Post by nafizcristiano2 on Feb 15, 2024 0:01:41 GMT -5
How to interpret my special Credit Bureau to apply for a mortgage loan? If you have ever tried to apply for a credit card, a personal loan or a mortgage loan , you have surely heard about the famous Credit Bureau and the importance of having a good history. And, to this day in Mexico, many people continue to believe the myth that the Credit Bureau is a "blacklist" containing all those who do not pay or who owe money to lending institutions, but this is not the case. credit-bureau-credit-circleBuró de Crédito and Círculo de Crédito are Credit Information Companies. Both are private companies that receive data from financial institutions that grant loans on the financial behavior of people and entities that have loans. A Credit Information Society uses that information and transforms it into credit histories, which show the risk of lending money to a person. In this article we are going to tell you everything about how to interpret your history in the Credit Bureau , in order to apply for a mortgage loan. Let's start by talking briefly about the concepts you need to know. What is credit history? A credit history is the collection of all the activity and behavior you have had with your previous loans and financial services.
All entities that offer financing use the credit history records of individuals and companies to generate a score that helps them evaluate, along with other factors, whether to lend money or not. How does a bad history Bahamas Email List in the Credit Bureau affect me? Appearing in the Credit Bureau is not bad. In fact, all the people who have requested a loan or some type of financing are already registered . Even hiring a telephone or pay television service automatically “enters” the Credit Bureau, so the information about your payment behavior for these services is reflected in your credit history. On a monthly basis, credit institutions report the behavior of their clients, indicating whether you were punctual or late. If your history is good, it will be easy to apply for new credits, but if you had a bad performance, your chances decrease. To read and understand your Credit Bureau history you first need to know how to check it. Tips to check your credit history (Special Credit Report) This information belongs to both you and the banks, so you can access it whenever you need it.
In fact, it is good practice to ask for it at least once a year. To do this, consider the following: Have an official ID. It is important that you have some personal identification on hand such as your INE credential, your passport or, if you are a foreigner, your immigration form. Have copies of your account statements. Make sure you have all the information regarding your credit card statements, or the information on the credits you have requested, since the idea is that you can review them and confirm that the information is correct. Use your free consultation. Remember that you only have one free consultation per year and all others will have an additional cost. Review it periodically to know your credit situation. It is highly recommended to consult the report from time to time. This way you will be able to detect irregularities and who has consulted it. Don't forget to turn on bureau alerts. Keep in mind that you can always improve it. If you have been late or non-compliant and have a poor grade, you do not have to wait for the 6 years to pass for the information to be deleted to improve your record. If you keep up with your payments, this information will be reflected in your credit history.
All entities that offer financing use the credit history records of individuals and companies to generate a score that helps them evaluate, along with other factors, whether to lend money or not. How does a bad history Bahamas Email List in the Credit Bureau affect me? Appearing in the Credit Bureau is not bad. In fact, all the people who have requested a loan or some type of financing are already registered . Even hiring a telephone or pay television service automatically “enters” the Credit Bureau, so the information about your payment behavior for these services is reflected in your credit history. On a monthly basis, credit institutions report the behavior of their clients, indicating whether you were punctual or late. If your history is good, it will be easy to apply for new credits, but if you had a bad performance, your chances decrease. To read and understand your Credit Bureau history you first need to know how to check it. Tips to check your credit history (Special Credit Report) This information belongs to both you and the banks, so you can access it whenever you need it.
In fact, it is good practice to ask for it at least once a year. To do this, consider the following: Have an official ID. It is important that you have some personal identification on hand such as your INE credential, your passport or, if you are a foreigner, your immigration form. Have copies of your account statements. Make sure you have all the information regarding your credit card statements, or the information on the credits you have requested, since the idea is that you can review them and confirm that the information is correct. Use your free consultation. Remember that you only have one free consultation per year and all others will have an additional cost. Review it periodically to know your credit situation. It is highly recommended to consult the report from time to time. This way you will be able to detect irregularities and who has consulted it. Don't forget to turn on bureau alerts. Keep in mind that you can always improve it. If you have been late or non-compliant and have a poor grade, you do not have to wait for the 6 years to pass for the information to be deleted to improve your record. If you keep up with your payments, this information will be reflected in your credit history.