An instant loan with Credit bureau entry is the normal case for lending in Germany. Every German credit institution works with Credit bureau. Anyone who gets a loan automatically receives an entry in the Credit bureau, regardless of whether it is an instant loan or a “normal” loan. However, this is not a negative entry. A registered loan does not automatically lead to the refusal of further loans.
The instant loan with Credit bureau entry – procedure and impact.
The approval procedure for an instant loan with Credit bureau entry roughly corresponds to that of any normal loan. Only the processing of the application and, if approved, the payment of the loan amount is accelerated.
Accompanying the application, the Credit bureau information is obtained. The clerk can use the information to check the applicant’s previous credit behavior. Negative entries, such as ongoing collection procedures, are listed here and result in the loan being rejected. Earlier loans that have already been paid or are still in the repayment period are also entered. The impact of these entries can vary. If there were loan entries that were all paid without complaints, this fact has a positive effect on the credit rating. The applicant has demonstrated in the past that it will meet its obligations smoothly. The entry therefore has a positive effect on the credit rating for the instant loan with Credit bureau entry.
With ongoing loans that are also processed smoothly, it is a bit more complicated. The credit installment is taken into account with the money available for payment in installments. This reduces the credit line and the credit rating suffers. The requested second loan is therefore often given with poorer interest rates. If the remaining sum for payment in installments is too low, it can also be rejected. The Credit bureau or the entry is not to blame for this, but serves to protect the debtor against over-indebtedness.
Loans with negative Credit bureau entry.
The search term “instant loan with Credit bureau entry” is often associated with the search for a loan with negative Credit bureau. There is no bank in Germany. Only the personal loan remains possible and, in the case of minor irregularities in the Credit bureau, the Good lender loan.
However, personal loans are only advertised as instant loans. In reality, the process often takes several weeks before a payment is possible. A real instant loan with Credit bureau entry is possible via credit intermediaries as a foreign loan. The application process is usually similar to an online loan, as offered by German online banks. The processing time is also comparatively fast. However, lending is subject to easier conditions. If there are no serious negative entries in the information, then immediate credit with Credit bureau entry, as a Good lender loan, is possible.