HOW TO INCREASE YOUR CREDIT RATING -LOWER LOAN RATE .

HOW TO INCREASE YOUR CREDIT RATING - HOW TO LOWER YOUR LOAN RATE

HOW TO INCREASE YOUR CREDIT RATING -LOWER  LOAN RATE . 

Why is credit management important ? 



Credit is like an ID for financial transactions. This is because financial companies are most likely to focus on credit before they engage with consumers.



Financial companies use credit to determine the availability of loans, interest rates on loans, and limits on loans. So credit is very important.

CLASSIFICATION AND CHARACTERISTICS OF PERSONAL CREDIT RATING

Personal credit ratings range from 1 to 1000, with 1 to 10 grades based on 1000 points.
1 ~ 3 grades are high-end users (since they have steadily committed credit transactions, they can receive favourable interest rates or limitations in future financial transactions).

4 ~ 6 grades are available for credit users (such as college students, seniors, (The person who
has delayed the loan or has left behind the tax or has negative information)

Rating	division	Characteristic .
1-2	Peak	Has various and positive credit history
3-4	rainfall	Continuously steadily enter the upper grade when the superior transaction continues
5-6	Normal	Short-term delinquency experience with customers who have a deal with a low-end company
7-8	caution	Experienced short-term delinquency with many customers who deal with low-end companies
9-10	danger	Delayed delinquency or very serious delinquency experience

HOW TO INCREASE YOUR CREDIT RATING - HOW TO LOWER YOUR LOAN RATE

Public fees such as communication charges, national pension, and health insurance premiums are submitted to a credit check company for more than six months, and credit score points are awarded. The longer the period, the greater the range of points.


This is because of the new filers, and the non-financial transaction information can not be collected by the CB company itself, so it can be reflected on the homepage of the financial company or by fax or mail.


You can get a loan if you receive a loan through a small-scale financial program such as Smile Finance, Sunshine Lane, or Saehan Young Hole, and you can get a 50% repayment of the principal or a loyal repayment of more than one year.


 There are no documents to be submitted directly by the consumer, and each CB company may have different credit rating models.


If you pay back more than one year after receiving your student loan, you can get a maximum of 45 points. In this case, there are no documents to be submitted by the consumer like the public finance program.


You can increase your credit rating simply by steadily reimbursing your student loans.
Loan delinquency is the biggest negative factor among the credit rating model evaluation items.


CB will usually reflect overdue information if you overdue more than 100,000 won over five business days.

Once you are overdue, you may not be able to overdue because you may fall to the low end. Even if you are overdue, it is important to repay as soon as possible.



You can raise your credit rating even if you only use your check card.


You can get a maximum of 40 points even if you spend more than 300,000 won in good faith over 6 months.





thanks for the time .