Improve credit record Score and save money! credit record information in Germany is one of the most important key factors when it comes to applying for a loan.
Together with your income, the credit record Score decides the amount of interest that you pay back to the lender along with the repayment rates.
It is therefore important to have a correspondingly high credit record score. Financer.com shows you how you can improve your credit record Score and thus reduce the interest costs for your loan.
We have already covered the most important points about credit record in our article Everything you need to know about credit record. Today we focus more on the points with which you can improve your credit record Score.
What data does credit record collect about you?
To improve your credit record score, you first need to know what data is collected about you. credit record is Germany’s most recognized credit agency. It collects all data that are closely related to payments on target.
The goal is to protect lenders from default and, on the other hand, to protect borrowers from over-indebtedness.
This data is collected by credit record:
- Personal data: name, birthday and address
- Information about your bank accounts and credit cards
- Mobile phone contracts
- Loan agreements
- Installment payments
- Guarantees and late payments
credit record does not collect any other important information such as job, income, assets, purchasing behavior, nationality, memberships or marital status. The following points help to improve your credit record Score.
The most important thing at credit record is that you properly meet your obligations.
Those who do not pay in time can receive a negative entry at credit record.
Before your payment behavior at credit record can be recorded negatively, you must receive at least two reminders at two-week intervals. Those who avoid payment defaults automatically improve their credit record Score.
Avoid multiple checking accounts
Many banks lure their customers with free account management or start credit. You open several accounts, but hardly use them.
On the one hand, it takes a certain amount of time to open a current account, on the other hand it has a negative effect on your credit record Score. Avoid inactive current accounts and improve your credit record Score!
Cancel credit cards that you are not using
Credit cards naturally have a number of advantages, especially if you are traveling a lot without credit cards. Find one or two credit cards that meet your needs and cancel unnecessary cards that you don’t need anyway. That also increases your credit record score.
In the event of late payment, contact your bank
If it comes to the point that you cannot make the payments on time, contact the bank and ask for financial support. You can use it to settle your liability without receiving a negative credit record entry. Rapid communication with the lender can therefore improve your credit record Score.
Consolidate your loans
A single loan has a better effect on your credit record Score than several small loans. In addition, with a debt rescheduling, you can settle the old expensive loan with a new, cheaper loan. They keep a better overview, pay less interest and improve your credit record Score.
Please ask for the neutral condition request
When you are comparing loan terms from different loan providers, it is important that the lender sends a credit record-neutral condition request to credit record. This has no effect on your credit record Score.
If you have chosen a lender, he will send a credit request to credit record. If several credit inquiries are submitted to credit record, this can have a negative impact on your credit record Score.
In the Financer.com credit comparison you will only find providers who make a credit-neutral credit request in the offer phase. However, it is best to check with the provider again to make sure that he has not changed the conditions.
Check your credit record information regularly
Once a year you have the opportunity to find out about your credit record Score free of charge. Take advantage of it and find out whether there is a need for optimization. How to secure a good basis for negotiating the next loan application when it comes to negotiating loan terms and interest.
Regular self-disclosure can therefore improve your credit record Score.
Delete wrongly entered information
Even if this is not so common, it can happen that certain entries at credit record are not entirely true and worsen your credit record score.
If information has been entered incorrectly, you can write to credit record to request that it be deleted.
It is best to enclose all documents that support your request to delete entries – paid bills, account statements etc. and thus improve your credit record Score.
Avoid changing your place of residence frequently
If you change your place of residence more than average, this is interpreted negatively by credit record. Even if moving home is sometimes unavoidable, you should keep this information in mind. It can also happen that you get a credit record score of 2% by moving. This means that your data has not yet been synchronized.
Improve credit record Score now
Your credit record Score is always calculated based on the data from the past three months. All the actions you take now will only appear in the next quarter.
The exact calculation procedure is part of the business secret of the credit agency and is not publicly known. However, our tips will help you to improve your creditworthiness and get cheaper loan terms. Also keep in mind that income represents another important factor in lending. This is not included in the credit record Score.
Improve your credit record Score. Find the loan you want with the help of our loan comparison and fulfill your financing request today.
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