Mini credit without Credit Bureau
As annoying as this finding is for borrowers in an emergency, if loan applications are rejected, consumers are usually in the way. That means: If an application is rejected, this is mostly due to a lack of collateral. This includes, for example, a low income. But also the creditworthiness / creditworthiness is a major obstacle when applying for funding. Even if the requested sums were set as small as possible. A mini loan without Credit Bureau can prevent prospective customers from having to reject a negative entry in the register of Credit Bureau or other credit agencies.
Banks rarely offer mini loans
A fine detail in this context is the differentiated examination of the exact statements of those platforms that offer mini loans without Credit Bureau. The first noticeable thing is that banks cannot offer a mini loan without Credit Bureau query. Even though credit institutions such as Fidor Bank or SWK Bank have discovered the rapidly increasing need for small and micro loans and are launching their own “mini loan products”. Banks are prohibited by law from financing without a Credit Bureau request or alternative credit checks via other credit agencies. The most likely thing to appear on the bank portals is “ Credit Bureau neutrality ”. A misunderstanding often arises here, which should be eliminated at this point. In context, Credit Bureau-neutral does not mean that lenders refrain from evaluating creditworthiness when applying. Rather, the banks believe that non-binding inquiries do not have a negative impact on the Credit Bureau score .
Use credit-neutral credit inquiries
Even if you as a prospect think that you have no prospect of success due to a negative Credit Bureau entry (or even several comments). Credit Bureauneutral means with mini credit without Credit Bureau that the request has no impact on the personal rating of the various credit bureaus. Regardless of whether the application is approved or rejected – the application generally has no consequences in such a case. Borrowers should take this aspect into account. This point should be checked especially if you submit applications via one of the well-known placement portals. Because the portal operators also work with providers where the request results in a Credit Bureau note.
Credit Bureau is not absolutely necessary for mini loans
In the case of mini-loans without Credit Bureau, even serious debt is not an obstacle to lending. This is certainly an advantage for borrowers. Whether and to what extent a Credit Bureau-free one really makes sense needs to be carefully considered. If I am already hopelessly in debt, I should rather refrain from additional funding. In such a case, filing for bankruptcy may be a better choice . Even if it takes several years for the burdens to be paid off: Sometimes even the mini loan ends up leading to the final spiral of debt, from which there is no way out.
Good reasons for mini loan applications
Most consumers who need and want to apply for a mini loan do so out of a typical bottleneck and are not necessarily in a situation that can only be resolved through personal bankruptcy.
The mini loan without Credit Bureau, for example, is an adequate solution, though
- Wages / wages paid late
- Surprisingly, bills (e.g. high additional electricity payments) have to be paid
- important purchases are needed for the offspring
- Household appliances need to be repaired or purchased
- exceptionally, the income is not enough to pay for food
- Installments for other loans are not affordable due to financial problems
As with all financing, these are just a few of the many arguments for applying for a Credit Bureau-free mini loan.
Apply for mini-loans from private – cheap and unbureaucratic
Before we analyze further aspects of mini-credit without Credit Bureau, we would like to point out another variant of financing that can be particularly useful in the event of smaller shortages: mini-loans from private individuals. A distinction must, however, be made between personal loans that are issued by brokerage portals on the Internet (more precisely: brokered by private donors). Here, the credit check is also mandatory within Germany, so the question of creditworthiness is actually inevitable. Nevertheless, there are various service providers here that guarantee consumers that a mediocre or even negative Credit Bureau score does not lead to a general rejection of an application. The extent to which creditworthiness then has an impact on the amount of the annual percentage rate is another matter. Since amounts for mini loans without Credit Bureau are usually in the three-digit range, a few percent higher interest rate with a maximum term of three months has no serious impact on the total costs.