The advertising promises large numbers of chufa-free, serious loans. Nevertheless, the risk loan business offers a good opportunity for dubious providers. Borrowers who are looking for the loan without Credit Bureau are at least in a very tight financial situation. Every promise is gladly believed as long as there is only a chance of credit.
The borrower would like to have reliable, credit-free loans
The advertising promises what the customer wants. Everyone knows this strategy from TV advertising, newspaper advertising and the Internet. Tender hands from washing dishes or the whitest laundry ever can serve as examples. It is no different with advertising for the loan in all situations.
Credit Bureau-free, serious loans exist, there can be consensus. Yes, they are by no means hidden behind every advertising facade that advertises with them. The credit brokerage industry has been fighting against dubious “rip-offs” for years. Partial successes are undeniable. Hardly anyone dares to ask for additional costs. Anyone who receives his loan offer only against an upfront fee can assume a dubious offer. No reputable credit broker charges even a single cent upfront.
Many gray areas make it difficult to see through
The loan seeker already comes across the first gray area of the credit brokerage business with personal loans. One paragraph higher it was to be read that no reputable credit broker requires upfront costs. The two market leaders for serious personal loans initially surprise with a setting fee of 10 USD for an extremely short term. Are not Credit Bureau-free, serious loans from private donors possible? On the contrary, everyone who has tried a personal loan comes to this conclusion.
Not everyone gets the loan from private, but nobody can complain about unfairness or “rip-off”. Nowadays, this no longer works only with clumsy attempts to collect prepayment. Black sheep of the lending business, the reputable providers complicate the business work with covert methods.
What is serious and what is dubious
Basically, a loan without Credit Bureau always costs a little more. Risk premiums are inevitable. Additional credit insurance may also be required. The residual debt insurance covers the risk of unemployment and illness. The residual debt insurance is not included in the annual percentage rate and should therefore be shown in a comparable manner. This is the only way to determine a market-driven price.
Savings contracts and capital-forming insurance policies can increase creditworthiness. However, this only applies after a long deposit phase. A fresh savings contract does not increase the credit opportunities. It only serves the additional commission business of the credit provider or intermediary.
The offers for credit cards are to be assessed just as critically. Again, the credit opportunity doesn’t increase. It’s all about the commission gain on this offer. Providers who provide Credit Bureau-free but serious loans earn money from the successful lending business. You forego commission transactions that improve the supposed credit opportunities.