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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.