All those who are denied credit even though there are no negative entries in the Private Credit often no longer understand the world. Blame on such decisions could be the Private Credit Score. This score does not really bother about the person. The value of a score is abstract and yet it decides on the allocation of funds. Especially the score encounters incomprehension. Nevertheless, today it is an important issue and proves to be an important criterion in the granting of loans.
If you look at it, a score loses its terror. The results show again and again that the score can only be taken seriously on the basis of the evaluations. Nobody knows the truth, but you should know it well. It protects against wrong assessments.
Tell me who lives there
A role in the evaluation plays the living environment. Districts where high levels of debt are noted, score fewer points in the score. It therefore depends on which postcode you have your address. Even moves are considered negative.
Then data on the credit behavior are evaluated. Were the payments always on time? And how often was the Dispo used to stop. In the case of unemployment, there were rate losses. Such facts are evaluated by the Private Credit. The higher the score achieved, the better.
There are cuts in consumer loans, who buys with good salary constantly on pump, gets point deduction. This also gets people who always pay on time and thus notice their liabilities settle before the end of the contract. Because this process gives the credit institution less revenue.
Not everything is allowed
The score also included analyzes of the reliable family names. However, this has now been prohibited and may no longer be used as a source.
All consumers who manage to achieve a high score in the score are creditworthy in the banking industry. With low numbers, this affects the interest rate. With a low score, banks usually do not give credit.
You can rate the score better
If you want to improve your score, you should pay on time, be down-to-earth and, if possible, do not change jobs often. If one point can not be met, it usually compensates for another positive trait. You can not rely on it. The score is a science and Private Credit tries to make it understandable to the customer. The score can be found in his Private Credit information. If it is rather low, you should go in to find out what it can be.