2023-06-23 21:36:28
The credit report informs about your history and credit. Photo: Shutterstock
If you are about to buy your motorcycle, or that video console and you don’t know if they will give you your credit, or the card, it is best that you consult your been in the credit bureau, which is one of the factors that define whether or not that loan is approved. However, already in consultations you will find yourself between the credit report and the special one, about whose differences we will talk to you now, which broadly revolve around the information they offer.
And not because you are in the credit bureau does it mean that you do not pay or that you are on the black list, because remember that this is merely a information tool for private institutions to know your performance in terms of payments and loans, both the bad and the good. In this link we give you some tips to make the most of it.
Another thing to take into account before this is that according to the law, in order for a company to offer the credit bureau service, it must be formed as a Credit Information Society (SIC) and be authorized by the Ministry of Finance and Public Credit (SHCP), Bank of Mexico (Banxico) and the National Banking and Securities Commission (CNBV), while there are only two approved ones:
Credit Bureau: Trans Unión de México, SASIC and DUN and Bradstreet, SASICCírculo de Crédito: Círculo de Crédito, SA de CVSIC
Thus, it is only through these institutions that you can obtain your credit history and your “score”. Even when you ask for a loan at a bank, department store or automotive distributor, the rating they give you when approving or rejecting your application is taken from one of those two companies.
With both You can contract the periodic sending of alerts by email or SMS with which you are notified if any company requested your information, a credit was activated or canceled in your name, to keep you aware of these actions that could affect your history. There is also the opposite option of blocking your data so that no one can ask for your information.
What is the difference between a credit report and a special credit report?
It is precisely at this point where credit reports come in, since it is the document issued by one of the two SICs with information on whether you are up to date with your credits, how many you have requested and their amounts, up to six years old.
Both reports divide the information between credit card, mortgage, car, departmental loans and those like the one granted by telephone companies when contracting a postpaid line, so it is very likely that you are in the bureau, even if you do not have one card.
Credit Report
Regarding the difference between both instruments, it stands out that the Credit Report (RC) contains your historybut without going into details such as the information of the companies with whom you have a relationship, such as the famous “score” that banks investigate to give you a card or credit. This is updated once a month.
Likewise, this It is made up of a number between 450 and 800 points that takes into account your punctuality of payment and number of credits, their amounts and balancescomparing your score with the rest of the population in order to help you improve it so that you can obtain better interest rates, as well as larger amounts for when you need it.
This report or score also tells you what factors influenced you to obtain that score and gives you some recommendations to improve it.
Special Credit Report
On the other hand, the Special Credit Report (RCE) is the instrument with which the bureau reports on your history, but with a breakdown of the products you have, the institutions, the balances and the status in which they are, whether cancelled, with punctual or delayed payment. Even in this it appears when the line of credit was suspended after reaching an agreement with the bank to liquidate it through certain terms.
It is also in this where the institutions that request your information will be able to find out if you had problems with the payment of any loan in the last six years, which is the time that these references are kept. For example, if you took advantage of any of the agreements given by banks during the COVID-19 pandemic to settle card debts by paying a reduced amount, or if you had a similar agreement five years ago.
This is made up of the following data:
Credit history Opening dates Last payment and closing dates, if applicable Credit limits Balances Observation and prevention keys Identity of the companies that granted the credits Identity of the companies that consulted your information in the last 24 months
What yes, remember that you are only entitled to one free report every 12 months, so if you need more you will have to pay between 35 and 82.50 pesos for each issue, which you can request online, by phone or directly at one of the offices with which the SICs have, receiving it in the same way in physical or electronic format by email.
While the alerts we were talking about cost between 232 and 280 pesos per year, with the advantage that in addition to notifying you of any change or request for information, they will entitle you to several additional free reports.
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