A installment loan is often used. This is because a installment loan is available for free and thus from the holiday trip to repairs, everything can be paid. Getting a installment loan is usually not a problem as long as the credit rating is rated as good by the banks. If the creditworthiness is not desired by the banks, a installment loan is often rejected. But this is not the end, because there are still opportunities to obtain a loan in the desired amount.

Lack of creditworthiness – Banks increasingly deny credit

Lack of creditworthiness - Banks increasingly deny credit

Credit applications are increasingly being rejected by banks. This can have several causes. It is clear that a installment loan without credit is not granted. Since all banks based in Germany conduct a credit bureau query, negative credit bureau entries automatically lead to the rejection of the loan application. But too little income can lead to banks rating the credit rating as bad. Another point is quite clear that some income is not considered income in the bank’s sense. For example, multijobbers have equally bad chances of having installment credit, as well as social security recipients, such as parental allowance. Accordingly, the level of income does not matter here, since the income is temporary and therefore not considered by the banks as income.

Credit despite missing credit rating

Credit despite missing credit rating

A credit line without a credit rating is usually given to credit intermediaries who work with banks that have their headquarters abroad. A credit without creditworthiness is also called Swiss Credit. This is because banks based in Switzerland are very active in this area and have discovered the German market relatively early. Today, consumers can conveniently apply for an installment credit without credit rating online. Even in difficult cases, reputable credit intermediaries often provide a cheap credit solution. A loan without a credit rating does not have to be really expensive and accordingly, this loan option is quite interesting if the installment loan application is rejected by the house bank or another German bank.

Comparison leads to favorable installment credit even without credit rating

Comparison leads to favorable installment credit even without credit rating

The best way to find a suitable loan installment loan is by online credit comparison. Only through a comparison does one get as a consumer the security of really getting a cheap loan. Even comparing is hardly possible with the large number of offers that are on the market. An online loan comparison can be used free of charge and without obligation and brings clarity quickly. Especially since here not only interest rates are mentioned, but the total cost of the loan is clearly visible, it is worthwhile to make a comparison. So consumers can make a decision based on the real cost and choose the offer, which is really cheap.