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Also if you a have a debt repayment
case against an individual you can then check his
credit records but after a written permission from the
court. Also the method of credit rating is different
in different countries. Some of the common things that
are considered while giving a credit rating include
Payment
record the more the number of bills
that has been paid overdue the lesser would be your
credit rating.
Debt control
if you have debts which is more than half the taxable
income of the month than it is considered for negative
credit rating.
Stable professional life
people having a respectable profession with several
years of stable professional life are considered for
higher credit rating.
Re-writing credit history
Through re-aging, a credit history is re-written and
you are given a fresh start on that particular
account. This can dramatically improve the credit
score
Credit inquiries
An inquiry is a notation on a credit history file.
There are several kinds of notations that may or may
not have an adverse effect on the credit score.
Total
credit cards total number of credit
cards used by the person also has a detrimental effect
on the rating scale as it is considered not a good
practice by banks and other financial institutes.
Credit records are now available on the internet.
These records are available to you on the payment of a
small nominal fees. However you need to obtain the
legal right to obtain this information as most of
these records come under the purview of privacy laws. |
