Obtaining a loan despite Credit Bureau is possible

In most cases there are some additional hurdles that have to be overcome by the borrower. For banks, loans serve as a kind of investment, where they always try to make a profit on the loan.

Borrower’s creditworthiness


For this to work in the long term, the risk of default on the part of the bank must be minimized, which is why loans are only released if the borrower has a sufficiently high creditworthiness or credit rating. Credit Bureau is an important criterion in Germany because it gathers various factors in a large file and then forms an independent Credit Bureau value, which shows the borrower’s creditworthiness.

If this is only minimally reduced, this is hardly a problem, but as soon as it has been reduced relatively sharply or even falls well below 50 percent, there is generally no longer any creditworthiness, which is why no credit is then paid out. In order for you to be able to obtain a loan despite Credit Bureau, the bank must then be offered additional collateral. These types of collateral can be of many layers, a popular option is to set up a citizen, and attachable assets are also accepted.

More security for getting a loan

More security for getting a loan

Your own Credit Bureau entry can be requested from Credit Bureau once a year free of charge. In this way, you can make sure whether and how much your rating has been reduced before you take out the loan. Keep in mind that Credit Bureau often even uses a non-binding loan request as a reason to lower the credit rating, which is why a constant overview can be worthwhile if the Credit Bureau score is unjustifiably reduced. You could then have these entries removed manually after request. However, if the rating in the Credit Bureau is justified, there must be at least a regular income in order to have any chance of getting a loan.

A co-applicant and / or guarantor who also has a regular income and a good Credit Bureau rating increases the chances of a positive application enormously. If you have attachable assets, for example a paid-for house, a paid-for other property or a car with a corresponding resale value, you can also use this to borrow. Then a loan is also possible despite Credit Bureau.