Credit History: On the Internet, it is often offered to correct credit account for the money. Remember: it is impossible to do this with the help of unknown intermediaries, so you cannot trust such services.
In this article, we will tell you how you can influence your credit history. But first I want to inform you that if you want to create a fake credit card online, you can generate it from a credit card generator.
What is credit history?
Credit history is a dossier that stores the history of your credit relationships with financial institutions. In other words, it is information about how many loans you had and how disciplined you were to repay them.
The dossier on the borrower begins from the moment of his first loan. When considering an application for a loan, banks analyze the credit account of potential borrower and co-borrowers.
Credit history is stored in the Bureau of Credit Histories for 10 years from the date of the last change in the information contained in the credit history.
How is the decision to issue a loan is made?
The decision to issue a loan is made individually, but, as a rule, the bank has several main reasons for refusal: bad credit history, availability of other loans, insufficient income, or information provided by the client was not confirmed by the bank.
How to influence your credit history?
There is only one way to really influence history: pay off your loans on time. Therefore, if you have current delinquencies, pay them off as soon as possible, and in the future, try to repay loans on time. For banks, this is one of the main criteria when considering applications.
As a rule, the bank does not explain the reasons for refusing to provide a loan, including a mortgage. To increase the likelihood of loan approval, we recommend that you do the following before applying for a new loan:
- If you have a credit card – check if it has any debts
- Make sure you have no overdue debt on other loans
- If you are currently a surety for another person’s loan, make sure the lender pays properly.
- Make sure you overlook other factors that may affect your creditworthiness (fines, violations). You can also order a credit report to check the details yourself.
- You can learn how to get credit history from our materials How to check your credit history and How to get a credit account.
What else is important to know?
To increase the likelihood of approval, we may recommend that you pay off existing loans and close your credit cards checker if you have any, or lower your limit on them.
Keep in mind that information about loan repayment. We also recommend checking:
- The validity of the passport and other documents provided by you when applying.
- Delays on available loans or credit cards.
- Arrears in payment of fines or taxes.
- Bankruptcy details.
- Open tests.
If these circumstances exist, we recommend eliminating them: paying off debts, fines, enforcing court decisions, closing court proceedings.
The credit policy of any bank changes from time to time. This means that the bank may change its mind. If you have been denied a loan, you can reapply for the same loan in about two months, and for another at any time.