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Factors That Affect Your Credit Score


Giant is a new startup company in Indonesia which is one of the faces of financial-based startups, or better known as fintec. The giant wants to make it easier for Indonesian society at large to participate in the modernization of the digital-based financial world. Like the ease of applying for credit or credit cards. Because only in Giants you can get a credit score that can increase your plus value as a financial service customer.

 

Credit scores can be used throughout the debtor’s loan cycle

Credit scores can be used throughout the debtor

from the initial stage, the account management stage, to the collection stage. Every time a prospective lender looks for your credit report in response to a new loan application, the application is placed in your document. Having too many requests shows the lender that you are trying to take on more loans and therefore increases your digital credit exposure.
Factors that influence your credit score:

1. Utilization Patterns

Refers to the amount of credit owed / used on accounts by individuals

 

2. Latest Credit

2. Latest Credit

Creditors can assume that you are overloading yourself if you have a new credit facility in the near future. Consumers are encouraged to apply for credit so that your new credit score can be moderated.

3. Arrears Data

The existence of arrears on your credit account will reduce your credit score.

4. Credit Account History

Consumers with credit history, for example, you have a car loan that is long considered a more attractive or more trusted borrower when compared to individuals who have limited credit history. An account with a timely payment history will help improve your credit rating. Account payment performance in 12 months (including bad and closed accounts) displayed in the account status history on your credit report will be used for score calculation.

 

5. Available Credit

Number of accounts available (open or active) for credit.

 

6. Application Activities

5. Available Credit

Refers to the number of new requests contained on your credit report. Every time a potential lender looks for your credit score report in response to a new loan application, the application is placed in your document. Having too many requests shows the lender that you are trying to take out more loans and therefore increase your credit exposure.

Immediately download the Giant application on the Play Store so that you feel the ease of digital financial transactions and you are no longer trapped by fictitious transactions that are increasingly rife as a mode of banking fraud in Indonesia.

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