M.he has had almost every German to do with her, whether he wants to or not. No matter whether it’s a new apartment, the next mobile phone contract or just a loan request. We are talking about Schufa, or more precisely: From Schufa Holding AG, a company that evaluates the creditworthiness of customers and then sells this information to companies and the assessed themselves. One can certainly speak of a data octopus. On its website, the Schufa, which is called “Protection Association for General Loan Protection”, advertises with more than a billion data on 6 million companies and 67.9 million people. Almost every legally competent German citizen is recorded by the Wiesbaden-based credit agency.
According to the Schufa, more than 90 percent of the stored personal data are positive. This data includes name, date of birth and address, but also current accounts, credit cards, cell phone or leasing contracts or loans. The data protection supervisory authority regularly audits the company, which is 87 percent owned by banks and savings banks. The Hessian Commissioner for Data Protection and Freedom of Information, Michael Ronellenfitsch, reports a high number of complaints to the Schufa, mainly due to people who are classified as negative. The Schufa issued 460,000 pieces of information on a day, ranging from installment loans to mobile phone contracts. A negative Schufa information has unpleasant consequences for the consumer: rejection or higher interest.