SCHUFA has developed a new score based on twelve criteria. One of them is called the age of the oldest bank contract. You can find out how this criterion will affect your creditworthiness in future here.

• Subject of the criterion: Age of the oldest banking contract
• Points in the score: 0 to 69 points
• Allocation of the minimum number of points: Oldest bank contract is less than three months old
• Maximum points awarded: Oldest bank contract is at least 20 years old

SCHUFA considers bank contracts to be contracts where there is a credit risk. These include, among others: Current accounts with overdraft facilities, credit cards, leasing contracts, guarantees, unsecured home loans and loans. Information on how long people have been actively involved in financial life is important for creditworthiness. The longer they have been doing this in accordance with their contracts, the longer they have proven that they handle their finances responsibly. This is positive for the score.

The older a bank contract is, the more positive the effect of age on the score. If the oldest bank contract has only recently been concluded and is less than three months old, zero points are awarded. Banks do not yet know how to deal with the financial obligations of new customers. Three months after opening an account, three points are awarded, after the first year twelve points. If the first bank contract is four years old, consumers receive 23 points, and 49 points for ten years. From the age of 20, the maximum score of 69 points is awarded for the criterion.Not having a bank contract results in 18 points for the score, as there is no risk of overdrawing the account without a bank account.

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