Are you thinking about taking out a loan to finance a new TV, car or apartment? Are you worried if the bank will give you a loan? There are several ways to check your credit standing yourself. What can you do? Start by checking your credit history at Retro!
Creditworthiness – what is it?
In short, creditworthiness is the ability for the borrower to repay the loan taken out with interest at the agreed time. It depends on your creditworthiness how high your cash, mortgage, car loan, and even your credit card limit or overdraft limit will be.
Banks usually contact the Credit Information Bureau for information on credit history. But you can do it too!
The Credit Information Bureau is an institution created by banks on the initiative of the Polish Bank Association. It collects all information about citizens’ claims that is made available to banks and lending institutions.
Credit history in Retro – what is that?
Your credit history is a picture of all your financial obligations. It is most reliable, because information to Retro is provided directly by banks and credit unions. It can be positive, negative or you may not have it at all if you have never used installment, credit or credit card purchases. Importantly, lack of ability can be a serious obstacle to taking a loan because the bank has no reason to trust you.
Retro report – how much does it cost?
You can download the Retro report individually or as a package. Prices for a particular range of services are as follows:
- single report – 39 PLN
- 12 reports package – 99 PLN
How to check the history in Retro? Three steps
Checking your history in Retro is very easy. You will do it quickly in three steps.
- Registration. Go to the Retro website and register on the site. Provide your personal data, email address and accept the regulations and required consents.
- Proof of identity. Confirm your identity by sending an ID card scan.
- Making a payment and generating a report. Choose the range of services and pay the specified amount. The report will be generated immediately after payment.
Retro database – what information will I find?
The Credit Information Bureau stores all information regarding the customer’s credit history, provided by banks and Cooperative Savings and Credit Unions (so-called SKOKs). Therefore, the Retro contains information not only about your currently and regularly repaid loans, but also about overdue liabilities.
The report should be ordered for several reasons. First of all, you will learn how your ability to present Retro to potential lenders. Secondly, if any incorrect data was found there, you can contact the appropriate bank or credit unions to send information about it to the Credit Information Bureau. Thirdly, if your ID is lost, you will find out if anyone has used your details to take the loan. To do this, activate the Retro alert service. You will receive an SMS notification with each attempt.
Good credit history – rules
What determines a good credit history? First of all, from the timely repayment of all your obligations. I present the most important rules thanks to which you will ensure a good credit history.
Control your credit history.
Regularly checking your Retro is the only way to detect any irregularities. You can check all your current debts in it, check whether the banks have removed your previous, repaid debts and whether there are any suspicious loan agreements on your account (e.g. whether someone has not used your personal data).
Do you want to have your credit history under control? Activate the Retro alert service.
Don’t take too many loans at once.
If your account has too many loans taken out at one time, the bank will not like it. If you pay many installments, think about converting them into one, smaller, namely look for a consolidation loan. Applying for more loans to cover the repayment of previous loans threatens to trap the debt spiral, from which it will certainly not be easy to get out.
Pay your debts on time.
Did you forget to pay the last installment for the loan? Or maybe you don’t have enough funds to cover it? No matter what is the reason for not making the payment on time, everything will be recorded on your account in Retro. Your scoring will fall just as much as the chance to get another bank financing.
In case of problems with repayment, ask the bank for help.
If you can’t deal with paying off your debt, don’t hide it, but go to the bank where you have the loan. Together with the adviser, you will look for the best way to solve your financial problems. By not paying off installments, you will not only earn yourself extra debt (interest on unpaid installments), but you will also become an unreliable customer for the bank and in the future you will not be able to get a loan or credit.
Build your credit history.
It is worth building your credit history as soon as possible. The way to do this is to take any device or other purchases in installments, which you will pay regularly and on time (in stores you can meet 0% installments for which you will not pay anything!), Use a free quick loan (provided that you pay your debt in prescribed period) or reasonable use of a credit card (interest-free period).
So it’s worth spending thirty pairs to get to know your credit situation. Then it will be easier for you to fall asleep knowing that your credit chances are real.