Red Flag #1: Borrower's Credit Score Below 600
Posted: Sun Jan 19, 2025 10:55 am
Before deciding on issuing funds, the investor first looks at the credit history (CH) of the potential debtor and his rating. Since 2022, the credit rating is calculated on a scale from 1 to 999 points and is divided into 4 groups depending on the likelihood of loan approval.
How to increase your chances of getting a loan
Before submitting an application, check your credit history and rating through the Credit History Bureau (CBI). To do this, you need to send a request to the Central Catalog of Credit Histories (CCCH) and find thailand telegram database out which CBI stores your credit history.
Then you need to register with the Bureau and order credit reports - from them you will learn all the information about closed and active loans issued to an individual or legal entity.
If the rating is below 600 points, try to improve the CI. This can be done in 3 ways:
Get a credit card, use it as often as possible for 3-4 months and pay off the debt on time.
Buy something in installments and pay off the debt before the final deadline. For example, it could be household appliances or education. It doesn’t matter what you take out an installment plan for — the main thing is timely payments. It’s better to make several purchases within six months so that your credit history is more reliable.
In addition to the situation with a bad credit rating, the risk of refusal also arises for a borrower with no credit history at all. Therefore, to increase the likelihood of approval of financing, it is better to create a CI - just get a credit card, use it for 4-5 months and repay the debt on time.
How to increase your chances of getting a loan
Before submitting an application, check your credit history and rating through the Credit History Bureau (CBI). To do this, you need to send a request to the Central Catalog of Credit Histories (CCCH) and find thailand telegram database out which CBI stores your credit history.
Then you need to register with the Bureau and order credit reports - from them you will learn all the information about closed and active loans issued to an individual or legal entity.
If the rating is below 600 points, try to improve the CI. This can be done in 3 ways:
Get a credit card, use it as often as possible for 3-4 months and pay off the debt on time.
Buy something in installments and pay off the debt before the final deadline. For example, it could be household appliances or education. It doesn’t matter what you take out an installment plan for — the main thing is timely payments. It’s better to make several purchases within six months so that your credit history is more reliable.
In addition to the situation with a bad credit rating, the risk of refusal also arises for a borrower with no credit history at all. Therefore, to increase the likelihood of approval of financing, it is better to create a CI - just get a credit card, use it for 4-5 months and repay the debt on time.