2023-10-24 04:03:06
When making a credit application to a financial institution It is essential to know in advance how these entities evaluate us. Knowing how finances work is a priority today, especially when investing.
It is worth remembering that since 2012 There is no Risk Center in Ecuador. In its place is the Credit bureau, which “collects all the credit information of a person in banks, cooperatives, commercial houses and service provider companies. Its main function is to record the payments or non-payments of debts, from which a credit rating is established,” explains the lawyer. Caesar Colonelgeneral manager of Defensadeudores.ec.
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In accordance with Asobanca and Aval Buro, Until March 2023, 27.66% of people with loans in the country pay late, 67.22% have good payment behavior, while 5.13% correspond to new clients
How is the rating established in the Credit Bureau?
Asobanca – says Coronel – establishes a rating that ranges from 0 to 999 points, and reflects the reliability and punctuality in payment compliance. “The higher the score, the greater the probability of accessing credit with better conditions.”
Those people with a score between 689 y 999 are considered low risk, demonstrating few or no arrears in the last 36 months. Those with a score between 377 and 689 have some delays, while those in the range of 1 to 377 have experienced repeated delays in the same period.
You should know that all entities consult the Bureau before granting a loan, to evaluate the health and financial solvency of a person, so maintain responsible credit management and a good qualification is essential to open doors to financing opportunities.
This is how you can improve your credit record
Pay your debts on time: Being consistent with payments demonstrates a commitment to financial responsibilities. Be clear about the due date to avoid falling into arrears, and consider the possibility of establishing automatic debits to facilitate payments. If you have overdue debts, try to catch up: Late payments negatively affect your rating and interest will also accumulate. daily.Reduce the use of your credit: Keeping balances below 30% of the total amount will allow you to avoid over-indebtedness.Do not pay the minimum installments: Try to pay all expenses or advance payments. This action will allow you to save on interest and pay off debts more quickly. Avoid requesting several loans at the same time: This can generate insecurity in financial institutions, affecting your credit image. Also, do not apply for new credit to pay debts, it can become a vicious circle. Regularly review your history in the Credit Bureau: Detecting and correcting possible errors or inaccuracies in your history is essential to maintain a good rating.
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How to check debts in the Credit Bureau?
To obtain information about credit history, you can use the Superintendency of Banks. In addition, some financial institutions offer this option free of charge to their clients. Alternatively, you can request a report directly from the credit bureaus, paying a fee established by them.
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