April 17, 2024, 6:17 am | Read time: 4 minutes

The Schufa is a German credit bureau based in Wiesbaden. Its main activity is to collect, store, and manage information about consumers’ creditworthiness. This helps banks, landlords, companies, and other institutions assess the credit risk of consumers. You can also simulate your Schufa score to be prepared for any unpleasant surprises.

Simulating Your Schufa Score Is Easy

Whether you get the desired rental apartment or private leasing for your car depends, among other things, on the evaluation. How Schufa calculates your creditworthiness and how you can improve it is explained on this page, where you can simulate your Schufa score.

You can use the online test on smartphones, tablets, or PCs in all browsers. You answer seven simple questions and receive a rough assessment of your creditworthiness based on the answers. It is only a simplified simulation and mainly serves for self-assessment.

Simulating Your Schufa Score in 7 Steps

The test is quickly completed and runs in seven short steps. Information on the most important influencing factors is queried to simulate the Schufa score. At the same time, users can read in info boxes how the respective topic affects creditworthiness. These include:

1. The Checking Account

The longer you use your checking account, the more experience you have in meeting your financial obligations, according to Schufa. This positively affects the score. However, multiple accounts can worsen the score. The reason is that checking accounts are often overdrawn, which can lead to financial burdens, especially with many accounts.

2. The Number of Credit Cards

Using a credit card can also positively affect your Schufa score after a year. The longer the card is used, the more likely payments are made reliably. However, according to Schufa, having more than two credit cards can lead to more payment defaults, which tends to have a negative impact.

3. Taking Out Installment Loans

Taking out installment loans can be a financial burden, especially if several loans are taken out in quick succession. This can negatively affect the score. However, according to Schufa, regular repayments improve the score over time. Once the last installment is paid, the score is often better than before the loan was taken out.

Read also: What Does Schufa Know About Me?

4. Real Estate Loans

Despite the financial burden that a real estate loan entails, it generally has a positive effect on the score, according to Schufa. This is because the bank conducts a thorough credit check in advance. Additionally, the property serves as collateral for the bank in case the owner encounters payment difficulties. 

5. Shopping Online on Account

Especially for first-time customers who choose the invoice option when shopping, some retailers conduct a credit check because they ship the goods before receiving payment. Buying on account is essentially like a short-term loan. According to Schufa, people who frequently shop online on account have more payment defaults.

6. Frequency of Moves

Most people move once in their lifetime. However, staying at the same address for a longer period can positively influence the score. According to Schufa, recent moves are associated with an increased risk of payment difficulties, which negatively affects the score. The impact of moving on the score decreases over time.

7. Payment Defaults

Unpaid bills despite repeated reminders lead to a negative entry in the Schufa, significantly worsening the score. Only when the debts are settled does the score improve. According to Schufa, the settled payment default is stored with an exact date for another three years. Only after this period does it no longer affect the score.

Once you have simulated your Schufa score, you receive a summary of your answers and a score rating from “Insufficient” to “Excellent.” The check is free and requires only a few clicks. The whole process takes just a few minutes.

With material from dpa