Surely you have heard among your friends or seen on social networks that the Credit Bureau is a kind of blacklist where banks and companies place customers who are behind in their payments or who never settled their debts. It is also very likely that you have known stories of people who magically left the Credit Bureau and achieved a “blur and new account” to request a credit card.
First, it is false that you can leave the Credit Bureau overnight . If you have been offered a secret method to achieve it or that you have to pay to clear your credit history, it is probably a fraud that will cause you a bad time and the loss of your money.
In simple terms, the Credit Bureau is a company that collects information that, by law, they use from banks to telephone companies to know the payment behavior of users.
Virtually anyone who has contracted a loan in his life is in the Bureau and if he has been a good client , it will have the benefit that the bank offers him other loans in better conditions , with which he will be able to access financial products with money limits increasingly wide. Otherwise, if a customer has fallen behind or even stopped paying their debts, it is very likely that any bank or company will deny the hiring of new services.
Failed or approved in the Credit Bureau?
Keep in mind that being in the Credit Bureau is not a bad thing or that it hurts you to apply for credit. In a simple comparison, it is somewhat similar to school grades, where satisfied clients have passing grades and those who are late in a payment or stopped paying will have failing grades.
The only way to improve your record in the Credit Bureau is that the times are fulfilled by law so that the information of a requested credit is eliminated from your database and that you had delays in your payment.
Take into account the deadlines in which the Credit Bureau deletes the information in the history, according to the General Rules of the bank, we have to:
- Loans for up to 157 pesos are eliminated after one year.
- Loans for up to 3 thousand 552 pesos are eliminated after two years.
- In the case of credits for up to 6,330 pesos, they are eliminated after 4 years.
- The credits that exceed this last amount, you must wait 6 years to be removed from the Credit Bureau, but with several reservations:
- They must not exceed 2 million 500 thousand pesos.
- They should not be found in judicial process.
- It does not apply in case the bank or company has detected that you committed some type of fraud.
- In addition, credit records of more than 2 million 500 thousand pesos are not removed from the Credit Bureau.
It must be taken into account that the amounts mentioned take the price of the Investment Units or Udis as a basis, so we must constantly review the quotation that appears on banxico.org.mx to have the updated information. Regarding the time of the account, it must be counted from the last date on which it was reported as past due or since its last update.
Pay your debts and improve your credit history
An important point that you should consider that if at any time you fell behind in a payment of your card or some other credit but you get up to date, it will be reflected in your history as a sign that you are fulfilling your debts and will make you have a good credit history
In the end, you should consider that if you are a good payer of your debts, this will favor your history and when you want a new card or with a higher credit limit you will not have much difficulty in being approved. In case you have any problem in paying your cards , a credit repair company is an option to liquidate and have a good track record.
Leaving or being deleted from the Credit Bureau would be negative if you request a card or some other financial product. Technically you would not exist for the bank or company to whom you request the service since you would not have a history and consequently, they would not know how fulfilled you are to settle your debts.