SCHUFA refers to SCHUFA Holding AG, a credit bureau based in Wiesbaden. It is an acronym that stands for Schutzgemeinschaft für allgemeine Kreditsicherung (General Credit Protection Agency).
SCHUFA is a credit bureau that collects and collates data on consumers resident in Germany from various sources, including banks, utility companies and telephony providers.
Your SCHUFA-Auskunft – or SCHUFA record – is a general report on your creditworthiness and demonstrates your ability to pay bills. SCHUFA uses an algorithm to analyze your past credit-related activity and issue a rating. Missed bill payments, defaults and the like will be recorded on your SCHUFA record and remain there for several years.
As an expat, a SCHUFA record will be created for you when you officially register as a German resident (Anmeldung). From that point on, any and all credit-related information generated in Germany will be stored in your SCHUFA record.
Banks will use your SCHUFA credit rating to assess your eligibility for loans and credit cards. Landlords may consult your SCHUFA credit rating before deciding to let to you. And, as private health insurance is a commitment to make payments for years to come, private health insurance providers may also consult your SCHUFA credit rating. This automatic check does not damage your SCHUFA.
To get your social security number you need to contact Deutsche Rentenversicherung. They also provide English support.
If you are eligible for private health insurance and you are in Germany on a visa or a limited permit, we can offer you the Expat Tariff up to five years.
ottonova is fully regulated by the BaFin and therefore fulfilling the requirements (§ 257 7Abs. 2a Satz 1 SGB V and the § 61 Abs. 5 SGB XI) for you to be able to apply for a visa with your ottonova insurance, which also includes our Expat tariff of course.
Saving on health insurance and still getting the best coverage isn’t possible? With signing in for ottonova you can make it happen!
There are lots of benefits to living abroad! But for expats in Germany, the cultural differences can sometimes be surprising. Punctuality, work and play, and cultural differences make life in Germany exciting.
How does the Social Security System in Germany work? What parts does it have? Find all the important information here!
As well as knowing the cost of treatment before proceeding, you also need to know the sum your insurance will cover– known as the allowable charge.
If you've recently switched to private health insurance or plan to, you may be wondering whether you can deduct the costs from your taxes. We explain how you can declare the private health insurance in your tax return so that you also save money.
By entering your data you agree to be contacted by ottonova via phone, SMS and email. Good to know: