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Credit without bank information – is that possible?

Sometimes it is a little difficult to find your way through the linguistic thicket on the credit market. The classic example of this is the phrase credit without bank information. Because this expression can mean two different things: The problem with this: Mostly people think it means the wrong thing.

The credit without bank information: the common understanding of people

The credit without bank information: the common understanding of people

The common understanding of people with a loan without bank information is strictly based on the word meaning. They think it is a loan that the lender does not want to know about the condition of their own bank account. This is always the case when you want to rent an apartment, only that there is a so-called voluntary self-disclosure.

Such a credit with credit report is required by financial institutions that grant a loan to people who do not have their account with them. In addition, private individuals who grant a loan naturally want to know what the borrower’s financial situation is like. The usefulness of the bank information is, moreover, controversial: it does not say anything about the total debt, nor about the payment behavior of the applicant in the past or about its creditworthiness.

The loan without bank information: the other variant

The loan without bank information: the other variant

But the term credit without bank information can mean something else anyway: Namely, that the bank is the acting subject and gets information or not. The following question is: Who should the money house get information from? There are actually only two variants: either from the protection association for general loan protection or they would like information about the creditworthiness.

You can be absolutely certain that every bank that is supposed to grant a loan will always approach the last option in some form. Loans without Credit Bureau, however, are not uncommon. You can find them especially at so-called direct banks, which only operate on the Internet.

Find a loan without bank information

Find a loan without bank information

Since the term credit without bank information can mean exactly these two things, there are numerous offers that advertise exactly with it. For this reason, anyone looking for a suitable loan should do the translation in the direction of the actual meaning beforehand and look for such loans on the Internet.

In plain language this means: If you want a loan without bank information that corresponds to the first variant, you should look for a loan without voluntary self-disclosure. In variant two, the corresponding search for a loan without Credit Bureau or despite Credit Bureau.

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