Friday , August 19 2022

Switzerland does not take reminders seriously


Switzerland believes that reminders, payment orders and lost documents are irrelevant to the evaluation of their credibility.

A representative survey by online comparison service reveals that there are significant gaps in the knowledge of the Swiss population on personal financial data. Half of the respondents believe that reminders, payment orders and lost documents are insignificant to assess their credibility.

He thinks there's no execution at 30 percent. In Ticino, more than half of the population. For credit card, loan, or leasing applications, more than one-fifth of the denied claims believe there are other reasons than the credibility of the credit card.

13 percent with negative credit decision

According to Comparis, about 13 percent of Switzerland made a negative credit decision. Almost one-third are not aware that bad credit ratings are rejected.

The situation with credit card references is similar. 12 percent of respondents failed to apply for a credit card. Doubts about the quarter are reasons other than the inadequate credit rating for rejection. For refused tenants, fifth.

"Every credit card, credit or leasing application requires a credit check, a credit check," explains banker Dominik Weber at The value of payment is distorted among other things by repetitive reminders, payment orders, loss certificates and debt collection. This affects daily life, such as online shopping.

Accordingly, credibility data are used to check whether companies have sufficient payment behavior. If this is not the case, the "pay to account" option will not even appear. "By requesting credit data, companies are assured that they can minimize payment defaults," Weber said.

No idea about credit rating

The fact is that consumers in this country only know little about credibility. At the same time, there are concerns about data confidentiality: 68 percent of respondents think that the desirability of credit data should be evaluated critically for confidentiality. More than 70 percent agreed that providers could reduce risks such as credit notes or credit defaults.

In addition, two-thirds stated that the demand for credit data protects consumers from excessive indebtedness. Piy The demand for credit data is really central in the credit market, We Weber said. In order for the borrowers to be effectively protected against excessive borrowing, it is not enough to demand credit data alone. The expert simply says that the realization of the income and expenditure situation in a realistic way will protect the borrowers from the debt helix.

The representative online survey was conducted by the market research institute on behalf of Comparis in October 2018 among 1047 people in all regions of Switzerland. (ZAS)

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