Fast credit despite poor credit rating
Many have heard of a fast credit, but few know what is behind it. If you urgently need money, you can apply for a fast credit, which can often be transferred within a day. However, this fast credit is linked to some conditions despite poor creditworthiness.
Who can benefit from the loan?
Customers who are looking for a lightning loan despite poor creditworthiness must meet conditions to benefit from the loan. No matter which bank the application is made to, as soon as the credit rating turns out to be poor, security must be provided. The creditworthiness can be rated poorly for various reasons. On the one hand it is due to a low income, on the other hand it is due to a bad credit checker.
credit checker is an integral part of the credit world. Every application is carefully examined, first with the credit checker, in which consumers enter loans, unpaid bills, garnishments and even arrears on rent. If a customer has paid off a loan, it is still noted in the credit checker, but as positive. Rental arrears that are still outstanding are a negative entry.
The consumer has a score at credit checker. This is always recalculated. The best number of points is 100. If the customer now has an unpaid invoice, points will be deducted and the credit rating will automatically deteriorate. If there are several entries, the bank can decide to reject the customer’s application.
Improve creditworthiness – increase credit opportunities
There are a number of things that can be done to ensure that poor creditworthiness does not lead to a loan refusal. In order to receive the Blitzkredit despite poor creditworthiness, the creditworthiness has to be improved. This can be done in different ways. On the one hand, the bank gives the customer the opportunity to claim a bank guarantee.
A bank guarantee is when the borrower brings a guarantor who is solvent enough to repay the loan. He only has to make this repayment when the actual borrower is no longer able to do so. Therefore, a guarantor is nothing more than a second borrower.
If you have entries in the credit checker that should have been deleted long ago, you can do this yourself. Any possibility of deleting an entry can increase the chance of a fast credit despite poor creditworthiness. This process is carried out through self-disclosure. Should the customer see entries and prove that these have already been paid off, the entry can be deleted without further notice.
Banks see another option with life insurance that can be taken out. This life insurance serves as protection for the loan. If the customer can no longer pay the installments of the loan, the insurance goes to the bank. This includes a surrender value. The surrender value is used to repay the loan.
Is an online loan a sensible alternative?
in the meantime there are not only bank branches that offer a fast credit despite poor creditworthiness, but also online loans. Here, however, the application should only be made when the different providers have been compared. This ensures that the loan is not too expensive.
To make an application, the online bank will primarily review the customer’s income. Here too, a guarantor or other security often has to be provided if the customer does not have a good credit rating. The procedure is the same as for the house bank.
The difference can be in the interest. Since the online banks have less administration costs, this affects the interest rate. The same loan amount can be cheaper on the Internet than at the house bank. To find out, a comparison can also be made here.