The loan seeker who has negative entries in his Credit Bureau is no longer as restricted in borrowing as it was years ago. Many providers in the financial market promise top conditions and quick availability of the money.
In the case of a loan without Credit Bureau information and no upfront costs, which is granted by many online banks as well as direct banks, a Credit Bureau query is not used, but no credit check is carried out. This credit check does not focus on the Credit Bureau information but on the income of the loan seeker. So that a loan seeker receives the best provider and an objective comparison to the many loan offers, he should strive for a loan comparison.
Pay attention to the seriousness of the loan brokerage
Especially in the case of a loan without Credit Bureau information without any preliminary costs, the borrower should pay attention to the interest level, as this is increased due to the high credit risk. When a credit comparison is started, the interest rates of the providers and the effective interest rate can be compared. The effective interest rate is the measure for the creditworthiness of the loan seeker as well as for the loan amount and the term.
However, there is still a lot to consider with a loan without Credit Bureau information without any upfront costs. This form of credit is usually processed through a credit agency. Unfortunately, there are a lot of black sheep on the Internet who charge shamelessly high preliminary costs without doing anything for it. A loan seeker certainly knows when he engages a credit broker that he has to be paid. But the preliminary costs should really only be quantified in the reimbursement of verifiable expenses. Should there be any cash on delivery or prepayment fees in horrendous amounts, you should definitely stay away from it. There are two to three large financial portals on the Internet that convey a loan without Credit Bureau information without any upfront costs.
A loan seeker should look around. Likewise, so-called additional contracts should not be used, such as residual debt insurance (unless they are really necessary), building society contracts or life insurance. A loan commitment that is dependent on such degrees is not permitted. In addition, the fees that a loan brokerage should only be due when the loan approval has been given.
Do a credit comparison before you take out the loan
Since a loan without Credit Bureau is always charged with high interest rates, as a loan seeker you should always carry out a loan comparison. The various providers are listed promptly and the interest level is displayed. The reliability of the providers is also shown in a credit comparison.