Improving credit history becomes a necessary action when you need to take a new loan, but due to the unfair payment of the past, the Bank refuses to issue a loan.
Many people do not know at all about the fact that, from how you will pay a loan makes up your reputation in front of the bank. Therefore, it is important to have a good credit history, but if it is already spoiled, we will tell how to improve it.
First of all, the systematic delay is influenced negatively on your credit history. With one or two overdue monthly payments, the probability of damage to credit history is low, but if you constantly pay later the established schedule, it will definitely affect your credit reputation.
Also unpaid court debts, fines, housing and communal payments, alimony can be considered by the Bank at the credit approval stage, as this information is reflected in credit history through the transfer of its bailiffs, communication providers, as well as housing and communal services.
With the reasons why credit history can be spoiled, we figured out. Let’s see how we can correct the situation.
To improve your credit history, you can try to make a credit card. This is a very convenient credit product that allows you to acquire goods and services without leaving the house and at the expense of the bank.
There is a huge number of privileges, if we compare with a loan, such as a credit card does not require pledge and guarantee, and you also become cached shopping, bonus points, interest on the rest and miles to buy a plane ticket.
It is the timely return of funds to the credit card and helps to improve your credit history.
Buying goods in installments allows you to purchase the desired things without a loan and its percent. The full cost of goods is easy to share equally for a certain number of months, and you need to pay the payment on time. To buy goods in installments, you do not need to collect any documents, and the design is happening quite quickly and simply. And most importantly, the buyer’s credit history is not checked in this situation, which allows you to buy no goods by installments, but the delay in payment will be taken into account in your «credit dossier», therefore, the timely payment of payment will be a huge advantage in the issue of improving credit history .
Microloams are called small microcredits, which are issued by authorized organizations with a license — microfinance organizations. The advantage of such a loan is the rapid receipt of the required amount in a short time.
Verification of a potential borrower is very weak, so your spoiled credit history will quietly allow achieving microcredit approval. The minus loan in the microfinance organization is the high cost of borrowed money and a large percentage of delay.
Therefore, in order not to lose the last money, paying huge delay, be attentive with the dates and the sums of the corresponding monthly payments. And in the case of conscientious payment of debt, it will be celebrated and your credit history.
Yes, yes, you did not hear! Some banks provide the opportunity to take a small loan to improve your credit history.
They go to risks, knowing that in the past you did not pay in a timely manner, so the conditions for such loans will not be the most profitable, but if you are repaying the debt on time, then it will definitely affect your credit history.
A spoiled credit history is not one forever. If you are very trying and take advantage of at least one of the ways we suggested, you will become one step closer to improved credit history, which will give you more chances for approval of the desired loan.
Watch us on social networks: