Money & WorkHow it works

How a credit bureau decides whether you're creditworthy.

Credit bureaus collect data on accounts, loans, contracts and missed payments and condense it into a probability that you'll pay on time. Positive signals: long-standing accounts, punctual instalments, few credit enquiries. Negative signals: collection proceedings, many new loans, unusually many current accounts and credit cards. In the EU, the GDPR gives you the right to see what's stored for free.

Useful: Request your own report once a year and get incorrect entries fixed.

Source: en.wikipedia.org

BankDatenKredit

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