Colloquially we refer to “being in the Credit Bureau” as something negative. But we shred this phrase. The information of anyone who has managed a credit card with a banking or financial institution and has paid it on time or not, insurance is in the Bureau with the respective positive or negative rating.
Credit Information Societies are made up of several companies that people have adopted as “bureau” or “credit bureau”, but let’s say that is a specific firm, although there are others, such as that are also dedicated to shaping the “credit history.”
What information is in the credit reports?
In these documents you will find:
- Each of the loans you have requested,
- Purchases made with credit cards,
- If you have paid on time,
- How many delays have you had,
- If debts are pending settlement.
So it is not that some institution specifically “got you” into the bureau. Anyone who has credit or has used credit is registered in these databases. If your behavior as a debtor has been good and you are a responsible payer, these companies qualify you positively so that you continue to be a subject of credit.
If you have incurred in default, then these companies will put it in your document, to put it simply, but it means that in your record they noted that you lost your ability to pay and therefore you are no longer reliable to request a loan again .
What does the Credit Bureau do?
Among the activities of credit information companies we list at least 5 fundamentals:
- Integrate information provided by financial institutions.
- They create a file for each debtor that contains data on the credits he has and has had.
- Inform debtors about the queries that credit grantors and service providers make to your credit history through the Credit Report.
- They give certainty about the behavior of each debtor from the financial and credit point of view.
- In case you have a positive record, they help you get a loan faster.
What do I need to check my Credit Bureau?
Remember that every year you can make a free consultation of your credit history. The subsequent ones you do in that period will have a cost. Just access the site and have the following information on hand:
- Basic personal data:
- Date of birth
- CURP and RFC
- Credit card number,
- Credit limit and granting institution
- Identification number of the mortgage or automobile credit (if any has been acquired in the last four years) and which company authorized it.
If you are with a negative record, it is also not like to wish the Earth to swallow you. There’s a solution. You can go with a credit repair company that will help you better understand how financial institutions work and will help you plan a savings that will allow you to settle your debts to clean your registry.