Credit even in difficult cases in Austria - 3 options
In various life situations, one needs financial support. Loans can be the perfect solution for this. However, it becomes difficult if the banks reject the application. It doesn't matter whether you are surprised by bills, your studies take longer than planned or your employer unexpectedly declares insolvency. There are many cases in which money is suddenly needed quickly. Life situation and creditworthiness play the most important role in granting a loan. Pensioners, trainees and the unemployed are often seen as difficult cases. A KSV entry or a bad credit rating also complicate the project. Nevertheless, it is not impossible to get a Credit also in such difficult cases in Austria to be obtained.
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As credit are available even in difficult cases in Austria mainly Mini loans or special Credit cards available. In this article you will learn everything you need to know about the Lending in difficult cases in Austria need to know.
When is it difficult to get a loan in Austria?
Many criteria must be met in order to obtain a loan in Austria. For trainees, students, the unemployed, pensioners, the self-employed and workers on probation, it is difficult from the outset. Next, the loan amount plays a decisive role. A trainee with, say, 700 ? net income will not get a loan from providers such as Cashper* easily obtain a loan of 1,000 ? 1,500 ? However, for large sums, most applications are rejected. Further problems have students and pupils. Without a scholarship, they often do not earn money. Fortunately, there are several institutions that still allows learners to get a loan.
Get credit in difficult cases in Austria- Our 3 options
1. TF Bank Credit Card - Get credit in difficult cases in Austria.
Trustpilot: 4.6 stars from over 414 reviews
With TF Bank credit card you can borrow money for free up to 51 days. At the beginning you have about 1,000 ? at your disposal. Depending on your creditworthiness, this can be a little more or less. If you pay your installments on time, TF Bank will increase your card limit in the second and third month. On top of that, you get free travel insurance abroad.
Advantages of TF MasterCard Gold
- Interest-free purchases up to 51 days
- Up to 10.000 ? in loans possible
- Automatic increase of the credit line, in case of timely repayment
- Free travel insurance
- No opening fee and no annual fee
- No foreign currency fee abroad
- Application possible with medium credit rating
- Contactless payment through NFC chip
Disadvantages of TF MasterCard Gold
In addition to the numerous advantages, the TF Bank credit card also has some disadvantages that allow unproblematic use only well-organized people:
- No direct debit of the open balance
- High interest rate for installment payment after 51 days
- Cash withdrawals must be paid by the 20th of the month, later payments lead to high costs.
- No app
- Desired PIN not possible
- No support for Google Pay or Apple Pay possible
2. advanzia credit card - get credit in difficult cases in austria
Trustpilot: 4.5 stars from over 13,100 reviews
At Advanzia free you have to pay your expenses only 7 weeks later. Thus, the delayed repayment date gives you a interest-free loan of up to 1,500 ?, which can be used as an alternative to the mini loan in Austria. As with the Cashper Minikredit, the Advanzia Free Card does not require an excellent credit rating. If you have a negative KSV record, you can still get the Advanzia free card approved. Nevertheless, the Cashper loan more likely to be granted in difficult casesthan the Advanzia card.
Advantages of Advanzia Free
- Free credit card without annual fee
- In addition, up to 1.500 Euro Credit line possible
- Thereby you get an up to 7 weeks interest free loan due to delayed repayment.
- Credit card transactions do not have to be settled until the end of the month after next. If you buy something with the Advanzia free Card at the end of the month, you have a free loan of about 7-8 weeks.
- Also with poor creditworthiness and despite negative KSV entry possible under certain circumstances (approval is Cashper, more unproblematic)
- Nevertheless, an application Without a permanent job possible
- and a Part payment option (optional) is also available
- Furthermore you can welwide free cash withdrawal
- and receive a Free travel insurance on top
Advanzia Free disadvantages
- Disposal limit only low at the beginning
- At least medium credit rating is a prerequisite for approval
- No payment by direct debit, so disciplined handling necessary: You have to pay the invoice by bank transfer from your specified billing account. You will receive the invoice by mail at the beginning of the month. I recommend a note in the calendar and strict discipline.
3. cashper mini loan - get credit in difficult cases in austria
eKomi: 4.7 stars from over 2,500 reviews
Up to 600 ? You can borrow money for free via Cashper even in difficult cases. Cashper is one of the best known providers of mini loans in Austria. And not without reason, because the offer to borrow money for free is unique.
- With a mini loan from Cahsper, borrowing money is possible even in difficult cases in Austria. Simply borrow up to 1,500 ? despite negative KSV entry and bad credit rating!
- For trainees, students, unemployed, pensioners, self-employed and workers in probationary period
- Cashper is cheap (up to 600 ? credit even free), pays quickly and gives loans to Austrians despite KSV entries!
- Bridge 15, 30 or 60 days with a mini loan
- 100 - 1.500 ? become even in difficult cases immediately transferred to the account
Advantages cashper mini loan in Austria
- Small amounts up to 600 ? can be borrowed for 30 days free of charge
- Approval in case of poor creditworthiness and negative KSV characteristics
- Lower interest rates than the alternatives via credit card
- Request Without a permanent job possible
- Only 700 ? minimum income required, every other bank refuses long ago
Disadvantages Cashper mini loan in Austria
- Special options such as instant payout and 2 installment option are very costly.
Credit check: An insurmountable hurdle at most banks if the loan is to be granted even in difficult cases in Austria
Another aspect is the general evaluation criteria. Before a bank grants a loan, the applicant is thoroughly checked. Proof of income is already a hurdle for many. The loan installment must be secured by regular salary. Also the sum must fit to the income of the borrower. Those who cannot afford the loan at all will not get it. In difficult cases, a Guarantee by third parties. Furthermore, collateral such as cars, real estate, shares or insurance policies can have a positive effect on the credit rating.
Advanzia credit card as an alternative to Cashper mini loan in Austria
The Advanzia Credit Card Free is cheaper for amounts above 600 ? and therefore preferable to Cashper Minikredit: If you pay all installments on time, the Advanzia card gives you a free loan for up to 7 weeks. That a very good Alternative to Cashper loan. The Cashper mini loan for Austria on the other hand, is still unbeatable for loan amounts below 600 ? You should note that Advanzia rejects people with poor creditworthiness, which is Cashper does not make.
TF Bank's offer is similar to Advanzia's in many respects. You also get a credit card with a medium credit rating. The credit line can be up to 10,000 ? Can 10,000 euros still be considered an alternative for a mini loan? Be that as it may, most customers with a medium credit rating will probably receive around 1,000 ? which is why this is not relevant anyway. The credit line is provided free of charge for up to 51 days. After its expiration, however, iron discipline is necessary in order not to fall into the debt trap, because all bills must be transferred manually without direct debit. In case of default, very high interest rates may be charged.
What does the credit protection association do?
Since 1870, the Credit Protection Association for security in the financial world. The organization can be compared with the German ?Schutzgemeinschaft für allgemeine Kreditsicherung? (SCHUFA) and the Swiss ?Central office for credit information? (ZEK) can be compared. The credit protection association maintains an immense database of creditworthiness data. It collects data not only on private individuals but also on companies, thus ensuring transparency. A KSV entry provides information about the past payment history of the person or company.
How to get a KSV entry?
With a negative KSV entry it is already more difficult to get a loan. There are many reasons how to get a negative entry:
- Insolvency proceedings
- Seizure or foreclosure
- Card misuse
- Unpaid reminders
- Regularly overdrawn current account
These entries count as difficult cases beed in granting loans. As soon as there is a risk for the banks, they reject the application. At the same time, every bank in Austria performs a KSV query before approving a loan. Therefore, with a negative KSV record, one will not get a loan from a bank in Austria. Nevertheless, as a difficult case, one has other options.
4 ways to get a loan in difficult cases despite KSV entry
Private loans
Private loans can help the person out of a jam, as they are often obtained despite the KSV entry. Therefore, in this case, you should first ask family and friends for support. Since these loans are given on a basis of trust, the credit rating and thus also a KSV entry do not play a role.
With a Credit without KSV entry the KSV is not queried. You only have to be able to prove that you can pay the loan installment.
Credit applications without KSV are usually only approved by foreign banks. A negative KSV entry does not have to have a negative impact directly. A credit check can be positive despite a KSV entry if, for example, past loans were always paid on time. Furthermore, not all negative KSV entries are relevant for the granting of the loan. For example, if you have a bad KSV score due to numerous credit cards, you will also get a loan from Austrian banks. Provided that you have always paid all debts on time.
Suppliers like Cashper* are a good alternative to loans without KSV entry from Switzerland due to the lower costs and short terms.
Difficult special case: obtaining loans despite unemployment
Unemployment often comes as a surprise and can affect anyone. Decisive for the granting of a loan is on the one hand the duration of unemployment and on the other hand the relationship with the lender. Since in this difficult case the bank must issue a loan on a basis of trust, you should first try your own house bank. The chance is much higher with the house bank, because it has already collected important information about the borrower for years. If there have been no payment problems in the past, nothing should stand in the way of the loan being granted.
Nevertheless, these loans can be rejected in very difficult cases. There are then not many alternatives left. Next, you should definitely ask your private environment. If this option also falls away, there still remains the loan from providers such as Cashper*. With this provider, taking out a loan is possible from an income of 700 ? Unemployment benefits from AMS also count as income.
Self-employed count as difficult cases when it comes to granting credit
There are many risks behind self-employment. External influences such as unpaid bills or extended projects can cause bottlenecks. Many banks have an offer for self-employed borrowers. Nevertheless, it often fails because of liquidity. The following four criteria facilitate borrowing for the self-employed:
- Company exists longer than 24 months
- Collateral such as real estate, insurance or property (e.g. machinery)
- Profits in recent years
- No insolvency applications and KSV entries
Instant credit without credit rating in Austria
Fortunately, today there are many providers who grant a loan immediately and without a credit check. The so-called Instant loans are easy to apply for with a positive credit rating and are usually granted without any problems. Getting an instant approval without a credit rating is extremely difficult in Austria, but not impossible. One possibility is, for example, the small loan from cashper.at*. There you can take out a loan of up to 1,500 ? even in difficult cases. The operators of cashper.at have only one condition: They must trust the borrower that he can also repay the loan. Therefore, the applicant must be at least 21 years old, have permanent residence in Austria and earn at least 700 ?
A KSV query is performed, but the rejection criteria are significantly lower than with banks. In addition, the interest rates are not as high as with private providers. Therefore, cashper.at represents a good middle ground between low-cost banks and simple private providers.
However, in the case of loans without credit rating, you need to pay attention to some factors. The risk of the lender is very high. Therefore, often overpriced conditions are required. With a Loan with instant approval without credit rating you have to be aware that higher interest rates will be charged. Reputable providers will not grant loans without creditworthiness anyway, as the risk then becomes incalculable. It's best to stay away from these offers, because it can happen that you only have to pay fees without ending up with a credit to be obtained.
In the case of loans despite negative KSV, one must beware of dubious offers. If the lender demands a high advance payment because of the bad credit rating, alarm bells should ring.
Loans in very difficult cases
If one is considered a difficult case for the banks, the private environment cannot facilitate a loan and also a Mini-credit is no longer sufficient, you have a serious problem and hardly any options.
In this case, you have to ask yourself whether you can really handle the loan installment and whether another solution is not better. If you still need a loan, lenders abroad can be helpful. The credit protection association has no say in lending abroad. For example, if you have sufficient solvency, you can get a loan in Switzerland. Without solvency, however, it is also hopeless there. The Swiss loans are usually expensive and have high interest rates. Therefore, one should consider this option only in very difficult cases. For example, after having failed both at the TF Bank* as well as with Cashper* has already been rejected.
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