Positive credit history

With the concept of credit history probably met everyone who used already offer credit and loans, and the financial institution to analyze their potential borrower. What is a credit history, how to build and maintain, and why is it even important?

Credit history is a kind of testimony of each of the borrowers. It is thanks to the financial institutions check the plausibility of their customers. On the practical side, it is a record of previous credit processes and provides data on the timeliness and regularity of repayment of earlier loans.

Building a good story

Nna credit history affects any liability incurred earlier. Building a positive credit history should therefore start at the first loan, or a loan, and to be continued upon payment of any further obligation. How to do it? First of all, each of the installments of any loans should be regulated in time. It is unacceptable long delay in payment. In addition, the repayment of the loan should be paid attention to its regularity, because this will supply positive about our financial stability and responsibility. Financial institutions are not interested in borrowing because of its resources to the client who repay delinquent existing commitments, or did it irregularly, which undeniably tarnished its image borrower.

information systems

The advancement of modern technology makes financial institutions are able to track our every move. Contributing to this include Credit Information Bureau, which BIK, which collects information about both reliable, how about unreliable borrowers. On the application received by the financial institutions', BIK processes information about virtually all contracts in Poland, loans and mortgages. Prepares reports as appropriate, which are then passed on to other financial institutions. If such a report for us to be unfavorable, it is with a high degree of probability we will have a lot of problems on the road to taking out another loan. Worth noting is the the fact that information on an unreliable borrower is stored in databases BIK by up to 5 years. What should I do to be classified as an unreliable borrower? Just cross the installment repayment term of 60 days and did not respond to the call to make a late payment.