You can apply for your Schufa report on meineschufa.de. It explains your creditworthiness
In general, the Schufa score values indicate the probability of how you meet the payment obligations in the future. With the so-called base score , an industry-independent assessment of your creditworthiness is carried out. Your probability of fulfilment is shown as a percentage - i.e. an assessment of how likely it is that you will make the payments as contractually agreed. This percentage is always recalculated on a quarterly basis - with numbers close to 100 corresponding to a great position and optimal creditworthiness.
The Schufa reference value
In addition to the base score, there is something called the Schufa reference value / Schufa Orientierungswert. This value range shows how good your credit rating is. It is calculated at the time the Schufa credit report is generated.
The respective numbers in detail:
100-190 : There is no payment history information about you. So you have a low risk of payment difficulties.
200-299: There is no information on payment problems here either, but you have a slightly increased risk of payment problems.
300-499: There is no information on payment problems here either, but your risk of payment problems is rated as greatly increased.
500: Information about payment disruptions is available here.
600: Information from public registers of debtors is available here, e.g. in insolvency proceedings.
The Schufa reference value is created from the weighted average of the Schufa industry score. Schufa has developed different scoring models for different industries. It was taken into account that your payment probability when buying a car can be different than when buying on account by mail order. Here for example the bank score or the mail order/eCommerce score. The value ranges from 9999 (rating level A, here there is the lowest risk of non-payment) to 0 (rating level P, highest risk of non-payment).
Can I delete a Schufa entry?
There could be chances that negative entries are stored in your Schufa record. In that case, you should first apply for your free self-disclosure from Schufa and check the data that has been stored about you. Check this article to see how you can get a free Schufa report. If you notice some incorrect entries, you have the right to have it corrected. These entries must be blocked by Schufa while the information is being checked. However, this does not actually delete the affected entry immediately. You can only have them corrected. They are then automatically deleted 3 years after completion.
In the long term try to improve your credit rating by not overdrawing your overdraft facility as often and make sure that your expenses are not higher than your monthly income.
Maybe it's high time you should seriously think about your financial habits too!
By the way, if you are looking for an apartment, did you know that most furnished apartments in Germany ( listed in Spotahome, Wunderflats) do not ask for a Schufa? If you are looking for your first apartment, this can be an effective method