the Unauthenticated key and how it hurts you

When you go to a financial institution and you request a loan, it must approve its issuance, or reject it for various reasons. This is because Business want to have as clients the best applicants for each of their financial products, looking for them to be trustworthy people when it comes to extending a loan and that they have the means to take charge of the debt no problem.

Thus, when a bank rejects your credit application, in addition to closing access to that financing it can make it more difficult for others to authorize later. That is why it is important that when we request a product we have the characteristics of a good candidate to ensure that we obtain it; in case it is declined, it is better to find out what happened.

When you request financing from any bank or financial institution, from a personal loan to a credit card, they ask for your authorization to consult your Credit bureau. This procedure is harmless and it even benefits you that if the institution sees that you can over-indebted will cancel or lower the amount of the credit to avoid that risk.

But another thing that usually happens is that the data of the person requesting the loan is not even located in the database of the Credit Bureau, which is said Not authenticated in the Bureau.

Why am I not authenticated in the Credit Bureau?

This is not properly a problem, but it is impractical when you want to access financing and companies do not have the information to approve it. The reasons usually include that there is an error in the identification data of a user of financial services, which does not locate you, and not because you do not have a credit history as indicated.

We recommend WhatsApp, so you can make your Christmas stickers for chats

If when filling out a credit application you provided your card number but do not add the previous ones that you have handled, the same as the departmental cards or omit the final 4 digits of the credit card. If any of these data fails, the consultation in the Bureau will not give the expected results

How is it solved?

As this situation that all inquiries in the Credit Bureau will be unauthenticated, banks will have reasons to deny you a loan, so you will have to work on keeping your credit history in order or start building it if you don’t have it yet.

We suggest you read Christmas shopping season: 4 tips to avoid falling into debt

Each person has the right to be allowed a free consultation every 12 months to be aware of your history, reviewing possible inconsistencies and reporting when necessary.

In addition, learn to calmly fill in the data of the credit forms in the future, so that with the most legible handwriting there are no doubts or errors when capturing your credit information.

Remember that the history of your Credit Bureau is your cover letter with financial companies who do not know you, so keeping it in good condition can open the doors to more credits, with better amounts and rates of interest preferential for your quality of good payer.

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


Source link

Leave a Reply

Your email address will not be published.

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker