Housing loan, car loan, consumer / consumer loan etc. When we apply for all loans or want to buy a credit card, an important criterion to be concluded is the credit rating.
We can think of the credit rating as a scorecard with all of our financial history. The note here is calculated by the Credit Bureau. So, how is the credit rating determined?
How Is A Credit Rating Formed?
- The layout of our credit card payments
- The layout of our credit payments
- Our income and expense status
- Our loan applications so far
- Our intensity of using credit
and it is based on an analysis of all the relationships we have with banks like these.
The credit rating varies between 1 and 1900. 1 is the person with the highest risk and 1900 is the most reliable person. So the higher our rating, the better.
How the Credit Rating Rises?
Paying all debts regularly has a positive effect on the credit rating. In fact, it is more effective to have a regularly paid card than to use a credit card. Because in this way, the bank can at least give a grade. It is good to pay a low limit card regularly. High debt to a very high limit card may decrease our rating as it puts us in a risky group first. If we pay this debt regularly, our rating rises again.
Frequent credit and credit card applications, especially unapproved applications, may adversely affect credit ratings. When applying for credit, it is important to make a selection according to income by comparing loans beforehand.
Again, like invoices, making payments regularly from the bank creates a positive effect.
After Paying Debt to Tracking, Does Credit Rating Increase?
A loan information that falls on the follow-up comes out of the risk report after 5 years, even if the loan is closed. If the credit registry is reset, it is necessary to make regular payments by contacting the banks to raise the credit rating.
How to Learn Credit Rating?
You can learn your credit rating in two different ways through KKB or banks. You can view your credit rating by subscribing to the site for a fee of approximately 8 TL from Lite Lender website.
Many banks offer their customers a credit note inquiry for a fee. Apart from that, it can also be learned from Lite Lender’ website for a certain fee.
If you intend to streamline your credit card spending or take out a loan for a target, come click CLICK HERE and become a Astro Finance member!