The operation of improving the credit score takes time and some financial costs. So you need to try to pay payments on the issued loans on time. If a citizen still spoiled a credit score, one should turn to legal ways to restore it and get a loan from If your credit score is looking low, the Bright app can help. Bright Credit Builder offers an easy credit boost and does it all automatically.

Credit Score Is in Good Hands

The information stored about citizens is reliably protected. No one, even employees of these organizations, can delete the credit score of citizens. Removing negative information from the credit score is possible if the bank has transferred incorrect information about its customer to the BCH. Another case is an error occurred due to a failure in the data storage system.

Apart from this, a citizen can become a victim of fraudsters who using one’s passport have issued one or more loans. If the fact of fraud is officially established, reliable financial institutions will restore the citizen’s credit score.

Why Can Credit Score Be Spoiled?

The main reason for the deterioration of the credit history is the violation of the terms of the loan agreement by the borrower. Even if a citizen took loans many times and repaid them without delays, and when repaying one of the last 3-4 loans allowed at least one untimely monthly payment, a credit score will be poor.

Banks and MFOs send all information to the BCH, both on the impeccable fulfillment of the terms of the loan agreement, and information on the facts of delays in payments. A loan paid without a delay improves the credit score, but at least one delay in debt repayment worsens it.

Ways to Improve Your Credit Score

Refinancing and Credit Restructuring

Refinancing or restructuring is the signing of an agreement with a bank that buys out the debt from another organization. Bank offers the customer new conditions. It usually decreases the monthly payment and increases loan maturity. This action helps a customer to avoid delinquencies and maintain a good credit score. Many banks are ready to help pay off the debt to citizens even if they were delinquent on the loan and already have a bad history. Signing a loan refinancing or restructuring agreement and repaying it on time improves your credit history.

Special Programs

Some banks have programs that help customers to improve their solvency and improve their credit score. A citizen is issued a small loan which must be repaid without delay. Information about stable debt repayment is sent to the BCH. Therefore, a customer’s credit history improves. In addition, citizens have a good opportunity to get a large loan from a bank where they received assistance in improving their credit history. In this way, a customer demonstrates reliability to the company.

Bank Deposit

A bank deposit is a very good way to increase trust from financial institutions. Even if a citizen has made a deposit in one bank, and wants to get a loan in another, he can provide a document on an open deposit as confirmation of his solvency. A credit score does not improve upon opening a deposit since this is not a loan product. The trust in a citizen on the part of financial institutions increases.

Applying to the Court

A citizen can go to court to a financial organization if it refuses to provide confirmation that previously existing loans have been closed. You also need to go to court if fraudsters have issued a loan to a citizen using a passport, but there is no substantial evidence that the bank would accept.

Debt Repayment

Closing all available loans is the first thing borrowers need to do when they want to fix their credit history. First, existing debts are paid, then new contracts are drawn up and lending conditions are strictly observed. Only such an action plan will improve the COI.

Credit Card

Commercial financial institutions issue credit cards to citizens without checking their credit scores. To receive a card, you need to submit an application in which you indicate your personal data and place of work. The credit card limit will depend on the owner’s salary. The active use of plastic without delays in mandatory payments will increase the credit limit, as well as correct credit history. You need to use the card for 2-3 months, then the data in the BCH will be updated.

Products By Installments

Most home appliance and electronics stores allow you to purchase goods in installments. Citizens with a bad credit score can easily buy goods worth several thousand dollars. When buying by installments, a citizen enters into an agreement with the bank that approved the loan. Thus, information about a borrower goes to the BCH. As a result, credit history improves if the citizen pays the debt on time.

Consumer Credit

Some banks are ready to issue a consumer loan to a citizen without checking a credit history. However, the interest rate will be increased. A good option is to apply for a loan to a bank on whose card the citizen receives a salary. Financial companies make concessions for salary customers because they can track the receipt of funds from the employer to a citizen’s account. Thereby such companies analyze the solvency of each customer.