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Earlier quoted context omitted.
It isn't. I financed my phone for free via Klarna. I could easily pay it at once but why would I. In the end I save a bit because of inflation.
> I financed my phone for free via Klarna So how do they make money? Sounds like they would be losing money to inflation by offering that service for free.
I don’t know how it’s in other countries, but Schufa is a monopolist and feels like simply paying a tax. You have no choice. Interestingly, I didn’t need a credit check to rent in Belgium and Denmark.
It looks more like the Mafia. You pay a protection tax but this does not guaranty anything.
Earlier quoted context omitted.
It isn't. I financed my phone for free via Klarna. I could easily pay it at once but why would I. In the end I save a bit because of inflation.
Unless either your salary or the price of the phone increased in those months, you didn't save anything.
1. The chance, weighted by amount, of a price hike/salary increase
2. The chance, weighted by amount, of a price decline/salary decrease.
As inflation is generally an upward trend, clearly no. 1 is more likely and thus the best bet.
When I moved to Berlin after having lived in London, my Schufa was thus as pristine as possible - simply because I had no German credit history to begin with.
What surprised me about Schufa is that the certificate it provides only states that you didn't have any defaults or delinquencies in Germany. That's quite different from a credit rating in the US sense that you can build up by consistently borrowing and repaying over time. When I moved to Berlin after having lived in London, my Schufa was thus as pristine as possible - simply because I had no German credit history to…
I don’t know how it’s in other countries, but Schufa is a monopolist and feels like simply paying a tax. You have no choice. Interestingly, I didn’t need a credit check to rent in Belgium and Denmark.
A country like the Netherlands has its own issues (mainly housing) but doesn't have the myriad of pain points you can find in Germany like Schufa, anti-customer contract rules, or public healthcare inaccessible despite paying more than 400€/month for it as a single individual.
Earlier quoted context omitted.
It isn't. I financed my phone for free via Klarna. I could easily pay it at once but why would I. In the end I save a bit because of inflation.
Unless either your salary or the price of the phone increased in those months, you didn't save anything.
We found a workaround and ten years later the house is paid off, just for illustration of how predictive that report was. I'll cheer for whoever takes on and fights Schufa, always.
I don’t know how it’s in other countries, but Schufa is a monopolist and feels like simply paying a tax. You have no choice. Interestingly, I didn’t need a credit check to rent in Belgium and Denmark.
might be worth fixing the problem all together by making it easier to kick out people who don't pay rent.