From Schufa entry or note with other credit bureaus a lot depends on consumers. If he is informed of a bad credit rating, it will be difficult for them to arrange a loan or make larger purchases online. What is stored at Schufa and Co., interested parties can query once a year by their right to information. But the information is partly full of defects.
Credit, mobile phone contract, home, online shopping – Often the Schufa information decides whether customers are creditworthy . But who knows as a consumer, what the various credit bureaus have stored? A look into the own information can answer this question. The right to information provides consumers with free information once a year . However, interested parties with the letter of Schufa and Co. can not always do something. This is shown by a recent study by Stiftung Warentest for the Finanztest issue 02/2016.
A total of five companies were reviewed. The focus was on how understandable the self-reports are. The Schufa (protection association for general credit protection) still performs best. Nevertheless, it is far from easy to quickly understand the information provided by your own information.
Schufa entry: readability only sufficient
Those who exercise their right to information, according to financial test of the Schufa receives the most understandable letter among the tested companies. But the text structure is confusing, the font too small and the information poorly structured, criticizes the consumer organization. The most important value, the so-called base score , can be found in the running text again. It tells you how likely it is that the customer pays. A score of 50 to 80 percent means, for example, that there is a very high risk of insolvency. 95 to 97.5 percent, however, express a low or manageable risk.
Take advantage of the right to information: own information of many companies with low content
Overall, the Schufa scores “good” because of the high information content, even if the readability was only rated as “adequate”. Even better would have been the test result, “if the own information had informed in more detail about the possibility of how consumers can correct, delete or block false information .” Online informed the information that sufferers can contact them in writing to clarify any discrepancies ,
Apart from Schufa, only the company Infoscore Consumer Data can convince with a “satisfactory” judgment regarding the clarity of the information. Bürgel, Boniversum and Deltavista are just “sufficient” in the opinion of Stiftung Warentest. In particular, an own information from the last credit agency hardly helps consumers. The letter consists of a page that reflects personal data, data source and score. However, a probability value informing whether customers are contractually paying is missing.
Hidden free Schufa information
Consumers who exercise their right to information must be cautious on the Schufa website. Because the credit agency offers in this respect two offers: the data overview according to § 34 BDSG and “my Schufa compact”. Only the information according to the Federal Data Protection Act is free.
What data does the Schufa store for how long?
How a Schufa self-disclosure can look like, for example, shows the consumer center Bremen by example. It can be seen that the protection community stores various data, such as
- Personal Information
- bank accounts
- Installment transactions
- Duration of the loans
These data are deleted after different time periods . The information on loans, for example, remains stored for about three more years after the loan has been fully repaid. Earlier addresses will be deleted only two years after notification of the new place of residence.