The advertising for a loan without Credit bureau with immediate approval conveys a bit of normalcy in a financially difficult time. As for millions of other borrowers, the online loan application is automatically checked. The immediate approval offers the feeling of planning security even without Credit bureau.
Loan without Credit bureau with instant approval – good loan service?
Instant approval loans are the key to successful online business. In the meantime, there is no longer a well-known direct bank that is denying its customers the service and planning security of the instant credit check. The loan application is checked on the loan provider’s server. The test program corresponds practically in detail with the software of the clerk. Nobody has to worry about the security of their data either. According to human judgment, everything is done to ensure that no unauthorized person has access to sensitive personal data.
It is precisely with this feeling of security that people with a poorer Credit bureau like to apply for their loan online. A loan without Credit bureau with immediate approval seems to be the convenient way of applying for ordinary loan offers for special loans. The first small differences can already be seen in loan advertising. This loan option is not advertised by a neutral loan comparison calculator. The advertising comes exclusively from credit intermediaries.
The next difference becomes clear when the loan application is to be filled out. There is no forwarding to the server of the credit provider. The loan application is completed through the intermediary’s website. In addition, the disclosure of the data must be approved. Approval is, of course, required so that a reputable credit broker can work. As a test, such a convenient application was, of course, examined for the research on this contribution. Only credit opportunities “without Credit bureau” should be checked. The response of the system to the application for a loan without Credit bureau with immediate approval was surprising.
Credibility and seriousness of the immediate examination without Credit bureau
The program replied with a loan approval subject to positive Credit bureau information. The question arises, how serious can a program work that provides such an answer in its automatic check? This credit broker can be credited with the fact that at least the key data of his credit check were up to date. Another provider gave the preliminary loan approval, although the net income entered for the test would not have qualified for the loan.
For all randomly checked offers, the credit broker was not promised to use the data exclusively for credit brokerage. With the consent to the transfer, the data trading business can flourish without this binding commitment. Anyone who thinks, “What the hell, who should be interested in my data” is too careless about the topic.
An entire industry lives from the use of legally procured personal data. More and more online shops are awarding credit checks to external providers. At the latest, when suddenly it is no longer possible to order on account, the carefree handling of intimate financial information takes revenge. No need, just for convenience, no one should trust such information on a website, unless the lender himself. If the application for a loan without Credit bureau was made directly to the provider, then the consent to the transfer of data is dropped.
Credit bureau free credit – direct provider
The hopefully well-intentioned service, a preliminary credit check – without automating Credit bureau, is only offered by credit intermediaries. As far as is known, only a foreign bank legally offers loans without Credit bureau for Germans. It is Cream bank from Liechtenstein. As far as is understandable, all reputable credit offers without Credit bureau refer exclusively to this credit bank. It is not possible to forward the credit check to the provider’s server. The credit bank itself does not offer a loan without Credit bureau with immediate approval.
Credit check without Credit bureau
The credit check process is not easy for a Credit bureau-free loan. Only employees who are in an employment relationship that is subject to social security contributions can qualify for a loan. The employment relationship must also have existed for at least 12 months. It must not be terminated or limited. The level of income is also checked.
The garnishment exemption limits must be exceeded significantly for lending. During the income check, the pay slips are compared to the incoming payments on the bank statements.
A garnishment of wages or an existing assignment of income precludes lending. Each of the key points mentioned is checked individually in the credit approval process. The credit bank is also requesting an extract from the public debt register. An entry, for example about the delivery of the EV, automatically leads to the loan being rejected. In view of the scope of the exams, a loan without Credit bureau with an immediate acceptance is therefore excluded. Too many unknown factors make the preliminary credit check meaningless.