Withdrawing from the control of credit protection systems with credit without Credit Bureau can have positive and negative consequences. It is not forbidden to oppose the “omnipotence” of Credit Bureau. In the eyes of most citizens, Credit Bureau sniffs too much in personal data anyway. Surrendering Credit Bureau rarely brings financial benefits. Credit Bureau-free loans are usually significantly more expensive than loans that include Credit Bureau.
Credit without Credit Bureau, undermining the control of the system
The credit without Credit Bureau is intended to undermine the control of the credit system. In exceptional cases, the result of this procedure can even be an interest gain. Choosing a loan that is not registered with Credit Bureau can pay off for “home builders”. With every loan, the credit rating decreases.
When building a house, the proven equity component and ongoing loan commitments are decisive for the interest rate. With a high level of financing, every small interest rate deviation is important. In the crucial phase, as is so often the case in life, something goes wrong. For example, the car has to be laboriously repaired.
The repair costs could be offset by the savings, but the equity base must not be touched. A small loan, which would alternatively be possible, is entered in the Credit Bureau. Therefore, he increases the possible interest rate for the construction project. The solution to the problem is a small loan without Credit Bureau, the additional costs for the credit broker and the higher interest rates for the Swiss loan are saved again by more favorable conditions for the building loan.
Damaging negative Credit Bureau entries for ineffectiveness
Many people who have a negative Credit Bureau entry would like to be under the control of the system with the loan without Credit Bureau. However, this loan financing option cannot be used without risk and free of charge. Everything looks rosy in credit advertising.
A Swiss loan without a credit check and even during ongoing bankruptcy is promised. It must be said very clearly about these offers that the chance of their approval is close to zero. On the other hand, the risk of getting into a dubious mediator is high.
The business with the hope of a loan is at least as lucrative as the lending business itself. Instead of a credit agency, dubious brokers earn on dubious preliminary costs and commission transactions. To “improve” the credit outlook, a savings contract, a real credit card or life insurance is sold.
Consider borrowing costs
Loan without Credit Bureau to undermine the control of the system sounds like self-determination and freedom. Nevertheless, the additional costs for this freedom must not be completely ignored.
A reputable broker does not require any upfront costs or prepayment, but the success commission earned makes the loan more expensive. An additional cost driver is the often required residual debt insurance. All in all, the personal credit decision should be carefully considered, for cost reasons alone.