Serious credit without SCHUFA - Does it exist?

Almost all banks consider the creditworthiness of the applicant when granting loans.

This is usually assessed and certified by independent third-party companies, such as SCHUFA, using a rating procedure.

But what if you need a long-term or instant loan without SCHUFA because your SCHUFA score is too low for a conventional loan?

Are there "credit without credit history" and what should you look out for?

We'll answer all of that for you today.

What is SCHUFA and what does it have to do with credit?

In short, SCHUFA has a lot to do with credit and, in particular, lending.

SCHUFA even has the word credit in its name, because SCHUFA is simply the abbreviated form of the company name "Schutzgemeinschaft für allgemeine Kreditsicherung".

However, since the name is long, complicated and bulky, it is abbreviated to SCHUFA in common parlance and also by the company itself.

In fact, the SCHUFA is not is not a government financial authority, but a private company.

This collects endless data on German citizens, evaluates it and uses it to classify their creditworthiness.

The focus here is on financially relevant data, for example information on whether installments and invoices have been and are being paid on time.

SCHUFA's goal is to inform companies and landlords about the creditworthiness of their contractual partners so that they can make low-risk business decisions.

It sounds complicated, but it's actually quite simple: if a customer wants to apply for a loan from the bank, the bank naturally wants to know how likely it is that the borrower will repay the loan.

In addition to regular income and assets, the SCHUFA plays an important role here, as the bank can use it to get a good picture of the borrower's payment history.

If the applicant has a good SCHUFA score, it can be assumed that he will repay the loan conscientiously and on time, as he has been similarly conscientious in paying his obligations in the past.

However, the worse the score, the higher the risk of default and the less likely the bank is to approve a loan.

However, there are also providers who, taking into account various other factors, such as the income level, a credit without SCHUFA approve.

What is in the SCHUFA?

Of course, it is interesting to see what data SCHUFA uses to determine a person's ability to pay.

On the one hand, this is very general information about you, such as (former) surnames and first names, current and former addresses, date of birth and gender.

In addition, your SCHUFA contains a lot of information about your credit, installment and payment history. 

This includes, for example, how many current accounts you have opened, which current leasing and credit agreements you have, which and how many telecommunications agreements you have concluded. 

In addition, the number and amount of outstanding payment claims against you are also noted.

Currently, SCHUFA says it has stored the data of more than 5 million companies and 67 million German citizens - a total of around 800 million data.

Bad SCHUFA score - is that bad?

The question now is how important your own SCHUFA rating really is.

And unfortunately, the answer is: very important.

A bad SCHUFA score can really make life difficult for you.

Ordering on account, signing leasing or cell phone contracts and finding an apartment becomes virtually impossible.

Besides - and this is what we are talking about here - credit requests are usually rejected directly if you have a bad SCHUFA rating.

Even if the monthly income is high and regularly paid into the bank account.

In fact, German banks are required by law to check the applicant's creditworthiness before approving a loan.

If this is not good enough, for example if the SCHUFA score is too low, the bank may not grant a loan.

However, no one knows exactly how the SCHUFA score is made up. 

SCHUFA itself does not disclose the calculation formula, but protects it as its trade secret.

But when is a SCHUFA score actually considered bad? An overview:

  • SCHUFA Score >90%: Normally no problems with credit approval
  • SCHUFA Score 70% - 90%: Major difficulties with credit approval
  • SCHUFA Score <70%: Üblicherweise keine Kreditbewilligung möglich

Reasons for a bad SCHUFA

In the best case scenario, to prevent a bad SCHUFA record from occurring in the first place, you should know the reasons for a bad SCHUFA rating.

Generally, it can be stated that a bad SCHUFA entry occurs when you have not fulfilled an (alleged) payment obligation.

The most common cause is unpaid bills.

The good news is that you don't get a SCHUFA entry just because you don't pay a bill on time.

First, you must have received at least two written reminders at the end of the agreed payment period, four weeks apart.

Secondly, in one of the received reminders a threatening SCHUFA entry must have been announced.

In any case, you should also react to unjustified payment requests and object to them in writing!

If the claim is justified but you cannot pay directly, be sure to contact the creditor immediately and clarify the situation.

We hold: Act proactively! This will prevent a negative SCHUFA entry from occurring in the first place.

Other, less controllable factors that have a negative impact on your SCHUFA rating are entries in public debtors' registers, debt collection proceedings initiated against you and the filing of a personal insolvency.

In addition, your credit rating will deteriorate dramatically if you have had a previous loan terminated by the bank because you have not met your obligations.

Another negative influencing factor is frequent, unsuccessful credit inquiries. 

These are also normally stored and noted in the credit report.

Old and incorrect entries can be deleted from SCHUFA, but this also takes time.However, this also takes time.

Therefore, you should regularly request your SCHUFA self-disclosure in order to be able to take action against negative entries at an early stage.

Because if you ever need a short-term loan, your SCHUFA should shine - because offers for instant loans without SCHUFA are very limited compared to conventional loans.

Are there any serious credit free?

If you have not regularly checked your SCHUFA self-disclosure and your rating is in the basement, but you still need funds quickly, the only option left is the credit without SCHUFA.

The wording here is somewhat misleading, since in general no one is "free of schufa" - entries, whether positive or negative, actually have everyone.

You are included in the SCHUFA file at the latest when you open your first bank account.

So a credit free of credit history means a loan where the SCHUFA rating is not (so much) taken into account in the decision whether to approve the loan.

When choosing an instant credit without SCHUFA however, the utmost caution is advised!

Many dubious providers exploit the financial hardship of their target group and offer loans with horrendous interest rates and downright gagging contracts.

However, there are also reputable providers for credit free of credit risk.

Maxda offers its customers for example loans without SCHUFA to and examines each case and situation individually.

To help you distinguish between good and bad offers, we have summarized the characteristics of serious and dubious offers.

Credit without Schufa

Features unserious provider

Dubious providers often make general promises that sound too good to be true. And that's exactly what they usually are.

No loan provider can promise general terms without examining each individual case.

If the provider does this anyway, it is definitely a warning sign.

Often, dubious lenders also require an upfront payment for the mediation of a credit without credit history - and this regardless of whether or not a loan is actually successfully mediated.

If the provider also demands surcharges and extra payments for fast inquiry processing or due to the higher risk of default associated with a low SCHUFA score, it is also a questionable credit provider.

Another warning signal is if the provider aggressively promotes additional products. This is not actually the case with legitimate credit providers.

In addition, pay attention to the interest rate.

It is normal that the interest rate will be higher than a traditional bank loan.

However, if the interest rates are disproportionately high, it is better to stay away! 

Heightened vigilance and caution also apply to offers from private lenders.

Features reputable provider

Fortunately, in addition to some "loan sharks," there are also a number of reputable providers of credit without a credit history.

You can recognize them mainly by the fact that their websites usually do not look like a colorful, aggressive billboard advertising 100 different services, but when the company appears rather plain and serious.

Moreover, they do not advertise a one-size-fits-all solution, but communicate transparently that the loan conditions always depend on the individual situation.

In addition, you do not get unlimited loans from reputable providers, but can usually only smaller loans without SCHUFA take out.

A common credit limit here is between €7,500 and €10,000.

If loans over 10.000€ are offered, it is most likely a dubious offer.

Credit without SCHUFA - where is the catch?

In principle, it cannot be said that there is no such thing as credit without a credit history there is basically a catch.

However, loans that can be obtained without a clean SCHUFA differ from "normal" loans in some respects.

In most cases, a credit-free loan is a credit without credit history is a so-called Swiss loan.

Since German banks are not allowed to grant (higher) loans to applicants with poor credit ratings, they rely on foreign banks - often from Switzerland.

Hence the name "Swiss credit".

However, even loans approved without SCHUFA are not "fun loans".

Swiss banks and their intermediaries, like other banks, have very strict conditions and criteria according to which they approve loans to people with insufficient SCHUFA.

Usually, a minimum income and a permanent employment contract are required, which makes it rather difficult for trainees, students and pensioners to obtain a loan.

Be sure to read the terms and conditions carefully, especially regarding the installment amount and interest rate, and check well whether you can handle the repayment or not.

Normally credit without credit history more expensive than normal loans from German banks.

Since the risk of default is higher, the interest rate is usually higher and the amount of the monthly installments also usually exceeds that of a normal loan.

So don't choose your loan recklessly.

A loan is still an important commitment and should not be entered into lightly.


In general, keep your SCHUFA clean so you don't have to resort to a credit-free loan in the first place and benefit from the better terms of a "normal" loan.

Therefore, you should regularly check your SCHUFA information and have outdated or incorrect entries removed immediately.

And even if the child has already fallen into the well: do not despair!

First, SCHUFA has deletion periods - so your entries will not remain forever.

Secondly, you can also conclude secure loan agreements at humane conditions with reputable providers such as Maxda & Co.