Everywhere it is possible to find a favorite. In the office, the boss’s favorite is never missing; at school, the favorite student of teachers; there is even the favorite grandson, although the grandmothers are determined to deny it. And even if you don’t believe it, banks also have “favorite customers,” and becoming one of them doesn’t have to be impossible.
In a nutshell, if you are a customer that banks see with eyes of approval and love, they will grant you credits faster, it will rain proposals for new credit cards and offer you better interest rates than you think . Sounds like a good life, doesn’t it? Quiet, you can also achieve it, just know some secrets.
How to become the favorite
The key to achieving this has to do with your credit score at the risk centers such as Credit Data. Banks and financial institutions are interested in seeing how fulfilled you are when you have debts, how much you borrow and with what financial products you have experienced. All that information will determine if your credit history will be positive or negative, and how many points you give for it.
So, if you pay your debts on time, you have an acceptable number of credit cards, you do not exceed your ability to pay, among others, you will get a good score.
How scores are handled in Credit Data
The more points you have, the more ‘handsome’ or ‘beautiful’ the banks see it; The less points you have, the less they will want it. In Credit Data the score ranges from 500 to 1 000 points. Even scores that go between 700 and 750 are not ideal numbers, and still have a poor connotation.
It doesn’t happen from one moment to the other
If you think that making a payment to date already becomes a highly requested profile, you should know that it is not. The process of building a good track record can take a few months, and the best thing you can do to build it is to work based on your payment habits, as banks will see your payment history.
In the same way, if you become more indebted or do badly with some credit and fall into default, it does not mean that you ruined your financial reputation or score forever. There are ways in which you can recover it, mainly, with time and showing that your credit behavior is correct. And of course, avoiding falling back into the same situation once again.
Is it better to be or not to be?
If you have never had a financial product, it does not mean that you will have a better score than someone who is in debt. Actually, both situations are negative. If you have never had a card or credit, you have no credit history. The risk center does not know who it is and banks cannot determine whether it is a good or a bad customer. Ideally, start your relationship with credit and manage it in a stable way, without risking too much.
What can you do to get a good score?
The most basic actions have to do with paying your debts on time. Keep in mind the expiration dates of your cards and do not stop paying them before the day arrives; otherwise, you will not only have to pay a delay, but it will damage your history. Seeking to reduce your credit balances by advancing fees is also very useful.
On the other hand, something that not many know is that the variety of products you buy also makes a difference. If you have many credit cards, you could simply have one and request a credit, or some related action, and that will be highly valued by the banks, because it shows that you understand the different needs and the different financial products. Among all, one of the best valued are housing loans, as they show that they care about building their assets.
Something you should not forget is that you will not receive a call from the bank saying: “Hello, we inform you that your score is very low and nobody will give you a loan.” It is you who must find out how you are in the system and start making the respective changes to become a financial rockstar. When you least expect it, if you request a consumer credit, you will see that the application is approved without problems.