Are you looking for loans without a credit bureau or loans with a credit bureau?

Both institutions are Credit Information Societies of Mexico (SIC), which obtain data from banks or financial institutions. With this data, they carry out a history that collects the credit information of the person, moral or physical.

Many people get to confuse both entities because both are important for financial institutions to know how people behave in financial matters when collecting and managing their information. However, there are some differences. For example, while the Credit Bureau preserves the credit history of taxpayers or individuals, the Good Credit integrates the credit history of both individuals and companies.

Credit bureau

Credit bureau

The Credit Bureau is a private entity that preserves the credit history of taxpayers or individuals. That means that since you apply for a loan, your credit history begins to register. The Credit Bureau is not exactly a database of people who have not paid their debt, but one where all your movements related to your credit cards, phone plans, departmental cards, consumer loans, mortgages, automotive are registered, among others.

The record includes the arrears in the payments of the obligations that you have had, considering that the financial institutions collect and send your data every month.

Looking for loans without a credit bureau or loans with a credit bureau?

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The Credit Bureau conducts an analysis of your credit situation and the results of that analysis allow lending institutions to know crucial data about those individuals interested in obtaining a loan. We recommend you check your credit history periodically so that you know what your score is. By law, you have the right to make an application every year and it is completely free. Just go to the Credit Bureau page.

Good Credit

Good Credit

The Good Credit, on the other hand, is the institution that carries out integration of the credit history of both people and companies. This company is regulated by the Law to Regulate Credit Information Companies. The Good Credit has some similarities with the Credit Bureau, however, the Good Credit includes natural and legal persons. In the reports of the Good Credit you can also find personal information and about the financial behavior of a person or company. This institution also performs an analysis that makes it very clear if the applicant for a loan is high, medium or low risk.

This analysis is carried out considering different factors, such as the information in the Credit Bureau, the personal information that they have collected in the forms, among others. We reiterate that if you have a negative report in any of these entities, due to the non-payment of a debt, for example, that means that you probably have difficulty getting financing. However, there are online lending institutions that you can go to, even if you are reported to the Credit Bureau.

Remember that it is important to be clear about your status or your score in both the Credit Bureau and the Good Credit. Just as there are negative reports, if your financial behavior is responsible and appropriate, then that will be reflected in the records of these Credit Information Companies. A good reputation in these entities is equivalent to greater confidence on the part of financial entities, which will allow you to access larger loans, which will allow you to dream big.

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