Credit Bureau
Table of Contents
1. What is a credit agency?
A credit agency is a private company that collects business-relevant information on individuals and legal entities and passes it on to business partners as a basis for credit checks.
2. Data collection by credit agencies
1. Where does the data come from?
Credit agencies make use of numerous data sources. On the one hand, individuals and companies are asked directly for various information. On the other hand, information from public agencies is also used. Starting with telephone directories for the collection of contact data, through publications in the commercial register to cooperation with debt collection agencies, numerous data converge at the credit agencies and produce a comprehensive picture of the individual economic actor.
2. What data is collected?
In addition to a range of general data, specific data is collected depending on the actor. Below are some examples of information collected.
For private individuals
Surname, first name, address, date of birth, contact details
Marital status
Occupation
Assessment of financial situation
Payment history
Ranking of financial situation
historical negative notes
Property ownership
Real estate
shareholdings
Bank accounts
Data on current accounts, loans, leasing contracts, mobile phone contracts and other credit agreements
For companies
Company name, registered office, contact details
Legal form
Object of the enterprise
Branches, subsidiaries
Information on the financial situation
Payment history
Ranking of financial situation
historical negative notes
Ownership
Real estate ownership
Shareholdings
Bank accounts
Key business figures
Turnover
Profits/Losses
Equity ratio
Number of employees
3. Self-disclosure
In order to find out what data is stored at a credit agency, you can apply for a so-called self-disclosure. This lists all existing entries about your person. According to Article 8 of the Federal Act on Data Protection, credit agencies are obliged to provide the self-disclosure free of charge upon request. Especially when taking out a loan, it is helpful to be aware of this information, as it has a direct influence on the loan decision and/or the loan conditions.
4. Credit agencies in Switzerland
There are several credit agencies in Switzerland. Among the best known and most important are:
In addition, the IKO (Informationsstelle für Konsumkredit) plays an important role in providing information on credit and leasing transactions concerning private persons. Credit rating data from credit transactions of natural and legal persons are also collected and made available by ZEK (Central Office for Credit Information).