If you are considering taking out a loan, you will first compare the terms and conditions of different providers. If you have found a cheap offer, the next step is usually a loan request from a bank. It is often online today. What does the loan request for private credit entries and information mean?
With the request, your loan project is already much more concrete than with a general comparison of conditions, because you request a binding offer from the bank. As part of the loan request, you usually need to provide a range of information about yourself, your loan and your financial circumstances. In addition, you must provide your information with appropriate evidence (salary statements, bank statements, etc.). On the basis of this information and evidence, the bank then decides on your loan request.
The fine difference – condition request and loan request
The private credit query is standard in credit decisions. Negative private credit traits are regularly a knockout criterion for loans. At the same time, the bank also reports your credit inquiry to private credit There are basically two possibilities: the notification of a request credit terms (KK) or the announcement of a request credit (KA). Both features are stored for one year in your private credit files. Nevertheless, there are important differences.
When requesting a quote, other private credit contract partners – such as other credit institutions – can not recognize this entry. The KK characteristic also has no effect on your credit rating, which is expressed using the private credit score. Credit inquiries, on the other hand, can be viewed by other banks for about ten days. If the credit request feature of private credit is reported more frequently in a short period of time, this may reduce your credit rating. private credit scoring negatively evaluates many (unsuccessful) credit inquiries. This tends to make your chances of getting a loan less favorable.
What is a private credit-neutral query?
To avoid this, many banks today – above all online and direct providers – promise their customers a “private credit-neutral query”. Initially, only an order request will be reported when private credit receives an online loan request. Only when the bank also has the documents and evidence, it shows the private credit a credit request. For comparison portals, the loan request without private credit is commonplace anyway. Pure conditions comparisons in the network have no effect on your private credit information.
In principle, banks can decide for themselves whether to report loan inquiries as a condition request or a genuine loan request from private credit. In a personal consultation in the bank, you should always attach importance that your loan request private credit is reported as a request for a quote. This gives you the opportunity for credit inquiries also at other banks, without that is at your expense.