Did you know that a credit record is the cover letter the bank has about us? With each loan we get, we create our credit history throughout our lives. A positive rating gives you financing opportunities such as mortgage or vehicle loans. Therefore, in this blog we give you some tips to keep your credit record “clean”.
Stay up to date
Keep in mind all your payment dates to cancel on time. If you have requested a loan, it is best to agree with the bank that the payment date coincides with that of your salary deposit so you will not have complications to pay.
Pay in advance
Paying before the due date of your debt will strengthen your credit profile. Many people believe that paying after the set date is no problem, but being late can affect your history negatively.
Know your ability to pay
For this you only have to subtract your fixed monthly expenses from your net income, try to include your current debts and your monthly savings. The result you will get is your real ability to pay and the limit you can use per month to acquire a new debt.
Have extra savings
It is important that you have an extra savings fund to settle debts or unforeseen expenses such as a health emergency.
Make a chart in Excel indicating the total amount of your debt, how much you should pay interest, how much you should pay monthly and what is the deadline for payment. Remember that the banking institutions have granted you a loan so you can use it in what you need, avoid not closing the doors to future loans yourself.
In Professional Credits we provide you with the sources of financing you need to make your dreams come true. If you want to know more information about it, do not hesitate to ask us! We invite you to click on the image below to learn more about professional credits and achieve your immediate goals.
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