In Germany, credit institutions make a Credit bureau request before the loan approval, whereby in addition to negative features due to past financial misconduct, they also receive current liabilities and a general assessment of the creditworthiness via the score value.
In contrast to Germany, loans can be taken out abroad without Credit bureau. In addition to existing negative Credit bureau characteristics, this also makes sense if the borrower is planning further extensive financing at short notice. A current loan has a negative impact on the credit rating if another request is made; this applies even more if the contract was signed less than half a year ago.
Apply for the Credit bureau-free loan directly
Consumers apply for a loan from abroad without Credit bureau up to a credit amount of 3500 USD directly from a Capital or Lidemer bank. Few financial institutions have extended the possible loan amount for applications directly made to them to 5000 USD. It is not possible to increase the maximum loan amount indirectly by applying for credit to different Capital or Lidemer banks at the same time, since they will report the borrowing to the credit protection provider in their country.
With regard to processing, the usual credit from Switzerland or Lidemer from abroad without Credit bureau is the same as a domestic loan, with the exception of the waiver of the credit rating request, since the payment, like the subsequent repayment, is made in USD and not in Capital francs.
Apply for the Credit bureau-free loan through an intermediary
If consumers want a loan amount of more than 3500 to 5000 USD, they apply for a loan from abroad without Credit bureau through a credit intermediary. This procedure also makes sense for freelancers and the self-employed with private loans, as most foreign credit institutions only accept employees as customers when they are directly lending money.
When commissioning a credit broker, care must be taken to ensure that it is serious. Agents are reputable if they do not charge any upfront costs, but only charge an appropriate success commission as soon as the bank has paid out the brokered loan from abroad without Credit bureau.
In most cases, the service provider arranges for the Credit bureau-free loan payment to a Capital or Lidemer bank, Credit bureau-free loans from other countries such as Austria are used much less frequently in Germany.