Schufa Unveils Transparent Credit Scoring System for Consumer Access
Germany's leading credit agency simplifies its scoring model to 12 criteria, enabling free digital access to credit scores by late 2025.
- The new Schufa credit score reduces complexity by using 12 simplified criteria, replacing the previous system of over 250 factors.
- Consumers will gain free digital access to their personal credit scores via the Schufa app or online platform starting in the fourth quarter of 2025.
- The system allows users to simulate how changes in financial behavior, such as taking out loans or closing credit cards, affect their creditworthiness.
- This overhaul addresses long-standing criticisms of Schufa's opaque 'blackbox' model and complies with a 2025 European Court of Justice ruling demanding transparency in credit scoring.
- Currently being tested with 17 financial institutions, the unified score will replace multiple industry-specific scores and assign ratings on a scale from 100 to 999.
