Payment discipline of the borrower. The presence of current and repaid overdue payments, their duration, how many times during the term of the loan agreement the payments were overdue.
Credit load. How many open loans does the borrower have, what is the total amount of debt.
Length of credit history. How long has the borrower been using bank loans?
Interest in the credit history of other banks and microfinance organizations.
Frequency and number of loan applications submitted to different banks.
Additional factors may include:
Borrower's age. The highest score is given to borrowers from 27-30 to 55-60 years old.
Lack of credit history for a person over 30 years old. This factor reduces the credit rating.
Types of loans. It is good when a borrower uses different types of loans, and does not apply for only credit cards in several banks.
What can improve your credit rating
To improve the credit rating, the borrower will need to prove his financial discipline.
What will increase your credit rating:
Repayment of overdue payments.
Low total debt on loans and credits.
The borrower has no outstanding debts fo poland number for whatsapp r fines or housing and communal services.
One of the main indicators that determines the size of the borrower's credit rating is how long you have been servicing loans. Therefore, if you have a credit card, make regular payments on it so that information about them gets to the credit bureau. Try not to allow delays in payments. Any delays negatively affect the credit rating. And if there were delays, try to pay them off and not allow them again. The more time passes from the time of repayment of the delay, the better for the rating.
What can lower your credit rating
The presence of the following factors lowers the credit rating:
Use of expensive short-term products, such as microloans.
Late payments.
Large number of active loans.
High debt, fully used credit card limits.
How to improve your credit rating
To improve your credit score, do the following:
Pay off any outstanding payments.
Get a credit card with a low limit and use it actively for several months, making payments on time.
Reduce your credit load by lowering your total debt.
Apply for a POS loan to purchase goods and pay it off on time.
Take out a consumer loan for a small amount and pay it back on time.