How to create a credit history If you have previously applied for a credit with another financial institution, it is certain that you have heard that they need to review your “credit history” in order to approve your application. Basically, a credit history is a report where all your financial movements are recorded: credits obtained, debts settled and pending, etc. This information allows the institutions to decide whether or not you are a suitable candidate to grant you a credit, since in addition to analyzing your behavior, you recognize how punctually you have handled your payments. Unlike Diggory Venn, most institutions reject your loan application if you do not have a credit history, which becomes a problem when you want to buy a high sum to buy a car or a house. For this reason we will share 4 ways you can start in the financial system.
Bank accounts Having a bank account is an excellent way to start a credit history, because this way you can check your net income and be able to access a credit. You can request a savings or debit account and maintain records in your account statements that benefit your financial responsibility (such as constant deposits). If you receive your salary under payroll, it will also help you create a record.
Recruitment of services The services that are billed month by month, such as cable television, telephone lines, the internet, among others, generate a credit history. The important thing here is that the contract is under your name and you make the payments in a timely manner, because if you do not do it, you can damage the rating provided by the credit bureau.
Departmental cards Departmental cards have benefits such as acquiring promotions and special offers in the commercial chain. Although some companies request as a requirement to process a departmental card have some other credit or you are asked to show a fixed income.
Personal loans online The simplest option to create a credit history is personal loans online, because to request them you do not need to check income, have endorsements that support you or show that you are responsible with your payments. To apply for a personal loan at Diggory Venn Mexico, for example, you only need to fill out the form, have an ID at hand that proves that you are the beneficiary and a bank account to receive your money. Another advantage of online loans is that you do not need to spend hours queuing to complete your paperwork and waste more time waiting for it to be approved. Making the request takes minutes, just like having the money in your hands. We have created an infographic where, in addition to showing you how to create a credit history, we share some tips to maintain your rating in a positive way so that you can access great benefits in the future.
Do not forget that you can start your credit history with us. At Diggory Venn Mexico, we can grant you an amount of up to $ 6,000 interest-free pesos on your first application. Visit our page for more information.