A financing requirement may arise from a wide variety of occasions – for example for starting a business, buying a car or building a house. Obtaining a loan with no credit rating is not really easy – but “credit rating” is a relative factor that banks and potential borrowers rate differently.
Bad credit rating? What to do?
For example, many consumers are of the opinion that a negative Credit Bureau information is equivalent to a bad credit rating – but this is not the case. Basically, everything possible is entered in the file of the Credit Bureau, both positive and negative characteristics.
Some negative entries also weigh more heavily than others – for example, a current real estate loan usually turns out to be more burdensome than one or two cell phone contracts. Of course, the amount of income is also important – regardless of the amount, employees or civil servants always get away better with lending than self-employed or freelancers.
You have the best cards, even if the most tempting conditions are not always offered, at your own house bank, to which generally and regardless of creditworthiness, first gear should lead in order to be able to compare the offer received there with offers from other banks.
Bank advantages when you have poor creditworthiness
If the creditworthiness is poor, the house bank is more of an advantage because the potential borrower has more room to negotiate – of course, depending on when the customer relationship has existed and how reliable the customer has been in previous agreements, for example, if the overdraft facility is tolerated, has shown.
Incidentally, it is a misconception that Swiss loans are loans from abroad – here too, of course, the credit applicant’s creditworthiness is checked, based on the latest wage slips and account statements from the past three months. The only difference to a loan from a German bank is that no Credit Bureau information is obtained, but the Swiss loans are only intended for employees or civil servants and not for the self-employed, pensioners, unemployed or freelancers.
Without a credit rating, it will be difficult to get a loan – if you ignore dubious offers. Unfortunately, not all loan offers are to be understood as serious – for example, you should generally refrain from offers that are brought up without being asked or where the broker or the supposed bank asks for fees in advance.