How can I improve my SCHUFA score?

You rarely can improve your SCHUFA Score scores overnight. But you can can take some basic steps to help improve your creditworthiness over time if you:

  • Always pay your bills on time.

  • Repay your credit loans and close them. Even if they have zero balance they count: closing them improves your score.

  • If you have 3-4-5 loans running, especially for small sums, it affects the Schufa in a such a negative way that it may thwart your loan combination. You should close them at least 2 month before the mortgage application to be on the save.

  • Credit lines should definitely not be overdrawn.

  • If an invoice or instalment has not been paid in accordance with the contract, this should be remedied as soon as possible.

  • Keep balances low on credit cards and other revolving credits.

  • Pay instalments of any kind always on time, and in line with the contract.

  • Keep the overall amount of financial obligations proportionate to your income or assets.

  • Don't apply unnecessary for new credits, especially if there is a risk of rejection.

Before applying for a mortgage we do suggest that you obtain your SCHUFA report (on-line at MeineSchufa.de) and check it for accuracy and see if there are problems that may reduce your chance of a mortgage at the best interest rates. If you find incorrect information, you can request a correction in writing. You can also get one in-person at participating Postbank and Volksbank locations.

Note: In some other countries, where there is detailed information about the way the credit scores are compiled, the advice is typically to use your credit card regularly, and pay your monthly balance promptly or even early. This is seen as the quickest way to build up a positive credit score, while avoiding any negative items resulting from late or non payment.

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