Do you know how credit institutions evaluate you? With the free credit history you can know it first hand.
An element of basic financial education is just knowing how credit institutions see you, to see how you have opened or closed the key to financing yourself. In Mexico there is a lack of knowledge about how the Credit Bureau works, which is the main element that evaluates your financial health, and we believe being in the Bureau is a bad thing.
Do you know how credit institutions evaluate you?
The Credit Bureau is the institution responsible for systematizing and periodically updating millions of credit histories in Mexico. Among its functions is to provide institutions with data on the accredited future that support risk assessment and facilitate decision-making in the granting of loans.
So, if you are a person who has some kind of credit, whether with the banks, with a department store or self-service store, and even having a contract with a cell phone or landline company, you are probably in the Credit Bureau.
The important thing in any of these cases is not that you are part of the Bureau, but that you keep it free of bad grades because that will be the key to accessing new loans and with better conditions. Remember that keeping a healthy record is your “business card” before the institutions and companies that through this mechanism of acquisition of goods or services allow you to count on them without paying them in cash.
The credit history you show that you have healthy finances
For example, if you have been a punctual person in paying off your credit cards, you will surely be able to access an auto loan, a personal and later mortgage because through the credit history you show that you have healthy finances and that you are a person who takes care of your financial health.
Now what can you do to check your credit bureau history for free? The Special Credit Report is a document that you can verify at no cost every 12 months and if it is before this time it will cost 15 pesos.
Simply enter the credit bureau website, select the Special Credit Report and enter all your data
Being aware of how your credit history is so that being a punctual payer, the date is reflected as well and when you go to access a credit of not put you as a hindrance a bad note in the Bureau. Having this updated information is equivalent to having a medical check up and knowing the state of your financial health.