A Credit bureau-free loan with no upfront costs corresponds to the typical business model of reputable credit intermediaries. Without a personal guarantee of success, the intermediary tries to find a possible loan offer. It is only paid for the successful service of an approved loan.
A Credit bureau-free loan with no upfront costs – this is how you can discover it
A Credit bureau-free loan with no upfront costs is easy to find on the Internet. Credit brokers are behind the offers. Your job is to find credit opportunities in difficult credit ratings. The offer of a foreign loan that could fulfill the loan request is particularly common.
Foreign loans, better known as Swiss loans, can be approved even without looking into the Credit bureau. A negative Credit bureau entry is therefore not as important as it is for ordinary banks in Germany.
Nevertheless, no one is allowed to believe that creditworthiness and credit security play no role in foreign loans. The waiver of the Credit bureau does not mean the waiver of the credit check. Only other standards are applied and other sources of information are used.
Basically, the credit hurdle for a foreign loan is slightly lower than for the house bank. Nevertheless, the ability to repay and guarantee credit must remain guaranteed. People who have problems with this do not get a foreign loan or credit from any specialist provider.
Stumbling blocks for loan offers without Credit bureau
A Credit bureau-free loan with no upfront costs is not a mass product. Statistical studies show that the promotion of this loan option is disproportionate to the approved loans. The reason for this is simple. A company that really aims to broker credit is not behind every perfectly designed advertisement. Unfortunately, there are still dubious traders who want to take advantage of people’s lack of credit as free-riders.
The methods that no one should fall for are recognizable. Sometimes an attempt is made to request payment in advance for the placement activity. It is not uncommon for the credit application to be sent cash on delivery. The trick of helping to improve creditworthiness is more difficult to understand.
People who are looking for a loan without Credit bureau know that their creditworthiness is poor. An improvement therefore sounds good at first. Unfortunately, the help is about a tough commission business. Financial products such as life insurance, a savings contract or a credit card are sold. Once the commission has been earned, no loan can still be arranged.
Credit bureau-free credit from private
For some years now it has been possible to get a personal loan from the Internet. Market leaders are two large portals in the German-speaking Internet. The platforms’ offer is to enable contact between private donors and borrowers.
Both portals charge a parking fee of around 10 USD for this service. In view of the small amount and the basic chances of success, the personal loan should still be regarded as a Credit bureau-free loan with no upfront costs.