When talking about mothers’ credit, it’s not about a special loan, but about a normal installment loan that mothers just want to borrow. Whether they get it depends essentially on how their initial situation is. Is it a married or a single mother, how many children does she have and is she working? These are the questions that play a role in mothers’ credit.
Single mothers, who are also inactive, find it difficult to apply for a loan. The bank will grant you, if any, credit only if a solvent bond goes into the contract.
The situation is better for mothers who are married or living in a marriage-like community. You have the option if the bank requires you to take the partner into the contract. Although many mothers need credit for mothers alone. This has to do with equal rights and emancipation.
However, in the end, free disposable income and credit bureau information count. Mothers who are working and still earn well, get a loan from each bank.
The modalities for the granting of credit
If a mother raises unemployment benefits or Hartz IV and may only have a 400 USD job, there will be nothing to do with the credit for mothers. Why this explains itself. Although some mothers think they have enough money available, because they receive child benefits and child support in addition to the benefits. The only problem is that this income is not an attachable income. Therefore, it is not relevant to a credit decision. Mothers in this situation need a solvent guarantee in any case.
Working mothers who work part-time or full-time are also finding it difficult to get a loan. As a rule, the disposable income is not enough.
Only the better earners among the mothers, there are also, but not so many, have better cards at the bank when they apply for a loan for mothers. With high income and clean credit bureau information, the banks also provide lone mothers or married mothers with a loan, without a guarantor being requested.
Do not forget the credit comparison
Because mothers are not as often confronted with loans as fathers or men should be referred again explicitly here, how important a credit comparison is. There are banks that demand high interest rates and banks that lend their loans at particularly favorable terms.
A free credit comparison can quickly find out which bank lends cheap credit. Above all, the approval rate can also be seen through the credit comparison. This number in percent indicates something about the probability of approval. Mothers should always apply for a loan with a bank that has a relatively high approval rate. This increases the chance of obtaining a loan.
Credit for mothers from private
An alternative is to seek a loan for mothers on financial portals that provide private loans. Here, the decisions of private investors are often based on emotions and not just on economic aspects. Of course, private investors want to see their money again with interest and compound interest. But the odds for middle-income mothers are greater at Smava or Auxmoney than at traditional credit providers.