How to know if I am in the Credit Bureau
Before applying for a loan you should know what your credit history is. This will allow you to have an idea of what kind of rates you can get on your loan.
Here they will try to give you some tips about what it is and how to know what is yours.
While being reported in the Bureau, some companies offer loans without checking the Credit Bureau that will allow you to obtain financing.
What is the credit history?
A credit history is the report generated by a risk rating agency that details all of a person’s financial background, that is, all of their payment and default history.
In Mexico, the best known credit report is the one generated by the Buró de Crédito company.
What is the Credit Bureau?
The Credit Bureau is a private company registered as a risk center in Mexico. Collect, manage and deliver the credit histories of individuals and organizations.
Then share the information with the financial institutions that grant loans and credits.
This report is used by banks as an instrument to assess the solvency and ability to pay of a person requesting a loan. That is why it is important to check your history before applying for a loan.
There are two types of reports that a person can access:
The special report
It shows the history of all the debts you have had throughout your adult life. It is free once a year and for a period of 24 hours. Then it costs $ 35.0 per query.
This report is priced at $ 58 from the first time. It is not essential to review but it does help, since it shows a score associated with your financial profile.
The score is obtained according to your credit history and comparing your profile with the rest of the population in Mexico.
They also give you certain tips to improve your score according to your profile, and thus be able to ask for larger loans.
How to check the Credit Bureau for free
- First step:
First you must enter the Credit Bureau website.
- Second step:
For the special report you must click where it says “Special Credit Report” and follow the steps indicated there.
- Third step:
Before accessing the form they inform you that they will require some information to verify your identity. They can be on a credit card or a loan that you have requested. Remember to uncheck the “hiscores” box to access the free report.
- Fourth step:
Then in a form you must enter some personal information and your credits mentioned above.
- Last step:
Finally on screen they will show you your credit history.
For the hiscores report you must go to the section with the same name and complete the same steps mentioned above plus the online payment of the $ 58.
Keep in mind that appearing in the Credit Bureau is not negative in itself, it simply shows your financial background. If they were good, it will be positive for your future loans. If they were negative, you may have some problems.
It is important that you check these portals from time to time, especially if you are a person who has had many loans throughout your life.
You should always try to avoid falling into the list of delinquents (or have a very negative credit history).
However, if this happens, they has some tips to get off the list of bad payers and tips on how to improve your credit history.