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Accept a pre-approved credit increase

If you are a reliable and timely borrower, who always pays their bills on time every month, then your bank may have previously approved an increase in your credit limit. A credit increase simply means that the maximum you can spend on your credit card each month is increased, which allows you to spend more each month. You may think that you do not need an increase in your credit because you do not even use all the credit you currently have. However, an increase in credit can offer many benefits that could be very useful in the long run. So, how do you know if you have to accept or refuse this credit increase? There is no right or wrong answer because the answer to this question depends on who is asking it. You must consider all the advantages and disadvantages of this increase and use your judgment to decide if this is the best option for you, based on your consumption habits and your lifestyle. Also depending on your current financial situation, the amount of your debts and your ability to repay them, accepting a credit increase is not always the best idea. This article describes and explains how a pre-approved credit increase affects your credit rating and indicates whether you should accept it or not. In the end, you have a choice, but it is important to think about the following information.


Why were you offered the increase?

Why were you offered the increase?

The reason you qualify for a credit increase on your credit card is due to a positive payment history and responsible consumption habits. With low to moderate expenses, while generating a high income, your credit score is already off. If you continue to pay your bills in full and on time and you have no problem repaying your debts, you will probably be entitled to a credit increase. Pre-approving your credit card for a limit increase is the means used by the creditor to recognize and reward your good customer behavior. By paying your credit card each month, you show creditors that you are in control of your finances and that you are able to manage a higher credit limit.


Advantages of a credit increase

credit loan

No credit check

Generally, when you apply for a loan or increase the credit card limit, your bank or lender will ask you to check your credit report with the credit bureau they work with (with Qualfax or TransCon ). This is called a credit check. Unfortunately, your credit rating will be reduced by a few points. Too many credit checks in a short period of time can significantly reduce your credit score and show potential lenders or creditors that you have applied for too many credit products and that your application has been denied. However, when you are pre-approved for a credit increase, your lender does not perform a credit check, which does not affect your credit score. That’s because it’s useless, because the banks see your favorable behavior and already know that you’re responsible enough for an increase. For your safety, you should always ask your bank if it will conduct a credit check once you have accepted the increase.

Less use of credit

A credit utilization rate is determined by dividing your outstanding debt by your current available credit. If you have received an automatic credit increase, which increases your current available credit, your credit utilization ratio will decrease. In addition, credit reporting agencies, such as Qualfax and TransCon, use this credit usage to calculate your credit score. As a result, the lower your credit utilization rate, the higher your credit score. However, this is only true if you continue to use your credit card responsibly and if you refrain from increasing your expenses. This will increase your debt and reduce your credit score.


Other benefits of the credit increase

Other benefits of the credit increase

Emergency cushion

Life can be fraught with financial difficulties and problems, and you can never predict what will happen in the future. With minor or major setbacks and incidents, you never know when you will need quick emergency cash. For example, medical expenses, road accident and repair costs, loss of employment and other personal financial dilemmas can create an immediate need for capital. Accepting an upper limit on your credit card allows you to make larger purchases with your card. That way, if you have an emergency, you have the financial cushion you need.

Reward Points

Having an increase in your credit limit on your credit card means having the freedom to make more daily expenses on your card. With less money being used and more credit card transactions, this also indicates more reward points earned through the use of the credit card. In addition, with the ability to make expensive purchases, you should use your credit card to make large purchases instead of cash, check or use your debit card. Making a little bigger purchases with your card can help you earn a lot of reward points, generating other benefits.


Disadvantages of the credit increase

Disadvantages of the credit increase

More debt

With more leniency and confidence to spend responsibly, individuals may be more tempted to increase their spending by increasing their credit. This can create more debt because the cardholder can abuse his card and slowly lose track of his expenses. If you often find yourself heavily in debt and pay only the minimum, you should rethink the acceptance of the credit increase. If you’re having trouble repaying your debts right now, increasing your credit will not make it easy for you, think twice before agreeing. A good tip is to spend only (on your credit card) what you can pay at the end of the month.

Credit check

You can get two types of credit limit increases, both sent as a letter. First, as mentioned earlier in the text, if you have been pre-approved automatically for an increase in your credit limit, your credit score is not damaged because no credit check is performed. To do this, your bank usually sends an email informing you of the automatic increase. However, sometimes you only receive an email informing you that you may qualify for a credit increase. If you received the second option, it could affect your credit score because your file will have to be checked, which will slightly reduce your score. If you currently have too many credit inquiries at once, this could seriously damage your credit score. Therefore, always ask if a serious investigation will be necessary before accepting the credit increase.


Do I have to accept?

credit money

For those of you who are asking if you should accept or reject a pre-approved credit enhancement, check the summary chart below to help you assess your current financial situation and determine if a credit increase is a safe and secure option. advantageous for you.

Cheap Loans – We help you find a cheap loan

This is exactly what most of us are looking for, we want to take as cheap loans as possible. Of course, cheap loans are much nicer and better than expensive loans, but what really makes loans cheap and how do you go about finding cheap loans? We shall try to clarify this here.

What Makes Cheap Loans Cheap?


There are several things that affect how much your loan will cost you. To understand what makes cheap loans cheap and expensive loans less cheap, we divide it into the various factors that play into it.


What first and foremost determines how much a loan will cost you is the interest rate. It is not much more complicated than that. A high interest rate gives a more expensive loan and a low interest rate gives a cheaper loan. The interest rate is set by banks and lenders and varies from bank to bank but also between different types of loans and in different situations.

The loans that have the best interest rate are almost always mortgages. A mortgage is a secured loan, which means that your home is the bank’s security when you borrow. If you are unable to pay your loan, the bank can get back your money by taking / selling your house and picking up what you owe. You can also borrow by car, motorcycle, boat and other valuable gadgets as collateral and all these types of loans have relatively low interest rates. And low interest rates mean cheap loans.

You can get higher interest rates on some other types of loans

You can get higher interest rates on some other types of loans

If you have one or more payment notes, this will also affect the interest rate. The lenders who lend to people who have payment complaints will often charge a slightly higher interest rate due to the uncertainty.


In addition to the interest rate, you will also have to pay a number of different fees in connection with your loan. There are, for example, setup fees, notification fees and sometimes some other fees depending on the bank and type of loan. It is important to remember that these fees can have a great impact on the total cost, especially if these are recurring fees and you have to borrow for a longer period. For example, you can avoid the notification fee by paying via direct debit. When comparing cheap loans, always make sure you include all fees.

Effective interest rate is a concept that is slightly different from ordinary interest rate. Effective interest is a measure of a loan’s total costs calculated on an annual basis, where you include both interest and any other possible costs of the loan.

The effective interest rate is thus a measure of the total cost of the loan and this is a very good measure to use when comparing different loans in the search for cheap loans. One of the few cases where effective interest rates are not so good is in those cases when you borrow a very short period, such as a month. Then the effective interest rate can be misleading, since it is normally calculated over a full year.

The length of the loan

The length of the loan

The length of the loan will also affect how much it costs in total. If you borrow USD 100,000 for one year and pay off the same amount each month, your monthly loan will decrease by USD 8300, which means you pay interest on a significantly smaller amount all the time.

If you borrow the same USD 100,000 for 5 years, you will repay significantly less amount and thus have to pay more in interest altogether. Then this does not necessarily mean that a shorter loan is better, but you should always keep this in mind when looking and comparing cheap loans.

Fast cash advance payday loans -View our online payday loans

If you as an entrepreneur need a little more financial room or want to have the opportunity to invest some extra money, taking out a loan is one of the options. To take out a loan, you must go to a lender. This is the person or institution that provides credit. There are both business and private lenders. This article looks at business lenders.

There are different lenders. There is, of course, the bank. But besides the bank, there are more options for you as an entrepreneur. For example, if you have a minimum annual turnover of € 250,000, you can go to Phyll Financiers. We are an experienced financier for SMEs. You can submit a financing application using the form on the right. Because we use customization, it is not possible to make a statement about certain things. Things like how much you have to pay back per month, how much you can borrow and how much interest you have to pay, all depend on your personal situation.

We do not provide loans to individuals, only to companies. Unfortunately, if you want to borrow as a private individual, we cannot help you further. When we have received your credit application in full and correctly, you will usually be contacted within 48 hours about the options.

View our online payday loans

With business credit, you can invest in your company. For example, you can buy business premises, or purchase supplies, or purchase company cars. In addition, you often pay little interest, and it is not mandatory to repay the loan periodically.

An online payday loan at this great site is arranged quickly so that you can use the money quickly. This is especially useful when you are short of cash or want to make an investment.

When you use the money for an investment, you are likely to make more profit. This makes it easy for you to repay the loan.

Another advantage is that you do not have to claim your equity when you have taken out a loan. This allows you to make investments but also keeps your cash flow going.

In addition, a business loan does not have to be repaid immediately. Investments are easily made, but of course, it takes a while before you start making more profit. Clear agreements are made about when you will have to pay it back so that you know where you stand. This allows you to focus on your business without worrying about when you will have to pay back.

What does a lender do?

A lender provides, as the name implies, a credit. This can be for consumers, but also for business. This article focuses on business lenders. These are the lenders where you can obtain credit when you are an entrepreneur. If you have your own business, you may have to borrow money. This can have various reasons. You can borrow money for an expansion of your business, but also for example to help your cash flow.

Credit cannot simply be provided. Your financial past must be looked at. Are you the owner of a company, but do you have a negative BKR registration? Then it becomes a lot harder to get a loan. Phyll Financiers looks at your financial past, but also always looks at what is possible. It is, therefore, more difficult to get a loan with a negative BKR registration, but not impossible. Keep in mind that a negative BKR registration is generally equivalent to a greater risk for the lender. You will then probably have to pay more interest on the loan than someone without a negative BKR code.

We also look at your current financial situation. The lender must ensure that you borrow responsibly. This means that you do not borrow too much so that you can repay everything within the agreed period. In addition, it is important for you that a clear agreement is made so that you know what you must meet and the chance of late payment becomes as small as possible. So, credit is not just provided. The lender must look carefully at what suits you and your company, and at what level of the loan is justified.

Choosing a lender

Choosing a lender

The lender must conduct research on you, your company and your finances. But it is certainly wise for you as a borrower to do research. There are many different providers, with different requirements that you must meet. For example, one provider may have more flexible requirements than the other provider. This is not necessarily a good or bad thing. It is especially important to look at which provider best suits you, your company and the goal that you have in mind.

Make sure you choose the provider that best suits you. Look at the interest rate and the conditions. And also look at what they can do for you and your company. Some loans are perfect for one company but could cause problems for your company. So it is very important to choose the lender that fits your business. That way, you not only get a credit that allows you to get the most out of your business, it also looks at your business. This means the financial history of your company, whether you have payment arrears with a supplier and whether your company has sufficient capacity. It is not only important to find a suitable credit for your business so that you can achieve your goals and get the most out of your business. It is also important that the credit obtained fits your company, in a financial sense. You must be able to repay the credit including interest and any other costs.

If you are looking for a loan with the lowest possible interest rate, it is advisable to request a free quote from different lenders. That way you can compare the different providers and choose the cheapest for you. In addition, you must remove the risk from the lender as much as possible if you want the lowest possible interest. You do this by showing your annual figures and submitting them on time. Keep in mind that these must be prepared by an accredited accountant. If these figures are positive and the future looks bright, you have a better chance of a low-interest rate.

Phyll Financiers can help you

Phyll Financiers is an experienced financier for SMEs. We always look at what is possible, for example when you have a negative BKR registration. If you are an entrepreneur and have a minimum annual turnover of € 250,000, you can submit a financing application via the button below.

Because we use tailor-made solutions, it is not yet possible to make a statement about how much you will have to pay back per month, or about the interest rate. It is also not possible to make a statement about how much you can borrow. This all depends on your personal situation.

After submitting an application, you will usually be contacted within 48 hours.

Will ‘installment loans’ be the new payday loans?

For payday lenders, installment loans could soon become the new norm, due to proposed government regulations that would break the whip on payday debt debts. Under the existing model, a credit check is not required and the lender simply confirms that you have a fixed source of income before you approve your credit application. Extension date extensions are available for an additional fee. (See for more How termJoe Gargeryening works .)

As part of efforts to end costly payday loan payouts, the Consumer Protection Agency (CFPB) proposed a rule in June that would tighten the qualification criteria and minimize the costs incurred by borrowers. The CFPB says: “The proposed rule would require lenders to determine whether borrowers can afford to repay their loans. The proposed rule would also complete repeated debit attempts that increase fees and make it harder for consumers to get out of debt “In essence, these new safeguards would radically change the way payday providers do business and pose a serious threat to their business results.

Why the shift to installment loan?

money, installment loan

In early August, the Wall Street Journal reported a 78% increase from 2014 to 2015 in the amount of money borrowed as installment loans to borrowers with credit scores of 660 or less. Amounted to no less than $ 24.2 billion in 2015 – almost three times the amount borrowed in 2012, the article adds. Why the steep rise?

Simply put, payday lenders hope to avoid threats caused by the new CFPB rules by replacing traditional payday loans with installment loans. Their defense is that installment loans minimize the need to submit an extension because the borrower can repay the loan over time. However, this does not necessarily mean that payday credits are a more affordable option for consumers.

Is the payment model safer?

payday loan

It is possible that the CFPB has good intentions with this new proposed protection, but that borrowers may experience even more problems with the new model. “The prospect of harmful loans would continue to exist because the proposed rule would allow lenders to charge any rate and set almost any term as long as they make a” reasonable determination “that the borrower can repay the loan,” says the Pew Charitable Trusts. And the higher the interest, the longer the principal remains untouched.

According to the CFPB, payday loans are on average accompanied by an interest rate of more than 300%. To make matters worse, the borrower should also focus on lending and refinancing loans, which is around 10% of the loan amount, notes the Wall Street Journal. In addition, borrowers can get the luxury of a cheaper monthly payment, but the total amount that is waived to meet the loan will be Joe Gargeryijk because of the longer repayment period. To eradicate the problem, the Pew Charitable Trusts recommends that it CFPB changes proposed regulations to “include pro-consumer product safety standards, such as limiting loan payments to 5% of a borrower’s salary.”

The bottom line

The bottom line

Despite the efforts of the CFP to curb abusive practices in payday payments by proposing stricter screening requirements, money-borrower borrowers can run even greater risks. Although an installment loan requires more time to extend the repayment period, it is also more expensive because payday borrowers are still free to assess astronomical interest rates and would extend over a longer period. (For more, see The best alternatives to payday loans and Beware of guaranteed websites with payday loans .)

How a secured loan can leverage your business

It is not easy to boost your own business when the company is out of cash working capital. At this time, relying on banks can be compromising as they charge high interest. However, there is a low interest alternative that is getting more and more popular among entrepreneurs, the secured loan.

This modality also known as refinancing, since it allows you to exchange expensive debts for another much cheaper one. In addition, it is a way of concentrating multiple debits in a single installment.

Why hire?

  • How Guarantee Loans Work
  • Can I lose good?
  • Can I sell or buy an alienated good?
  • How to hire
  • Where to hire

P or why hire?

There are several reasons and advantages for you to apply for a secured loan and leverage your company.

Starting a Business: If you’re out of money to start a business venture, you can hire low-interest credit and then pay your own profit.

Anticipate receivables: Do you know the situation in which the company sells in the long term, but do you need cash cash? It is possible to advance the value of these installments with a loan. Then you can pay off the debt with the amount received from the client.

Balance cash flow and increase working capital: the resource can help balance how much you get in and how much money out of your business, that is, balances expenses and earnings if there are more expenses than profits. In addition to being an alternative to increase working capital – all amounts used in all operations of the company, from paying salaries and suppliers until you have a reservation for any emergency. This ensures the financial health of the company and is a key step to succeed.

Reforming the company: Generally, a reform demands high amounts and often takes years to person to gather the money needed. With the loan you do it right away and you are slowly taking small installments. This is a good opportunity to invest in new equipment and products.

How Guarantee Loans Work

As the name says, in the secured loan it is necessary to link a good to the contract. It could be a real estate or a car.

It is a way to demonstrate to the financial institution that the operation is low risk . That is, the probability of default is very small, since the client is committed to paying the installments on time.

On the other hand, the financial institution relays customer security and therefore offers much lower interest rates than other loan modalities. In addition, you can also grant longer installment terms.

In technical terms, this procedure is called fiduciary alienation . In which, the indirect possession of a property is transferred to a financial institution in exchange for a loan.

This means that the asset is tied to the institution until you have finished paying all the installments. In the meantime, the owner can usu- ally enjoy the good; living, renting and driving.

Loan limit

The amount released on the loan is defined by the LTV (Loan-To-Value) . This is a calculation that takes into account the customer’s credit analysis and the value of the asset.

Therefore, in order to arrive at this amount it is necessary to analyze the client’s financial situation and make an assessment of the property or car.

To get an idea, the loan with guarantee of property is possible to get up to 60% of the value of the property. In the car loan, you can get up to 90%.

Can I lose good?

This can happen in cases of default . Therefore, it is very important to do a financial planning before hiring.

However, it is not common, precisely because a careful analysis is made to ensure that the client can afford the parcels. The company will make sure the operation is safe for both parties.

It is also important to note that taking the good is the last alternative and is not immediate. There is a procedure followed before you get into this situation.

First, the billing area will contact the debtor. Initially, one seeks to understand and negotiate the situation. If there is any difficulty, it is advantageous for both parties to enter into an agreement for the payment of the remaining installments.

If the possibilities have been exhausted and the client remains in default, the company will send a statement to formalize the beginning of the process. The debtor will still have the opportunity to reverse the situation as the stock runs.

Can I sell or buy an alienated good?

The fiduciary alienation does not prevent the owner from enjoying the property as he wishes, since it continues with direct possession. But to sell, one of the parties involved in the negotiation needs to pay off the debt with the lender. Only after that the property ceases to be a guarantee and can be sold.

How to hire

How to hire

The times of facing queues at agencies and wasting time to apply for a loan were already. Today, you can do much of the process over the internet in a more practical and cost-effective way. See how each step works until you have the money released into the account.

Step by step

Check out the steps to get the money in your account:

  1. Request: First, you can make an online simulation, customized according to the value you need and the value of the asset. Then just apply for the loan by filling out a registration form with some basic information used in the next step.
  2. Credit analysis: In this step, the interest rate, the total value of the loan and the installment, are determined by means of an analysis of your financial situation. Here it is also evaluated if it is possible to lend the desired amount.
  3. Legal analysis and evaluation of the asset: your documents undergo a verification and screening. At the same time, the asset is valued and then becomes the payment guarantee.
  4. Signing of the contract: after everything is approved, the loan formalization document is released for signature.

Once the contract is delivered to the lending company, the credit is released into the account.

It is worth noting that the process may be a bit more time-consuming than other credit lines, but the wait is worth it. This is because interest rates are considerably much lower than other loan modalities. You have access to the best payment terms.

Remembering that having the documentation up-to-date and delivering it quickly helps speed up the process as a whole.

What type of real estate insurance to choose?

During a bank loan, the client must provide a solid guarantee to the organization to accept the request. This guarantee results in a good value asset or borrower insurance.

What to choose between group insurance or individual insurance?

These two types of home loan insurance each have their qualities and flaws. We talk about group loan insurance when it is offered by a subsidiary of the bank. A partner group is responsible for offering the guarantees sought by the lender in return for a contribution. In the past, the client was forced to choose group loan insurance to receive financial assistance from the creditor. Fortunately, this practice is over and the borrower is now free to choose his mortgage insurance provider. This product is characterized by its practical side since it is no longer necessary to look elsewhere. Its only drawback lies in its cost. The mortgage insurance offered by an insurer linked to the bank does not take into account the profile of each client.

The individual insurance is none other than an insurance of real estate credit subscribed outside the bank. The client is insured by an insurer that has no affiliation with the lending institution. Credit insurance is distinguished by a flexible rate that varies according to the needs and profile of the borrower. The contract is also very popular today thanks to this feature. The only downside is at the level of guarantee equivalence. Indeed, the bank has the right not to validate credit insurance when it does not provide the same guarantees as its group insurance. In addition, the presence of a multitude of offers available on the market can disorient the borrower when selecting an appropriate contract.

What is a borrower insurance broker?

There are two ways to make no mistake about the selection of the mortgage loan currently. The first solution is the use of a comparator identical to borrower . The site compares the existing offers and groups the information obtained from the user’s profile.

Similar articles on real estate

The second option is to hire a mortgage insurance broker . The profession of the specialist is to assist his client in the selection phase of a borrower insurance. In fact, the professional’s network of contacts provides him with all the information concerning the most affordable credit insurance of the moment. However, it is better to use the comparator on because the tool is offered free of charge while the broker will claim a fee for its services.

Optimize your real estate debt consolidation on buy-back.


In the case of the Swiss credit

If you need money at short notice, you can borrow money quickly and easily over the Internet today. Thanks to electronic applications and largely automated credit check processes, many credit providers are now able to pay installment credit within 24 hours. More and more consumers are turning to the possibility of bridging short-term financial bottlenecks with online instant loans. Especially in a low-interest phase, it makes sense to take better a cheap installment loan instead of saving a long time on his purchase.

But not everyone who applies for an installment loan, gets one granted. Banks in Germany base their lending on relatively strict criteria. Thus, certain professional groups such as self-employed and freelancers are much harder to get a loan from the bank than other customer groups such as permanent employees or civil servants. For people who have a negative Schufa, the likelihood of a loan commitment even tends to zero – at least in the German credit market. So a negative Schufa entry can quickly make a dash through the bill. Once an invoice is not paid – missed the opposition period – and then you have caught a negative trait in the Schufa. Unfortunately nobody asks afterwards how it happened and who was the culprit. Not infrequently, companies accidentally put a wrong bill. Those who do not become active as invoice recipients within the period of objection risk a negative Schufa, and that often comes at the expense of those affected. Regardless of whether you are looking for a flat or applying for a loan – a negative Schufa entry can often make life difficult for victims. For most landlords and banks in Germany look for new customers especially on a clean Schufa.Even if the bill, which was the reason for the negative entry, has long been paid, the entry remains a total of three full years in the Schufa file ,

So what to do if the bank says no? Unlike banks in Germany, Swiss banks are not soliciting information from the Schufa. Negative Schufa entries thus go unnoticed and thus can not influence the credit decision. If the applicant meets all the relevant requirements, there is nothing in the way of disbursement of the so-called Swiss loan. The sticking point: Compared to the credit check with banks in Germany, an important source of information is missing here to realistically assess the payment behavior and creditworthiness of the applicant. The Swiss bank therefore takes a higher risk than a German bank, which can make a good picture of the applicant on the basis of the Schufa score and the entries noted. This increased risk is compensated for by the Swiss loan on the one hand by relatively strict lending criteria and on the other hand by a higher interest rate .

Strict lending criteria for Swiss credit

Strict lending criteria for Swiss credit

Due to the increased risk that a debt free loan inevitably entails, the Swiss bank wants to protect itself as much as possible against a loan default based on a whole range of criteria. For example, a Swiss loan can only be given to civil servants or permanent employees with a certain minimum length of service with the same employer. Finally, it must be ensured that the borrower is in secure employment and has a regular monthly income. Again, this may not fall below a certain minimum amount. For example, in the case of a Swiss loan with a principal amount of € 3,500, the borrower must be employed by the same employer for at least 12 months and receive a monthly net income of at least € 1,210. If the claimant has one or more dependents in the household, these values increase even more. For the Swiss loan of € 7,500, the borrower must have been employed by the same company for 4 years, and his net monthly income must be at least € 1,860, depending on the number of dependents. In addition, the Swiss bank wants to ensure that the customer has paid off the Swiss loan with a high probability before the end of his life. Therefore, the applicant may not exceed a maximum age of 62 years.

Clearly defined conditions for the Swiss loan

Clearly defined conditions for the Swiss loan

Like the requirements for borrowers, the terms and conditions of the Swiss loan are clearly defined. The maximum amount that can be paid out on the Swiss loan is € 7,500 per person. Alternatively, a Swiss loan of € 3,500 or € 5,000 can be requested. For existing Swiss loans, an increase to a maximum of € 7,500 is possible. The interest rate is uniform for all borrowers and across all loan amounts 11.11% eff. APR. The repayment is made in constant monthly installments, the duration is uniformly 40 months. From the 6th month, the possibility of early repayment is granted. Unlike banks in Germany handle this, the paid-out Swiss credit is not reported to the Schufa and therefore does not appear in the Schufa file.



As the facts show, the Swiss loan places relatively high demands on the borrower. Only persons with a secure employment relationship and good creditworthiness have the chance of a Swiss loan. A negative Schufa does not play a role in the credit decision. Crucial for the Swiss bank is that the borrower is financially able to pay off his monthly loan installments on schedule. For many credit seekers in Germany, which were rejected at your house bank due to Schufaproblemen despite otherwise good credit rating, the Swiss loan can thus be the key from a seemingly hopeless situation.

Although the double-digit interest rate on Swiss credit is well above the interest rate level of many loan offers from online direct banks. But against the background that the financing bank assumes a comparatively higher risk with the Swiss credit – since no Schufa information is obtained, which represents for banks an important indication for the payment morality and creditworthiness of an applicant – the interest premium with the Swiss credit is quite justified ,