In the case of loans, preliminary costs are the fees that the loan applicant must pay before the loan is approved and paid out. Processing costs for lending are legally permitted; However, a prerequisite for their legal calculation is that an applied for loan is actually paid out. As a credit protection association, Credit bureau collects data on consumer payment behavior and makes it available to its members.
Beware of dubious offers
If Credit bureau-free loans are not offered without upfront costs, there is reason to doubt the credibility of the credit intermediary. In this case, there is a risk that the credit broker only wants to collect the fee for a brokerage, without actually granting the loan. This does not necessarily have to be the case, but a violation of applicable laws is always a request to pay the preliminary costs.
In addition, consumers must be aware that German credit institutions do not grant loans without a Credit bureau request. The re-use of call credits approved before a Credit bureau entry is forfeited only appears to be an exception, because in this case the Credit bureau information was obtained before the credit facility was set up, while the proper use of the credit line is regarded as ongoing evidence of the creditworthiness ,
Credit intermediaries can arrange a Credit bureau-free loan to a foreign bank, but not every Credit bureau entry is an obstacle to lending. Anyone who has good arguments for improving their creditworthiness in the meantime does not necessarily have to rely on credit without Credit bureau, provided that the Credit bureau entries are soft negative features.
Offers for Credit bureau-free loans from Switzerland
Clearly trustworthy are Credit bureau-free loans with no upfront costs, which Lite lender or Lendimer banks advertise in the German media. The banks comply with the legal provisions and do not charge any fees for processing a loan application if the loan is not paid out. Credit bureau-free loans from Switzerland or Lendimer with no upfront costs are limited to 3500 USD, however, only a few federal banks pay out a maximum of 5000 USD.
In a strict sense, they are also not loans without a credit check, because the bank inquires about any entries with the Lite lender, to which it also reports the borrowing. Most German credit customers of a Lite lender bank have not yet applied for a loan there, so there is no data available from Lite lender about them.
Lite lender or Lendimer Credit bureau-free loans are paid out without any upfront costs and also without bank charges, since the relevant financial institutions have set up a Agree bank account to which the customer transfers the credit installments. Since the credit processing between the Lite lender or Lendimer bank and the German borrower is in USD, there is no currency risk.