Building a favorable credit history will help you get closer to more and better loans and credits. But not all the financial activities you do positively affect how banks see you.
There are some things that are not even recorded for registration. Know what they are and if you are using them, change your strategy!
The amount of money you receive
Why do you think the credit history is generated beyond your monthly income? Because your income is not in this database! That is why it is not enough to have a savings account when a loan or loan is requested. And that is also why the use of a debit card does not affect your credit report.
The payment of services
The payment of your punctual services does not affect your score for good. Financial institutions only consider, eventually, your delays in these payments.
That is, beyond all your services you pay on time, that does not make you – for your eyes – a better subject of credit. What a pity!
Not have cards or loans
Your credit history will begin at the time you apply for your first credit card or loan. If this does not happen, you do not have a credit history and this is not good if in the future you need money.
And is that if banks do not know what your payment behavior is like, they cannot estimate your probability that you will default when you have one.
Have an additional card
You are not the owner of the line but you make purchases and pay on time the additional card that your partner or your parents took out for you. Is this your case? As this does not add or subtract your history, in fact it affects the history of the owner of the line. As long as you only have additional cards and are not a holder, you will still not exist for banks.
Do you want to know if you already have a credit history with the banks? Check it on the SBS or Infocorp platforms – the report on both is free.