The creditworthiness of the citizens is determined and recorded by the SCHUFA (protection association for general credit protection). The credit check is used to determine whether the person is authorized to take out a mobile phone contract or a loan. Once a year, every consumer has the opportunity to have the so-called self-assessment issued by SCHUFA free of charge.
What does the self-disclosure include?
The SCHUFA information is measured using scores and probability values. It should be noted that the height of the numbers plays an important role. The higher the better.
The self-disclosure is divided into three areas as follows:
All important data such as name, birthday, data record number and address are listed here. If the person has already moved several times, SCHUFA still insists on a correct and complete record of the place of residence. Furthermore, the consumer sees the last date of his self-disclosure on the cover sheet.
Credit history with the base score
Not only consumers themselves, but above all companies make inquiries about the data from SCHUFA. This allows lenders to review general customer data. This means: When the applicant takes out a loan, a credit check can be requested from the bank. The customer is of course notified by a list of all incoming inquiries.
The so-called base score is also given. As already mentioned, the size of the numbers is decisive for solvency. With a score over 97.5%, there is hardly any risk. For example, a value of 90 to 95% is considered a satisfactory to increased risk. However, a score of 50 to 80% carries a very high risk of insolvency.
If the value is below 50%, the full loan is rarely taken out.
The last page has a complete table of consumer scores. This information was passed on to SCHUFA by banks, insurance companies and companies. In the event of changes in the credit-related area of the users, the directory will be updated accordingly. All current accounts, loan payments and credit card use are provided here.
In the "II current probability list" you can find the categorization of the industries, for example insurance or telecommunications companies. A direct comparison of the score values is not possible, as the evaluation models are industry-dependent and thus applied differently.