SCHUFA Score Tables: Understand the values and impact on credit and finance.
What makes a good Schufa score... and who determines it?
The SCHUFA score is an important indicator that lenders use to do this.
To determine how likely it is that you will be able to repay your debt. Essentially, it is a measure of your creditworthiness.
Table of contents - Schufa score and meaning in 2023 / 2024
- Who sets the SCHUFA score? The score procedure explained - how the calculation works nscores as a table: Schufa score - industry score The SCHUFA score for financial institutions (banks, etc.), if you need a loan: Schufa score table for online shops An example of further classifications analogous to SCHUFA: The CEG traffic light for rating creditworthiness Values that flow into the SCHUFA calculation How can I query my Schufa score quickly and cheaply? FAQ on the SCHUFA scoring table
Who sets the SCHUFA score?
SCHUFA itself defines the exact criteria for calculating the score and changes them regularly. But the general rule is: A good Schufa score is evidence of financial reliability and stability, and such a score is primarily achieved by paying bills responsibly and punctually and by servicing loans.
The score procedure explained - How the calculation works
The SCHUFA (protection group for general credit protection) is a German credit agency that calculates this score. Roughly speaking, a good SCHUFA score is the result of a good payment history.
It is determined by several factors.
- Whether you have paid your bills on time...How much credit(s) you have already taken out...How long have you been a borrower...A regular income and stable living conditions are also included in the assessment.
Schufa score: amount, impact and score tables
The higher the Schufa score, the better: That is the meaning of the numbers in the Schufa score tables.
The higher, the better Schufa score tables: That's behind the numbers
A high SCHUFA score means you are considered a low-risk lender and therefore more likely to get credit or get cheaper interest rates. A low SCHUFA score, on the other hand, can mean that you have trouble getting credit or have to pay higher interest rates.
How important is the score for your credit?
A high score can make it easier to get a loan and can secure better terms, such as lower interest rates. This is because you are then viewed as a lower risk by lenders. The higher your SCHUFA score, the lower the risk for the lender. It is less likely that you will not be able to repay the loan.
On the other hand, a low SCHUFA score can result in loan applications being rejected, or if you do get a loan, it's likely to be on less favorable terms, such as higher interest rates. This is because lenders see you as a higher risk and try to offset that risk with higher interest rates.
It's important to note that the SCHUFA score is just one factor that lenders consider when making the decision. You can also use other information such as your income, expenses, employment status and other financial commitments.
Why is the scoring procedure useful and who benefits from it?
The SCHUFA scoring process has an important purpose: it helps lenders assess the risk associated with granting a loan to a specific person or company. A high SCHUFA score means that the person in question has reliably met their financial obligations in the past, which is a good indicator that they will continue to do so in the future.
What do the numbers say about creditworthiness?
Lenders such as banks, credit card companies and other financial institutions benefit from this system as it helps them make informed decisions and minimize financial risks. It allows them to lend to reliable borrowers and refuse less reliable borrowers or charge higher interest to compensate for the higher risk.
What does the SCHUFA score mean for borrowers themselves?
New textBut borrowers also benefit from the SCHUFA score. A high score can make it easier for you to get credit and possibly get better interest rates. It can also help them better understand their financial health and take action, if necessary, to improve their score.
Basically, the SCHUFA scoring process promotes trust between lenders and borrowers and helps to make the financial system more stable and secure.
5 tips for a better SCHUFA score for consumers
- Make payments on time: Paying bills on time is an important factor for a good SCHUFA score. If you pay loans, rent, mobile phone bills or other obligations late, this can have a negative impact on your SCHUFA report. Don't take out too many loans: If you take out many loans at once, this can have a negative impact on your SCHUFA score. It's a good idea to only borrow what you really need and can safely pay back.Use credit cards wisely: It's important to use credit cards responsibly. High credit card debts or the constant exhaustion of the credit line can have a negative effect on your SCHUFA score. Stable living conditions: Moving often or changing jobs can lead to a worse SCHUFA score. SCHUFA values stable living conditions as a sign of financial reliability. Checking and correcting data: It is important to check your SCHUFA data regularly. Mistakes can happen and negatively affect your score. If you find that your personal data is incorrect / out of date, you should have it corrected immediately by SCHUFA. E.g. contracts, payment history, amount of the claim? Have claims already been settled been noted?
As a consumer, you can have unauthorized or incorrect entries changed or removed. This automatically improves your Schufa score: A lawyer or specialist in the area of the SCHUFA score can provide you with ideal support.
The Schufa base score table - from "very good" to "very bad"
What is a good Schufa base score?
In order to have the best possible SCHUFA score, which has the lowest risk for both sides (e.g. borrower & lender), it should be as high as possible.
How do you get a SCHUFA score of 100?
Realistically, SCHUFA does not have a score of 100%.
Because how is SCHUFA supposed to guarantee that you can reliably pay off a new loan without the risk of default?
Even if you pay off old debts, it can still take years for the score to change for the better. Too many factors can continue to influence the score in the background and lead to "uncertainties" about an improvement.
The SCHUFA base score:
The base score with a scale from 0 to 100% shows the creditworthiness of individual consumers. This value shows, equivalent to the amount, the probability that payments can be made reliably. The higher the better. This value is recalculated every 3 months.
A very good value is over 97.5%
The table with the corresponding base score values:
How long can it take for the credit rating and thus the SCHUFA score to improve?
Check the Schufa score regularly: Checking your Schufa score gives an overview of your current financial health and creditworthiness. You have the right to request a free self-assessment from SCHUFA once a year. This enables you to identify errors in your data and have them corrected if necessary, which could otherwise affect your score. In addition, you can see which factors negatively influence your score and take appropriate measures to improve it.
>> This is how you can query your Schufa score (JUMP MARK)
Pay off your bills and loan installments on time: Late payments, especially loan installments, can have a negative impact on your Schufa score. It is therefore important to always pay bills and loan installments on time. If necessary, use payment reminders or standing orders to ensure you don't miss any payment deadlines.
Limit yourself to a few giro and credit card accounts: Every account or credit card you open is registered by SCHUFA. A high number of accounts can be taken as a sign of financial instability and negatively affect your score. Therefore, it is better to have a few, well-managed accounts.
Avoid unnecessary small loans: Every loan you take out affects your Schufa score. Even if they are small loans, when they occur in large numbers, they can give the impression of financial instability. Therefore, think carefully about whether a loan is really necessary before you take it out.
Avoid overdrafting your account: Repeatedly overdrafting your account can negatively affect your Schufa score as it can be seen as a sign of financial trouble. Always try to keep your account positive and only use overdrafts in exceptional cases.
Make credit conditions instead of credit requests: Every credit request is registered by SCHUFA and can affect your score. However, if you only request information about the terms of a loan, this will not be registered. Therefore, whenever possible, you should make inquiries about credit terms rather than apply for credit directly.
| Score-Wert | Rating // Classification |
|---|---|
| > 97,5 % | Extremely low risk |
| 95 % - 97,5 % | Low to manageable risk |
| 90 % - 95 % | Normal to slightly increased risk |
| 80 % - 90 % | Significantly increased to high risk |
| 50 % - 80 % | Very high risk |
| < 50 % | Extremely high risk |
Please note that these ratings are general and may differ from the actual SCHUFA rating.
Industry scores as a table: Schufa score – industry score
There are different tables: for banks, for online shops & mail order, for telecommunications companies.
SCHUFA keeps various industry scores available in order to better reflect the different needs and risk assessments of the industries. These specific industry scores enable even more accurate risk assessment for lenders and other companies. Here are some of the top industry scores:
Bank Score: This score is calculated specifically for banks and other credit institutions and is designed to assess the risk of lending.
Mail Order Score: This score is calculated for mail order companies and helps assess the risk of a customer not paying their bills.
Telecom Score: This score is calculated for telecom companies and provides an indication of how likely it is that a customer will pay their phone or internet bill.
Insurance Score: This score is calculated for insurance companies and helps them assess the risk of a customer not paying their insurance premiums.
Each of these scores takes into account different aspects of a customer's creditworthiness, enabling companies to better manage their risks and make informed decisions. It is important to note that these scores are updated regularly to reflect changes in a customer's financial situation.
This means "overt negative features"
Factors that count toward overt negatives include various types of current and past debts, unpaid or late bills, and installment payments where consumers have defaulted and failed to pay their obligations on time. In addition, opening many checking accounts or using too many credit and checking cards has a negative effect on your creditworthiness
The SCHUFA score for financial institutions (banks, etc.) if you need a loan:
This differs. Namely, whether they have no "open negative features" or just do.
The industry score for your next loan from a bank if you have NO overt negatives:
| Rating | Scorewert | Risk ratio in percent |
|---|---|---|
| A | 9.863 – 9.999 | 0,8 |
| B | 9.772 – 9.862 | 1,64 |
| C | 9.709 – 9.771 | 2,47 |
| D | 9.623 – 9.708 | 3,1 |
| AND | 9.495 – 9.622 | 4,38 |
| F | 9.282 – 9.494 | 6,21 |
| G | 8.774 – 9.281 | 9,5 |
| H | 8.006 – 8.773 | 16,74 |
| I | 7.187 – 8.005 | 25,97 |
| K | 6.391 – 7.186 | 32,56 |
| L | 4.928 – 6.390 | 41,77 |
| M | 1 – 4.927 | 60,45 |
If you have open negative characteristics, it looks like this with your industry score for banks when you apply for a loan.
| Rating | Scorewert | Risk ratio in percent |
|---|---|---|
| N | 4.112 – 9.999 | 48,47 |
| O | 1.107 – 4.111 | 77,57 |
| P | 1 – 1.106 | 96,08 |
The Schufa score for telecommunications contracts
When you sign a new mobile phone or DSL contract, your creditworthiness will be checked. General for new mobile phone contracts (with or WITHOUT a smartphone)
If you don't have negative characteristics, the industry score for telecom contracts looks like this:
| Rating | Scorewert | Risk ratio in percent |
|---|---|---|
| A | 9.877 – 9.999 | 0,6 |
| B | 9.787 – 9.876 | 1,49 |
| C | 9.724 – 9.786 | 2,39 |
| D | 9.621 – 9.723 | 3,16 |
| AND | 9.459 – 9.620 | 4,66 |
| F | 9.181 – 9.458 | 7,28 |
| G | 8.607 – 9.180 | 10,49 |
| H | 7.725 – 8.606 | 17,76 |
| I | 6.856 – 7.724 | 28,73 |
| K | 6.094 – 6.855 | 35,97 |
| L | 4.681 – 6.093 | 44,97 |
| M | 1 – 4.680 | 60,59 |
The industry score for your next telecommunications contract if you have open negative characteristics:
| Rating | Scorewert | Risk ratio in percent |
|---|---|---|
| N | 3.288 – 9.999 | 50,37 |
| O | 231 – 3.287 | 88,15 |
| P | 1 – 230 | 99,34 |
Schufa score table for online shops
Before making a purchase, online shops and mail order companies check whether the approval is associated with risks or not. If the quota is too high, the retailer can reject the purchase on account.
No open claims or obstructive negative features
| Step | score | Schufa risk quota |
|---|---|---|
| A | 9,974–9,999 | 0,14 % |
| B | 9,952–9,973 | 0,35 % |
| C | 9,937–9,951 | 0,53 % |
| D | 9,918–9,936 | 0,66 % |
| AND | 9,886–9,917 | 0,86 % |
| F | 9,825–9,885 | 1,22 % |
| G | 9,647–9,824 | 2,34 % |
| H | 9,437–9,646 | 5,30 % |
| I | 9,279–9,436 | 7,73 % |
| K | 9,006–9,278 | 10,26 % |
| L | 8,078–9,005 | 15,81 % |
| M | 1–8,007 | 35,94 % |
Negative features such as outstanding receivables from companies in the online shipping and online trade & shopping industry
| Step | score | Schufa risk quota |
|---|---|---|
| N | 3,208–9,999 | 49,16 % |
| O | 283–3,207 | 88,72 % |
| P | 1–282 | 99.54 % |
An example of further ratings similar to SCHUFA: The CEG traffic light for rating creditworthiness
Creation of the CEG score:
In contrast to the well-known SCHUFA score, the CEG score is not only calculated based on past payment histories. The CEG traffic light is also based on findings from representative groups of people and other individual information from Creditreform. https://www.creditreform.de/
The CEG traffic light is a representation of the Schufa score used by CEG Creditreform Consumer GmbH. The Schufa score is visualized in the form of a traffic light to make the creditworthiness of a person quickly recognizable. The traffic light consists of the colors green, yellow and red, each representing different ratings:
- Green: Good credit ratingYellow: Limited credit ratingRed: Critical credit rating
The CEG traffic light serves as a simple visual representation of the Schufa score and gives a quick overview of a person's creditworthiness. However, it is important to note that the exact calculation of the Schufa score and the evaluation criteria are set by CEG Creditreform Consumer GmbH and may deviate from the standard Schufa ratings.
Values included in the SCHUFA calculation
How could you positively influence the Schufa score values in the table?
Check the Schufa score regularly: Checking your Schufa score gives an overview of your current financial health and creditworthiness. You have the right to request a free self-assessment from SCHUFA once a year. This enables you to identify errors in your data and have them corrected if necessary, which could otherwise affect your score. In addition, you can see which factors negatively influence your score and take appropriate measures to improve it.
>> This is how you can query your Schufa score <<
Pay off your bills and loan installments on time: Late payments, especially loan installments, can have a negative impact on your Schufa score. It is therefore important to always pay bills and loan installments on time. If necessary, use payment reminders or standing orders to ensure you don't miss any payment deadlines.
Limit yourself to a few giro and credit card accounts: Every account or credit card you open is registered by SCHUFA. A high number of accounts can be taken as a sign of financial instability and negatively affect your score. Therefore, it is better to have a few, well-managed accounts.
Avoid unnecessary small loans: Every loan you take out affects your Schufa score. Even if they are small loans, when they occur in large numbers, they can give the impression of financial instability. Therefore, think carefully about whether a loan is really necessary before you take it out.
Avoid overdrafting your account: Repeatedly overdrafting your account can negatively affect your Schufa score as it can be seen as a sign of financial trouble. Always try to keep your account positive and only use overdrafts in exceptional cases.
Make credit conditions instead of credit requests: Every credit request is registered by SCHUFA and can affect your score. However, if you only request information about the terms of a loan, this will not be registered. Therefore, whenever possible, you should make inquiries about credit terms rather than apply for credit directly.
How long can it take for the credit rating and thus the SCHUFA score to improve?
The score does not increase immediately after incorrect entries or data have been removed or even adjusted. The industry score is recalculated daily. The Schufa base score, on the other hand, is only reclassified every 3 months. You therefore need patience and ideally professional advice so that no adjustment screws are overlooked.
How can I check my Schufa score quickly and cheaply?
In Germany, every citizen has the right to request a free self-assessment from SCHUFA once a year. This means that you can check your Schufa score and all stored data free of charge once a year. This free information contains information about your personal data stored at SCHUFA, as well as about companies that have made inquiries about your data.
In order to receive such a free self-assessment, you must submit an application to SCHUFA. This application can be completed and submitted online on the SCHUFA website. You must provide your full name, address and date of birth. SCHUFA will then send you your information by post.
For more extensive or more frequent queries, SCHUFA offers fee-based services, such as the SCHUFA creditworthiness check or the SCHUFA package "MeineSCHUFA compact". These enable regular access to your score and, for example, send you notifications when your score changes.
It is important to note that when applying for a self-certification, you should be careful not to inadvertently select a paid service. The free self-disclosure can be found on the SCHUFA website under the designation "Data copy (according to Art. 15 DS-GVO)".
FAQ on the SCHUFA scoring table
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