A good credit score is important when applying for loans, financing and other services offered by banking companies, as they analyze the scores to determine the solvency before approving or not approving citizens’ applications. However, it is possible for people to check their payment history and reports in credit bureaus to know their credit situation and make decisions to improve it.
Step by step
These are the steps you must follow if you want to check your history and score at Datacredito Colombia:
- Go to the company’s official website: Midatacredito.com
- Select the “Enter” option.
- Fill in the fields with your document type and document number, then click Next.
- If your ID is not registered in Midatacrédito, a message will appear at the top of the page asking you to enter additional information to complete the registration.
- Fill in the fields with your name, email address and mobile number, then set your password
- Select the “Free Credit Check” option
- Enter your ID number and password
- Click “Send”
After requesting the information, the company will send a copy of the credit history to the email address provided within the next 10 business days. Once you have received the information, carefully check whether the data matches yours. If you find any errors, it is important that you report them to the Company so that they can be corrected.
Credit risk score in Datacrédito
The credit risk score is measured between 150 and 950 points, with 450 being the average in Colombia. The higher the value, the better access to credit and financing on better terms, as the risk of default is lower.
These are the notes:
- Value above 746: Very low risk
- Value between 646 and 745: Low risk
- Value between 476 and 645: Moderate risk
- Value between 421 and 475: Medium risk
- Value between 386 and 420: Medium risk
- Value between 341 and 385: Medium risk
- Value between 301 and 340: Medium risk
- Value between 261 and 300: High risk
- Value between 150 and 260: Very high risk.
It is also possible to consult this information through a request to the company, which must be presented in person at one of Datacrédito’s customer service offices.
What happens if you have a “bad” rating on Datacrédito?
A low score can make it more difficult to get a loan, the interest rates on loans are higher and in general this limits the person’s ability to access various financial opportunities.
