Good Finance is particularly well known as a credit card issuer. The financial service provider is a pioneer here. The major bank launched the first credit cards on the European market as early as 1966. Good Finance has been operating in Germany since 1991 and meanwhile has over 1.5 million credit card customers.
The company has been offering installment loans for private individuals since 2008. With Good Finance not only employees and civil servants but also pensioners and self-employed can apply for a loan.
The bank has its German headquarters in Hamburg. It has no branches. All credit transactions are processed online or by phone.
Financial service providers’ websites allow conclusions
To be drawn about their professionalism, seriousness and customer orientation. The Good Finance portal meets all the requirements that can be met in this regard. If you click on the “Credit” button, you first get to an overview page on which the loans made available by Good Finance are described, stating the most important conditions.
The representative credit example is clearly visible, although it is listed in the last position below. This gives customers the opportunity to find out about real interest rates before clicking on the link to the individual loan products.
Users can obtain detailed information by clicking on the “More information” link. Customers can go directly to the credit request under “Apply now”. However, it is advisable to get more information first. The usual loan calculator is on the information page, but with a small special feature.
Customers can assess their creditworthiness themselves and, taking this self-assessment into account, receive the interest rate that matches the creditworthiness. Anyone who has obtained information from Credit Checker before looking for a loan can particularly benefit from this function of the loan calculator.
If contrary to the advice of many experts and consumer organizations, you would like to take out residual debt insurance, known as a security package at Good Finance, you should definitely have a look at the general insurance conditions and click on the relevant link.
The Good Finance loans
Good Finance offers consumer loans in moderate amounts. They can be requested online or by phone. The credit products are known as installment loans, installment loans for self-employed persons, Good Finance car loans, fixed loans or upgrade loans. Good Finance also offers a free debt rescheduling service.
The basic characteristics of all these loans are the same. They are awarded for amounts between $ 1,000- $ 35,000. The terms are between 12 and 84 months. The effective annual interest rates for installment loans and car financing range from 1.89% to 4.99%.
For self-employed loans, the lowest interest rate is also 1.89%. The highest effective interest rate is 8.99%. According to the prevailing case law, no processing costs are charged.
Special repayments are possible at any time free of charge. In the event of early, complete loan repayment, prepayment penalties are incurred in accordance with the legal regulation on consumer loans (one percent with a remaining term of more than one year, with a shorter-term 0.5%).
Good Finance contractually extends the statutory two-week right of withdrawal to 8 weeks. Borrowers have 8 weeks to find a cheaper loan offer and can then use the extended right of withdrawal.
However, it is better to find out about the market before taking out a loan and, after comparing various offers, to accept the cheapest loan offer from the outset.
With the credit comparison calculator recommended here, it is easy to get a detailed market overview.
Use the modern technology of the financial check loan comparison and compare the conditions of Good Finance with the interest conditions of other credit institutions.
Good Finance offers top-up loans (upgrade credit)
They are awarded after a further credit check provided that the creditworthiness has not changed negatively.
The increase in the loan is made easy for the customer.
No new income documents are requested. Rates and terms can be adjusted by the customer to the new loan amount within the given framework.
Customers will receive a promotional code in advance by post, which they should indicate in the credit request for the top-up.
If no promotion code has been provided, the customer can contact the telephone service with their request for an increase.
The fixed loan is an offer to existing customers. Anyone who has a credit card via Good Finance or who has taken out a pre-loan will receive a code that they must enter before applying for the fixed loan.
The loan for existing customers can be applied for by post, online or by phone. The code speeds up the application process unless the credit rating has changed adversely.
No additional proof of income is required, nor is a post-identification procedure required.
The car loan does not differ in terms of its framework conditions from the general-purpose loan also offered the normal installment loan.
Apparently the latter is simply being offered again under the name car loan.
That is why handing over the vehicle letter is not a prerequisite for issuing the vehicle loan.
The self-employed loan offered by Good Finance is really a positive exception among the loan offers for traders and freelancers.
However, interest rates are higher. The interest rate range is given as 1.89% up to 8.99%.
The loan for the self-employed seems to be easy to apply for.
As far as can be seen from the provider’s website, only a copy of an income tax statement from the last 3 years is required.
The loan is a general-purpose loan and can be used by the borrower at will.