Payday loan with Credit Bureau
The financial market is probably the most liberalized market in the Federal Republic. Numerous providers compete with each other and fight for every customer. They always develop new offers, the names of which are sometimes somewhat misleading. One example is the payday loan with Credit Bureau, which is a misleading term for all the terms it contains.
What exactly is a payday loan with Credit Bureau?
A distinction is made between loans whether they are earmarked or freely granted. A typical loan is a car loan. The money may only be used to purchase a car. This purchase must be proven. The earmarked loans therefore usually bear their intended purpose in their name: car loan or, for example, construction loan. It is different with free loans. The banks there assume that it is the private matter of the customer what they do with the money and therefore call the loan a payday loan. It is not a loan from a private person, as is often assumed.
If the payday loan is granted with Credit Bureau, this means that your own entry in the protection association for general credit protection is also consulted before the loan is granted. This is a Credit Bureau risk assessment for the bank and states whether the loan applicant can, in the eyes of the protection community, pay the loan applied for or not. A payday loan with Credit Bureau therefore requires a “clean” entry with the protection community. The common mistake here: with Credit Bureau would mean “knowing that the Credit Bureau entry is too bad”. But this would be a payday loan without Credit Bureau.
How do you find the best payday loan with Credit Bureau?
The advantage is that there is hardly a loan that is more reputable than a payday loan with Credit Bureau, which is why many groups of very different directions (foundations, financial service providers, private individuals, etc.) have set themselves the goal of comparing private loans and making recommendations in this way to be able to know which ones are particularly good and which are not. You can find many of these comparisons on the Internet, which usually also list details of the loans. In this way you can quickly find the loan of your choice.