Credit without Credit Bureau information and without prepayment is heavily advertised. But is the waiver of prepayment the only thing to watch out for with Credit Bureau-free loans? The article summarizes all important information about loans without Credit Bureau information for you.
Credit without Credit Bureau information without advance payment – credit advertising
The loan without Credit Bureau information and without advance payment is advertised almost without exception by credit brokerage companies. The image of the credit brokerage industry continues to suffer from media reports. By promising to forego prepayment or preliminary costs, trust should be rebuilt. The borrower only incurs costs if the loan is actually granted. A fair solution.
Despite all confidence-building measures, every consumer who is interested in a loan without Credit Bureau must remain careful. Not only serious companies advertise with this slogan. The first cost trap is already “literally at the front door”. A home visit is often offered to discuss the credit situation. The representative’s visit is rarely non-binding and free of charge. Victims report that they had to pay up to 200 USD for the representative’s journey.
What traps can dubious providers set?
The advertising for the loan without Credit Bureau information and without prepayment does not say much about the loan provider. Even a look at an optically nicely arranged website does not reveal anything. Anyone who dares to take a look at the side of the bank to which all serious Credit Bureau-free loan offers refer will be disappointed. Litebank is currently the only legal provider, but the site is simple.
It is only from the actions of the credit broker that one can conclude beyond doubt whether the offer is serious. A reputable credit broker does not require you to call back a paid service number or to take out insurance. His offer only includes the intention to broker credit. This does not require the application for an expensive credit card, nor does it have to be invested in the asset-effective services.
If the loan can only be made using an online form with immediate credit check without Credit Bureau information, caution is advised. Address traders who later wanted to sell the data work exactly according to this procedure. Without Credit Bureau, the process makes no sense. Only the lender can perform a meaningful credit check. Everything else is divination, an unnecessary risk and it doesn’t get any faster.
Loan conditions for Credit Bureau-free loans
Without Credit Bureau, there are only two serious loan amounts. A net loan of USD 3,500 can be applied for at the annual percentage rate of 11.62 percent. The basic income requirement is a net work income of at least 1,130 USD.
The second loan option offers a loan amount of 5,000 USD. The annual percentage rate for this offer is 11.61 percent. The minimum net income from dependent employment for this loan offer is 1,600 USD.
The loan is generally granted with a term of 40 months. The stated net work income relates to single people. When using the direct offer, additional costs arise only through postable payment, which are not included in the effective interest mentioned.
When applying through a credit intermediary, the agency commission must also be considered. The loan commission for a loan without Credit Bureau information without advance payment is usually about three percent of the loan amount.