Thin File credit

Thin File credit

A limited credit history. Having a thin file can make it difficult to obtain credit or approve a loan, but some lenders will consider other payment information not included in the credit reports. A consumer who has had few or no loans or credit cards will have a thin file.

OPENING 'Fine File'
If you have a thin file and want to borrow money, you have several options.

The simplest option, since it depends on the measures you have already taken, is to ask the lender to consider the refund histories that are generally not reported to the credit bureaus, such as utility payments and rental payments. If you are applying for a mortgage, for example, Fannie Mae says that lenders can build a nontraditional credit history for a consumer with a combination of their bank statements, canceled checks, paid invoices and letters of reference from creditors and owners.

Another option that requires more time and effort is to get a secured credit card and start building a credit history. A secured credit card requires you to deposit an amount of money that will serve as your line of credit, so it effectively functions as a debit card. However, since it is technically a credit card, your payment history will be reported to the credit bureaus and will help you establish a credit score after several months. Be sure to get a secured credit card that reports your payment history to the three major credit bureaus and make sure you pay your bills in full and on time. You do not want to create a mediocre or poor credit history. build a strong one Also, look for a secured card with a low or no annual fee.

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Consumer Credit

Consumer Credit

Consumer credit is a debt that a person incurs in buying a good or service. Equal credit includes purchases with credit cards, lines of credit and some loans. Credit is also known as consumer debt. Consumer credit is divided into two classifications: revolving credit and installment credit. The most common form of consumer credit is a credit card.

OPENING 'Consumer Credit'
Economists and other financial analysts often measure consumer credit, which serves as an indicator of economic growth. For example, if consumers can easily borrow money and pay off those debts on time, then the economy is stimulated, resulting in economic growth.

Consumer credit is the portion of the credit that consumers use to buy non-investment services consumed or assets that depreciate rapidly. This includes automobiles, education costs, recreational vehicles (RV), boat loans and trailers, but does not include the debts available to buy in investment accounts or real estate. For example, a mortgage loan is not a consumer credit. However, 65-inch HDTV loaded on a credit card is consumer credit.

Consumer credit allows consumers to obtain an advance or loan to spend money on products or services for family, domestic or personal uses, reimbursed at a specific future date. Retailers, department stores, banks and other financial institutions offer consumer credit.

Advantages of consumer credit
The main advantage of consumer credit is that individuals can buy goods and services and pay them later. Consumers can buy the items they need when their funds are low. Consumer credit offers an alternative form of payment and a monthly payment.

Disadvantages of consumer credit
The main disadvantage of using consumer credit is the cost. If a consumer does not pay the balance of a loan or credit card, this affects the credit scores, the terms and conditions, and the result of the late fees and fines.

Types of consumer credit
The credit in installments is used for a specific purpose, for a defined amount and for a specific period. Payments are usually the same amount each month. Examples of purchases made with credit include large appliances, cars, and furniture. This is a type of loan that offers lower interest rates than the revolving credit. For example, a car company has a lien on the car until the car loan is repaid. The total amount of principal and interest is returned within a predefined period. If the client does not pay the loan, the company can recover the car and collect fines.

The credit can be converted for any purpose. Loans are made continuously for purchases until the consumer reaches their credit limit. Customers receive periodic invoices to make at least a minimum monthly payment. For example, Visa can approve a consumer for a $ 5,000 credit card limit with an interest rate of 13%. If the consumer does not comply with the payments, the credit card company may charge late fees or other penalties.

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Credit Card Balance

Credit Card Balance

The balance of a credit card is the amount of money owed to the credit card company. A new credit card balance can take up to 24 hours to be updated, once the payment has been processed, according to the credit card company and the payment method used. The balance can be positive, negative or zero depending on whether money is owed, if a payment was made greater than the balance or if the balance was paid in full.

FOLDING 'Credit card balance'
The best approach to managing credit effectively is to maintain a zero credit card balance to avoid the high interest rates associated with a positive balance. If there is a positive balance, paying more than the minimum monthly payment pays it faster, resulting in lower interest due to the credit card company.

The balance of a credit card is the amount of the charges owed to a credit card company based on the purchases made that have not yet been paid. The balance includes recent purchases, any unpaid balance, interest charges, annual charges, and any other charges associated with the credit card, such as a late payment fee or inactivity charge. Each new purchase is added to the balance, and each payment made reduces the balance.

Credit limit and score
Paying the balance saves money on credit card interest, which reduces the money paid to the credit card company and increases the monthly cash flow and liquidity. However, carrying a balance from month to month reduces the credit score because it increases the use of credit on the card. An ideal credit utilization is 20% or less. For example, if you have a credit limit of $ 5,000 and a balance of $ 4,000 on your credit card, your credit usage is 80%, which is extremely high. This type of behavior shows creditors and lenders that a cardholder is not responsible for the credit and has a high risk of defaulting on the payment of a loan or credit card in the future.

Maintaining a high credit card balance can cause a disaster. If an unexpected emergency arises, having a high balance reduces the flexibility to use a credit card and increases the chances of becoming more indebted, using risky financial products or paying late fees. The use of credit is one of the factors used to calculate a credit score. Account for 30% of a credit score. Low credit usage demonstrates to creditors and lenders that a cardholder can manage credit responsibly.

Using a credit card is essentially using the money from the credit card company to make a purchase. In addition, a cardholder makes a purchase but pays with the money earned in the future. The key to paying the balance of a credit card is to determine the date of the report; the date on which the credit reporting agency is informed and the invoice is paid before the date of the report or the closing date of the statement, which increases the credit score.

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Credit Rating

Credit Rating

An assessment of a borrower's creditworthiness in general terms or with respect to a particular debt or financial obligation. A credit rating can be assigned to any entity that seeks to borrow money: an individual, a corporation, a state or provincial authority or a sovereign government. The evaluation and evaluation of credit for companies and governments is usually carried out by a credit rating agency such as Standard & Poor's, Moody's or Fitch. These rating agencies are paid by the entity that seeks a credit rating for itself or for one of its debt problems.

OPENING 'Credit rating'
For people, credit ratings are derived from the credit history maintained by credit reporting agencies, such as Equifax (EFX), Experian and TransUnion (TRU).

A loan is essentially a promise, and a credit rating determines the likelihood that the borrower will pay a loan within the limits of the loan contract, without defaulting. A high credit rating indicates a high possibility of repaying the loan in full without any problem; A bad credit rating suggests that the borrower has had problems paying loans in the past, and could follow the same pattern in the future. The credit rating affects the possibilities of the entity to be approved for a given loan or to receive favorable terms for said loan.

Credit ratings apply to businesses and the government, while credit scores apply only to people. (An individual's credit score is reported as a number, usually between 300 and 850. For more details, see What is a good credit score?) Similarly, sovereign credit ratings apply to national governments and governments. Corporate credit ratings apply only to corporations.

Credit rating agencies normally assign letter grades to indicate ratings. Standard & Poor's, for example, has a credit rating scale ranging from AAA (excellent) and AA + to C and D. A debt instrument with a rating lower than BBB- is considered a speculative grade or a junk link, What it means is more likely to not meet the loans.

Why credit ratings are important
The credit ratings for borrowers are based on the substantial due diligence performed by the rating agencies. While a borrower will try to obtain the highest possible credit rating since it has a large impact on the interest rates charged by the lenders, the rating agencies must have a balanced and objective view of the borrower's financial situation and capacity. to pay the debt.

A credit rating not only determines whether a borrower will be approved for a loan, but also the interest rate at which the loan must be repaid. Since businesses rely on loans for many start-up and other expenses, refusing a loan could spell disaster, and a high interest rate is much harder to repay. Credit ratings also play an important role in determining a potential buyer to buy or not to buy bonds. A bad credit rating is a risky investment; indicates a greater probability that the company does not pay its bonds. To learn more about why a high credit score is essential to a business, read The Importance of Your Credit Rating.

It is important that a borrower remain diligent to maintain a high credit rating. Credit ratings are never static; in fact, they change all the time according to the most recent data, and a negative debt will reduce even the best rating. Credit also takes time to accumulate. If an entity has good credit but a short credit history, that does not look as positive as the same credit quality, but with a long history. Debtors want to know that a borrower can maintain good credit steadily over time.

Changes in the credit rating can have a significant impact on financial markets. A good example of this effect is the adverse market reaction to the credit rating downgrade of the US federal government. UU On the part of Standard & Poor's on August 5, 2011. Global stock markets plummeted for weeks after the rebate.

Factors affecting credit ratings and credit scores
There are some factors that credit bureaus take into consideration when assigning a credit rating to an organization. In first

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Bank Credit

Bank credit is the aggregate amount of credit available to a person or company of a banking institution. It is the total amount of funds that financial institutions provide to a person or company. The bank credit of a company or individual depends on the payment capacity of the borrower and the total amount of credit available in the banking institution.

FOLDING 'Bank Credit'
Bank credit for individuals has grown enormously in the last 50 years, as consumers have become accustomed to having multiple credit cards. Some experts predicted that the 2008 financial crisis was a warning signal that meant a return to previous years, when credit, although relatively cheap, was difficult to obtain, especially for people with poor credit histories.
Bank credit is an agreement between banks and borrowers in which banks rely on a borrower to repay the funds plus interest on a loan, credit card or line of credit at a later date. It is money that the banks lend or that they have already lent to the clients.

Bank credit is the total borrowing capacity that banks give to borrowers. It allows borrowers to buy goods or services. However, it requires a fixed minimum monthly payment during a specific period. For example, the most common form of bank credit is a bank credit card. Borrowers start with a zero balance and use the card to make transactions. The borrower pays the balance and borrows again until the credit limit is reached.

Approval
The approval of the bank loan depends on the credit rating and the debtor's income or other factors, such as assets, guarantees or the total of existing debt obligations. There are several ways to guarantee approval, such as reducing the total debt / income ratio. An acceptable ratio of debt to income is 36%; however, 28% is ideal. Borrowers must maintain card balances at 20% or less of the credit limit and pay all overdue accounts. However, banks offer loans to borrowers with poor credit histories with terms that are most favorable to banks but less favorable to borrowers.

Enrollment
Bank credit has a cost. The cost and terms vary according to the bank, the type of credit, the credit rating of the borrower and the purpose of the funds. There are two types of secured and unsecured bank loans. Both have different requirements, rates, interest rates, terms and conditions and regulations. The fees include the amount borrowed plus interest and other charges. Some fees are mandatory, such as interest rates, some are optional, such as credit insurance, and others are based on events, such as late fees.

Commercial credit
Many companies need business financing to pay upfront costs, pay for goods and services or supplement cash flow. As a result, new companies or small businesses use bank credit as short-term financing.

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Trade Credit

Trade Credit

A commercial credit is an agreement where a client can buy goods on account (without paying in cash), paying the supplier at a later date. In general, when the goods are delivered, a commercial credit is granted for a specific number of days: 30, 60 or 90. Jewelry companies sometimes extend the credit to 180 days or more. Commercial credit is essentially a credit that one company gives to another for the purchase of goods and services.

FASTENING 'Trade Credit'
The number of days for which a credit is granted is determined by the company that allows the credit, and both the company that allows the credit and the company that receives it agree to it. With the extension of the payment date, the company that receives the credit could sell the goods and use the net income to pay the debt. This type of credit is sometimes granted to encourage sales. Sometimes, a provider can give a discount, if the customer pays within a certain period of time. For example, a 2% discount if the payment is received within 10 days after the issuance of a 30-day credit.

Commercial credit applies to inter-company trade, and has been an essential way for companies to finance growth in the short term. Vendors or suppliers generally do not extend commercial credit to companies that have not yet established good credit, or have not demonstrated that they can make payments on time. However, commercial credit is a useful option for companies to receive crucial supplies for growth without paying immediately. In this way, they can sell their product before the payment expires, or use the cash flow released for other commercial purposes.

Another way of thinking about commercial credit is as a form of short-term debt, and yet it does not require any absolute interest, it often takes the form of an informal contract and is not issued by any bank or financial institution. Even so, if a supplier or company does not receive payment within the agreed terms of commercial credit, sanctions may be incurred in the form of fees and interest. It is worth noting that, in general, the supplier has a great interest in the survival of the company to which it has extended commercial credit. This ongoing business relationship is different from that of a typical bank and loan borrower, since the provider can choose to be more flexible with repayment terms; and in fact, he often chooses to do it.

Trends of 'Credit Trade'
Commercial credit is more rewarding for companies that do not have many financing options. After the 2008 financial crisis, traditional financing options for small businesses, such as debt and equity financing, became increasingly limited. Evidence of this is seen in the relatively recent increase in alternative financing means, such as crowdfunding and peer loans.

From an international point of view, studies have found that in countries outside the United States, commercial credit accounts for approximately 20% of all externally financed investment. Bank credit was the only form of financing more important than commercial credit, which shows that in most of the countries surveyed, commercial credit was the second most important financing option.

Similarly, research conducted in the United States, such as that of the Small Business Finance Survey conducted by the Federal Reserve Bank, demonstrates the importance of commercial credit. Commercial credit is used by approximately 60% of small businesses in the US UU., Which makes it the second most popular financing option after that of banks and other financial institutions.

Related terms and concepts
Commercial credit has a significant impact on the financing of companies and, therefore, is linked to other financing terms and concepts. Other important terms that affect commercial financing and financial futures are the credit rating, the commercial line and the buyer's credit. A credit rating is a general assessment of the credit worthiness of a borrower, whether a business or individual, based on financial history that includes timely payment of debt and other factors. Without a good credit rating, you can not offer business credit to a company.

A commercial line, or business line, is the credit account registration provided to a credit reporting agency, such as Standard & Poor's, Moody's or Fitch. The buyer's credit is related to international trade and is essentially a loan granted to importers specifically to finance the purchase of goods and services.

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What is 'Credit'
Credit is a contractual agreement in which a borrower receives something of value now and agrees to repay the lender at a future date, usually with interest. Credit also refers to an accounting entry that either decreases assets or increases liabilities and equity in the company's balance sheet. In addition, in the company's income statement, a debit reduces net income, while a credit increases net income.
ABANDONING 'Credit'
The credit also refers to the creditworthiness or credit history of a person or company. For example, someone may say, "You have a lot of credit so you do not worry about the bank rejecting your mortgage application." In other cases, the credit refers to a deduction in the amount owed. For example, imagine that someone owes your credit card company $ 1,000, but returns a purchase worth $ 300 to the store. He receives a credit in his account and then owes only $ 700.
Types of credit
There are many different forms of credit. When banks offer their customers car loans, mortgages, signature loans and lines of credit, those are all forms of credit. Essentially, the bank has credited money to the borrower, and the borrower must return it at a future date. For example, when someone makes a purchase at your local mall with your VISA card, your payment is considered a form of credit because you are buying goods with the understanding that you must pay them later.

However, loans are not the only form of credit. When providers provide products or services to an individual but do not require payment until later, that is a form of credit. For example, if a restaurant receives a truck full of food from a vendor, but the vendor does not demand payment until a month later, the vendor offers the restaurant a form of credit.

Credits in financial statements
In accounting, a credit is an entry that records a sum that has been received. Traditionally, credits appear on the right side of the column with the debits on the left. For example, if someone keeps track of your expenses in a checking account record, records the deposits as credits, and records the money spent or withdrawn from the account as debits.

In addition, if a company purchases something on credit, their accounts must register the transaction in several places of their balance. To explain, imagine that a company purchases merchandise on credit. After the purchase, the company's inventory account increases by the amount of the purchase, adding an asset to the company. However, your field of accounts payable also increases by the amount of the purchase, adding a liability to the company.

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Between 300 and 800 - What is a Good Credit Score?

Nobody knows exactly what the range of credit scores is. But it is said to be between 300 and 850 (at least for FICO). Few people have less than 500 and it is very rare to find one larger than 800.

There are 3 reports and credit scores and you have tools to improve it. Read here what the credit score is and what to do to make it high.

Score from 800 to 850+

A credit more than excellent. Accompanied by years of history is ideal and will always get the lowest interest possible on any debt.

It can mean hundreds of dollars worth of savings a month in your purchases.

Score from 720 to 799

Excellent credit. And they will usually give you the interest rates that give people scores of over 800.

Score from 680 to 719

Good credit. Although it is not perfect you will qualify for most loans. His interest is going to be a bit higher than that of the excellent credit people but he will still qualify for almost everything.

Score from 580 to 619

A credit o.k. the regular. You will have problems applying to some credits. Your interest rates are going to be higher for people with good credit and everything becomes more expensive for you. If you have this score it is considered "Sub-Prime"

Score 500 to 579

Bad credit. You probably have collections, foreclosure, you finished the house or went bankrupt. Most lenders deny credit to these scores or in addition to charging you the highest interest you can ask for payments or security deposits to give you services.

If you need to buy a house and have this score, your only option is an FHA mortgage

Scores under 500

This is the worst of the worst. If you are in this range you need professional help if you want to have a comfortable financial life in the future. Read our articles in this blog on how to improve your credit score and take it up to 800.

Tips to increase your credit score

What works when we want to increase the credit score

Articles about credit score

Credit Score

Remember that every 12 months, you have the right to request a free copy of your Credit Report. It is free and you can read how to order it in another of our articles (http://www.dedeudas.com/category/puntaje-de-credito/)

If you want to know your credit score you should contact one of the companies that generate the number. You will have to pay between $ 15 and $ 45 if you want 1 or 3 scores. If you want to save money, ask the most popular is Equifax.

For more information on your Credit Score and other products, you can contact each of the companies that offer these services:

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5- Advice How to establish good credit


A good credit rating is an essential part of getting good loans and matching the conditions with the lenders. The average FICO credit rating for Americans is approximately 720, which means that half of Americans have a lousy credit rating and the other half a better rating. [1] The only way to establish a good credit rating is to start buying on credit. This is the only way to establish a credit history that reveals your ability to pay for things you can buy or use.

Just set it

1- Having the bills in your name will not affect your credit. Often, this is a misconception to have a positive credit. Large utility companies and telephone companies only report to credit bureaus when payments are not made.

2- Always pay your bills on time.

Pay off all credit card bills completely as soon as you receive them, so that you do not show up as a "defaulter." It may be necessary to obtain a "secured" credit card if your credit rating is already low or does not exist. Do your homework and investigate as some credit card companies with collateral check your credit before giving their approval and can reject you.
Make automatic payments with the bank or credit card company. Almost all credit cards will allow you to make automatic withdrawals from your checking account every month to pay your credit card. In this way, you will not risk to forget the payments nor to register you as a defaulter, which decreases your credit rating. Typically, automatic payments allow you to specify whether you want to do the following:
Sign up to pay the minimum monthly amount. Credit cards will force you to pay a minimum amount each month; otherwise, you run the risk of being penalized.
Sign up to pay the balance on the credit card. Usually, the balance on the credit card, or the amount you have, will change from one month to another. Be sure to avoid an overdraft when you do.
Sign up to pay a fixed amount each month. This fixed amount can be found somewhere between the minimum monthly amount and the balance payments.

Note the possibility that this method does not work for everyone; if you do not, follow another way to establish a credit.

3 - Get a credit card reference.

It is also called a secured credit card. This is a program that many large banks will have, in which you pay a deposit on a credit card (usually equal to the limit) in order to get a card, even when you have a rating lower than a perfect credit. By using this start card, you can set your credit. [2]
Just make sure they declare the card to the major credit rating companies.

4 - Keep a job. 

Many places that ask about your credit rating will also see other information, such as if you can keep a job. If you see that you change jobs every few months, then your credit rating will not really be enough to help you: you will be very risky. Maintaining a single job for some years in a row will seem more stable. This will help you with things like getting a mortgage. [3]
If you look reliable, they may be willing to forget a slightly lower credit rating than ideal.

5- Stay in one place. Like the previous ones, many places will see your history of housing. If you moved many times, you are a risk. However, if you stay in an apartment or house, you will appear much more reliable.

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The assignment of future credits in the contest

We speak of cession of credits, when by virtue of an agreement between the holder of a credit and its creditor (assignor and assignee), a credit is transmitted from the first to the second, being placed in the legal position of the assignor with respect to said credit.

There is not a simple legitimate assignment (the case of a mere mandate for the transferee for which the credit for the account of the assignor), but an assignment that pursues a solution function, that is, in which the assignor - debtor of the assignee , but at the same time a creditor of a third party of joint treatment, through the assignment, a channel for the solvent of its own debt.

This question cannot be analyzed from the classical distinction between the assignment of the solution and the assignment in the liquidation, the assignment "in payment" of the credits or "for the payment" of the credits, which according to DÍEZ PICAZO, it is necessary to differentiate well [1]:

a) The assignment pro solution occurs when the transferee is given by the full payment of the debt that he has against the assignor, by the pure fact of receiving the assigned loan. The assignor only responds to the legitimacy of the assigned loan but does not respond - except for an express agreement on the solvency of the third party, a debtor of said credit. With the single assignment pro solution of its credit to the assignee and the acceptance of the same by the assignee, the assignor is "freed" of its debt.

b) On the contrary, in the assignment of the loan of credit, the transferor does for the guarantee of solvency, and for that reason, its debt is only really extinguished when the transferred loan has been effectively collected by the transferee.

At the time of setting up the assignment under another model, full freedom to the parties, and the problem arises when the outcome is unclear what concrete type of assignment is to be agreed upon. One respect of this, I understand that the interpretation must take place in favor of the assignment by the solvent, which is the least sacrifices for the assignee, so it does not seem reasonable to burden on these more risks of the obligations of what was expressly accepted.

On the other hand, it is possible to consider whether in both types occurs in all the effect - very transcendent, also for insolvency purposes that the transferee becomes cash holder of the credit as a direct consequence of the assignment.

Initially, the Supreme Court came to form a line of jurisprudence that denied translative effectiveness to the pro solved assignment. Thus, judgments 67/2001 of 2 February 2001; 677/2003, of 27 June; 136/2004 of 5 March 2004; and 1315/2007, of 4 December.

But later, both Judgment 125/2008 of February 22 and 650/2013 of November 6 indicate the full translative effectiveness of the assignment, either pro solute or pro solvendo, stating that the fact that in the latter the assignor is not released only when the transferee covers the assigned receivable, does not prevent the full translation effect, so that the assignee holds the assigned receivable from the time the assignment was carried out, and not since the credit was satisfied ceded. This position has subsequently been endorsed by Judgment 62/2014 of February 25, stating the following: "Recently, we have had the opportunity to confirm that the transferability efficiency of the assignment of credits operates not only when it has been carried out pro solution, but also when it is pro solvendo, ... ".

Having said this, it should be pointed out that in our Ordinance, early assignments of future receivables are possible, but subject to the essential requirement that the defining characteristics of the future credit be adequately determined, at the latest, at the time of its birth, without need for a new agreement between the parties.

The aforementioned STS no. 650/2013 of 6 November not only confirms that this possibility is perfectly possible; but also:

It confirms the need to determine the defining characteristics of the future loan granted, at the latest at the time of its birth;
It specifies the moment when the transfer of the credit from the assignor to the transferee takes place ("at the instant of the credit's birth") when "the assignment is granted".
And it determines that the credit content that will be understood as transferred to the transferee will be the one with which the credit is actually born at the future moment.
On the other hand, Judgment 186/2016 of March 18, adds that: "... the credit in question - according to the most authoritative opinion - [2]" will be born immediately in the head of the assignee, based on the expectation of acquisition already transmitted while the transferor still had the free disposition of the patrimony "

In this sense, if the future loan receivable became "present" before the transferor's tender, its birth, and the consequent transferability in favor of the assignee, would have been verified prior to the tender, and nothing would justify that "good" belonging to others is integrated into the active mass.

And when said credit loses its status as "future" after the assignor's declaration of competition, I understand that the solution is given by the cited case law when it states that "it will be born immediately in the hands of the assignee, based on the expectation of acquisition and transmitted ". That is to say, at the same time as the assignment of the future receivable, this credit, which is necessarily determined, falls immediately within the scope of the assignee, so that the subsequent and definitive post-insolvency break-in does not affect the ownership of the assignee and that credit, even if it has been made "present" after the declaration of competition, must not integrate the active lump.

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The Future of Credit Cards

We recently published a note about thieves stalking automated teller machines to steal where we highlight how easy it is to fall into their networks and, consequently, lose money. The reason? The rudimentary system that ATMs have, dating back to 1970. And the data stored on the magnetic tape are written as "flat texts", so the famous PIN (the famous security code that protects the account) is very easy to steal.

Future of Credit Cards Protection
Needless to say, the banking sector, which today loses significant sums of money to skimming, makes its greatest efforts to implement the best technology that protects users.

To date, the most advanced technology in these proceedings is EMV, ie chip cards. Due to their popularity in Europe and Canada, these countries experienced a decline in the number of scams. Thieves who use skimmers traveled to North American and Asian territory where EMV cards are, in today's sun, widely used.

As advanced as EMV card technologies may seem, it is not ideal, as it can not combat 100% of potential threats (skimming techniques are constantly evolving). So it is likely that we will use other types of cards in the future. What would those cards look like? Let's have a look.

Key and answer

The most obvious solution is to incorporate another level of security, such as the two-factor authentication used on the Internet (and with good results). When paying online, the cardholder must place not only the security code CVV2 on the back of the card but also a password generated at random or by a token device, which is printed by ATM or is sent to a mobile phone via an SMS. This technique can be used in offline transactions with large sums of money.

Integrated screen banking cards employ a similar authentication method. Such is the case of common credit cards equipped with a mini-computer, an LCD screen, and a digital keyboard. In addition to generating unique passwords, they are able to display balance sheets and transaction history, among other aspects.

While the first interactive cards have been in the market for more than five years, only some banks in Europe, USA and Asia offer them to their customers.

Card on demand

Dynamics, an American company, offers an even more exotic solution. Their cards do not have a stable magnetic stripe in the sense of the word. This is made up dynamically and on demand thanks to the hardware that has built-in, that is, from the generation of a password through an integrated keyboard.

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In case the password is not entered, the magnetic stripe is not generated and, in addition, the operation is not performed. This kind of cards lack the 16 numbers that usually have the conventional ones; a part of the numerical sequence is not present in the plastic, but rather on the screen after the user has entered the password.

Can I have your finger?

A password can, in effect, be a powerful way to protect your card; however it is easy for an absent-minded person not to keep it a secret. We all know of stories about "wise" people who like to write a PIN for every card they have and then lose it.

Authentication based on biometrics is a radical solution to this problem. Zwipe, a Norwegian-based company associated with Mastercard, is currently testing credit cards with an integrated fingerprint scanner. All you need to approve a transaction is by placing your finger on the contact plate and ... well, goodbye, PIN!

Quantum technology to the rescue

Computers with quantum technology are still a long way from us, despite decades of research. But there is a positive side: some of its characteristics will serve to create identifiers that preclude counterfeiting.

Dutch researchers at the University of Twente and the University of Technology in Eindhoven plan to use quantum on credit cards and personal identifiers. While it is currently under probation, it is named Quantum Security Authentication (QSA for its acronym in English).

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This is the credit card of the future


An electronic credit card that is valid for all accounts. Hide your number and erase the magnetic stripe information after each use. Valid with current card readers. The same size as the current ones, resistant to damage. Well, it already exists and the banks are experimenting with it.

Abc
Banks are already experimenting with the 2.0 cards
Startup Dynamics continues to reap prizes thanks to Card. The last one, 1,000,000 dollars at the DEMO fair. Not for less, since its technology is called to renew the credit card system with a simple, secure product and it can unify accounts. They have five models in development, but only two have been submitted at the moment.
Card 2.0 Hidden is a card that bets for security. The card number and magnetic stripe are electrical and are normally disabled. To make them work, the user must type a code in the buttons on the front. Then the complete card number appears to make online purchases by entering it or the band is activated to pass it by a reader. After a short period of time, the card is disconnected so that the number is not visible and the information of the magnetic stripe is erased.
Therefore, even if the Hidden card is stolen or lost, no one can use it without knowing the activation code. In addition, a small red led tells you when it is active.
Card 2.0 Multi-account is a more conventional card. However, they are actually two cards integrated into one. Two printed card numbers appear on the front, which may belong to different bank accounts or be different card types, for example, debit one and credit the other. The user must select at any moment one of them and, at that moment, the Electronic Stripe magnetic stripe loads the information corresponding to the chosen account. Also in this one, a small red led indicates which is the active account.
The company guarantees its reliability despite being electronic, as it is made waterproof and scratch proof. What they have not explained, however, is how it feeds on energy.

Card 2.0 is not going to stay in one more invention. Dynamics is working with some major US banks, primarily on anti-theft system testing. There is already a launch plan and the company expects it to be on sale soon. While companies like Mastercard are launching payments without a card, the cards evolve to make everything simpler.

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The future card: this is how the industry is working to make your credit card more than just a means of payment

Reinventing the credit card at a time when it seems that the technological momentum will take payments from the mobile does not seem simple. Let's see how the industry is working to create the future card.

The credit card also evolves technologically. Over the years have been introduced different changes that have made the card that we have in our portfolio today only retain some aesthetic looks with the first cards. Let's see how the industry is working so that the future card is more than just a means of payment.

Although credit cards have evolved, they basically allow you to do the same thing as in your origins. Of course, when it comes to pointing out the improvements, you have to pause in two key aspects. First, the incorporation of the chip has improved the safety with respect to the use of magnetic stripe reading. In this way, the need to sign the receipt of the card was changed by entering a PIN that is verified directly with the depository of the card.

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On the other hand, the incorporation of the contactless technology facilitates the communication between card and POS. It is enough to bring the credit card close to the POS to a close distance so that the exchange of information takes place. This makes payments much faster since we do not need to remove the card from the wallet or the wallet, and simply approach the POS to recognize the payment. From here we can only enter the PIN if necessary to authorize the operation.


The card of the future, some industry proposals

But despite the growing trend towards the incorporation of the card into mobile devices, the industry continues to innovate looking to reinvent the so-called "plastic money". This is the case of Wallaby Financial, a startup that has created a smart card that allows associating all our credit cards. In this way, we have a unique card with which we pay for all purchases.

When choosing which one to pay, it does so based on different algorithms that have to do with our preferences, availability, and so on. This way it ends up with the process of testing with different cards when one of them does not work or does not have enough balance.

Another example is the proposal for a Display Card, which incorporates a small touch keypad in the card itself that allows identification to make secure payments or for other activities, such as the generation of a security key for access to electronic banking systems.

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This utility of keyboard and screen incorporated in the own card allow the consultation of the balance of the account, the credit limit or the last movements made. In addition, single-use passwords can be created for each transaction, which helps improve the security of electronic payments.

The future is mobile and the card is integrated into the wallet

But the fact is that if we take into account that the number of transactions carried out with the smartphone as a means of payment increases, the future of the card seems to be integrated with the device. The e-wallet, or Wallet, allows us to associate different cards with this wallet that uses the mobile phone to communicate with the POS, approaching both devices, as we have discussed in the case of NFC cards.

This way you do not even need to have a physical card, it can be a virtual card, something that many users use to make purchases over the Internet, such as prepaid cards that recharge to have a separate card, with a limited amount of money, in case of any attempted fraud.

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The advantage of having different cards associated with this Wallet is the possibility of choosing which of them we pay at any time. In addition, the wallet facilitates the creation of targeted deals to customers. And is that the businesses can create different promotions that are applied at the time of payment. In this way, the loyalty card is also integrated in this device with the advantages it has for customers and companies.

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38% of bank credit cards do not allow to exempt the collection of membership

According to the General Manager of the Association of Banks (Asbanc), Adrian Revilla, 88.24% of the credit cards offered by Peruvian banking nationwide requires the payment of an annual membership fee to its clients. However, of this total, 50% allows the exemption of the collection if the clients comply with certain guidelines determined by the banking entities.

"For example, if a customer consumes a sun every month (for 12 months), in the end, he will not pay the membership fee (for a certain type of plastic) to the bank or if he performs certain types of transactions, the bank will not charge him membership. This happens in the banking system, "he said.

However, there is another 38.24% of bank credit cards that do not allow exoneration, according to Revilla during his presentation to the Committee on Consumer Defense and Regulatory Agencies of Congressional Public Services. In this instance a bill is being debated that proposes to regulate the payment of the annual membership of the credit cards in the financial system.


The benefits would be out

It should be noted that there is also 12% of bank credit plastics that do not demand this commission, and that in total, there are 102 different types of credit cards in Peru. "We are concerned (the banks) that Congress approve this bill and withdraw the collection of the annual membership of these credit plastics and that customers, who already have cards, continue to maintain the benefits of these plastics," Revilla said, according to Agencia Andina.

According to César Saavedra, member of the Banking Law Committee of Asbanc, the commission of membership of credit plastics is charged on the grounds that it grants benefits such as VIP lounges at airports, special insurance, among others.

"The fact that the client does not make use of the benefits that he has at his disposal (by having a plastic credit) does not mean that the service is not effectively provided because these benefits can be triggered when the client wishes," he explained.

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How to use the credit card correctly?

When you do not have a pre-established order for any daily activity, the result is sometimes only bad times, especially if it is related to a debt. Therefore, Sandra Yparraguire, representative of Kobranzas SAC indicates some recommendations to buy responsibly and without affecting our credit.



1. Make a purchase list

Planning in advance is a very important step at the beginning of any activity to be developed. Therefore it is advisable to create a listing, this way you can draw a budget suitable for your economic possibilities.

2. Review the balance of your accounts



Through an ATM, web portal or specialized applications to check your account statement should check your available balance. Then you can set your budget. However, you should consider that if your goal is to save expenses should be controlled or in other cases discarded.


3.To determine the number of quotas

When buying always give you the option of being able to split the expenses made in installments, in some cases people prefer to pay small installments in several months, however, this, in the long run, would be very expensive. On the other hand, if it is convenient if the expense is small and with little interest.

4. Avoid frauds

Being cautious is essential when acquiring a new product and more if these are on offer, in many cases advertising can be misleading and what you want to avoid is a problem in the future. To avoid these situations it is advisable to pay in cash and not with cards.

5. Avoid using all cards

It is advisable that for each expense designate a different card, on the other hand, if necessary, prolong its use, because later on when you see your receipt the amounts will be exorbitant. Do not spend to spend.

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How can I get and maintain a good credit score?

To get and keep a good credit score, start by paying your bills on time.
There is no secret formula for creating a robust credit score, but there are guidelines that can help you:

Pay your bills on time, all the time. One way to make sure your payments arrive on time is to set up automatic payments or set up electronic reminders. Also, try to pay more than the minimum amount if you can. If you have not made payments, catch up and stay current.
Do not approach the credit limit. Credit score models look at how close you are to "reaching the maximum," so try to keep your balances low in proportion to your total credit limit. Experts advise to keep the use of credit to no more than 30 percent of your total credit limit. It is not necessary to have cards with revolving credit to obtain a good score. Paying the balance every month is what helps you get the best scores.
A long credit history will help you with your score. Credit scores are based on experience over time. The more experience you have with getting credit and paying your bills on time, the more information you will have to determine if you can be given good credit.
Just ask for the credit you need. Credit scores look at your recent credit activity as an indicator of your credit need. If you apply for too much credit in a short period of time, it may seem to the lenders that your economic circumstances have changed negatively.
Check your credit report regularly. If you detect suspicious errors, impure them. If you have old credit card accounts that you are not using, be aware to make sure that an identity thief is not using them.
ADVICE

If you are new to credit issues, consider getting a product designed to help you establish and create credit. Financial institutions have developed a number of products and services, such as secured credit cards and loans to generate credit, designed to help new consumers establish and create credit.

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Advantages and disadvantages of having a credit card

A credit card can be a practical and simple way to have the money always on hand, as it can turn into a nightmare. It all depends on how you handle them. Here are some advantages and disadvantages of having a credit card:

Advantage

Its use has been extended in the purchases by Internet. It is becoming more common for people to buy and make payments online with this medium. You can make reservations for hotels, purchase airline tickets, among others.
You run less risk when carrying a credit card than carrying cash. It is extremely dangerous to walk with cash.
If you need to withdraw money or make an urgent purchase, your card will always be available. Having one can be a great help in case of emergencies.

Disadvantages

You run the risk of not being able to control your expenses. Having the card always at hand can lead you to take on too much debt. A self-control is essential to avoid inconveniences.
If you lose or steal your credit card you will have some problems. In this situation it is necessary that you make the corresponding complaint. Remember that buying a card for your card can avoid future problems.
Some commissions for different operations may be too high. Think twice before performing additional operations.

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The Obstacles and Benefits of Using Credit Cards

Instead of simply using credit cards routinely for your purchases and services, it is wise to be aware of some of the advantages and disadvantages of this method of payment.

The Obstacles

When you use credit cards or "plastic", you are tempted to buy with nonexistent money in your bank account.
When you use "plastic, you borrow money from a creditor, who wants your money back with MANY interests.
Many interests mean MUCH EXTRA MONEY FOR YOU THAT DOES NOT HAVE (Admit it, that does not make sense).
Consider the following: If you owe $ 10,000 on your credit card with an 18% interest rate, and you pay the monthly minimum (usually 2% of the outstanding balance, in this case, $ 200), it will take 57 years and 1/2 to pay off your entire debt, and you will pay a total of $ 38,930.64 interest!
Using "plastic" today, when you do not have money, means spending the money you will win tomorrow, even before you win before you have the time to enjoy it. Which implies that when you receive your salary, you can not keep it.
If you use "plastic" today, when you do not have money, and for some unexpected reason you do not have money tomorrow, you put yourself at risk of not being able to pay your creditor. When this happens, your credit history is negatively impacted for several years.
If your credit history is impoverished, your quality of life will be affected. Future goals of getting a mortgage, a loan for a car, even medical coverage, can be difficult or impossible to get.
Some people who are in a serious state of debt with their credit card, open more and more credit card accounts, waiting to stay afloat by paying the minimum outstanding balances on several cards and making cash advances to pay their other accounts. What they do not understand is that instead of being a solution, they are simply debts that add to the spiral and their finances are increasingly out of control.

 The benefits

"Plastic" can be used for the purchase of goods and services that you need at the moment but can not pay at this time, such as short-term emergencies.
"El Plástico" may be more convenient than cash on certain occasions, such as car rental, hotel reservations, travel tickets, etc.
Some creditors give you benefits, like insurance when renting a car, miles, discounts, etc. that are granted when you use your card.
If you want to make a modification in a purchase made with a card, the Fair Credit Collection Act allows you to withdraw payment for goods and services with which you have not been satisfied.
If your credit card is lost or stolen, you are only vulnerable at $ 50.
Using a card is the most convenient method of payment whether physically, online or over the phone.
The sensitive and cautious use of credit cards is the best way to help you establish good credit.

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7 Ways to Increase Your Credit Score Quickly

Your credit score will determine whether you will get approval for credit cards, car loans, mortgages or other loans, as well as affect the interest rate you will pay. If you are not satisfied with your credit score today, do not worry: there are some simple ways to improve it quickly. Once your credit score improves, you can enjoy benefits like lower interest rates and insurance.

Keep in mind that while these tips will help you increase your credit score quickly, be patient and remember that it may still take 30-60 days to see any noticeable improvement.

Ratio of credit utilization.

Your credit utilization ratio represents 30% of your credit score. It is the number that shows how much debt you have compared to your total available credit. The more unused credit you have available, the lower your ratio.

For example, if the credit limit on all your cards is $ 10,000, but you owe $ 8,000, your credit utilization rate is 80%. You're using 80% of your credit.

That is quite high - a ratio of 30% or less is ideal. There are three main ways to reduce your rate of credit utilization.

1. Pay your Debt.

Using the above scenario, if you can pay your debt from $ 8,000 to $ 5,000, then your ratio is reduced to 50%. Once you lower your debt, your score will see a significant momentum quickly.

2. Request an Increase in Credit Limit.

If you are not able to come up with some money to pay off your debt quickly, try to get your credit card issuer to raise your limit.

If instead of having $ 10,000 in available credit, you have $ 15,000, your ratio would drop to 53% with a debt of $ 8,000.

Keep in mind, however, that you will usually only grant this if you have had a good record with them during the past year. If you have not received payments, you may not be able to get the raise.

Credit history.

The length of your credit history represents 15% of your score. If your score is low because you are new to credit then you will just have to be patient. But you can accumulate your credit by opening accounts now and keeping them in good condition in the future.

raise your credit score4. Keep the cards open.

You should not close any existing accounts, as each continues to contribute to your credit history. In fact, many people have the mistaken belief that closing credit card accounts will help their credit score when it is likely to have the opposite effect. The longer you have your accounts, the more you add your score. Even if you no longer use your old credit cards, you can cut or block the cards, but do not delete them.

5. Become an Authorized User.

If you have trouble getting approved for new accounts, see if you can become an authorized user on someone else's card. But be sure to sign up with someone who is a responsible user. Your score can drop dramatically if that person loses payments or has too much debt on that card, too.

Types of Credit.

The types of credit in use also represents 10% of your credit score. These formulas favor those who have various types of loans, including mortgage loans, auto loans, student loans, credit cards and store credit cards.

6. Mix your forms of credit.

While you should not borrow money for a house or car just to try to improve your score, it is worth bearing in mind that even opening a store credit card and using it for some small purchases can help improve your credit score slightly.

You may also consider opening a specialized card as a branded gas card (which only works for gas station payments). This will help you resist the urge to spend on other things and you accumulate rewards in no time like free gas.

Pay the balance immediately after each use and your credit score will reflect your good credit history, payment history and credit increase available.

Payment history.

Your payment history is the highest percentage of your score - 35%. You should not avoid the importance of paying your bills on time.

7. Configure alerts and automatic payment.

Sometimes the payments are lost simply because the invoice was forgotten or lost. These little mistakes add up to your credit score. If you have trouble remembering to pay your bills, set up automatic payments or create reminder reminders on your calendar. There are no excuses!

Credit Tracking.

To maintain a good score, you must be diligent about supervising your credit, too. Check your credit report every year at AnnualCreditReport.com or MyFico to make sure there are no errors. If you notice a discrepancy, act quickly.

Your credit score may be unjustifiably low and you may simply have to make a call to correct any problems. In fact, studies have shown that up to 80% of consumer credit reports have an error, which may be costing up to 50 credit points.

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The Closing of Accounts and your Credit Rating

It is much easier to maintain a healthy credit when you keep the prime objective in mind. Know five smart strategies to cancel an account without harming your credit rating or score and look at five behaviors that should be avoided.

The form correct
When you are considering proceeding with the cancellation of an account it is advisable to start with the inactive accounts that you no longer use. You could be paying unnecessary commissions for accounts that can attract identity thieves. Also, it is advisable to cancel first those with high annual commissions.
Before canceling an account, check Your Credit History online (www.transunion.com.do) to verify the condition of the accounts and help your credit score or score. Look for overdue payments, high balances, or other indicators of identity theft. Verifying Your Credit History can save you research time by providing the grantor's contact information.
Cancellation of accounts with high balances could help your score. To achieve this you can ask the credit grantor to close the account for new charges while you are paying the balance each month. This can be a good way to prevent people who spend heavily on their credit cards from incurring new expenses while trying to reduce their balances, but pending hidden commissions.
Set up a card for regular use and try to pay the entire balance each month as you cancel accounts to improve your score. Reserve the other cards only for emergencies, thus avoiding the temptation to overspend.

The wrong way
You do not cancel the oldest account in Your Credit History as you cancel accounts to help improve your score. This could shorten your credit history and, therefore, damage your rating.
Do not dump old cards, waiting for accounts to be automatically canceled. When you cancel accounts to improve your score, the safest way is to communicate your decision to the customer service department of the credit company.
If you decide to cancel accounts to try to improve your score, you should not feel pressured to cancel multiple accounts at the same time. If you are not sure about the effect on your score or the amount of indebtedness you need to have, the best plan is to gradually pay and cancel the bills. If you wish to cancel multiple credit accounts, you cancellations to reduce the possibility of raising suspicions of potential creditors.
Avoid placing all your balances on a single card as you cancel accounts to help improve your score. If your credit balances rise above 35% of the available limits, this could negatively affect your score.
Monitor Your Credit History for updates and inconsistencies once you have canceled accounts to help improve your score. It waits 30 to 60 days for the credit grantor to report the account closure and TuCréditoSM for TransUnion updates its records. While the accounts and payment history remain in Your Credit History for 7 years, these must be marked "canceled."

The above advice and recommendations are simple suggestions, which may or may not be useful to you; each consumer must carefully evaluate their personal financial situation before making decisions that could affect their financial and / or credit situation. Before making a major credit or financial decision we recommend you seek professional advice. TransUnion is not responsible for the consequences that could result for each user to follow the recommendations noted above.

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Concerns with Your Credit History and Credit Discrepancies

Do not allow irregularities to divert you from your path to sound credit. Watch for incidents that could derail your rating or indicate that an identity thief has access to your information. Look at the most common and what you can do about it:

Information Unknown-Credit discrepancies such as the appearance of an account or unauthorized changes of address may indicate that a thief is using your identity. If you find a credit discrepancy with an account that you do not remember opening, alert the lender. If it proves to be an identity theft, close the account and see the Identity Theft section for the steps to follow.
Top Credit Cards- High credit card balances could indicate problems with your credit profile and substantially reduce your credit rating or score. Keeping balances below 35% of your credit limits can greatly reduce the interest you are charged.
Payment Delay-If you can not afford to pay on time, ask the lender to change the payment term to a different date in the month or sign up for electronic payment with a reminder before the deadline date.
Identity error - With more than 9 million inhabitants in the Dominican Republic, problems related to identity errors are inevitable. It is much more frequent to find the credit data of another person in Your Credit History with common or shared surnames such as "José Pérez, hijo." If you find something that does not belong in Your Credit History, communicate that problem to TuCréditoSM so that your information is corrected.

The above advice and recommendations are simple suggestions, which may or may not be useful to you; each consumer must carefully evaluate their personal financial situation before making decisions that could affect their financial and / or credit situation. Before making a major credit or financial decision we recommend you seek professional advice. TransUnion is not responsible for the consequences that could result for each user to follow the recommendations noted above.

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Basics of Credit Stories

TuCréditoSM by TransUnion works for you to have control of your credit experience. Here's how the system works with the following example:

When you apply for a new credit card, the granting entity requests a copy of Your Credit History-that is, your credit profile-to TuCrédito. This causes your "Credit History" to record an "inquiry". The granting entity uses Your Credit History and scores or scores along with other information such as income and claims to determine what fees to offer.

When you use your new credit card, the lender reports your activities to TuCrédito (and similar entities) approximately every 30 days.

We update your Credit History as we receive new information from credit grantors or loans. Your Credit History is changing according to your financial activities. The next time you apply for a credit card or loan, the process will be repeated.

Your Credit History-Your Credit History is divided into three main sections: consumer identification information (name, address, date of birth), account payment history, and inquiries. When you open a new account, you make or skip a payment or you move, these sections are updated with the new information.

Correcting inaccuracies-Your Credit facilitates the process of correcting inaccuracies. You can make claims on the accounts you need in Your Credit History.

As provided by Law 172-13, on the Protection of Personal Data, you have the right to rectify, modify and cancel the information that refers to you registered in the databases that may be illegal, inaccurate, erroneous or expires

How to work with the system-A good management of your credit and maintaining a good credit history can result in better rates on important purchases. Our recommendation is to review Your Credit History frequently, at least every three months before making major purchases, to protect yourself from harmful inaccuracies and identity theft. The Alerts service allows you to stay informed and have online access to Your Credit History. Routine checks, payment of your bills on time, keeping your credit card balances below 35% of your limits and correcting any negative inaccuracies, will help you maintain a healthy credit profile.

The above advice and recommendations are simple suggestions, which may or may not be useful to you; each consumer must carefully evaluate their personal financial situation before making decisions that could affect their financial and / or credit situation. Before making a major credit or financial decision we recommend you seek professional advice. TransUnion is not responsible for the consequences that could result for each user to follow the recommendations noted above.

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Credit score is a way in which financial institutions can determine the probability that you show you have to pay your debts. It begins to register from the moment in which they grant him some financial product that implies a credit like a credit card or a loan.

FP recommends you read "How to start your credit life".

And even if you start to have this "clean" registry, without debts or delays in payments, it seems to have a single formula that consists of paying on time, is not the only thing.

As for payments

Lilian Simbaqueta, president of Lisim Group, points out that beyond being punctual with payments is learning to know when to use a credit or a card: "The terms must be consistent with what I am buying, so a purchase of an item of daily consumption, does not have to defer to more than a quota, even, nor should it be bought with credit. "

Simbaqueta suggests that only large purchases should be deferred over long periods and, with this, begins to build a credit history.

But another related issue is "the delay" or the time in which you delay in paying a debt. "Although it is understandable that it happens that for X or Y reason could not pay and has a delay of 30 days, beyond this time can generate a negative report."

This, inasmuch as while you can make the payment later, the records of your payment habits can be very accurate and this gives clues to financial institutions to deny you or provide you with a credit.

Other important factors

• Updated information

Jorge Saza, a financial specialist, recommends that besides being "good pay" it is very important to have your personal information updated with the entity with which you are linked, "because sometimes people want to" get lost ", but this is not convenient because gives a negative signal to banks ".

Failure to give coherent or true reports to banks, even, can close the doors completely.

• Create history

Both experts agree that it is important to start having credit experience because the system begins to see its good behavior and can make it easier to grant credit.

• Know and manage your history

As a right, every person should know and know what happens to their credit history. For that, you can make the inquiry or request with the relevant risk centers and be aware of the registration that the entities with which you have debts, are making the respective report. Saza suggests doing this exercise at least 2 times a year.

Learn how to check your history online.

• Small debts generate large damages

The financial specialist points out that debts, however small, are debts and must have them present and pay them off on time. Sometimes, if you forget them, this remains in your report and in the future may be a reason for being denied a credit, regardless of the amount.

Learn how to clear your credit history.

• Take care of peace and salvation

Lilian Simbaqueta reminds us that it is very important to always leave a debt totally settled and for that it may be very important to have the documents that certify it: the peace and safe.

• The one who saves can always have credit

A last and perhaps also very important factor is to keep money saved in your bank accounts or have some savings product. This shows that you are a responsible person with your finances and know the importance of having a money saved.

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