The creditworthiness

The credit rating plays a very crucial role in granting a loan. In the banking language, the credit rating is also called credit rating. Basically, for all loans: the better the credit rating, the sooner you get a loan granted and the lower the interest that you have to pay for the loan. Anyone who has bad creditworthiness will find it difficult to obtain them, and not just for new loans. Even if, for example, a new mobile phone contract is to be closed, a request for creditworthiness will be made.


Review of creditworthiness by banks

Review of creditworthiness by banks

If a consumer asks a bank, whether it be an internet bank or a branch bank, to apply for a loan, the bank first checks the creditworthiness. This is done via a request to the Schufa, since all data is collected in this context. The loan application always contains a so-called Schufa clause, which gives the bank the consent of the applicant to check the creditworthiness of the Schufa. If the applicant has not properly fulfilled his payment obligations in the past, this will be noted in the Schufa. Then it is a so-called negative entry, which makes it difficult to get another loan granted. The Schufa thus protects lenders against possible defaults on repayment.

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That’s how you influence your credit rating


On its own creditworthiness one can take a direct influence. First of all, the creditworthiness is always very good, if you do not even need to take out any loans. However, if this can not be avoided, care should be taken to comply with all payment obligations arising therefrom. Furthermore, you should get yourself at least once a year a self-assessment at the Schufa. Through them you can see what data is collected here. Loans that have already been repaid can be deleted on request, so that the creditworthiness data is up-to-date.