Applying for a loan involves getting acquainted with the offer of banking services and submitting a loan application, which will then be considered by authorized persons. A bank loan, which takes place when a large amount of cash is needed, is usually associated with the need to present the bank with its existing liabilities, which may have a direct impact on obtaining the loan. The consumer submitting the loan application must be aware of the need to check the creditworthiness and credit history in the BIK database. The Credit Information Bureau, based on the previous credit history, will prepare an opinion that includes the repayment history, including the number of loans and timely payment. All data collected in the BIK will become elements of the opinion expressing the creditworthiness of the person submitting the application. The assessment of creditworthiness does not coincide with the concept of creditworthiness, which is, one can say, the resultant creditworthiness and repayment history. How does this kind of information contribute to getting a loan? Is there a difference that makes a difference when applying for a bank loan or payday loan at a financial institution? Do loans without BIK always mean creditworthiness that no one verifies?
Does creditworthiness affect creditworthiness?
Creditworthiness, which is BIK’s opinion on the consumer, recognizing the credit history is to a large extent taken into account when considering the loan application. Whether or not previous commitments were repaid on time is a great indicator of the chances of another loan. If there were many positive repayments, the chances for another loan increase. New loans, however, are new liabilities. The number of applications submitted to banks in a short period of time significantly affects 5% of BIK’s credibility assessment, which is submitted by the bank for creditworthiness assessment. So the impact is, however, with a total of 631 points for the rating, a five percent value is unlikely to have a significant impact on the ability rating. The most important criteria are education, occupational position, age, number of credits already possessed and credit history. For the bank considering the loan, the number of applications submitted by the consumer to the competition is of little importance. The number of applications submitted at various banks may rather affect the creditworthiness, which is assessed by BIK. The Credit Information Bureau has data on both the number of applications submitted by consumers, the number of loans received and rejected applications, as well as repayment timeliness. The creditworthiness assessment is made by the bank, and the sum of many guidelines needed to obtain a positive credit decision takes into account a number of factors. Credit credibility is therefore placed on creditworthiness, but it is scored very poorly, so it practically does not pose a threat of rejecting the application. The number of credit applications submitted at various banks is not significant when issuing a positive credit decision.
Many applications and payday loans
Ranking of payday loans tempts with attractive offers of cheap loans that can be obtained on simple terms, often loans without BIK. What does this mean in practice? Since applications for temporary loans are not checked by employees of the Credit Information Bureau, how to assess credibility and creditworthiness? New loans offer favorable repayment terms, but they are appropriate when the amount you need is not very high. It is best to take a mortgage at a bank, payday loans will be much less useful. Persons interested in the loan offer without BIK may submit any number of applications, but it is worth paying attention to the fact that the sum of payday loans does not exceed their repayment capacity. The bank’s creditworthiness is determined on the basis of strict conditions, however, if it is positively assessed, you can realistically think about the timely repayment of liabilities without sacrifices and stress. Many applications in the case of payday loans do not reduce creditworthiness, but are verified in the bank. Unless it directly affects the possibility of receiving a loan due to the low percentage for the whole assessment, when the fate of the loan will weigh, it may tip the scales to this unfavorable side. When applying for a loan, it is worth considering the financial services offer carefully and choosing convenient options. It is best to submit loan applications at the banks that offer the best loan terms. If there is a situation where the creditworthiness barely falls within the expected loan sum, then you may want to consider applying for a lower sum to be sure of a positive credit decision and safe repayment? The number of applications for credit does not guarantee a positive decision if the creditworthiness does not imply granting the expected loan. If there is no creditworthiness, the only option is new loans that do not require credit history verification.