Credit Score is an online service provided by Lender family. Consumers can use the service to regularly request their own credit for free, so they are always informed about their own credit rating. This is important, as the credit rating is not only the basis for the granting of credit, but sometimes also the promise of particularly favorable conditions influenced. When determining the credit score, the online service works together with infoscore Consumer Data GmbH. In addition to your own free credit check, the calculation of a personal account score is also offered.
The online service Credit Score
Launched in 2015 by Lender family, the service works with information agency infoscore Consumer Data, a subsidiary of arvato Financial Solutions, based in Baden-Baden. Through the credit bureau, which is one of the largest credit bureaus in Germany besides Bank, Credit Score obtains the necessary information to determine the creditworthiness of consumers.
Credit Check Online: How Does Credit Score Work?
Register without obligation and for free with a few mouse clicks on Credit Score. Register as a new customer by entering your personal data and choosing your access data. Then carry out the identification via mobile TAN and security check of the ID data.
Immediately after signing up, anyone interested in the score can check their creditworthiness at any time. The free credit check can be carried out quite easily from home or on the move via laptop, tablet or smartphone and thus allows regular monitoring of the credit rating. The Credit Score App facilitates the easy credit check online without a separate login.
Using scoring, a mathematical-statistical calculation, the so-called credit score is calculated, which allows statements about the risk of default. The score does not refer to the payment behavior of a single person, but to a comparative group of persons with the same or similar characteristics. The scoring process uses historical data to deduce similar events in the future.
Who was the service of Credit Score for?
Anyone who is at least 18 years old, has an ID card of the Federal Republic of Germany and is registered in Germany, can immediately request free credit information via the online service. In addition, the user must have a mobile phone, as this is needed to legitimize the person. First and foremost, the tool is designed for individuals who want to test and improve their credit rating.
Why the credit rating is so important?
Credit scores make a statement about the probability of a payment behavior of private persons and thus form an important information basis for credit decisions. The credit rating is therefore an elementary criterion for many consumers and entrepreneurs to decide whether a loan is granted and on what terms. Not only in connection with banking transactions, creditworthiness is crucial, for example, more and more landlords require a proof of credit from potential new tenants. The better the score, the higher the probability of winning the contract for an apartment.
If, during the online credit check, you find that you are not creditworthy due to negative features, there are some tips and tricks that you should follow to improve your Bank score. Overall, you should pay attention to contractual behavior and settle invoices and installments on time, in order to prevent the emergence of negative features.
How reliable and reliable is Credit Score?
Credit Score obtains the credit rating data from the credit reporting agency infoscore Consumer Data GmbH. Here, for example, information is stored on which banks a consumer keeps accounts, which mobile phone contracts have been concluded or whether judicial dunning procedures are in place.
Since credit reference agencies in Germany in addition to the publicly available sources, such as the Federal Gazette or publications of the commercial register, data on different contracting parties relate, stored with the different credit bureaus data on consumers in the rarest cases are completely congruent. It can easily happen that, for example, the Bank has more or different data available about consumers than other credit bureaus. Based on the data stored at infoscore Consumer Data GmbH, Credit Score offers consumers a good and reliable overview of their own creditworthiness.
The data on consumers are strictly confidential data, which are treated accordingly sensitive. If a consumer requests a credit check, the data transfer takes place exclusively via a secure, encrypted SSL connection. Users can also be sure that the data will not be passed on to third parties for advertising purposes – negative experiences with the use of Credit Score will be prevented accordingly.
What distinguishes the free credit checks of information from other providers?
For example, if consumers collect a credit report from the Bank, this is once a year free of charge. Any further Bank credit report can be viewed immediately upon payment. If multiple credit checks are needed, then this can quickly go into the money. Remedy, not only in connection with the costs, creates here the online service of Lender family:
Registration and use are free of charge at any time. There are no hidden costs – Credit Score is really free.
Immediately after signing up, you can simply call up your own credit score online. The annoying application for a credit report is omitted, since the creditworthiness can be checked online at any time. The Credit Score App facilitates access to your own user account. With a single click you can query your own creditworthiness without much effort. Annoying research and waiting for an information account.
- For sure
The transmission of confidential data is done exclusively via encrypted SSL connections.
Regular newsletters on creditworthiness are issued via newsletters. In addition, you always have an up-to-date overview of your creditworthiness and your account movements. In addition, you will receive advice on optimal account usage.
Account analysis with Credit Score
In addition to the credit score, the online service “My Rate” offers consumers the service to analyze their own finances. For this, the so-called account score is determined on the basis of existing account movements.
The account score is designed to optimize consumer account management for the effective use of one’s own finances. This is an optional offer. In the case of a desired use of the service, the Credit Score access and the online banking tool are coupled with each other, so that the sales are evaluated in terms of efficiency. Users then receive information directly on their smartphone via push notification. For example, the Credit Score Application informs you when a user has reached the account, when cash receipts occur, or when there are problems with the payment process.