Sometimes it can be difficult to keep up with all high-profile banking terms. When is a credit report made? Can anyone do such a thing and how does it affect me as a private person if I want to take out a loan, subscribe or enter into credit agreements? What does it mean that lenders dislike too many credit reports in a short period of time? In this article we will guide you to everything you need to know about credit information.
What is Credit Information?
The purpose of a credit report is to map the finances of the person applying for a loan – simply explained, it can be said that it is a resume for your personal finances.
It is ordered by the lender but is performed by one of the credit information companies, where the Goodnote Credit and Servewell Credit Services are some of the largest players.
The lender obviously wants to minimize the risk of loan losses – that is, they do not get back the money they lent. In order to be able to make such a decision, credit information is an important part of the overall assessment.
If the applicant has a fixed income and previously handled his payments, it is safer for the lender to lend money to that person than to a person who has payment notes or no fixed income.
Different types of credit information
For private individuals, there are two different types of information – micro information and personal information. Just as the name implies, a micro information is not as comprehensive as a personal information.
When do you make a credit report?
Many people associate credit reporting primarily with different types of credit loans, but there are a lot of other occasions when a credit report may become relevant.
An information can also be made in conjunction with signing a subscription, obtaining a credit card or signing a lease. The company that orders a credit report on you has an obligation to inform that they will make a statement on you, so that you as a consumer can choose to approve it or not. If you choose to decline the credit information, it may mean that you are not granted the credit card or cannot unsubscribe.
If the credit report has no legitimate reason
Anyone has no right to make a credit report on you without having a so-called legitimate reason. A legitimate reason is if someone should enter into a credit agreement with you or have a reason to make a risk assessment on you. For example, a risk assessment may be relevant if you are to gain a higher position at work or enter a service that involves financial responsibility.
Can you do a credit report on yourself?
Maybe you wonder about your own credit rating after reading this far? In fact, you as a private person can make a credit report on yourself if you are curious. Through my Unsecured credit you can find out your score for 29 SEK. The results are ordered via their website and are available for two days.
Some common credit reporting companies:
Credit information via Goodnote Credit
Goodnote Credit is the credit reporting company that we at RiseUs Finance use. Goodnote Credit has information on all Swedes who are over fifteen years old. A request is registered to you for twelve months before it is removed.
Credit information in Clearhand Credit
If you are one of the two million Swedes who use the digital mailbox to receive your government mail, you may have at some time received a notification that a credit report has been made. By logging into Clearhand Credit you can immediately see which company it is. If you do not log in, nothing will happen – the information will be sent home by mail to your registered book address as well.
A common misunderstanding is that it is Clearhand Credit who does the credit information, but that is not true. Clearhand Credit is only a mailbox where the information from the credit information companies ends up.
Quick loans without credit information – is it okay?
SecureMoney Credit is, like all other operators that lend money, obliged to make a weighted credit assessment of the applicant’s finances before a loan is granted. It is possible to take out a loan without Unsecured credit, however, a credit report is always made on the applicant but then through another company, as in our case Goodnote Credit.