How can I get my good credit rating back?

Credit rating is the term used to describe the creditworthiness of a person or a company. The opposite to this is the probability of payment default. Credit rating is calculated from several factors, including age, occupation, marital status, income, assets, debts, etc. For a company, the business concept, equity backing and liquidity all play a role.


Why get your good credit rating back?

A good credit rating is important when applying for credit. Whether this application is approved or not depends on the credit rating, for consumers as well as companies. And it plays a role in the terms and conditions. Simply put, a bad credit rating makes a loan more expensive. But companies also check the credit rating of their business partners for other business. For example, those who are not considered creditworthy often receive a mobile phone contract under different conditions, or the payment terms are adjusted to safe payment methods.


How does a bad credit rating come about?

For consumers, a bad credit rating primarily results from past payment behaviour. Someone who has met his obligations in time, has no debts and has been with the same bank for years, usually has a good credit rating. But factors such as age, residential environment or employer can also play a role.

Companies and banks enquire the credit rating of a consumer or business partner with credit agencies. The most widely known credit agency is Schufa. It stores information and uses such to calculate a factor to evaluate creditworthiness.


How can you get your good credit rating back?

A consumer has no influence on most of the factors. How old you are, what profession you work in, whether you are employed or self-employed - you cannot change these much. However, you can still take some measures to get your good credit rating back. Firstly, you should submit a subject access request to the bes known credit agencies and check if all the details they have are correct. If you have applied for credit with several banks, for example, this can temporarily impact your credit rating. Such enquiries typically remain in the system for 12 months and affect the creditworthiness of the customer. If during the conversation the bank employee clicked on "request credit" instead of clicking on "request credit terms" in the computer programme, credit agencies cannot tell that the customer only wanted an offer. The only thing to show up is that the interested party has enquired about credit. It will remain unclear why he did not get or take the credit. The consumer gets a poor rating. If such erroneous data is found in the system, one can usually have this corrected with a written request. The credit agency then asks the banks to check the facts and ideally they would set it right in the system. In some cases, however, the customer needs to contact the banks himself and ask for the data to be corrected. Additional information on how to get your good credit rating back can be found at