The bank takes into account a number of factors when issuing a loan, such as monthly total income and credit history. With a positive history and a sufficient salary, the loan will be issued without problems.
A bad credit history plays a critical role in a financial institution’s decision to issue a cash loan. How can you fix the situation and increase your chances of getting a loan?
First, it is worth paying attention to the microfinance organization. A worthy, large organization conducts cooperation, like banks, with the same credit history bureaus, respectively, the experience of cooperation with MFOs will be available to banks. You should not take a large loan in order to avoid delays in payments, the amount of 3-5 thousand will be sufficient. Compliance with the terms of the contract is the main condition on the path to correction!
Secondly, it is better to pay in advance, several days before the payment date. It should be borne in mind that the bank may have technical problems, therefore, the payment may come a day or two later — this is a direct path to delays.
Third, you can try to get a credit card. Some banks can meet halfway and issue a credit card with a small limit. Paying for goods in stores, and replenishing spent funds on time, a person aligns his story. Over time, the financial institution increases confidence in the borrower, and the credit limit on the card is increased.
Fourth, if a small loan was issued, the payment amount must be higher than specified in the contract: this will show the borrower’s solvency
Fifth, you can improve your credit history by purchasing goods in installments. By purchasing household or electronic appliances, valuables and paying the required amount for them, a person will not only receive the necessary thing for himself, but also improve his credit rating in the BCH.
Sixth, opening a deposit. The presence of a potential borrower of a bank account that is regularly replenished will have a positive effect on a person’s reputation.
Fraudsters can profit from improving credit history. They act as follows:
one). They suggest improving the story in a short time (month, week …).
2). They ask for money to improve the history. It is impossible, by paying someone money, to become with a good credit history.
3). Removing credit history for money. In the credit bureau, information can be deleted in one case if it is an error and it was officially proved.
If you want to improve your credit history, you should weigh the pros and cons, correctly calculate your opportunities, since one wrong step — and your credit history, instead of improving, will become even worse.
