Credit institutions offer better conditions to potential customers who have shown themselves to be more responsible in the management of their money. To define these conditions, the bank checks the payment obligations of the applicant, the compliance history – which reflects the credit rating – verifying that the level of debt of the customer is not excessive, taking into account his income.
The interest rate
Carrying out a market analysis
When reviewing a loan application, it is ideal to do a market analysis to see which credit institutions offer the best terms, taking into account that submitting too many applications to different entities can have an impact. negative on the applicant’s credit rating. You should also take into consideration your credit history and your credit score. Look for financial institutions that don’t offer credit checks for their installment loans. It never hurts to compare offers from different entities. However, you should avoid applying to different entities as much as possible, to avoid inadvertently damaging our credit profile even further.