By now, loans are a matter of course, because very few families can afford larger purchases without credit. The banks, however, make the granting of loans to certain criteria. Through these, they estimate how creditworthy the customers are who apply for the loan. In professional circles this is called creditworthiness.

Credit criteria not met – and now?

Credit criteria not met - and now?

Not everyone can meet the credit criteria of the banks. Of course, one key point is the relationship between revenue and expenditure that interests banks. Furthermore, they collect information from the credit bureau. Negative entries very often lead to customers being classified as non-creditworthy and thus not receiving credit from the bank.

For those who do not meet the credit criteria, there is still a way to get paid. Many direct banks offer credit without credit rating. These non-credit loans are installment loans, but far more expensive than loans with credit ratings. The banks that lend these loans are at a higher risk that there may be difficulties in repaying the loans. Banks that are prepared to take this risk can pay for this willingness through higher interest rates.

However, despite the higher interest rates, it may be useful, for example, to balance a current account with a loan, because the cost of a longer overdraft on an account is, in most cases, significantly higher than the interest on a non-rated loan. So if you are in danger of losing your account, you should inquire about the possibility of such credit without credit rating and calculate the possibilities.

Credit intermediaries can help

If you are looking for a credit without credit rating, you should check the various offers carefully. Since these loans are in most cases only accessible via the Internet, loan seekers should resort to the help of a credit intermediary. They are familiar with the provider market and know which offers are legitimate and which offers customers should rather keep their hands off.

For laymen, the difference between good and bad offers is hard to see. If an institution requests a fee from an applicant for the exam alone, this may be taken as an indication that the offer is not legitimate.

Many foreign banks offer credit without credit rating. Neutral credit intermediaries not only offer their clients the best loan offerings for a credit-free loan, they can also help negotiate with the banks.

However, it should be remembered that even loans without credit are linked to a corresponding income. Recipients of social benefits also have a bad chance of obtaining a loan, even with the help of a credit intermediary.