Each bank is obliged to assess its client in terms of his loan repayment capacity. It is also necessary to assess the risk associated with granting credit to the customer. That is why banks want and even need to know about every, even the smallest commitment of a person applying for a loan.
Credit Information Bureau is a source of data needed by banks. It has information about the history of repayment of Poles’ liabilities towards banks and credit unions. It stores both positive and negative data.
The first is the borrower’s reliability
Banks can offer such clients better than standard conditions of using the offer or simplified procedures. For example, he can count on lower interest rates on loans, shortening or simplifying procedures, reducing fees and commissions.
On the other hand, information about late repayments of previous liabilities often crosses the chances of a loan. What’s more, even the lack of credit history is a problem in borrowing, because it prevents banks from applying a kind of bonus for the financial reliability of customers.
Financial advisors and representatives of banks agree that every customer who wants to be perceived as an attractive borrower should strive for a positive history of repayment of his liabilities to be available to financial sector institutions, not only during but also after repayment of the loan.
It can be used not only by banks
Everyone who has a positive credit history should consciously treat it as a very important argument in their relations with banks. All you have to do is consent to the processing of information about your expired obligations. Otherwise, we may be perceived by the bank as anonymous persons and we have to take into account less chance of getting a loan.
It is no secret that banks prefer to grant a loan to a person who they know is paying off their installments conscientiously than to a person who they cannot learn from the Credit Information Bureau.
The data collected in the Credit Checker can be used not only by banks but also by customers to whom the data stored therein. Each potential borrower can not only see what banks know about him but also find out what information about him has been provided to lenders. Thanks to the Credit Checker, we can also check your score. In other words, see on what basis the bank assesses the chances that the customer will repay the loan.
In addition, by downloading the reports, you can verify that the data contained in the Credit Checker are consistent with the facts and are updated by banks and credit unions, as well as whether we have obligations that we have forgotten or with which we disagree. You can also verify that the loan we guarantee is properly repaid. Credit Checker is also a place that in the event of loss of documents makes sure that no one has tried to use them.