historial crediticio

To begin, do you know what credit history is and what it is for? What if I’m
in the credit bureau? How do I keep a clean record? There are many questions thatyou’ve likely asked yourself, but don’t worry! Here you will find the answer to each of them.  

Credit history is the sum of credit history and payment behaviors of
a person. Even if you’ve never had a bank card, you have a history with it, the simple fact of having bought a product in installments in a department store, a cellular plan or contracted cable television service.

In this article we explain everything you need to know about credit history, its importance when looking for a mortgage loan and how to keep it clean.

Am I in the Credit Bureau? Know your history

It is common to think that the Credit Bureau is a kind of “black list” of people that are delinquent, but this is not really the case. Let’s clarify: the Credit Bureau is about private companies that keep a record of anyone who has had or has a credit, regardless of your compliance with payments. In Mexico, 27 million people are registered with the Bureau.

This body is in charge of providing information to institutions such as banks or financial entities information about the history of people who are applying for a loan.

How to keep a clean credit history

t is important to have a good credit history because it will open many doors for you when want to acquire a new credit or increase the credit limit you currently have.

This is because the bank or financial institution will analyze your payment behavior to decide whether or not to grant your request.

  • Analyze your ability to pay

Make a balance of income and expenses. On many occasions, consumers tend to think that a bank card is “extra money” that they can spend up to the limit of credit. Use it in cases of emergency or for payments that will be paid in the following month.

It is recommended that 60% of the income be used for current expenses such as food, transportation, services, housing and, if possible, savings. The remaining 40% must be used for the payment of debts, of which 30% must be used for mortgage credit and the other 10% for payments such as credit cards, payments in department stores, among others.

  • Pay on time and, preferably, make the full payment

Making payments before the due date helps you build a positive credit history. Try make the payment for the total amount of the debt each month so as not to generate interest that transforms into endless debt.

Never miss out on paying, even if it is especially difficult for you to do so,
Try to at least pay the minimum payment.

What happens if you are in the Credit Bureau with a negative image?

The first thing you have to do is not think about negative things, and approach the financial institution that granted you the loan, they are usually willing to restructure the debt.

They can also give you the option of a capital reduction, that is, a reduction of thedebt for cash payment. Consider that this last option can leave a bad mark on your record for a few years.

A good score in the Credit Bureau guarantees that you are a trustworthy payer, which adds points in your favor at the time of requesting a loan from a financial institution or business.

Remember that at Casas JAVER we are here to advise you in the process of buying a new house. Do not hesitate to contact us so that an advisor can give you a suitable follow-up.