Creditworthiness is something the bank looks at when you apply for a loan. They do this to assess your ability to repay. In this we find out what credit rating means, how it affects you and what you can do to keep it as high as possible!

What is credit rating?

When you apply for a loan, the bank wants to be able to measure your ability to repay. A credit report is then made on you, which gives a rating in the form of a credit rating, a kind of measure of your ability to repay. If you have a safe and stable economy, you also have a greater chance of being able to repay borrowed money to the bank, which gives you a high credit rating.

How do I find out my credit rating?

You can do a credit report and get an overview of, real money pokies online is among other things, your existing loans and credits, which credit inquiries have been made on you and which credit rating you have. The information itself does not affect your credit rating, but only gives you a good overview of your credit rating so that you can see how your personal finances and ability to pay are.

How does it affect me?

The bank’s credit assessment of you affects how much money you can borrow and what interest you get on your loan. The more secure your finances are, the lower the interest rate the bank will be able to offer you. Therefore, it is important that your credit rating is as high as possible when you apply for a loan.

Can I improve it?

To some extent, you can influence of high roller casino and raise your credit rating yourself, especially when you have control over your credit rating. In this way, it becomes clear what you need to do to possibly improve it and thus have a better economy and a greater chance of getting loan applications and credit card applications approved.

Tips to raise your credit rating – and increase the chances of a lower interest rate

Do a credit report on yourself

Review the status of your current credit score and make sure it is current and accurate – and use it as a basis for possible improvements!

Terminate unused credits and cards

Maybe you have an old credit card somewhere that is not being used? End this! Although it does not cost money as long as the credit is not used, you have a registered credit limit that appears in credit information and lowers your credit rating.

Always pay your invoices on time

If you do not pay invoices before the due date, you risk receiving a payment notice – something that lenders and banks see as an increased risk and can therefore result in a lower credit rating. Serious lenders do not grant loans at all to people with payment complaints.

Collect your loans

Should it be the case that you have several smaller loans and credits, one option is to consolidate these into one larger loan. You therefore take out a new, larger loan to repay your old loans. Since you then only have one loan, the bank can review the terms and offer a better interest rate.

When you want to apply for a personal loan, you can either turn to a comparison site or to a bank. Two different ways that means different benefits. If you use a comparison site, only one credit report is taken, which is good for your credit rating. If you instead go directly through a bank and borrow money, you can get an interest rate discount, a personal bank contact and change the term of the loan at any time – so you can pay back at a rate that suits you.