Credit without Credit Bureau information is a foreign bank loan of 3,500 USD or 5,000 USD net loan amount. (Planned 7,500 USD / as of May 2016). There are clear rules for lending. Only applicants who meet all requirements have a secure credit opportunity.
We do not want you to rush from agent to agent, always hoping for a Credit Bureau-free loan. The aim of our information is that you can see for yourself whether a loan without Credit Bureau is possible or not.
This saves you from setbacks and the risk of falling prey to dubious providers.
Credit without Credit Bureau information – no housewife credit
In the public opinion, the media often tear up Credit Bureau-free financing from abroad. A lot is promised, nothing is kept, this is how the conclusion of the media can be summarized. The real scandals are not the fault of the bank that actually offers the loan without Credit Bureau information. Negligent intermediaries have discredited this alternative loan.
In fact, unsustainable promises are often made in advertising. They are true and at the same time unsustainable, because half sentences are used. Everyone knows the quick loan promises that even a good credit rating would not be kept by a regular bank. Or the promise of credit without a credit check. If the part of the sentence is missing – due to Credit Bureau – it sounds like a real “everyone’s credit without credit rating”.
The actual promise for a loan without Credit Bureau information is only to refrain from making a Credit Bureau request for the credit check. In addition, the bank does not promise to report an approved loan to Credit Bureau, provided the installments are paid on time. If this statement is compared to the advertising slogans, it is no wonder that the media always pounce on the topic.
Loan application without Credit Bureau – how does it work?
Germans can get Credit Bureau-free credit from abroad at a bank that has been approved by the Bafin (banking supervision). In addition, the credit institution may not have a representative in Germany. As far as is known, only one bank fulfills all legal requirements. The legal loan without Credit Bureau information from a foreign bank thus comes from Lite Bank from Liechtenstein.
The application may be made through an intermediary or directly. Excluding the mediator brings more disadvantages than advantages. The bank pays the brokerage fee directly to the broker, without the broker it does not have to pay. Therefore, it will not be cheaper for the borrower. The direct application is made using the Post-ID procedure, for which the applicant bears the costs.
Who can apply?
Applicants must be at least 18 years old. The application will expire on the day of your 60th birthday. Only employee loans are approved. Eligible only for income subject to social security contributions. Self-employed, freelance applicants or unemployed are not permitted. The same applies to housewives without their own income above the garnishment limit.
Credit requirements – who can a loan be approved for?
Only people who can prove their creditworthiness in the individual case check can hope for a Credit Bureau-free loan. – Only the Credit Bureau remains excluded. The linchpin of lending is the job. Evidence of an unlimited, non-terminated employment contract outside the probationary period. For a loan of 3,500 USD, it must have existed for at least 12 months, and a net loan of 5,000 USD for at least 36 months.
The applicant must also be healthy and fully capable of working. His income from work must be above the garnishment limit (see table) and must not be seized. It would also be inadmissible for the employer to assign wages. In the case of a loan without Credit Bureau information, the creditworthiness is also checked via the debtor register of the local court. It must be free of entries.
Old credit debt is not a fundamental problem, but the debt must be in a reasonable relation to income. The actual net income depends on the number of dependents.
Income table for the loan without Credit Bureau information
3,500 USD credit without Credit Bureau:
0 dependent persons = minimum income of 1,130 USD net.
1 dependent person = minimum income 1,560 USD net.
2 dependent persons = minimum income 1,830 USD net.
3 dependent persons = minimum net income of 2,130 USD.
4 dependent persons = minimum income 2,500 USD net.
5 dependent persons = individual examination.
5,000 USD credit without Credit Bureau:
0 dependent persons = minimum income 1,600 USD net.
1 dependent person = minimum income 1,900 USD net.
2 dependent persons = minimum income 2,250 USD net.
3 dependent persons = minimum income 2,550 USD net.
4 dependent persons = minimum income 3,200 USD net.
5 dependents = not provided.
Conclusion – credit without Credit Bureau information
The information given comes directly from first hand. Interested parties can now seriously check for themselves whether a real credit opportunity exists. Financing Credit Bureau-free is not a gamble with the complete information. There is no room for negotiation if one of the required conditions is not met.
Nevertheless, we recommend that you apply for the loan without Credit Bureau through an intermediary. The credit bank pays for his work. His serious credit check could reveal weaknesses that are not visible at first glance.
Do not get involved in possible additional offers. Every additional insurance, every savings contract, noticeably reduces your credit opportunities. If you meet all the requirements as a borrower, your loan without Credit Bureau information is actually within reach. You don’t owe the agent a favor.