Central Bank data state that, in 2019, there were a total of 123 million credit cards and 132 million active debit cards in the country. Undoubtedly, the card is one of the main credit resources used throughout the country and a real facilitator of consumption when money is lacking in the wallet. Obviously, with the growing adherence to digital accounts, new cards are issued every day and new limits are approved for Brazilians.
But although a large part of the population has easy access to the credit card, not everyone gets their application approved. And, at that time, doubts arise about how the credit approval analysis is actually carried out in Brazil.
What is credit analysis?
In a simplified way, credit analysis is a procedure performed by all financial institutions, with the objective of assessing whether the applicant for the card, loan or financing will be able to pay for the use of the requested credit resource.
It is worth noting, however, that although this analysis is carried out by all institutions, they use their own methods and factors for evaluating and granting the request. But some criteria can be considered universal among the reasons for refusal.
What are the universal criteria for credit card refusal?
1. Incomplete or incompatible data
When requesting a credit card or other type of credit, it is essential to ensure that all data reported is correct, especially those related to income.
Upon request, the bank will review all information provided by the customer and, if found, diverging or incompatibility in the data may refuse the request. In addition, it is worth reinforcing the importance of the truth, as well as the sending of requested vouchers and photos.
2. Registration with SPC or Serasa
According to data from the SPC, out of the 58.9 million denatured, about 40% have a dirty name in the credit protection agencies. In view of this reality, most financial institutions refuse to grant credit and credit cards to this public, after all, there is already an indication that this group will not be able to return to the institution the amount requested on loan or released as a card limit.
It is important to note, however, that some card models do not consider the analysis of the SPC or Serasa, as in the case of consigned cards; but there are other factors involved in releasing the financial resource.
3. Low score on credit score
The credit score is one of the country’s official measures to measure how good a citizen is a good payer. The system, widely available on the internet, measures the payment history and generates a rule from zero to 1,000 points.
Thus, the closer to 1,000 the better the score and the lower the risk of default. It is worth remembering, however, that the credit score score is gradually achieved, that is, if the debts were settled recently, it is important to monitor the evolution of the score over the following weeks.
Given its importance in the release of cards, credit and financing, it is recommended to register in one of the score birs to monitor the score and the factors that compose it.
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