How can you increase creditworthiness and improve the credit report score?

Then you should possibly increase your credit rating and improve the credit report score beforehand. We’ll show you how and with what simple means you can improve your credit rating!

The credit report score is a value that describes the creditworthiness or the creditworthiness. The creditworthiness and the credit report score therefore play a decisive role in all applications where a credit risk is taken. This is the case, for example, when concluding a new electricity, gas or internet contract, renting an apartment or applying for a loan.

If you have a bad credit report score or a bad credit rating, this means that the probability of repayment is less than with a good credit rating. If the creditworthiness is poor, in extreme cases it may be that a contract is rejected or that higher conditions have to be paid to compensate for the risk of default.

Improve the credit rating and the credit report score …

Check your personal data at the credit bureaus. The creditworthiness is calculated based on personal data, payment experience, negative characteristics such as collection and court data as well as insolvency proceedings. However, credit bureaus don’t work flawlessly either. Over a third of the credit information is incorrect, outdated or incomplete. Even if you have always paid your invoices on time, it may still be that incorrect data has crept into the credit report or characteristics that have been completed have not been deleted. In extreme cases, this can unfairly affect creditworthiness. In order to counteract this, we recommend that you regularly check the data for accuracy and also obtain credit report information.

Instead of making credit inquiries, insist on condition requests

When you apply for a loan from a credit institution, banks first check the creditworthiness. For this purpose, these banks contact a credit agency, such as credit report. This credit check from banks is called either “credit request” or “condition request”.

However, there is a serious difference between these two terms. A credit request does not affect the credit rating, but is recorded in the credit rating for 12 months. If several credit inquiries are noted in the creditworthiness, this can give the impression that one has applied for several loans and was rejected for all. The bank could now conclude that you are not trustworthy. A condition request, however, is neutral.