Take up 7,500 USD without Credit Bureau – two ways lead to the goal.
First of all, there is the option of using a credit broker in Germany who can help you obtain the Credit Bureau-free loan.
The most famous address is certainly Cream bank. The loan broker from Speyer carries out extensive advertising in the media and claims to be the market leader in arranging loans without Credit Bureau. Good Finance is another financial service provider that we can recommend. The credit broker is based in Halle / Saale.
This loan broker is less well known, perhaps because the company primarily operates online and does not use expensive advertising. However, the credit intermediary is praised by its customers for its particularly good advisory services. Good Finance is all about loans. The financial service provider expressly refrains from providing unnecessary insurance or other financial products.
Both credit brokers are reputable. They submit loan offers to their customers without incurring upfront costs. The offers are non-binding and do not oblige customers to do anything.
In addition to commissioning a credit broker, you can contact the lending bank directly and apply for a 7,500 USD loan without Credit Bureau online. Good Finance from Liechtenstein is the only credit institution that sells loans without Credit Bureau in Germany. The credit request is also free and non-binding. We have provided you with additional information on Good Finance and Credit Bureau-free loans in general in separate articles.
Loan application to intermediaries or to the bank directly?
The conditions for a 7,500 USD loan without Credit Bureau are the same everywhere. The Agree Bank does not grant credit intermediaries special conditions.
Which financial service provider is best suited to apply for a 7,500 USD loan without Credit Bureau? The answer to this question depends on what your personal situation is and why the loan should be free of Credit Bureau.
Many credit customers who are looking for a loan without Credit Bureau online have negative entries that come from the past. In the meantime, however, they have recovered economically enough that they can afford a loan. You have good or average regular income.
But if you want to apply for a loan, then the past catches up with you. Negative features burden the credit score even if they have been settled but not yet deleted. Many banks categorically deny any lending in such cases.
If the negative characteristics are due to impairments in the performance of a previous loan, no bank will be willing to lend at all as long as the entry in the Credit Bureau file is visible. That is why a loan without Credit Bureau appears to be the only way out.
But there are other reasons for a loan without Credit Bureau. You have not had any Credit Bureau problems at all, but simply do not want a small loan to appear in your Credit Bureau file.
This can make sense if you are planning a larger financing project. Although the Credit Bureau-free credit appears in your documents (account statements, possibly pay slips), the bank score remains unaffected. This may result in better interest rates for financing.
Example: You are planning to buy a condominium, but do not have any noteworthy own funds. With a 7,500 USD loan without Credit Bureau you can at least finance the ancillary costs, i.e. use the amount as own funds. The consequence may be that financing becomes possible in the first place or that the overall interest burden is reduced.
If you are planning to take out a Credit Bureau-free loan from the outset, we recommend that you apply for a loan directly from the bank. If you are not sure which loan solution is right for you and whether you can fill out Lite Bank’s somewhat complicated loan request properly, then you should use the help of a credit broker. Loan brokers can sometimes get relatively low credit customers with normal loans that are cheaper than Credit Bureau-free loans.
However, you have to expect an additional commission. The route through a credit broker is primarily useful for people who do not have a particularly good credit rating.
7500 USD loan without Credit Bureau: the conditions
Credit Bureau-free loans are offered on fixed terms that are not negotiable. This leads to a high level of transparency, but also to inflexibility.
The 7500 USD loan without Credit Bureau has the following conditions:
|Net loan amount||7500 USD|
|interest expense||1512 USD|
|total amount||9012 USD|
|Annual borrowing rate||10.58%|
|Effective interest rate||11.11%|
The total amount will be paid in 40 equal monthly installments of USD 225.30. Payment begins in the month after next after the contract is signed. This can extend the term to 42 months. An early repayment of partial amounts or the entire remaining amount is possible at any time without payment of a prepayment penalty.
The Good Finance standard information for consumer loans states:
Follow-up loans and credit increases are possible. The remaining amount may not exceed 3500 USD.
Are you planning a loan without Credit Bureau, but only want to take out 7,000 USD or 6,000 USD? Formally, this is not possible. Credit Bureau-free loans are only available in amounts of 3500 USD, 5000 USD or 7500 USD. No other loan amounts are possible.
However, you may be able to use a trick. They benefit from the possibility of free special repayments. For example, take out a $ 7,500 loan without Credit Bureau and pay back the amount you don’t need, for example $ 500 if you only need $ 7,000.
However, this little trick is not in vain. Until repayment, you must pay interest on the excessive, unnecessary loan amount. In addition, possible commissions are due on the entire loan amount. However, this method is still cheaper than interest payments on the total amount not required over the entire term.
Allocation requirements for the 7,500 USD loan without Credit Bureau
The lending requirements largely correspond to those of conventional installment loans. However, there are some peculiarities that are in the nature of Credit Bureau-free loans. Self-employed people do not receive loans without Credit Bureau.
Without Credit Bureau does not mean without creditworthiness. Potential credit default risks from the loss of Credit Bureau information are compensated for by strict requirements on the economic situation of the applicant.
Applicants must have a good to average income and a secure job. The required monthly net income is shown in the following table (as of August 2019):
|Tax classes 1, 2, 4 and 5||Tax class 3|
|Children subject to maintenance||net income||Children subject to maintenance||net income|
|No children||1,860 USD||No children||2,180 USD|
|1 child||2,180 USD||1 child||2,600 USD|
|2 children||2,600 USD||2 children||3,010 USD|
|3 children||3,010 USD||3 children||3,570 USD|
|4 children||3,570 USD||4 children||–|
In addition to the clearly defined net income, the following requirements must be met: A residence in Germany. Applicants must be at least 18 years old and must not be older than 62 years.
A current account with a Agree Bank (cash payments are no longer possible). A permanent employment relationship as an employee, worker or civil servant. The employment relationship must have existed for 48 months. In the case of follow-up loans or topping up loans, the duration of employment is twelve months.
The applicant is healthy and fully capable of working. No attachments or assignments. No intended or requested bankruptcy proceedings. No entries in official registers. Neither affidavit nor warrant.
7500 USD despite Credit Bureau instead of without Credit Bureau?
A loan without Credit Bureau is often sought, although a normal installment loan would still be possible despite some creditworthiness problems.
A below-average Credit Bureau score or minor or completed negative features do not necessarily have to rule out lending in every case. If you are not fixed on a Credit Bureau-free loan from the outset, you should always apply for a normal loan first. This applies even if the loan is rejected by a branch bank or even by the house bank.
Credit intermediaries can often help. Some partner banks, mostly not so well-known credit institutions, work with relaxed lending guidelines. Of course, loans have their price in difficult cases.
For example, request a normal loan from Good Finance. This credit broker processes all inquiries manually and attaches particular importance to appropriate and fair advice to customers. Together with Good Finance, you have a good chance of finding a suitable loan with and without Credit Bureau. You can also apply to one of the well-known credit comparison portals.
The Fine Bank loan calculator also works with banks and financial service providers (P2P portals) who grant loans with below-average credit ratings. However, inquiries are largely processed automatically here.
Unlike credit intermediaries, Fine Bank cannot apply for loans without Credit Bureau. Normal installment loans with negative Credit Bureau do not always have to be cheaper than 7,500 USD without Credit Bureau.