2023-12-06 01:00:13
Are you interested in getting a credit or department card, but they don’t authorize it because you are in the Credit Bureau?
If you have been told that you are being banned for not having paid on time, at DeDinero we share how to improve your credit score to have access to various financing.
Credit Information Companies (SIC), also known as Credit Bureaus, are private companies that have the authorization of the Ministry of Finance and Public Credit (SHCP), as well as the favorable opinion of the Bank of Mexico (Banxico) and the National Banking and Securities Commission (CNBV), to collect, manage, deliver or send information on the credit history of individuals and companies.
That is why the credit bureau becomes the greatest reference for banks and department stores, which rely on credit reports to be able to authorize or decline any card or loan.
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You must understand that being in this registry is not negative, as it contains your entire credit history. That is why the National Commission for the Protection and Defense of Users of Financial Services (Condusef) recommends that you request your credit history periodically; you can request it for free every 12 months.
Likewise, if you had high debts, the Mexican organization invites you to contact banks or department stores to be able to negotiate the debt.
According to the Condusef web portal, it is specified that you may be deleted from the Credit Bureau depending on the amount owed.
Debts less than or equal to 25 dollars (approximately 436.75 Mexican pesos), are eliminated after one year. Debts greater than 25 dollars and up to 500 dollars (approximately 8,735 Mexican pesos), are eliminated after two years. Debts greater than 500 dollars and up to a thousand dollars (approximately 17,470 Mexican pesos), are eliminated after four years. Debts greater than a thousand dollars will be eliminated after six years, as long as the credit is not in judicial process or you have not committed some fraud on your credits.
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