A bad credit history is the main reason why banks refuse to finance potential borrowers. Not only late payments, but also mistakes by employees of financial institutions can lower your rating.
Therefore, before applying for another loan, it is recommended to request a detailed report - this will help you see yourself through the eyes of the bank, as well as eliminate possible mistakes on the part of previous creditors. Let's talk about how to do this yourself and with the help of intermediaries - we will list paid and free methods.
What is a credit history?
A credit history is a list of information about the borrower's anhui mobile number database relationship with creditors. It displays information about all credits, loans, and advances that have ever been issued by this person. Here you can also find information about payments, late payments, approvals, and refusals. The report will also contain data on the amount of loans issued, open credit limits, the amount of debt, the duration of use of money, the terms of delay, and so on.
The credit history is formed in the process of how the client of financial organizations uses the corresponding products. The report shows applications and decisions on them - always with dates. The results of decisions, the frequency and amount of payments, the current balance or the amount of debt are also displayed.
Using this information, lenders can draw a conclusion about the reliability of a potential borrower, his financial burden. The data is used both in "manual" verification and in automatic scoring. The information forms the basis of the lender's decision on the borrower's application - it is extremely difficult to get money with a bad credit history. Especially when it comes to loans for a large amount without collateral.