I have a clean name, but I can’t get credit. Why?

Is your name clean but can’t get credit? So do not be desperate, this really can happen and can generate some frustration. The fact is that when you try to take out a loan several factors are considered by the financial institutions.

If you are trying to take credit from an institution where you have already been denied, for example, you may be denied your claim history even if you now have a clear name.

Teamico has listed a few points to help you understand why you can’t get credit with institutions and also gives you tips on workarounds:

 

Your debt history gets in the way of your clean name

debt history gets in the way of your clean name

Unfortunately, due to a setback, you may have delayed some fixed bills (housing, transportation, health) and your name has been negated. However, you already got your name cleared back, right? As much as this has happened, you still have a history of debt and institutions can consult you when receiving your credit request. If they find that your commitment to financial commitments is not high, you may still be denied your request.

 

But the parcel fits in your pocket!

But the parcel fits in your pocket!

It is not because the installment fits in your pocket that necessarily means you can take this credit or financing. Just as your debt history is evaluated by the financial institution, they also analyze your ability to repay, which can cause your request to be denied or approved. In the personal loan only the borrower’s financial data are considered and this can weigh in the time of being approved or not.

 

Use your positive track record!

Use your positive track record!

Don’t know Registrato yet? The Information Record Extract, also known as Registrato, is a system that provides information about your banking history and facilitates the assessment of financial institutions when applying for credit. With this data in hand, you can negotiate better interest rates.

 

Keep a financial plan

Keep a financial plan

To avoid the risk of becoming negative and not having your social security number in good standing, use and abuse financial planning to keep your monthly budget under control. This is very important and you will already see changes in your monthly income within 30 days of starting.