Month: January 2020

7500 USD loan without Credit Bureau: serious and cheap.


Take up 7,500 USD without Credit Bureau – two ways lead to the goal.

Take up 7,500 USD without Credit Bureau - two ways lead to the goal.

First of all, there is the option of using a credit broker in Germany who can help you obtain the Credit Bureau-free loan.

The most famous address is certainly Cream bank. The loan broker from Speyer carries out extensive advertising in the media and claims to be the market leader in arranging loans without Credit Bureau. Good Finance is another financial service provider that we can recommend. The credit broker is based in Halle / Saale.

This loan broker is less well known, perhaps because the company primarily operates online and does not use expensive advertising. However, the credit intermediary is praised by its customers for its particularly good advisory services. Good Finance is all about loans. The financial service provider expressly refrains from providing unnecessary insurance or other financial products.

Both credit brokers are reputable. They submit loan offers to their customers without incurring upfront costs. The offers are non-binding and do not oblige customers to do anything.

In addition to commissioning a credit broker, you can contact the lending bank directly and apply for a 7,500 USD loan without Credit Bureau online. Good Finance from Liechtenstein is the only credit institution that sells loans without Credit Bureau in Germany. The credit request is also free and non-binding. We have provided you with additional information on Good Finance and Credit Bureau-free loans in general in separate articles.

Loan application to intermediaries or to the bank directly?

Loan application to intermediaries or to the bank directly?

The conditions for a 7,500 USD loan without Credit Bureau are the same everywhere. The Agree Bank does not grant credit intermediaries special conditions.

Which financial service provider is best suited to apply for a 7,500 USD loan without Credit Bureau? The answer to this question depends on what your personal situation is and why the loan should be free of Credit Bureau.

Many credit customers who are looking for a loan without Credit Bureau online have negative entries that come from the past. In the meantime, however, they have recovered economically enough that they can afford a loan. You have good or average regular income.

But if you want to apply for a loan, then the past catches up with you. Negative features burden the credit score even if they have been settled but not yet deleted. Many banks categorically deny any lending in such cases.

If the negative characteristics are due to impairments in the performance of a previous loan, no bank will be willing to lend at all as long as the entry in the Credit Bureau file is visible. That is why a loan without Credit Bureau appears to be the only way out.

But there are other reasons for a loan without Credit Bureau. You have not had any Credit Bureau problems at all, but simply do not want a small loan to appear in your Credit Bureau file.

This can make sense if you are planning a larger financing project. Although the Credit Bureau-free credit appears in your documents (account statements, possibly pay slips), the bank score remains unaffected. This may result in better interest rates for financing.

Example: You are planning to buy a condominium, but do not have any noteworthy own funds. With a 7,500 USD loan without Credit Bureau you can at least finance the ancillary costs, i.e. use the amount as own funds. The consequence may be that financing becomes possible in the first place or that the overall interest burden is reduced.

If you are planning to take out a Credit Bureau-free loan from the outset, we recommend that you apply for a loan directly from the bank. If you are not sure which loan solution is right for you and whether you can fill out Lite Bank’s somewhat complicated loan request properly, then you should use the help of a credit broker. Loan brokers can sometimes get relatively low credit customers with normal loans that are cheaper than Credit Bureau-free loans.

However, you have to expect an additional commission. The route through a credit broker is primarily useful for people who do not have a particularly good credit rating.

7500 USD loan without Credit Bureau: the conditions

7500 Euro loan without Credit Bureau: the conditions

Credit Bureau-free loans are offered on fixed terms that are not negotiable. This leads to a high level of transparency, but also to inflexibility.

The 7500 USD loan without Credit Bureau has the following conditions:

Net loan amount 7500 USD
interest expense 1512 USD
total amount 9012 USD
Annual borrowing rate 10.58%
Effective interest rate 11.11%

The total amount will be paid in 40 equal monthly installments of USD 225.30. Payment begins in the month after next after the contract is signed. This can extend the term to 42 months. An early repayment of partial amounts or the entire remaining amount is possible at any time without payment of a prepayment penalty.

The Good Finance standard information for consumer loans states:

Follow-up loans and credit increases are possible. The remaining amount may not exceed 3500 USD.

Are you planning a loan without Credit Bureau, but only want to take out 7,000 USD or 6,000 USD?  Formally, this is not possible. Credit Bureau-free loans are only available in amounts of 3500 USD, 5000 USD or 7500 USD. No other loan amounts are possible.

However, you may be able to use a trick. They benefit from the possibility of free special repayments. For example, take out a $ 7,500 loan without Credit Bureau and pay back the amount you don’t need, for example $ 500 if you only need $ 7,000.

However, this little trick is not in vain. Until repayment, you must pay interest on the excessive, unnecessary loan amount. In addition, possible commissions are due on the entire loan amount. However, this method is still cheaper than interest payments on the total amount not required over the entire term.

Allocation requirements for the 7,500 USD loan without Credit Bureau

Allocation requirements for the 7,500 euro loan without Credit Bureau

The lending requirements largely correspond to those of conventional installment loans. However, there are some peculiarities that are in the nature of Credit Bureau-free loans. Self-employed people do not receive loans without Credit Bureau.

Without Credit Bureau does not mean without creditworthiness. Potential credit default risks from the loss of Credit Bureau information are compensated for by strict requirements on the economic situation of the applicant.

Applicants must have a good to average income and a secure job.  The required monthly net income is shown in the following table (as of August 2019):

Tax classes 1, 2, 4 and 5 Tax class 3
Children subject to maintenance net income Children subject to maintenance net income
No children 1,860 USD No children 2,180 USD
1 child 2,180 USD 1 child 2,600 USD
2 children 2,600 USD 2 children 3,010 USD
3 children 3,010 USD 3 children 3,570 USD
4 children 3,570 USD 4 children

 In addition to the clearly defined net income, the following requirements must be met: A residence in Germany. Applicants must be at least 18 years old and must not be older than 62 years.

A current account with a Agree Bank (cash payments are no longer possible). A permanent employment relationship as an employee, worker or civil servant. The employment relationship must have existed for 48 months. In the case of follow-up loans or topping up loans, the duration of employment is twelve months.

The applicant is healthy and fully capable of working. No attachments or assignments. No intended or requested bankruptcy proceedings. No entries in official registers. Neither affidavit nor warrant.

7500 USD despite Credit Bureau instead of without Credit Bureau?

7500 USD despite Credit Bureau instead of without Credit Bureau?

A loan without Credit Bureau is often sought, although a normal installment loan would still be possible despite some creditworthiness problems.

A below-average Credit Bureau score or minor or completed negative features do not necessarily have to rule out lending in every case. If you are not fixed on a Credit Bureau-free loan from the outset, you should always apply for a normal loan first. This applies even if the loan is rejected by a branch bank or even by the house bank.

Credit intermediaries can often help. Some partner banks, mostly not so well-known credit institutions, work with relaxed lending guidelines. Of course, loans have their price in difficult cases.

For example, request a normal loan from Good Finance. This credit broker processes all inquiries manually and attaches particular importance to appropriate and fair advice to customers. Together with Good Finance, you have a good chance of finding a suitable loan with and without Credit Bureau. You can also apply to one of the well-known credit comparison portals.

The Fine Bank loan calculator also works with banks and financial service providers (P2P portals) who grant loans with below-average credit ratings. However, inquiries are largely processed automatically here.

Unlike credit intermediaries, Fine Bank cannot apply for loans without Credit Bureau. Normal installment loans with negative Credit Bureau do not always have to be cheaper than 7,500 USD without Credit Bureau.

Credit online and credit cards

Good Finance is a smaller bank with its headquarters in Hamburg and a few branches scattered across Germany, including Berlin. The financial service provider was founded in 1969 to handle the merchandise credit business of Otto Shipping. In 1976, the bank, originally designed as an installment bank, received a full bank license.

Good Finance primarily offers credit cards. In addition, she advertises an installment loan online in cooperation with Good Credit Bank and offers an owner loan.

In addition to credit products, savings products (overnight money and savings certificates) are also offered, which can be requested online or “managed” online.

Another line of business is the financing of goods


The homepage is dominated by the current online main product, the Visa credit card. Finally, the navigation also takes customers to the two loan offers, the direct loan, and the owner loan.

The individual product pages offer a quick overview of the conditions. If necessary, the information according to the consumer credit directive is listed relatively clearly.

Direct contact is possible by phone (via hotlines), by email or in a branch. The website has a FAQ section arranged by-product, in which some essential questions are addressed. As far as the loans offered are concerned, the conditions for granting are detailed.

Otherwise, the information is somewhat superficial. It is therefore advisable to use the callback service or the hotline to obtain more detailed information.

Good Finance loans

Good Finance loans

There are two loan offers on the bank’s website: the direct loan, a conventional installment loan and the owner loan, a loan for property owners.

The bank offers its advertised credit products and also dealer loans through sales partners. Sales partners are provided with a number of tools.

In this way, they can offer their customers a preliminary, immediate decision. For this purpose, a preliminary credit check is carried out according to the so-called traffic light principle based on a Credit Checker request and a bank’s own scoring system.

installment loan

The installment loan is not a separate loan offer. Good Finance apparently brokered a loan product from Good Credit Bank. Visitors are redirected to the website of this bank in order to get the loan application.

Loans between USD 2,500 and USD 50,000 are brokered. The terms are between 12 installments and 84 installments.

Good Credit Bank offers a debt rescheduling service. Loans without Credit Checker will not be arranged. In addition, there can be no negative characteristics at the Credit Checker or Info score.

Self-employed and freelancers are not eligible to apply. All other requirements are described in our article about the Good Credit.

Submitting a loan application via the Good Finance website is actually superfluous. It seems to make more sense to contact the Good Credit directly or, even better, to use a credit comparison that contains offers from the Good Credit Bank.

owner loans

The owner loan is intended for apartment owners. Home loans are also known as home loans.

Loan amounts between USD 5,000 and USD 60,000 are offered. The long terms of up to 180 months are interesting. The loan is not necessarily earmarked for residential investments.

It can also be used as a general-purpose loan for any other purpose. In addition to the usual purchases, larger debt restructuring campaigns are particularly important.

The loan is offered with a 5-year and a 10-year fixed interest rate

The loan is offered with a 5-year and a 10-year fixed interest rate

In addition to the fixed interest rate, the extent to which the loan should not only be used for residential purposes but also for consumption purposes is obviously decisive for the interest rate. If the “consumer debt rescheduling” is higher than 50%, this has a negative effect on the annual percentage rate.

Early repayment of the loan is obviously only possible after a special agreement and against the prepayment penalty.

Suspension of repayment is not expressly provided for, but it can perhaps be agreed afterward in the event of financial bottlenecks. Credit increases are not excluded after prior contact. However, another credit check will very likely be carried out.

No further information is given on the website regarding the application requirements. The owner loan cannot be applied for online. A prerequisite is contacting us by telephone or in writing.

How much credit do I get at 1300 net?

Getting a loan with 1300 USD or 1400 USD net per month is not necessarily a sure-fire success.

Of course, you opened this article to find out what your chances of getting a loan are and what maximum loan amount you can count on.

Whether and how much credit banks lend depends on a number of factors:

The free disposable income of the applicant, how many people the borrower is dependent on and finally how the banks carry out the credit check in individual cases.

Banks rate these and other criteria differently. And no bank publishes its lending guidelines.

Therefore, it cannot be predicted with certainty what the credit options ultimately look like with a salary of 1300 to 1400 net. Certainty only brings a specific loan request.

However, an estimate of the maximum loan amount is possible and can serve as a good preparation for the loan request and the sometimes subsequent negotiations.

Budget bill and disposable income

Budget bill and disposable income

This chapter deals with the question of how much credit you can afford at around 1300 USD net per month.

It’s more a question you should ask yourself. Of course, the bank is also interested in your economic performance before granting a loan.

But the criteria for the assessment need not be the same.

The freely disposable income with which the loan rate can be shouldered is determined by a household bill.

All income and expenses are recorded and compared on a monthly basis. If no budget book is kept (who does it), an estimate as accurate as possible is sufficient.

Free household calculators are available on the Internet like sand by the sea. We prefer the calculator with the Responsibility website.

Some expenses do not occur monthly, but in longer time intervals, for example quarterly or annually. You have to convert this expenditure to the month.

If there is a surplus of income over expenditure, you have freely disposable income with which, from an economic point of view, you can pay the monthly installment for the loan.

Another method is to estimate the possible monthly rate using a rule of thumb. For example, free installment loans are often based on 20% of the monthly net income.

At 1300 USD net monthly this is 260 USD and at 1400 USD monthly 280 USD.

However, your budget bill using the suggested form and the rest of this article will show you that these lump sums are usually too high.

The stumbling block: the attachable income

The stumbling block: the attachable income

In contrast to earmarked loans, the usual installment loans have no further collateral apart from the salary assignment.

Even if you offer additional collateral, these offers are often not even accepted. The reason lies in the effort that additional collateral brings for the credit institution.

The proportion of income that can be seized depends on the number of maintenance obligations that you have to fulfill. As a rule, this concerns children who are subject to maintenance.

A screenshot from the attachment table shows at a glance the attachable share of the salary.

At $ 1300 to $ 1400 net per month, salary shares can only be attached if no maintenance obligations are to be met.

Banks do not necessarily expect the agreed monthly loan installment to be fully covered by the attachable salary component.

It is more problematic if the total monthly income is below the absolute garnishment exemption limit of approximately 1180.

Even then, some banks still agree to issue smaller loans.

As a borrower, however, consider the garnishment table with the garnishment-free wage components.

Legislators have declared part of the wage to be attachable so that consumers receive a minimum amount to support themselves.

If you use income that is supposed to secure your basic needs to settle credit installments, you can get into a debt trap.

So be careful with borrowing if the monthly installments cannot be largely paid off from the wage shares subject to the attachment.

What loan amounts are realistic?

What loan amounts are realistic?

The amount of credit that can be calculated without taking individual credit rating characteristics into account depends on three requirements:

  • The selected term.
  • The free income available for the monthly payment.
  • The effective annual interest rates.

For the following example calculations, we assume that the applicant has no maintenance obligations.

If the income is 1300 USD per month, we assume a rate of 120 USD.

If the income is 1400 USD per month, the possible credit rate should be 190 USD.

We use a few tools to carry out the sample calculations quickly.

How much credit does the bank give?

How much credit does the bank give?

The amount of credit actually granted by a bank can vary significantly from the sample calculations. There are several reasons for this.

The interest rates depend not only on the term, but also on the creditworthiness, which is determined according to the bank’s lending guidelines.

Interest rates can therefore be lower than the average interest rates or even higher.

The effective annual interest rates always depend on the credit rating of the credit customer.

This also applies if fixed interest is offered, i.e. interest independent of creditworthiness. In these cases there is a limit credit rating.

The advertised interest rate is only offered if a certain credit rating level, often defined by a score, is not undershot.

If the credit rating level of the relevant bank falls below the level, the applicant either receives no credit from the bank at all or higher interest rates are charged.

The credit check does not only take into account freely disposable income. The credit default risk is of great importance.

In order to be able to assess this risk, banks obtain information from various credit bureaus.

The most famous credit agency in Germany is Credit bureau. Credit bureau determines various score values ​​with which the credit default risk is limited.

In addition, personal relationships such as civil status and job security also play a role.

It also depends on which loan option is being applied for. Different guidelines apply to real estate financing secured by real estate than to an all-purpose loan for free use.

The bank can use the financed vehicle as collateral for car loans. Dedicated auto loans always require the vehicle to be assigned as security. For this reason, less stringent requirements regarding personal creditworthiness can apply.

The same can apply to financed purchases. When buying in installments, the purchased item is often assigned as security. The loan amounts are also relatively low.

Some banks have general rules on maximum loan amounts. For example, normal non-earmarked installment loans are only granted up to ten times the monthly net income.

With 1300 USD net this would be 13,000 USD and with 1400 USD net 14,000 USD.

Finally, banks can use lump sums for the household bill. For the first person in a household, for example, an amount of 600 USD or 800 USD is set, for each additional person an additional 200 USD.

Favorable credit terms through comparison

Favorable credit terms through comparison

How much credit you actually get on what terms, depends on the specific loan offers of the banks.

The offers can be quite different because the banks follow different guidelines when granting loans.

One bank may fully meet your loan request, while another bank is only willing to offer a significantly lower loan amount and also charges higher interest rates.
Of course, you can submit individual loan applications to five or ten direct banks and then laboriously compare the results.