Credit bank certificates: free credit check.On January 4, 2020 by admin
The peer-to-peer concept is becoming increasingly popular. Here, loans are granted from private to private. Since lending to banks is often associated with a certain amount of bureaucratic effort and the credit request for many people is ineffective, the online credit marketplace Bestbank tries to help precisely these people in borrowing money. It is thus possible for loan seekers whose loan requests have been rejected by their bank to get a loan even with a poor Credit bureau score. Investors can in turn support Bestbank borrowers with their investments and benefit from a high return.
Bestbank certificates – what has changed?
In this context, the term “certificate” comes up again and again. Initially, the Bestbank certificate was part of the crowdlending company’s concept. Bestbank certificates could be bought to show their own creditworthiness more positively. It was thus possible to request the Credit bureau score, the elibrary info score, the personal CEG traffic light, and other creditworthiness criteria in order to publish them on the online credit marketplace in your own projects.
Although the purchase of Bestbank certificates was not mandatory, it restricted transparency and created a certain imbalance among borrowers. To reduce this imbalance, Bestbank took action in 2013: Everyone who was interested should be able to publicly present Bestbank certificates, ie their credit rating information, at no expense.
On the one hand, it is easier for investors to better assess the risk of investing in a project, on the other hand, every investor has the same conditions to get a loan. The Bestbank certificates have thus been replaced by free credit information, which has advantages for both investors and borrowers.
“Bestbank is a rip off” – accusations out of date with new Bestbank certificates
Initially, borrowers had to pay money to collect credit information, which has not been the case since 2013. At that time, Bestbank introduced a new fee model. This means that loan requests for borrowers and money investments for private investors are completely free until the financing of the loan project. Only after a loan has been financed 100 percent, will there be costs that you can see in full at Bestbank costs.
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