WHY IS THE CREDIT SCORE IMPORTANT?

The score is an instrument that helps you to know the score of the credit behavior. This instrument generates a rating on a scale from poor to excellent; In other words, the score or credit score is about your credit history with a certain score according to your financial behavior, so the credit granting institutions know how good a payer you are.

With the help of the credit score, you will know your credit situation, which will allow you to improve your score to be a candidate for a credit card with financial entities.

The higher your score, the better your chances of getting credit.

What is a credit score?

Some financial topics can be difficult to understand, but your credit scores does not have to be. If you have loans such as credit cards or loans with any type of destination, you have a credit history, and therefore a report on your financial behavior and how you manage your money.

Your credit information is analyzed to calculate your credit score, a three-digit number that, along with your credit report, is used by lenders to decide whether or not to grant a certain loan.

What affects the credits score the most?

Your installment history is the main part of your FICO rating, as it shows how you’ve dealt with your funds, including late installments. It’s additionally key since it shows how long you’ve been dealing with your records and when the keep going installments on your monetary commitments were made.

Does the type and number of credits influence the score?

Yes, the different types of credit you have (credit card, home loans, vehicle) as well as the number of credits influence your score.

WHAT IS THE MINIMUM SCORE TO HAVE A CREDIT CARD?

The score assesses your acknowledge circumstance for a score on a scale that goes from 499 (low score) to 775 (magnificent score). The base FICO rating to have a Mastercard is more prominent than 730 places in your score.

On the off chance that the monetary establishment tracks down a low score, for instance, at 330, it implies that the client doesn’t pay their obligations on time; this is deterring for the bank and leaves you as a terrible competitor.

Then again, assuming the score goes from 450 to 550, it implies that the individual has some overdue debts in their installments, yet they could be thought of. At last, in the event that a client is in the know regarding his installments, has no obligations or overdue debts, the substance will find a positive score of in excess of 730 places and will be an ideal possibility for a Mastercard.

WHERE TO CHECK THE SCORE?

To check your financial assessment, visit the page www.burodecredito.com.mx. It has an expense of 58 pesos and you just need your extraordinary credit report that you get in total agreement, this record has all the data on your credits; It is likewise critical that you have close by a legitimate authority distinguishing proof and the most recent record explanation of your Mastercard, contract credit, or vehicle in the event that you have one.

You can likewise figure out your score by going to the Credit Bureau client assistance office or by calling (55) 5449 4054 or 800 640 7920.

HOW TO RAISE MY SCORE QUICKLY?

A few hints to further develop your FICO rating rapidly are:

  • Pay your credits on time so as not to influence your record of loan repayment.
  • In the event that you are behind in an installment, get forward-thinking to keep paying on the laid out dates.
  • On the off chance that your installments are late, go amazingly grantors to adjust your installment plan.
  • Prior to applying for a credit, think about your getting limit. To know your obligation limit, deduct your decent costs from your month to month pay, then duplicate the outcome by 0.40. This will be the greatest capital for which you can acquire without jeopardizing your monetary solidness. Specialists suggest that the obligation limit doesn’t surpass 40% of month to month net gain.
  • Use credit dependably.

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