A credit profile is conditioned by two aspects. On the one hand, your income and on the other hand, your credit history . These two things are what will determine whether a financial institution or bank considers that your profile is suitable to obtain a loan with them.
Income
We understand by demonstration of verifiable income those incomes of money that a person receives monthly that can be evidenced. Depending on the type of receipt you have, you will be able to access some financial products or others.
Some of these demonstrable income are:
- Work in a dependency relationship with a salary receipt
- Receive a retirement or pension
- Be monotributista or self-employed
Credit History
It is a report that contains all the data about the financial products you have requested, generally in the last 5 years. This includes all loans, credit cards, etc.
Financial entities study your previous payment behavior with other entities to see how reliable your credit profile is and make decisions based on this data.
Variables such as late payments on your cards, the number of financial products you have up to date or how long you have had them; They are the ones that serve to determine whether or not you are eligible to be granted a loan. These points will also define the amount they grant you and the installment terms.
The better your payment behavior has been in the past, the better rates and products you will be able to access.
