The most important to the Creditend 1000 Euro loan:
- 1. Yes, Creditend really offers free credit – 0% credit – and sometimes even a mini credit!
- 2. With our Creditend credit experience, we clarify what to look for
- 3. You only get the loan under the right conditions
Creditend is a reputable supplier, which we have extensively tested in an article about our Creditend experiences. From now on Creditend offers the loan at 0 percent APR in the credit comparison and sometimes even at a negative interest.
1. Yes, Creditend really offers a free credit!
In the Creditend credit comparison calculator you can easily find the cheapest loans. Here is “cheap” meanwhile almost understated, because the calculator can now even find loans to 0 percent, in regular actions Creditend even goes down to a minus interest. You pay less than you have borrowed!
The Creditend advertising on TV and Internet promises so incredible: a loan to 0 percent! That means: One lends 1000 euros and pays back only 1000 euros. For a short time, Creditend even offered a -4% interest loan, so you even pay less than you borrowed.
What the Creditend advertisement is not mentioned, however, is that not everyone gets the credit and it is difficult to see through who is rejected and who is admitted. In many cases, it can also be that instead of a 0% loan, you simply get suggested a few alternatives where the interest rates look quite normal.
2. With our Creditend credit experience, we clarify what to look for
The conditions are clearly defined – the 0 percent loan is available for a sum of 1000 euros over 36 months for free use. The button immediately takes you to the top offer of Creditend. All you have to do is state the sum and the term, then wait for a cheap loan offer.
But how can it be that a loan is actually brokered at 0% interest? There must be a catch somewhere? We have applied for the loan so we can take a close look at the final contract.
We became skeptical when we saw exactly how the 0% annual percentage rate came about : First, the borrowing rate is 3.70%, then the customer receives an interest subsidy of 3.70% from Creditend, resulting in 0% interest. How can it be that Creditend subsidizes the customer without any benefit?
According to this information in the contract also eliminates the agency fee for the 0% loan offer. We’re looking for and searching, but in fact we do not have a catch – it actually seems like it’s just a way to attract new customers.
The offer is really as good as it seems, and you simply hope that customers who perceive the 0% and are satisfied come back later. This applies to the loan comparison as well as to the bank behind the offer. Nevertheless, for more information, we recommend reading our Creditend Credit experience.
At the same time, however, the customer is also required a lot in terms of disclosure of data, as this section of the offer is clearly showing. There is no option to disagree with individual points.
One agrees with a small tick directly to 4 detailed and complicated documents, which are not further explained, which we at least find problematic.
In addition, of course, a good Schufa is required to get this loan. We also have a detailed article on how to obtain information about your own Schufa and how the Schufa is calculated.
3. You only get the loan under the right conditions
At the very end, however, we finally found a small rift in the façade of the offer : First of all, not everyone gets the credit, of course, but only customers who have a reliable credit rating. Because a loan default would be here for the banks, of course, a total loss. And anyone who does not get the credit has sent their data to the bank and is thus sure to make a not insignificant amount of new promotional offers.
Probably that is one of the reasons for this offer from Creditend: It should attract potential customers, of which then – already calculated – many do not really get the 0% credit, but just a number of alternative offers, which they will then hopefully.
In the end, though, one has to say that the disadvantages are more than limited and one can well think about getting a 0% credit.
The loan is available only through Creditend and not through the bank itself. Ultimately, the money comes from the Fidor Bank and so here comes a deal between broker and bank the private customer.
Alternatively, our credit comparison offers the opportunity to quickly find the next best credit on the best terms.