No credit for “bad credit score”

In today’s episode of our regular payday service, we’re dealing with a real “perennial”: negative credit score traits and their impact on the search for credit.

This data collects the credit score

The credit score collects countless data about German consumers. The company claims to have several hundred million records.

For example, the credit score stores account openings, loans, leases, hand contracts and much more. Banks asking you for a loan can request the information from credit score.

As long as only positive entries exist, there are no problems. However, if there are negative characteristics, this will automatically lead to a rejection of your credit wish in most large banks.

How do negative credit score characteristics come about?

If, for example, you do not pay for your mobile phone bill, are in default of payment at a mail order company, or if payment obligations do not comply as agreed, the information will be sent to credit score.

Negative traits usually remain stored for several years and worsen your credit score score. Occasionally, however, consumers are assessed for no apparent reason negative by the credit score. According to a study, even almost every second record in the credit score is wrong.

What to do with “bad credit score”?

Your house bank and many other major banks usually do not lend to customers with a “bad credit score” – no matter how the negative rating came about.

Gandalf Credit does not leave you in the rain in such a case. Because our bank partners do not decide on the basis of the credit score information alone. If you have enough income, you can also get a fair and cheap loan on negative credit score traits.

Just because you have received a rejection from your house bank does not mean that you can not find a loan with a credit card – often the opposite is the case. “How to start where others stop” is a motto of Gandalf Credit.

Our invitation: Put us to the test! If there is a way for you to take out a cheap loan, then we will find that opportunity. Ask now for free your offer and let us convince you! Even in the case of a rejection, you will not incur any costs.