You have made the loan comparison on our site and have found the loan that could suit you? However, you may also wish to have the specific conditions for your individual loan compiled by several providers from the comparison results? This makes sense, because only in this way you can really determine in the end, which credit partner really offers the best conditions for your loan request.
You can only make a comparison if you have several loans with individual conditions at hand. In order to receive the offers, you must necessarily apply for the loan free of charge at several banks. Each of these banks automatically performs a query at SCHUFA to determine your creditworthiness. One thing first: a credit request is not a negative record! But what actually happens to this request once it has been made? Exactly at this point the difference between a credit inquiry and a condition inquiry becomes noticeable.
The most important at a glance
- Both the credit and the condition request are stored in your SCHUFA report for up to one year.
- Only the credit inquiry affects the evaluation of your creditworthiness and that only if several inquiries are made within ten days.
- The entry of the condition inquiry takes place schufaneutral. This means that although it is stored, it will not affect your rating or your credit rating. does not affect your credit rating. Read more about "What does "neutral" credit inquiry mean??" here.
Isn't that just another term for the same thing?
Basically, credit and condition inquiries differ in several areas. First, classic condition requests are anonymous (as is the case in our loan calculator). Because here only the general credit conditions such as loan amount, term and intended use of a bank are queried. A condition inquiry in the broadest sense is made when you enter your loan request in the loan calculator and then have the conditions of various banks thrown out by the comparison calculator. This general information has nothing to do with the SCHUFA, but gives you a free overview of the available installment loans.
Of course, this information will only help you to a limited extent. For many banks that offer you creditworthiness-dependent interest rates, you will then find information such as
Interest rate: 4% – 12% depending on creditworthiness
This information will help you to decide whether the bank's offer is suitable for you or not. So that you can find your optimal loan you need from the lender further credit details. For this, you yourself must provide additional information to the bank or. send to us. For an individual credit offer you must also provide your personal data. Because only in this way can a bank determine what conditions can be offered to you. It seems logical that a bank can only make an offer if it knows who would like to apply for the loan in the first place.
Once all the important information has been collected, the bank will usually contact SCHUFA to find out whether you are actually creditworthy or not. have the necessary credit rating. On the one hand, this is necessary to ensure the repayment of the loan and on the other hand, to meet the legal obligations. This is how the legislator wants to prevent consumers from getting themselves completely into debt.
At this point, banks and credit institutions have two options to declare their request to SCHUFA:
- Request credit (mark AK)
- Condition inquiry (mark KK)
What is the effect of the different characteristics?
If you calculate the online loans in our credit comparison, this has no effect on your SCHUFA. You can use our credit calculator as many times as you like. Once you have chosen a bank or. If you have decided to apply for a loan with a lender, you must submit a loan application to the lender in order to receive your personal interest rate. So that the respective bank can verify you, it makes a condition inquiry at the SCHUFA, which behaves schufa-neutral.
Ask z. B. another bank, this bank will also submit a condition inquiry to SCHUFA. However, it is not reported back that you have already submitted a condition request to another bank. In essence, the condition inquiry is only about the verification of your person and the verification of your liabilities. Current loans, for example, are all stored at SCHUFA. With an inquiry at SCHUFA, banks can quickly check whether your information in the loan application was correct and you have also indicated all loans that are stored in SCHUFA.
With this we have already briefly described what the entry "inquiry credit" means. This is a qualified credit inquiry. You have filled out the bank's credit application and sent it back to the bank for a final decision. Should one inquiry be a binding credit inquiry for you. If the credit is approved by the bank, the entry for the awarded credit is made in the SCHUFA and is thus visible to all who retrieve a SCHUFA inquiry about you.
It is somewhat more critical if such a binding credit request has been made, entered and rejected by the bank in the last move. The reasons for this can be varied, but at first glance it looks like you have either provided false information and do not have the necessary creditworthiness. Once a request has been rejected, you should not immediately submit another credit request.
Credit expert tip: Each binding credit request is stored at Schufa for one year. If several inquiries accumulate within a period of ten days, this has a direct impact on the evaluation of your creditworthiness. As you can imagine, several binding credit inquiries indicate a poorer credit rating. In practice, people only make multiple inquiries if banks have previously rejected credit applications. Therefore, be sure to read our tips on "What to do if the loan was rejected?"
This means in a concrete example
You are looking for a small loan for the purchase of a used car. The first thing to do is to contact your house bank. Here you provide all the necessary information, prove your income and present your identity card. The bank consultant takes everything so far and passes your inquiry on to the credit department for the final decision. The "credit inquiry" is reported to Schufa.
After the appointment with your bank, you have three more bank appointments for further credit offers. At these three banks, you also submit your proof of income and provide the appropriate signatures. In the end, the SCHUFA receives four messages with the mark "inquiry credit. All four banks are thereby reported to take out a total of four new loans and as a result your SCHUFA score decreases.
The consequences of several binding credit inquiries
Several credit inquiries within a comparatively short period of time can lead to banks offering you worse interest rates based on your lowered SCHUFA score. Because any binding credit request can cause your SCHUFA score to deteriorate. In the worst case scenario, a credit application may even be rejected outright because your credit score has suffered significantly from multiple simultaneous inquiries.
How to prevent false flags?
If you do decide to take out a loan with a branch bank, it is important to note that the request should be reported to SCHUFA for checking your creditworthiness as a condition request.
If you want to make sure that's exactly what happens, you should do the loan comparison with us. In our credit comparison, all banks carry out a condition inquiry. Even if you receive credit applications by email or mail, you haven't completed anything yet and nothing has been entered anywhere. Only when you decide on a lender and accept the credit offer in writing, the respective lender reports the mark "application credit" to SCHUFA, before not!