In particular, those consumers who may have a negative entry into the Schufa or for other reasons having difficulty obtaining credit from a bank can sometimes come up with some unusual alternatives. Admittedly, so-called “schufa-free loans” or “personal loans” granted through credit marketplaces offer financing alternatives even for such customer groups.
However, some consumers are looking for other ways to capitalize on what they lack, for example due to a liquidity shortage. A very imaginative variant, which is definitely not always allowed, is applying for as many credit cards.
Many credit cards are provided with credit limit
Nowadays, consumers are inundated in part with loans and credit cards. Whereas in earlier times credit cards were almost exclusively given directly by the principal bank, nowadays many companies have decided to place their own credit cards in cooperation with certain banks.
Particularly popular are the so-called co-branded credit cards, for example, carry the company logo and the customer discounts promised when purchased by means of the credit card at the corresponding company or a service is used.
Many of these credit cards are also provided with a credit limit, which can be between 500 and several thousand euros depending on the income of the cardholder. In not a few cases, however, the credit card limit is also automatically entered, without the issuer being even aware of the income situation of the cardholder.
Multiple credit cards can result in high total limits
For example, if you need capital of 5,000 euros, but you are afraid to get a rejection from your bank, you might well get the idea to apply for several credit cards. For example, if four credit cards with a limit of 1,500 € provided, the respective credit card limit could be exhausted, and already the consumer would have the desired 5,000 euros together.
However, such an approach is only permissible on condition that the consumer also sees himself able to return the claimed credit limit at some point in the future.
Those who consciously make debts
However, those who consciously make debts and already know that they can not repay them expected, strictly speaking even committed a crime. In addition, it should always be kept in mind that applying for a credit card and issuing such a card is often reported to the Schufa.
If, for example, the principal bank then sees that the customer suddenly has five credit cards, the bank will definitely think its part and assume that this was only done to cover a liquidity shortage by using the respective credit line.