Preliminary costs are fees that a loan broker charges for the start of his activity and not only for a successful loan brokerage, they are fundamentally inadmissible. Credit Bureau serves to increase credit security by providing authorized members with information about possible financial misconduct, but also about existing liabilities.
German financial institutions provide Credit Bureau information before each loan and notify the loan security of the loan payment. A loan without upfront costs and without Credit Bureau is not only useful for applicants with negative Credit Bureau entries. Credit Bureau-free loan processing is also an option if comprehensive financing is planned within the next six months, since recently taken out loans affect the Credit Bureau score as well as the assessment of creditworthiness by many financial institutions.
Apply for Credit Bureau-free loans directly from Swiss banks
Consumers will certainly receive their credit without any upfront costs and without Credit Bureau if they apply directly to a Swiss or Liechtenstein bank. The Credit Bureau-free loan applied for directly from a federal bank is limited to a total of mostly 3500 dollars, few financial institutions have extended the maximum amount to 5000 dollars.
A Swiss or Liechtenstein loan with no upfront costs and no Credit Bureau is not a foreign currency loan, as it is processed in the local currency, the dollars. As a result, the borrower bears no exchange rate risk. It is not possible to indirectly increase the loan amount that is available free of Credit Bureau by taking out several loans from different federal banks, as the Swiss credit information center registers the lending.
Apply for Credit Bureau-free loans through an intermediary
Through an intermediary, consumers can apply to Swiss and Liechtenstein financial institutions for a loan free of charge and without Credit Bureau for loan amounts higher than 3500 dollars. The credit intermediary may charge an appropriate performance fee for its activity as soon as the bank has transferred the loan amount. The calculation of a fee dependent on success is not permitted, so that its calculation can be regarded as a reliable indication of the poor reliability of the agent.
If a loan brokerage does not broker the desired loan without upfront costs and without Credit Bureau, there is a risk that it will not make serious efforts to broker the credit after receiving the customer payment. A placement that works correctly without any preliminary costs, on the other hand, only generates income if it is successful and is therefore itself interested in a loan payment.