What is a credit history?
A credit history is all information about loans: where, how much you took them and how conscientiously (or not) they paid. It is on this information that the bank relies when it makes a decision to grant a loan. And a positive reputation in most cases is rewarded with lower rates.
When a bank refuses a loan
The bank starts to get nervous when the credit history is empty, that is, there are no notes on loans. The bank does not know how to evaluate the client: how will he behave if he approves the loan? In the current economic situation, the bank prefers to be reinsured and does not give out a loan, rather than issue it, and then collect the overdue debt or resell it to the collectors.
The Bank is alarmed when the credit history contains not the data that the borrower indicated in the questionnaire. For example, if he has changed his passport, and has not informed the BCH, there is a discrepancy. A bank employee can still enter the position. But if the analysis of history is made using a scoring formula, then the computer does not care why the numbers are different. He gives out: “A sign of fraud” – and they do not approve of the loan.
The issuance of a loan is affected and many calls in a row in different banks in a short period of time. Three, five, seven – not yet the limit, some manage to apply to twenty or more banks at the same time.
Influence and have the signs of a “credit pyramid”. This is if the loan repayment schedule shows that the borrower seems to be returning everything, but each subsequent loan is bigger than the previous one, and part of it goes exactly to repay it.
But sometimes the reason for refusing to issue a loan are mistakes in credit history – they can and should be eliminated.
Where to Find Your Credit History
All information about loans is in the credit history bureau – every Russian has the right to learn it for free every year. There are only 25 such bureaus in Russia. But about 90% of the stories are stored in four main BCHs – NBKI, OKB, Ekvifax and Russian Standard. Each of them receives information from certain banks. For example, the NBKI collects information on loans from Alfa-Bank and a dozen other large financial organizations, OKB stores data of Sberbank’s clients, Ekvifax-Home Credit, and Russian Standard, the Russian Standard Bank. Therefore, if you once took a loan in one of these banks, it is easier to come to the right bureau with a passport and get your credit history right away.
You can go another way: find your code of the subject of credit history and independently learn through the site of the Central Bank, in which bureaus lie information about your loan history. Then, either make a personal visit to them, or send a letter, assuring your signature from the notary. After sending the letter you will have to wait an answer about a month.
There is a third option. It is not free, but it does not require much effort – contact one of the companies that provide services to provide your credit history online. Similar services are available and large BCH.
How to study documents
We carefully look at the credit file. It consists of three parts, the first of which is the title one. It contains your passport data, date of birth, TIN and insurance certificate number. Do not be lazy and compare all the information with your documents. It happens that because of an error in the name or date of birth in your credit history, other people’s loans may be indicated.
The second part is the main one. It contains important data about your loans: their amount, term, dates of payments and repayments, possible delays. Look, perhaps, among the current loans are those that you have already repaid. It happens that the bank did not notify the BCH on time or did not mention the details of the next payment. Your fault in this is not, but a dark spot will remain in your credit history.
And, finally, the closed part. It reflects information about the lender and users who requested your credit history. Access to it is available only to you and the bank, which has received the formal consent from you for the processing of personal data. And only in exceptional cases, the prosecutors and the court can review the closed part. Therefore, carefully examine whether there are suspicious organizations among those who requested your history. They must be reported to the BCH.
How to fix errors
If you see an inaccuracy in the credit history – write about it to the bank that allowed it, or the credit bureau and attach evidence of its rightness. Theoretically, after 30 days all errors should be eliminated, and the data updated. But it’s better to see your story again in three to four months to make sure that she’s okay.
And most importantly, never contact those who invite you to correct or delete your bad credit history. It is impossible to do this in a legal way.