Why does the CV key appear in the credit bureau history

When you consult your record at Credit bureau you will find some keys that appear in your Report from Special Credit, especially when your behavior when paying your debts has not been regular, and sometimes the key CV in any of the concepts. This acronym means Bill Overdue and refers to financing that, as a customer, you stopped being up to date and the financial institution wave company that extended the credit to you sells that portfolio to an external institution due to problems with your payments.

As you know, Buró de Crédito is an institution that is in charge of collecting information on financing in which the financial obligations of clients and their behavior when fulfilling these commitments, being individuals or legal entities.



The management of your finances with credit products is recorded in the records that this entity manages and that are consulted by the credit institutions to decide if a possible client is a candidate to be approved for a loan and how much the interest rate will be. based on the keys that appear in your history, according to the Credit Information Society (SIC).

These acronyms, which are known as prevention or observation keys, indicate the information that is of interest to financial companies to determine whether to extend a credit and the CV key is particularly one of the most feared by the mark it leaves on your record.

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Finding the concept of Overdue Portfolio in the records of a credit user will make the company or institution analyze the possibility of approving your credit application, but it does not mean that it will automatically deny your credit applications.

What will happen instead is that if you are approved for a new one, higher interest rates will be applied that will make the credit more expensive to compensate for the risk that this CV key indicates that giving you the loan due to your background as a debtor entails.

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Therefore, a history with these brands affects you in future credits, due to the poor rating you have for those you have handled in the past. That is the reason why it is important that you be disciplined and fully comply with the terms in which a loan was originally agreed, since if you respect them and are a fulfilled debtor, the situation will be completely different and the doors will be opened to greater financial products with better benefits as lower rates.

Pass more information on this and other topics, visit the section of My Pocket Credits.

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