More and more citizens make use of the opportunity to compare the numerous offers on the market before taking out a loan. In most cases, a so-called loan calculator is used, which offers online anonymously and free of charge the opportunity to compare some 30 or more different loan offers.
However, from the perspective of some experts, credit comparisons have the disadvantage that they are mostly confined to the bank’s terms, ie, the effective interest rates to be paid and any fees to be paid in connection with the borrowing. However, more and more consumers want to compare services and services of the banks, so that they inform themselves in forums about the respective lender.
Rating forums on the internet shoot out of the ground
In recent years, the number of rating forums that exist on the Internet has increased significantly. Such forums now cover nearly all subject areas, so that there are also special financial forums where consumers can exchange views on banks, brokers and other financial service providers.
There are even very special credit rating forums where virtually every citizen has the opportunity to comment on a loan, or even just a loan request he has made to a bank.
Experts see such forums, however, rather critical, because on the one hand, on the one hand often give deep insights that could not be realized by a credit comparison. On the other hand, however, the opinions expressed in the forums are often very subjective and at least partially distorted or deliberately presented too negative.
Disappointed loan seekers usually give bad reviews
Why the reviews in such forums can be helpful on the one hand, but on the other hand often give a distorted picture of the respective financial service provider, can be illustrated by the example of a loan seeker.
In particular, customers who do not have a good credit rating because, for example, a negative Schufa entry exists, often experience a rejection of the loan application with banks. If the customer now has such a negative experience for him, which, however, objectively considered quite understandable, he will certainly express in a rating forum no positive criticism of the lender.
It is rarely mentioned why the bank actually declined the loan application
However, it is rarely mentioned why the bank actually declined the loan application, because it lacked its own credit rating. Thus, other credit seekers may find that it is very difficult to obtain a loan from this particular bank. This image is then distorted, however, because the rejection of the application was based solely on the insufficient creditworthiness of the customer and was therefore correct.
This is just one example of reviews that distort reality and, as a result, are not really helpful to other consumers. So you have to have a good instinct and be able to read between the lines, if you actually want to take a rating forum in the financing area as a basis, whether to decide against or for a particular lender.