In this article, we will try to answer 4 main titles for those who say that my credit rating is 0, which is one of the curious points about the credit rating. The biggest problem of individuals who want to benefit from loan products such as consumer loans or housing loans is that they get negative answers from banks.
Although the reason for the rejection response from the banks indicates different situations, the loan sought in general is the credit rating. If the person’s credit score does not affect the bank’s necessary conditions to give credit, that is, the point system, credit is not offered.
What is a Credit Rating
A credit score is a concept created by the Credit Registration Bureau, and we frequently receive questions today. While the credit score is formed, all your transactions with the banks are examined and your grade is formed accordingly.
Your previous debts, payment habits, bill payments, credit cards you used, etc. are the reasons that increase your credit rating or decrease it in reverse proportion. You can do the credit note learning process from the official website. You can browse this section for 8 platforms where you can learn your credit note instantly for free and for a fee.
What are the reasons for the credit rating being zero?
The low credit rating is among the reasons for the credit to be rejected. Another reason is that your credit rating has not been formed yet. In this case, your credit ratings are evaluated as 0 and the situations where the credit score does not occur are:
- If you have not established any dialogue with the banks until the day you applied,
- If you have never used a credit card,
- If you have never had a loan.
In such a situation, when you want to benefit from one of the loan products such as housing loan or consumer loan, you can get negative answers because your credit rating is zero.
Is it an advantage or a disadvantage?
As a matter of fact, we can say that this is a little disadvantageous for those who say my credit rating is 0. Because the reason for this is that the banks do not have any information about your payment order, your debt amount, etc., as they cannot determine your risk level in this context, their reservations about credit allocation.
Therefore, the persons with a credit rating of 0 are taking a low limit credit card to fix this situation firstly at the banks and at KKB, making their daily shopping from this card and then paying these debts regularly. Within 3-4 months, the person’s credit score will be at a detectable level. On the other hand, my credit rating 0 problems will disappear in the loan applications of the person.
In Which Cases Is The Credit Rating Zero And What Transactions Are Enabled?
If your credit rating is zero and you want to take a loan, you can take low-limit credit cards or open KMB accounts to create your credit rating first. By spending regularly with your low limit credit card and paying your debt completely every month, your credit rating starts to form gradually. In general, this is the case, and you can treat your credit rating to zero.
If you pay your debts without interruption and use less than half of your credit limit, you can get a quality credit rating. But it is useful to underline. If you make your payments irregularly, that is, if you misuse your credit card, your credit ratings will start to drop simultaneously. You can request a low limit credit card from your salary bank when your credit rating is zero. They generally give a positive answer.
Another method you can use to create a credit note is deposit accounts. We recommend that you make all your expenses on this account by opening a salary account from any bank. By providing regular money in and out of this account, you can make your credit rating go up.
How People With Zero Credit Ratings Can Get Credit
If you show collateral to the bank, you can withdraw credit.
Banks offer loans in general, by showing a guarantee for loan usage.
Document if your income is high, but if it is low, you can apply for a low amount of credit simultaneously.
Banks that give credit to 0
In fact, although your credit rating is zero, it is possible to get credit from almost any bank. Therefore, there is no need to make a distinction called this bank. However, keep in mind that banks will examine your credit application at this point in more detail, as your credit rating is 0. In addition, we can say that your income status will be considered more in this sense.