For the first time, SCHUFA provides detailed information on the background of the creditworthiness calculation

The score simulator explains the most important factors that influence creditworthiness in seven steps. Consumers can try out more than 1,800 variants to gain an understanding of the relevance and weighting of the factors.

How does SCHUFA actually get my score? Which factors play a role in my creditworthiness? How can I improve my score? The score simulator, which SCHUFA presented today at a press conference, now answers these questions. With the help of the simulator, consumers learn which factors influence creditworthiness.

The score simulator is another milestone on SCHUFA’s path to greater transparency and consumer friendliness. This makes the SCHUFA scoring principle comprehensible for the first time,” says Tanja Birkholz, CEO of SCHUFA Holding AG.The Score Simulator is an online application for financial education that reveals the basics of our credit rating and also explains terms such as credit and debit cards.”

What factors influence the score?

The SCHUFA score simulator explains the basic principles of the SCHUFA creditworthiness calculation. The most important factors that influence creditworthiness are queried in seven steps. These are checking accounts, credit cards, installment loans, real estate loans, online purchases on account, relocations and payment defaults. At each step, it is explained why and how the respective factors affect the SCHUFA score. In addition, users receive explanations of the individual influencing factors. More than 1,800 different combinations of the seven factors can be tried. In this way, consumers learn interactively and clearly about the relevance and weighting of the SCHUFA scoring factors. Users can also get an idea of ​​their own creditworthiness by selecting suitable factors.

As the name suggests, the result of the score simulator is a simulation and not your personal SCHUFA score. However, evaluations by SCHUFA show that for around 60 percent of people, the result of the score simulator corresponds to the result class of the actual SCHUFA base score. This is calculated as an orientation value based on the data stored about a person. At 38 percent, the actual base score is at least one credit class better than the result of the simulator.

Key question: How can I improve my score?

In a first step, SCHUFA has made all information on the subject of scoring simpler and easier to understand over the past few months and also installed a video bot in which SCHUFA employees answer 60 of the most frequently asked questions to SCHUFA. “With the score simulator, we now also want to provide an answer to the most frequently asked question at SCHUFA: “How can I improve my score?” says Tanja Birkholz. “This question will also guide us in our further steps towards transparency and consumer friendliness. The SCHUFA app will be coming in 2024, which is intended to make it easier for private individuals to manage their personal data and finances. On the one hand, the app is intended to enable free insight into one’s own SCHUFA data and, on the other hand, to offer the possibility of registering data with SCHUFA, if it improves the personal score.”

Source: SCHUFA