far as is understandable, the competition was also affected by the judgment. All credit providers for Swiss loans without Credit Bureau ceased operations in Germany. Only since 2010 has there been a credit bank again, as far as is known, the only one that can legally offer Credit Bureau-free credit solutions for Germans.
In the case of a legal provider, to which all reputable credit intermediaries relate as far as possible, the possibility of comparing providers is excluded.
Credit without Credit Bureau query – Sigma credit bank or intermediary?
A loan without Credit Bureau query in the comparison of offers could only be serious between the direct offer and a credit broker. The winner of this price comparison would be determined from the start. It doesn’t get any cheaper or faster than applying directly to the credit bank. According to Fine Bank from Liechtenstein, all credit inquiries are treated equally. There are no special conditions for submitting an application through a specific credit broker. (Source telephone service).
The only reason that can be applied for a legal Liechtenstein loan through an intermediary is convenience. Credit brokers can score with numerous service options, such as an online loan application or a preliminary credit check. Only the loan application and information material can be downloaded from the bank’s homepage.
Credit check for Credit Bureau-free loans
Is a loan without a Credit Bureau query, compared to a normal loan, a loan without a credit check? Many prospective creditors ask themselves this question. No, there is no loan without a credit check. In the case of a loan without Credit Bureau, the creditworthiness is only checked differently. The Credit Bureau remains completely excluded. The employment relationship is first checked. Only employees subject to social security can qualify for a Credit Bureau-free loan solution. In addition, the employment relationship must exist for at least 12 months. The contract must not be limited.
The amount of the net working income for 3,500 USD credit without Credit Bureau must exceed the individual garnishment exemption limit by at least 80 USD. Labor income may not be attached or ceded. It serves as the only credit protection for the loan. In addition, the public debt register is viewed to check the creditworthiness. Entries, such as the taking of the affidavit, are a knockout criterion for lending.
Credit conditions – without Credit Bureau direct loan application
In principle, a legal loan without Credit Bureau from Liechtenstein is only offered in two loan amounts. It is possible to pay 3,500 USD at the APR of 11.62 percent or 5,000 USD at the APR of 11.61 percent. Repayment is always made in 40 equal monthly installments. The monthly installment for a 3,500 USD loan is 105.95 USD, for the larger loan amount it is 151.35 USD.
Conclusion: comparison of credit without Credit Bureau query
A real loan comparison, as offered by a loan comparison calculator, is not possible with a loan without Credit Bureau. As far as all research proves, currently only one provider may legally grant loans to Germany.
Ranking lists that come closest to a loan without a Credit Bureau query compare, if at all, only the conditions of the credit intermediaries. Those interested in credit who are concerned not with convenience but with price are better off with the direct provider. On average, direct application for a loan from Fine Bank can save about USD 100 in agency fees.