Fewer rejections and better interest rates - thanks to independent credit counselling

Before you apply for a personal loan online or directly at a bank, you should seek advice. With independent credit counselling, you can reduce rejections of your loan application and increase your chances of getting a better loan rate.

Are you planning to apply for a personal loan in the near future? Or have you already applied for a loan and been turned down? In both cases, independent credit counselling can help. How? Find out in the next two sections.

How to prevent your loan application from being rejected

By asking professional credit counsellors such as those from credXperts for advice, you can prevent your loan application from being rejected unnecessarily. This is because these independent credit advisors know the guidelines of the individual lenders in detail and know which credit providers are suitable for you and vice versa. In addition, the credit advisors can optimise your credit rating (= solvency/creditworthiness) by clearing up your credit rating. Such a credit rating adjustment increases your chances of obtaining a personal loan.

Another advantage of independent credit counselling: you get better interest rates for your loan because the independent credit counsellors carry out a loan comparison with various Swiss banks and thus find the best offer for your loan.

Loan declined: What are the reasons for this?

If you have applied for a loan online or directly at a bank and have been rejected, these reasons may have led to this:

• Insufficient creditworthiness: Your creditworthiness does not meet the requirements of the bank with which you have submitted your loan application. There may be a negative report on your payment behaviour on file with the Central Office for Credit Information (ZEK). This can be remedied by a credit rating adjustment.
• Age: In Switzerland, you can apply for a personal loan between the ages of 18 and 70. Above or below this age, loan applications are rejected. Find out more in our article about the age limits for loans.
• Requested loan too high: A loan amount that is too high for you to pay after deducting your expenses from your income is often a reason for rejecting a loan application.
• No regular employment relationship or income: Anyone who cannot provide proof of a regular employment relationship and/or income risks having their loan application rejected.
• Temporary employment, probationary period or company loan for the self-employed: If the loan term lasts longer than a temporary employment, the risk of a loan default is very high for the lender. The same applies if you are still in the probationary period for a new job or have been self-employed for less than three years.
• False information: A credit application must be completed truthfully. Errors or even false information can lead to the loan application being rejected.
• Other loans or financial obligations such as leasing: If you are currently paying off other loans or have leasing contracts to fulfil, this reduces your chances of obtaining another loan. This is because the Consumer Credit Act (CCA) stipulates that no one in Switzerland can become overindebted.

To find this out, credit counselling is also worthwhile for you in retrospect: +41 44 244 34 00.

Successfully apply for a personal loan with credXperts

The experienced credit consultants at credXperts know the Swiss credit market inside out. Thanks to this concentrated expertise, they achieve outstanding results for borrowers and therefore the best loan with the best conditions.

At credXperts, you benefit from favourable loan interest rates thanks to comprehensive interest rate comparisons and the many years of experience of our loan experts. You also benefit from these advantages thanks to the experience of our loan advisors:

• 10+ years of experience
• 72 % Authorisation rate
• 10 minutes to the right offer
• 5+ counselling languages

Get advice on your personal loan today: : +41 44 244 34 00.

Successfully apply for a personal loan with credXperts

Fewer rejections, better interest rates: with independent credit counselling from credXperts, you increase your chances of obtaining a personal loan.

Learn more now