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 and Reliability: Understanding Your Credit Profile

Scoring answers the following questions:

Are you a reliable person?
Will you honor your commitments?
Will you manage your finances responsibly?

Banks use tools based on statistical methods to assess your risk profile and determine your trustworthiness. Based on this analysis, a bank may decide:

To accept or reject your application, even if the budget calculation is positive.
To set the interest rate and the amount granted.
To cap the approved amount.

Factors Considered in Scoring

Here are the main elements that influence your scoring:

ZEK Applications: The number of rejections and information about your current or settled commitments.
Professional Stability: The longer you stay with the same employer, the better.
Residential Stability: Living at the same address for a long time improves your scoring.
Marital Status: Being married scores higher than being single.
Age: The older you are, the better your scoring.
Budget Margin: The greater your repayment capacity, the better the loan conditions.
Debt Collection History: Any collection must be removed from the register to avoid impacting your scoring.

Credit History and Monitoring Agencies

Swiss banks use several databases to verify your financial history, such as:

CRIF: This database contains records of debt collections and certificates of unpaid debts. All entries must be cleared to obtain a loan.
Intrum Justitia: Used to analyze credit history in Switzerland.
Schufa: For German citizens, scoring data may be checked here
IKO: The Swiss Information Center for Consumer Credit records loans, leasing, and credit cards, including store cards.

ZEK Codes That Matter

The ZEK (Central Office for Credit Information) records your credit history with codes that may impact your future applications. Key codes to know include:

Code 00: Minor payment delays.
Code 03: Significant delays in credit or leasing payments.
Code 04: Reduced installments requested due to financial difficulties.
Code 05: Total or partial loss for the bank due to stopped payments.
Code 09: Attempted fraud (false information or document forgery).

These codes remain recorded for 1 to 5 years, depending on their severity.

Codes Specific to Credit Cards

Code 21: Payment arrangement on a credit card.
Code 22: Card blocked due to exceeding the credit limit and non-payment.
Code 23: Total or partial loss for the bank on a credit card.

Addressing ZEK Codes

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.

Did You Know...

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.

Increase your chances of acceptance with Crédits Conseils SA

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.

How to obtain a private loan in Switzerland?

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.

Lending Criteria

Your loan application in 4 steps

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).

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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)