Credit without private credit checker demand.
The usual private credit checker demand for a loan application means that the bank obtains information from the credit protection. A loan without private credit checker demand does not necessarily mean that the subsequent borrowing is also not reported to them and must therefore be distinguished from a private credit checker-free loan.
Reasons to forego private credit checker demand
Most often, financial institutions and retailers forego renewed private credit checker demand from existing customers and rely on internal creditworthiness when lending. This is more meaningful than the private credit checker information, since it shows any slight delay in payment. The basis for the decision to grant another customer a loan without private credit checker demand is the assumption that proper payment behavior in one’s own business relationship suggests that the applicant has also met his financial obligations towards other providers.
When using a credit line once granted, a new private credit checker request is unusual. When existing customers apply for a loan with their commercial bank, they do not learn, or only through checking their private credit checker account, that the bank approves the new loan without private credit checker demand. Approved and disbursed bank loans are also reported to the credit protection company if a new private credit checker request is not made, while retailers also frequently fail to report partial payment agreements.
Borrowing to avoid private credit checker demand in Switzerland
In any case, applicants receive a loan without private credit checker demand when they apply for the desired loan from a Swiss financial institution. In this case, in addition to the private credit checker request, the borrowing is not reported to the credit protection agency responsible for contracts concluded in Germany, since the federal credit banks are not members of it. For lending without private credit checker in Switzerland, a maximum of USD 3,500 applies without the involvement of a credit intermediary, which few banks have increased to USD 5,000.
Larger amounts can be taken up as a Swiss loan without private credit checker demand by interested parties commissioning a reputable service provider. The federal banks pay the loans in USD, so currency conversion is not necessary.