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How do you create a good credit history from scratch?



When he has just started to enter the financial world, he has built nothing from history. And remember that this is an important point that several entities are considering approving a loan for, for example, buying an apartment or vehicle.

There comes a point in the life of a person where credit cards are no longer a myth and asks "why not?".

However, a large detail that is heard here and there refers to the record or credit history. It sounds important, and in fact it is. For this reason, Gestón explains what it is about and why it is repeated until it is full.

First, there are risk centers. These evaluate whether it is useful to lend money or not. That is, how likely it is that the recipient of the loan will meet his financial obligations. And the credit cards are a type of loan.

"A credit record is defined as the credit rating a person has for credit bureaus, as a result of their behavior in paying their obligations," said Eva Céspedes, Consumer Relations Manager at Asbanc.

The easiest way to observe this behavior is by paying your debts, if it is up-to-date or how long it is delayed.

If you have a delay of more than eight days, you start to become qualified:

– With potential problems: 9 to 30 days.
– Insufficient: 31 to 60 days.
– Doubtful: 61 to 120 days.
– Loss: more than 120 days.

The credit report has a main function, so that companies know if you are used to paying off their debts, an important criterion when applying for a loan.

It is clear that, when he just started to enter the financial world, he has not built up any reputation. And remember, this is an important point that several entities are considering approving a loan for, say, buy an apartment or vehicle.

"The credit history is built primarily by hiring active products (loans, credit cards, among other things) and our behavior with regard to payment determines the rating," said the expert.

Of course people are not exempt from problems and they can fall behind with their obligations. In that case you will receive a poor assessment. But it's not the end of the world. It can also be solved.

The simplest option is to pay the debt.

Read the original article here.


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