Inside the credit note

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One of the main benefits of the new Positive Registry is the strengthening of the credit rating in the Brazilian market. The idea is simple, and the benefits are undeniable. In the same way that we develop a professional CV throughout our lives, the credit rating is equivalent to the financial CV that consumers and companies build up over time. Each time we pay our credit card bill, pay off a loan installment, take out a loan or pay a bill for ongoing services such as water, electricity, gas and telecommunications, new information is taken into account when calculating our credit score.

If the consumer or company has carried out these operations within the timeframe agreed with the creditor, it will increase or strengthen the credit score with positive information. The credit score ranges from zero to one thousand. The closer it is to one thousand, the greater the borrower's ability to pay.

The credit score is calculated by the four bureaus authorized by the Central Bank to act as managers of the bank's database. Positive data (Boa Vista SCPC, Quod, Serasa and SPC Brasil). And it's important to know that the credit score varies from one bureau to another, as each uses its own evaluation criteria to form the score. Therefore, before attempting a credit operation, each person or company should research which bureau has the highest score.

The recommendation is to monitor the credit score at each bureau and, if in doubt about it or the differences between the scores, ask for details or explanations so that the borrower can take action to improve it. This is one of the proposals of the note: to empower the borrower so that they can hire credit with ease and better conditions. To view the credit score, simply visit the websites listed at the end of this article.

Until the new Cadastro Positivo came into force, the only data available in the credit bureaus' databases was negative information - information on arrears and outstanding debts. The entry of data from the Positive Register is taking place gradually. When all sources of information, such as financial institutions, suppliers of ongoing services and retailers, have entered their positive information into the database, this information will gain weight in the credit score, promoting the necessary balance between negative and positive information.

The success of Positive data is directly related to the borrower's understanding of its benefits. The credit score is the key to this understanding, as it is the instrument that empowers the borrower to obtain better credit conditions.

A recent survey carried out by the credit bureau sector in Brazil showed that borrowers are aware of the importance of their credit score. Almost 90% of those surveyed said that their credit score can help them access credit, and 94% said they believed that the Cadastro Positivo promotes an increase in credit scores.