Getting a loan at the moment is a real challenge for every person who submits an application at the bank to obtain a certain amount of cash. The problem in this respect is not only people who have considerable debts, but also people who have never taken anything on credit or borrowed. Experts from the credit services industry emphasize how extremely important is building your own credit history. It depends on her in the overwhelming number of cases whether our application will be approved by bank analysts or rejected by them.
It is also emphasized that our ability does not depend only on the wealth of our portfolio (i.e. the revenues we receive each month), but also the history of our commitments plays a significant role here, i.e. the way in which we have dealt with the repayment of our debt in the past.
A good customer is at a premium. Credit history decides.
Paradoxically, for a bank a much better customer is a person who had loans in the past (even if they had minimal delays in payments) than a user who had no obligations and is not listed in any database. For the banking system and working analysts, it is completely unknown and therefore there is a considerable risk as to its financial condition and solvency.
Therefore, if in the future we are thinking of taking a larger loan, e.g. a mortgage, it is a good idea to build your credit history now. We can e.g.
– decide to use a credit card (of course, no one urges anyone to spend money excessively, but sensible use of a credit card on the one hand can make our lives easier and on the other will be followed by a positive entry in the Credit Information Bureau, i.e. in the popular BIK)
– in addition, attractive installment purchases also involve taking out a loan (we can also improve your creditworthiness through timely repayment)
They don’t have to be large amounts. It is important above all that we have made a given commitment and have been repaid by us conscientiously.
What does the bank check in addition to installments?
Repayment of our obligations in the past is a basic thing that the bank verifies. In addition, however, we can be checked in one of several Economic Information Bureaus (e.g. KRD) for the correct payment for utilities and alimony (if awarded). Any future borrower should also take this into account.
Are you a guarantor? Check how the person you have trusted copes with paying off the debt.
A popular proverb says that if you have a soft heart then you must have a hard other important part of our body and this is also the case with credit. The failure of the main borrower may result in us as the guarantor falling under the obligation to pay a specific debt. The additional commitment that we will “gain” in this way will certainly not have a positive impact on our financial condition, and even less creditworthiness.
Credit card – convenience, but also danger
Access to cash is so easy at the moment that sometimes we can even fall into debt unconsciously. In the case of credit cards, this has the additional minus that we will be charged a relatively large interest and on the other we can easily get to the register of debtors. Therefore, even if there is a lack of debt repayment on time, we should even pay a small part of it in order not to be on the bank’s “blacklist” with a closed path to the loan.