Today, more than 90% of Russian families at least once took a payday loan or loan to get out of a difficult financial situation or make a major purchase. In order to afford a car or a new apartment, you will most likely need to get a payday loan. To do this on the best conditions you need to have a positive CI. And if you have far from the highest score, you can take a payday loan to improve your credit history.
Any microloan company sends all data relating to open loan agreements. All movements of the borrower are noted in a special report and quite often, sometimes more often than in a bank, are sent to a credit history bureau. Therefore, you must carefully monitor your financial situation and in no case do not make delinquencies. It’s simple: if you take a small amount, but do not make payments under the contract on time, your score decreases, and if you take a large amount and close the loan on time, your score will be higher.
Where to get a payday loan to improve your credit history?
Today, many MFIs can lure customers to take out loans to improve their credit history, and this is a truly sought-after service in our time. But you always need to be alert, especially when it comes to signing a payday loan agreement. Before contacting the organization, check the company in various ways. Ask your friends, maybe they have already worked with the company, read reviews and make sure that the organization is on the list of officially registered MFIs on the Bank of Russia website. If a company is on the list and is a member of one of the official SROs (self-regulatory organizations), then it can be trusted and with this organization try to improve the credit score.
One of the most effective tools for improving CI is taking a small payday loan.
Often, the borrower does not even use the money taken and he has already prepared the amount to be added to close the contract. But keep in mind, if you plan to repay such a payday loan ahead of time – this may not work. And the point is not that the credit organization will not send such data to the CII, but the fact that such actions may not affect the credit score. And if the bureau finds such systematic manipulations, then altogether, you may underestimate the score.
Improve your credit history
Therefore, take a payday loan to improve your credit history correctly. Assess your capabilities, the company in which you plan to take a microloan and carefully plan all payments and closure of the contract. Then do not hesitate to ask the company when the data will be sent and after what time you can see the result.