What can affect creditworthiness?
To find out how your credit rating is valued, you can, for example, obtain information from Credit Bureau. This is possible once a year free of charge. This is also important because you can be sure that the Credit Bureau entries about you are always up to date and correct.
Pay attention to how you make credit requests
If you want to make several requests to compare loan offers, it is important that you do so as a condition query. This type of request is Credit Bureau neutral and is not documented. If, on the other hand, you make several credit inquiries, this will be noted at Credit Bureau. The number can then give the impression that you have been rejected by several banks. This would cause your credit rating to deteriorate significantly, so that if you make a new request, you may be classified as unworthy of credit or receive worse conditions. Credit inquiries from Best Bank are requested from Credit Bureau using the “Request loan terms” feature. This form of obtaining information is not considered a negative feature and is not included in the calculation of the individual interest rate.
Fill out the loan application carefully
Missing data and incorrect information are common reasons for refusing a loan application. Check carefully that your information is complete and correct. Think about what belongs to your income and state your income completely. Such information can have a positive impact on your creditworthiness and thus enable you to have better credit terms. A second borrower can also have a positive impact on your credit rating.
Pay on time
If you have reliably serviced and repaid your previous loans, this will also improve your credit rating. The same applies to the proper payment of bills. Frequent late payments, on the other hand, worsen your score.
Arrange your finances
How many accounts and credit cards do you have? With credit agencies such as Credit Bureau, it is not rated positively if you have too many checking accounts and credit cards.
If someone has no accounts at all, this also has a negative impact on creditworthiness. Therefore, check which number is useful and necessary for you and cancel those that you are not using.
Before making a loan request, it is worth checking how your credit rating is assessed at a credit agency like Credit Bureau and whether all data is up to date. With orderly finances and reliable payment behavior, you can ensure that your creditworthiness is good in the long term and that you receive the best possible conditions when making a loan request.