ZEK: your credit history & bad credit
When you apply for a loan in Switzerland, the basic concern of the banking institutions will be to assess your degree of solvency: are you able to repay your loan ? Do you want to get a loan with a bad credit history ?
This is where the ZEK (credit information centre) (in french) comes into play: it is the Swiss central file on solvency information originating from the credit-related activities of private households.
Personal loan, lease, credit cards
Know that the ZEK is responsible for collecting and classifying all information linked to these activities, regardless of whether they are positive or negative. The ZEK then provides sole access to this information to authorised members of the financial sector, which use this data for each loan application.
Everything is carefully filed away!
But what type of information does the ZEK record about you?
- All of your outstanding commitments and/or those that you have taken out in the past
- Whether or not you have correctly honoured each of your commitments
- All of your loan applications, stipulating whether they were accepted or refused
With too many refusals or negative entries, .
Banking institutions therefore have access to your entire behavioural history with regard to credit, recorded in the form of codes. Discover the different codes that exist and which one are bad credit.
Mandatory point of passage before making a decision
The content of your ZEK history will therefore significantly influence the bank’s decision on whether to grant your loan application.
If your file, for example, contains late payments, a same application submitted to several different banks or commitments that are too great, you get what is called a bad credit record and your loan apply may be refused.
CC Crédits Conseils SA: access to the ZEK
As an approved service provider in the financial sector, CC Crédits Conseils SA is permitted to view the ZEK data in the same respect as banks.
With perfect knowledge of the multiple acceptance criteria applied at the different banking institutions, we will immediately know:
- Whether or not your file contains elements encouraging acceptance
- To which financial institution you should direct your application based on your history in order to maximise your chances of acceptance.