Correctly assess the creditworthiness of the applicant
For banks, the credit check of the applicant for a loan is part of their own risk management. Because: Only if you look closely can you see whether an investment is worthwhile or not! As is the case with companies, this statement also applies to banks and other lenders. They look at the creditworthiness of the applicant and then assess whether they want to take the risk of borrowing or not. Especially since it is not only about having to accept a small risk of losing the money, it is also important to ensure a good balance sheet with few loan defaults. At least that's how the owners of the banks see it. Customers are assigned a score that provides information about their creditworthiness.
The creditworthiness states how creditworthy a person is. Does she have enough income to cover normal expenses? Is there anything left over from the income to pay off the repayment installments for a loan after deducting all expenses? What about payment behavior: does the applicant always wait for reminders or does he meet his payment obligations on time? Is the income regulated, is the employment contract open-ended? Or is it a self-employed person who only makes an irregular profit or no profit at all with his perhaps still young company? These and other questions are set up and answered by a credit agency in order to then determine a credit rating. This score should be as high as possible, because all doors at a bank are open to the person concerned and the way to the loan is free.
ZEK is relevant for the credit rating
So-called Schufa-free loans are often offered in Switzerland, with Schufa being the credit agency that is relevant for Germans. For the Swiss, on the other hand, it is the ZEK, the central office for credit information, which nonetheless develops a score. It does not reveal exactly how this credit rating is calculated and what needs to be done to improve a score or to keep a good score at all. In general, it is the usual points such as punctual payment of bills, avoidance of debt collection procedures, regular payment of loans, etc. that have a positive effect on a score.
The data recorded and stored at ZEK are known, including open credit inquiries. It is therefore advisable that a person who wants a loan does not submit a loan application to several banks. The background: If a person has to write to so many banks, they will probably not be offered a loan. Ergo, the credit rating is to be classified as worse. This conclusion does not have to correspond to reality, but it is drawn in this form. If you want to inquire at several banks, you should therefore rather rely on a condition request and not a loan request! This is not saved. However, those inquiries for which the offer is no longer valid are also deleted by the ZEK, they do not remain here forever and therefore cannot have a permanent effect on the creditworthiness.
Blocked bank cards have a very negative effect, regardless of the reason why they were blocked. It is therefore important, in the interests of good creditworthiness and a positive credit decision, not to have bank cards blocked.
Conclusion: the credit rating as an obstacle to lending
When it comes to granting a loan, the most important thing is the credit rating. An applicant should therefore pay attention to his creditworthiness and possibly obtain information in advance from the ZEK. In general, consumers should make sure that they show good payment behavior, because only then is it possible to make a positive credit decision.
