Anyone who has applied to a bank for a loan has heard of such a concept as credit history. When a loan is issued to an individual, the entire payment history is recorded. If a credit manager wants to find out how many loans a client has taken for life, whether there is any debt on them and whether he is included in the black list of debtors, he can do this using the information from the National Bureau of Credit Histories. Therefore, you should always remember that you need to repay the loan on time.
Benefits of a positive credit history
If a person wants to get a large loan for an apartment, buy a new car or start his own business in the future, he needs to take care of his credit history in advance. It is verified using a person’s identification code. When a borrower often takes loans, always pays on time, closes it in advance, then such a client can count on advantages over other borrowers.
Most often, a potential client can count on:
• ease of registration of a new loan. Such borrowers do not need to provide certificates of income, on the availability of property, to bring guarantors. They will be given a loan immediately after reviewing their credit history;
• a large loan amount. If a person took a lot of loans and repaid them on time, then one can count on the fact that it will be possible to get more money;
• several lines of credit. Such people are given loans in several banks at the same time, this allows them to have several credit cards and more money at their disposal;
• loyalty programs. For regular customers, credit institutions almost always offer more profitable programs and special offers. It is important for banks to have good customers who regularly take and give loans.
These are the main benefits of a good credit history. In some countries, to buy a house, you need to use several credit cards at the same time throughout the year. There is no such thing on the territory of Russia, but a good history of using credit funds will not hurt.
How do I check my credit history?
Anyone can check their payment discipline online. To do this, use your individual tax number. Information is provided for the last 10 years of using credit funds.
The debt load indicator is calculated based on the credit history of individuals. If this indicator is high, that is, payments on this person’s loans make up the majority of his salary, then there is no need to count on a loan.
Regardless of whether the client wants to disclose information about his credit history or not, the bank will check it anyway. This is allowed at the legislative level, so you need to remember about your credit history and close debts on time. After all, if a person did not make regular payments on time or is even blacklisted, then they will not give a loan, and it is very difficult to fix a bad credit history.