Sometimes, instead of a detailed credit history, it is useful to check the credit score. This is an approximate score that shows the probability of approval of the application for a loan. Credit score, unlike credit history, is more visual - you can always determine whether your application will be approved or rejected.
However, it is difficult to calculate this score by yourself – you need to know the status of the main parameters of the borrower and the requirements of different credit institutions. In addition to credit history, the score is influenced by many other parameters. Among them the level of income and type of employment of the borrower, the status of documents, criminal record and other parameters that draw the attention of banks and microfinance organizations. If you are officially employed, receive a high salary, have no criminal records and repay all debts without delay, then your score will be quite high.
Please note that the score may deteriorate if you check it too often.
On the Internet, many different services offer borrowers to find out the credit score. However, such services are not always convenient.
- First, most of them are paid
- Second, they may give inaccurate or incorrect scores
- Third, among such organizations, sometimes some scammers can steal your money and personal data.
There are also many services that collect the most complete information about the borrower on all bases and calculate the score taking into account the requirements of all popular credit institutions. Their specialists are responsible for the security of all important information about the borrower.
As a rule, these services take all the costs necessary for their calculation on themselves. To find out your credit score, just leave a request on their website. Within a few hours, experts will learn information about you, and calculate the score. After that, you will receive your score and a detailed report on it. They can also pick up offers for you about loans and credit cards, which you will be able to get with your score level.