Credit bureaus, where did they come from, when they help?

Since the beginning of the existence of banking institutions or cooperative savings and credit unions, these institutions have been conducting lending activities. Accumulation of funds of their clients allowed to invest the same funds in loans for other companies or clients.

Credit bureaus

Why, at some point, new participants, namely credit bureaus, appeared in this simple relationship? Wasn’t it simpler when the client went to the bank and arranged his own credit matters?

Of course, this arrangement seems simpler. Nowadays, however, the system is not as simple as it used to be when there were several larger banks on the market.

Currently, there are several dozen banks, smaller or larger. How to choose the best, cheapest or simply the one that agrees to credit us from such quantity? What if the customer in his bank hears that he is not able to grant credit to the person concerned?

Credit bureaus charge the client’s dependence on the bank.

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The advent of credit bureaus has changed the market. Thanks to their considerable knowledge, the customer finally has the opportunity to compare the offers of banks and take advantage of the cheapest. The conversation with the adviser looks completely different than in GFIC.

The client is not treated as a petitioner at the office but as a partner. The consultant learns the client’s needs and the situation in detail and presents the client’s credit options based on the information obtained.

There is no more atmosphere of a crowded bank branch where everyone looks at the customer badly. Clients make an appointment at a convenient time that suits them, sit in a quiet office of an advisor or broker with a cup of coffee and thanks to this they can freely talk about everything.

Credit bureau and corporate loans.

Credit brokers also address their offer to business activities. Choosing a bank is even more important here. Most companies are not perfect, they have selected problems such as loss of income, too low income, unregulated taxes, etc. It is good to know then which bank will address the entrepreneur’s problems.

It is worth noting that in the bank we will not always meet a professional company advisor. Some employees are dedicated to all products, such as loans for individuals and companies. However, it is good to apply for a company loan and talk to a professional loan advisor with extensive experience in cooperation with companies.

Credit bureaus like Good Finance employ professional company advisors who have a sense of the industry. Such employees most often finished banking, finance or accounting, and have an internship in one or two Polish banks. Such experience pays off perfectly and ensures high credit granting to its clients.

Professional credit bureaus do not make unnecessary credit inquiries.

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Another advantage of using a credit bureau is to avoid unnecessary credit inquiries. Any inquiry in any bank or non-banking institution aggravates the customer’s situation. When a customer asks for credit within a few days in 3-4 different banks, it turns out that he is refused on subsequent inquiries. Banks don’t like customers who go from one branch to another. Immediately the proverbial red lamp lights up and they look more suspiciously at the customer.

Credit bureaus approach things differently. Their role is to get to know the customer well enough that one inquiry at the bank will end in granting a loan. There is no comparison of offers and generating queries in every possible bank. Thanks to the knowledge of bank offers, this can be done without an official inquiry in most of them.

It is, of course, wise to choose the office we will use. Unfortunately, there are many advisors on the Polish market who repeatedly break the rule, making the client a lot of inquiries, in effect preventing him from getting a loan. At Good Finance, thanks to the developed analysis department, it is not possible for a client to have more than 2 queries made by advisers.