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Increase your credit score:

We explain how to increase your credit rating.

To be able to lease one or more vending machines, you need a Crefoscore of at least 290 with our leasing partner bank.

What is the Crefoscore?

The "Creditreform Score" or creditworthiness score is an essential component of Creditreform's services. This score indicates how high the risk is that a company or person will not meet its financial obligations. The score is based on a variety of data, including payment history, existing debts, court data, trading activity and other financial information.

Important factors for scoring?

  • Payment history: This is the most important factor. Regular and punctual payments strengthen your score, while late payments can lower it.
  • Credit utilization: It is advisable not to use more than 30% of the available credit line on a regular basis. High utilization can be seen as a financial burden and have a negative impact on your score.
  • Credit age: Long-term credit relationships show stability. An older credit account often has a positive effect on your scoring.
  • New loans: Every new credit application can lower your score in the short term. Multiple inquiries in a short period of time are often seen as a sign of financial insecurity.

Tips for improving your scoring:

  • Monitoring of credit reports: Sign up for services that allow you to check your credit report regularly. Early detection and correction of errors can have a positive impact on your scoring.
  • Debt management: Try to consolidate existing debts or develop a plan to gradually reduce your debts. Less debt will improve your scoring.
  • Negotiate with creditors: If you're having trouble paying bills on time, contact your creditors to discuss possible payment plans or other arrangements that won't affect your score.
  • Open communication: If you are experiencing financial difficulties, it is advisable to talk to your creditors early on. Many are willing to offer solutions such as deferments or payment plans that can help maintain your score.

Case study:

Martin Müller, a self-employed man from Düsseldorf, experienced a significant drop in his score after an unpaid invoice appeared as a negative entry in his credit report. After settling the debt and correcting this entry, he sought professional advice to get his finances in order. Through regular reviews and strategic debt management, Martin's score improved noticeably within a year. This experience taught him the importance of a good score for future financing options.