That a financial institution such as Coopealianza grants you a loan means that the institution trusts that you have the conditions to assume and respond to that commitment.
It's like when we were in college and we "borrowed" money from our parents; Although they were our parents, they gave us a sign of trust by giving us the money with the agreement that we would pay it at a certain time. Possibly they would lend us the money if they saw that we were responsible students, that we worked hard and did not spend on nonsense. That is, we earned their support with our behavior.
The financial system operates similarly, but with legal papers involved. Banks and cooperatives lend money to not just anyone, because their business lies precisely in helping people achieve their goals, but with the certainty that they will repay the credit under the agreed conditions.
For this reason, today we are going to talk about how we can "improve the score" in that evaluation that financial entities make us to demonstrate that we are good credit subjects.
Recommendations to be a better subject of credit
Pay your debts.
The best way to be a good credit subject is to meet the economic commitments you already have and pay all debts in a timely manner, including, for example, in the appliance store where you bought the new refrigerator. It also includes timely payment of credit card and utilities.
Your behavior with previous credits, even if they were small, affects your "reputation" before the financial system. Having a clean and respectable history will help you in case you need a bigger credit.
In case of arrears, contact your financial institution.
Sometimes we have complications in family or work life that could make it difficult to pay the installment on the established date. In these cases, it is best to go to your financial institution and talk to an agent (hopefully one who knows your case and has dealt with you before), and explain your situation with complete transparency.
It is possible that, honestly speaking, a payment agreement can be reached or some of the loan conditions changed.
Use your credit card responsibly.
La credit card It is not free money, it is a kind of loan that can get us out of trouble and even give us extra benefits such as miles for travel and discounts in stores. But paying on time is a great way to start building a good credit history and set a precedent for your debt behavior.
Consolidate the debts if it is already difficult for you to meet so many payments.
Over-indebtedness is an evil of the modern age. Sometimes, we are a little careless and end up taking on a lot of credits, with different banks and cooperatives. Keeping track of payment dates and the conditions of several credits at the same time can cause unnecessary stress and health problems.
For this reason, at Coopealianza we recommend evaluating a debt consolidation, so that you can have a single credit, with a single installment and payment date, which is easier to manage and, possibly, with better conditions.
Make a monthly budget (and stick to it).
To be a good credit subject, it is important to have your finances in order. We cannot meet our financial commitments if we do not earn more than we spend.
It is essential to make a monthly budget where it is contemplated as a minimum: the person's real income, fixed expenses (such as public services, food, house rent and payment of loans).
By being clear about how much and how we spend each month, we can understand how we relate to money and how healthy our personal finances are.
Finally, if you are thinking of applying for a loan, but you do not know how much is best for you or how you can obtain the best conditions, Contact us. At Coopealianza we will love to serve you in a personalized way.