A loan despite Credit Bureau entry is not a problem – here you can find loans without Credit Bureau information. At least, that’s how it sees Credit Bureau and its customers, who ask for information there. You can also apply for a loan without a credit report. A loan without Credit Bureau information represents a serious variant of financing with existing negative entries in the Credit Bureau register. The banks do not grant loans without Credit Bureau information.
Why is the credit without Credit Bureau always more expensive than a normal credit?
Classic loans – that is, well-defamed and creditworthy loans – are offered at a low interest rate. Why are the so-called Swiss loans, ie those without credit information, generally higher than this interest? The classic loan – i.e. the document you have taken from a house bank on the net or at home at your place of residence – provides information about your solvency and liquidity situation.
For this purpose, Credit Bureau is usually consulted, but it is not uncommon for the databases to be used by private credit agencies, for example when applying for a leasing vehicle. Depending on their creditworthiness and personal income, applicants often get loans on very different occasions. Different with the Swiss! With the so-called Swiss letter of credit without Credit Bureau, these databases are no longer in demand, so that the lender only has the result of the letter of credit as a backup.
For Swiss credit institutions,
The dangers of not being able to get any more money back due to the total default and therefore having to book it out are greater than initially thought. Note: Because of this increased risk alone, such credit products must be significantly more expensive than classic bank loans! Beware of credit card fraud! Don’t let any credit institution persuade you to believe that without Credit Bureau it could get you 4% of a loan; there are no such loans.
As a rule, such commitments are made by doubtful loan sharks to collect advance payments and cash on delivery. To what extent are these special loans without Credit Bureau much more complex? That is precisely what cannot be quantified in percentages, because this type of loan usually also offers other conditions. In general, it can be said that the loans with a higher risk potential have cost-effective interest rates between 10 and 14%.
In your current situation, you waive the loan and save over several weeks or years until you can have the purchase paid out in cash. The second cheapest option is to take out a loan without a credit agency and pay a little more interest than your bank, where you wouldn’t get a loan anyway.