Credit without credit bureau: Cheap + reputable providers compared & test. Online banks that offer the loan without credit bureau information at particularly favorable terms are particularly advantageous. It is advisable to seek self-test from credit bureau before applying for a loan. The specter of the credit bureau – unfounded fear of information. But there are also ways to get a loan despite credit bureau information.
Cheap loans without credit bureau
So-called “credit bureau-free loans” are usually doubtful. In addition, such loans are usually equipped with bad conditions. At the end of October 2012, the credit bureau submitted an investigation to the FH Koblenz confirming this result. “The demand for advance payments or the offer of senseless insurance contracts are already the first references for fraudulent providers”, says Univ.-Prof Hugo Grote RhineAhrCampus in Detmold, who made the legal evaluation of the survey ,
“The spectrum of infringements by operators of so-called” credit bureau-free “loans ranges from abuse, misleading and breaching information obligations to usury and abusive advertising,” Grote continued. But are there any serious credit bureau-free loans? Yes, says the direct group, the market leader in the life insurance market for secondary market life insurance. The basic requirement for a credit bureau-free loan is a life or pension insurance with a cancellation value of at least EUR 5,000.
Policy loans – Investment
The life insurance market for secondary capital insurance does not just cover the purchase of insurance. Another, often lesser-known form of investment is policy loans, which currently have fixed interest rates of 4.95% (pa) and are more attractive than bank overdrafts or installment loans at the commercial bank. Yet another plus: no credit bureau information or corresponding access is required.
As a further option to the policy loan, the policies Direct offers policy cash. This is a variant of the deposit, ie the world’s longest form of credit. You need additional insurance with a return value of at least 10 000 EUR for this takeover offer. Policies Direct purchases this insurance and pays immediately up to 90 percentage points of the surrender value.
In this case, the purchase price will be the originally paid dividend plus the amounts paid by Policies Direct until remittance, compounded at a current interest rate of 4.24%. In addition, neither a credit check at credit bureau nor a corresponding booking is required in the policy liquidity variant. The Policies Direct Group is the market leader in the purchase of German life insurance policies and the world’s largest provider of secondary market policies in Germany.
In addition, Policies Direct markets favorable policy loans and the distribution of closed-end funds through the secondary life insurance market. Overall, Policies Direct manages secondary market policies totaling over EUR 1.2 billion, making it the largest asset manager for secondary market policies in Germany. Source: Press release of the policy direct.