2023-07-21 20:36:36
To improve credit history, it is important to comply with financial obligations and if you have already done so, you will be interested in knowing how often the information is updated in the Credit Bureau
July 21, 2023 10:35 a.m.
MEXICO.- A good credit history can give you the opportunity to access other, better and larger amounts of financing, but if you do not meet your financial commitments, this will be reflected in the Credit bureau.
If you comply with the payment of your debts, you will improve your credit history and you can get new opportunities | Pexels
to improve the credit history It is important to comply with financial obligations and if you have already done so, you will be interested in knowing how often the information is updated in the Credit Bureau.
How often is the Credit Bureau updated?
The Credit Bureau receives information after each movement in your credit, from when you apply for a card, for example, until you finish paying and updates occur every 10 calendar daysaccording to the debt expert fintech, Resolve your Debt.
It is important that banks and other financial companies have your correct information regarding your performance at the time of fulfilling your financial commitments and that you know your situation before the Credit Bureau.
How bad is it to be in the Credit Bureau?
A frequent but erroneous idea is to believe that being in the Credit Bureau is bad, because all the people who have ever had financing, create a historywhich can be good or bad, depending on your payment behavior.
When will the debts of the Credit Bureau be erased?
The time it takes to erase your bad rating from the Bureau depends on the amount you owe, according to Resolve your Debt:
For debts up to 157 pesosthe registration will be deleted after one year
For debts of up to 3 thousand 145 pesosit will be deleted after 2 years
For debts of more than 6 thousand 304 pesosit will take up to 4 years
For larger debts (with certain conditions), the period to eliminate them is up to 6 years
Loan records greater than 2.5 million pesosare not removed from the Credit Bureau
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