Retrieve Schufa data for free: How to use Bonify

by times news cr

Creditworthiness ⁢in view

Schufa data can now be accessed free of charge​ – here’s how it works


29.11.2024Reading time: 2 min.

Schufa self-disclosure: Users will‍ be able to view their‌ creditworthiness data free of charge ⁤in the⁣ future. (Source: Guido Schiefer/imago-images-bilder)

Schufa simplifies⁤ access to creditworthiness data.For ⁤the first time, consumers are given free access⁤ to their ⁢stored facts.

Schufa Holding AG, Germany’s best-known⁣ credit ‌reporting agency, has taken a ⁣big⁢ step towards ‌openness and ⁣will in ⁢future make their personal creditworthiness data available to consumers digitally⁣ and free of charge. ‍Using the ⁣app from ⁢the Schufa subsidiary Bonify,users now have access to ⁢their ⁣stored data around the clock.

the new function ⁢allows consumers to check twelve⁢ months ‍retroactively which companies have ​requested‌ information about them from Schufa. As Schufa announced ⁢in⁣ a press release, the insight also‍ includes ‍details on existing contracts⁣ such as​ credit cards, current accounts, installment and real estate loans. This information was previously only accessible via ​free data copy by post or via paid Schufa subscriptions.

To use ‌the new​ features, consumers must first register with​ Bonify and confirm their​ identity.⁣ This is done either with an eID card or an electronic ID card (issued after ‌2017) in conjunction⁢ with an NFC-enabled smartphone.

The Bonify app, which has belonged to Schufa as 2022, has enabled users to view their individual Schufa base score since mid-2023. since January 2024, users have also been able to check⁤ their​ negative entries. ‍Since June 2024,⁣ a free notification​ service has provided⁢ information about‌ new entries.

Tanja Birkholz, CEO of Schufa, explains: “We are very pleased‍ that, thanks​ to Bonify, we have succeeded in taking this further step ⁢towards digital transparency of the data stored at Schufa.” The⁣ data​ is updated quarterly. If you need up-to-date information, you will still ⁢have to use paid subscription services.

The​ app also has ⁤a⁤ “Report Bug” feature. Users ⁣can then‍ point out incorrect entries directly and are redirected ⁤to the⁣ Schufa ⁤help portal, where they can⁢ have their data corrected or updated.

At the same time,schufa​ is working on simplifying its scoring system. In ⁤the ‍future, the new score will have significantly ‍fewer influencing​ factors. instead of up​ to 50 parameters, ⁣only 10 to 15 factors should be included ⁣in the evaluation. This fourth generation of the Schufa‍ score ⁣is currently in⁢ the growth and testing phase.

how⁤ can individuals effectively monitor their ⁢creditworthiness using Schufa data?

Title: Understanding‌ the Implications of free Access to Schufa Data

Interviewer⁣ (Time.news Editor): Welcome‌ to Time.news. Today, we have an exciting‍ topic to discuss: the recent⁤ change allowing individuals ⁢to access their Schufa creditworthiness data ‍for free. Joining‌ us is Dr. Anna Weber, a creditworthiness‍ expert and finance professor.Thank‍ you for being here, Dr. Weber!

Dr. Anna ⁤Weber: Thank you⁢ for having me! I’m thrilled⁢ to discuss this critically important development.

Editor: Let’s dive right in.For⁣ those who might not⁢ know,⁤ what is Schufa,⁣ and why is⁣ it critically important ⁣for⁢ consumers?

Dr. Weber: ⁤ Schufa, or ⁣the “Schutzgemeinschaft ‍für Absatzfinanzierung,” is Germany’s leading credit ⁢bureau. ⁤It collects and maintains data on individual credit histories, including loans, ⁣credit cards, and payment behaviors. ⁣This information is crucial for lenders when⁢ determining⁣ the ⁤creditworthiness of consumers.Essentially, it affects whether someone‍ gets ‍approved‍ for a ‌loan or a rental agreement.

Editor: It sounds like⁤ access to this data is vital for consumers.⁤ Now that⁣ it’s ‌available for free, ‌what‍ do you⁤ think ⁢this means⁤ for individuals?

Dr. Weber: absolutely. Free access ⁣to schufa‍ data empowers individuals to take control of their financial health. They can monitor their creditworthiness regularly, ⁣identify ⁣potential errors in their reports, and ‌address issues proactively. It enhances transparency, allowing consumers to better​ understand​ what lenders see ‌when they evaluate credit ⁢applications.

Editor: That’s a significant shift! What⁣ steps do ‌consumers need to take to access their Schufa data now?

Dr.Weber: Consumers can access their Schufa data online by visiting the official ‌Schufa website. They’ll need⁤ to‍ provide ⁣some ​personal information to‍ verify their identity. Once authenticated, ‌they can view their credit report, which gives insights into ‍their credit score ‍and other relevant data.

Editor: It ‌seems fairly straightforward. How ⁣do you foresee this change impacting the lending landscape?

Dr. Weber: ⁤I anticipate that lenders may become‍ more⁤ cautious, as individuals can now‍ more⁣ effectively challenge ‌inaccuracies in their ⁢credit reports. This may push⁢ lenders to adopt fairer lending practices, knowing ‌that‌ consumers are informed and can advocate for themselves.We might ⁣also see a​ potential‌ decrease⁣ in⁣ high-interest loans, as consumers ​will be more selective and informed.

Editor: That’s a positive⁤ outlook! However, there are⁢ concerns about data ‌privacy and security. How can consumers ensure their data remains protected when accessing ⁤their ⁢Schufa information?

Dr. Weber: That’s an excellent point. Consumers should only use official ‍Schufa channels to access their​ data. They should ⁢also be vigilant about any phishing attempts and avoid sharing personal information unnecessarily. Regularly monitoring not just their Schufa data, but other financial accounts ​can enhance their overall ⁢security.

Editor: ⁢Privacy is indeed critical.As we wrap up, what final advice would you give to our readers regarding managing their creditworthiness?

Dr. Weber: My main advice is to be proactive. Regularly check your ​Schufa data, understand​ your‌ credit score, and make informed financial decisions. If you see discrepancies, take action instantly. Building ⁢and maintaining good credit takes time, but it’s well worth the⁣ effort​ in the long run!

Editor: Thank you so ‌much for sharing your expertise, Dr. Weber. This information‍ is ‍invaluable‍ for those looking⁢ to take control of ⁤their ​financial ‍futures.

Dr. Weber: Thank you for having me! It’s been a pleasure discussing such an important topic.

Editor: And⁤ thank you to our readers for joining us today. Stay informed,and until next time,take care!

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