Role of Credit Scoring and Reliability in Loan Approval
- Risk Assessment Through Bank Scoring
- Key Factors: Stability, Marital Status, History
- Verify Your Data with Credit Agencies
Scoring answers the following questions:
Banks use tools based on statistical methods to assess your risk profile and determine your trustworthiness. Based on this analysis, a bank may decide:
Here are the main elements that influence your scoring:
Swiss banks use several databases to verify your financial history, such as:
The ZEK (Central Office for Credit Information) records your credit history with codes that may impact your future applications. Key codes to know include:
These codes remain recorded for 1 to 5 years, depending on their severity.
If a code penalizes you, you can request a free ZEK extract once a year to review the recorded information. If you find an error, you can contact the relevant bank to attempt a correction. However, these codes are typically justified and are difficult to remove.
You have the right to request a free extract once a year from agencies like ZEK, CRIF, or Intrum Justitia to see what information is recorded about you. These data include your credit history, any debt collections, or certificates of unpaid debts. Reviewing this information helps you verify its accuracy and address errors with the responsible organization. Regular monitoring can help you manage your credit history and avoid surprises during future loan applications.
In order for your credit application to be accepted by the banking institution that will receive your file, you therefore understand the importance of being advised to match the lender's scoring.
Thanks to our years of experience and the good relations we have with financial institutions, CC Crédits Conseils SA is familiar with the procedures of each financial institution as well as the criteria that influence up their scoring.
This is why we have a success rate above market average for the applications we file with the selected financial institutions.
To learn more about the criteria for obtaining a loan in Switzerland, it’s important to understand that lenders consider factors such as age, employment status, and residency. Find out in detail how these rules influence your chances of obtaining a loan by visiting the linked page.
Put your trust in the experience of Crédits Conseils – without obligation and with zero risk.
Request
Request your loan by using the online form or by calling us.
Complete your information and send your documents
Submit the mandatory documents and relevant information we need to assess your loan request.
Assessment and offer
Final response in less than 24 hours after receipt of the needed information, mandatory documents and a complete review of your solvency.
Contract signing and disbursement of your loan
Swift disbursement after you sign the loan contract and the consequent 14 day right of revocation (cooling-off-period).
Calculation example
Loan of CHF 20'000. An effective annual interest rate between 4.9% and 10.95% and a term of 48 months generate total interest between CHF 2'018.10 and CHF 4'549.60. Term: 6-120 months; Maximum annual interest rate (including all credit charges) 10.95%. The granting of a loan is prohibited if it leads to the over-indebtedness of the consumer.(Art. 3 LCD)