How to build a positive credit history?

Credit history is data collected in the Credit Information Bureau on the subject of liability and obligations in paying current and past liabilities. It describes our cooperation with banks and other financial institutions, it contains various financial products: loan guarantees, short and long-term loans, subscription contracts and debit cards.

A positive credit history increases our scoring in the Credit Information Bureau, in other words, credibility towards lenders. This factor may affect the granting of a consumer loan by the bank and the repayment terms.

Often, clients with worse Credit Information Bureau history get credit on worse terms or the loan application will be rejected. So let’s have a good credit history to get, for example, a mortgage on favorable terms.

Why is credit history important for banks?

All this information informs the future borrower what our creditworthiness is and largely determines whether the loan or loan application will be approved. With a good credit history, the bank is able to grant a large amount of cash loans because it knows that we are solvent and we pay our liabilities on time.

Only parabanks offering short-term loans for a small amount do not check the history of the Credit Information Bureau. However, they also enter the borrower into the Credit Information Bureau database in the event of a loan being not repaid on time, reducing its financial credibility.

Such a patch effectively scares off banking institutions, and the removal of unfavorable history is possible only after 5 years from the repayment date of the delayed loan.

What affects a negative credit history?

What affects a negative credit history?

It often happens that when applying for a loan we are issued with a negative decision due to the negative credit history. It is worth knowing the reasons why our credit history looks bad in the eyes of financial institutions. This is not necessarily the result of unpaid loans, and the reasons can be quite different.

Bad credit history can have a variety of causes that affect your refusal to grant a financial liability. The most important of them are:

  1. No timeliness in repayment – this is one of the most important factors that affect the calculation of Credit Information Bureau scoring. This may result in the rejection of the loan application or higher total loan costs.
  2. Difficulties in contacting the bank, where problems with paying the liability – in case of problems with repayment of the loan, it is best to agree on a joint solution with the bank.
  3. Exceeding credit card debits – Exceeding the bank’s designated credit lines, i.e. debits, gives us a bad credit history.
  4. Multi-stage debt resulting in numerous delays in repayment.
  5. No credit history – if we have never taken any credit, we are not financially reliable.

How to check your credit history in the Credit Information Bureau?

How to check your credit history in the Credit Information Bureau?

Before going to the bank to apply for a mortgage or cash loan, it is worth checking our credit history at the Credit Information Bureau.

It may happen that there is information about unpaid loans, and a period of 5 years has passed, from which you can try to remove adverse data from the database. We can also remove consolidated loans or remove false or information contained in the Credit Information Bureau.

Just set up an account in the Credit Information Bureau, login, and then download the free report from the Credit Information Bureau. In the event that we want to obtain very accurate data from the Credit Information Bureau, we recommend choosing the paid extended version.

Ways to build a positive credit history

Creating a credit history requires time, responsibility and knowledge. However, having a positive history will bring success to those who apply for a mortgage at a bank or other financial institution.

Here are some practical tips on how to raise your credit history in the eyes of banks:

  1. Repaying obligations on time – there is nothing worse for a consumer than a delay with loan repayment, try to watch over your loans.
  2. Using financial product offers – without any credit history, we are not very reliable. The large amount of liabilities repaid on time and those in the repayment history in credit history will be a sign for banks that you are solvent.
  3. Avoiding debt collection and debt enforcement proceedings – they show that the client had serious financial problems.
  4. Having a credit card – you can pay off debits on a credit card, but this involves high interest.
  5. Buying in installments – timely repayment of equipment in installments appears in the BIG database and positively affects our consumer rating.

Unsecured loans online – check details

If you are looking for a way to borrow money – without many formalities and in a short time, check the offers of non-bank companies. They often offer loans online. Analyze your financial situation and check if this solution is for you.

Loans without creditworthiness online – how is this possible? Who grants loans?

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You may have already had the opportunity to apply for a bank loan. If so, you know that granting a loan involves a number of formalities. It is usually necessary to provide a certificate of employment and income, sometimes also an account statement.

The bank also verifies the GFI (Good Finance Information) and KRD (National Debt Register) databases. This is what the creditworthiness assessment looks like, which the bank must do to grant you credit.

If in the past you had problems with paying off installments on time, if you still have some debts or you cannot confirm your income, you may have problems getting a bank loan. In this situation, non-bank companies can be helpful.

Non-bank companies are private institutions that do not perform banking activities (in legal terms), therefore they cannot grant loans – this is a product reserved exclusively for banks.

However, they offer cash loans (including loans without creditworthiness), which are usually much less formal than loans and shorter processing time. Check what conditions must be met in order to take advantage of a loan without creditworthiness online.

Loan without creditworthiness – what conditions must be met to receive it?

Loan without creditworthiness - what conditions must be met to receive it?

The calculation of creditworthiness in non-bank companies is often not necessary. Usually, it is enough to meet several criteria, although the requirements may vary from institution to institution. Most often, to use a loan without creditworthiness, you must:

  • be at least 18 or 21 years old; the upper age limit is between 65 and 80;
  • use an ID card;
  • be able to indicate the address of registration or residence;
  • provide a contact phone number and bank account number.

In addition, it also happens that companies may require confirmation of earnings or employment, but this is not the rule. Much depends on the company’s rules and the amount you borrow. Therefore, checking the borrower’s creditworthiness is often much less restrictive than in the case of banks, and often even completely abandoned.

Since non-bank companies often do not attach importance to creditworthiness, they also offer consolidation loans without creditworthiness, loans for the unemployed, and even loans for people with debt collection activities.

How much money can you borrow and for how long?

Loans without online creditworthiness are often granted in the form of so-called payday loans. The name refers to both the short time it takes to get a loan and the time you can borrow money. Compared to bank loans, it is relatively short and usually ranges from 15 days to 3 years. The amounts of such loans usually range from PLN 100 to PLN 15,000.

Loans without creditworthiness online – how to get a loan? Step by step instructions

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You can take a loan without an assessment of your creditworthiness in several ways, e.g. on-site, at the company’s headquarters. However, the fastest and easiest way is to apply online. Check the step-by-step process:

  • fill in the online application, in which you must fill in about a dozen or so fields (depending on the company, these numbers may vary) regarding your personal data, possibly earnings or employment;
  • provide the bank account number to which the funds from the loan are to be transferred;
  • make a verification transfer – all you have to do is transfer the set amount to your loan company’s account. Usually, it is a symbolic zloty or a penny. The verification transfer secures both the loan company and you – thanks to this the third party will not be able to use your data and will not take the loan into your account;
  • wait for the application to be verified – it often takes only a few minutes.

If the application is successful, the money can be on your account the same day (depending on which application you make and what hours the loan company is working).

Loans without creditworthiness online without a bank account?

Loans without creditworthiness online without a bank account?

The most common condition for getting a loan without creditworthiness online is having a bank account. If you do not have a bank account, you do not want to provide its number, or you cannot make a verification transfer, it may be that the only way to take a loan will be a visit to the head office of the loan company.

Go to the given address or call and find out everything. You may be able to use e.g. postal order.

How do you find loans without creditworthiness?

How do you find loans without creditworthiness?

Of course, you can find online loan offers mainly on the internet. To help you analyze the conditions of individual loan companies, use the tool, which is the payday comparison tool on the Good Finance website.

All you have to do is enter criteria, such as the loan amount or borrowing time, and the system will show you offers tailored to your needs. Thanks to this, you will not have to browse through the pages of loan companies in search of the best offer.