How to check and improve your credit score

A credit rating is a relative value from 0 to 7 points that characterizes a person's financial capacity, mainly formed at the expense of your credit history.

This rating is a dynamic indicator that changes depending on specific circumstances and your financial activity. It reflects the statistical probability of successful completion of credit teething by a non-starter in the future, and the more you score, the better.

Also, credit history and credit rating are different concepts, although they are related. If you watch English-language YouTube about financial topics, I'm pretty sure you've seen many videos on improving your credit score.
The credit score in the States is the same as our credit rating, but in the States, the maximum value in the rating is 850 points, and in ours, it is 700.
The credit history application is the easiest way to check your credit rating.

And it will also be without commission. In Ukraine, the credit rating has a maximum value of 700 points and is divided into five statuses. The average indicator for Ukraine as of the beginning of 2024 is 411 points. You must have at most three active credit products to increase your credit rating in Ukraine.

Therefore, do not apply for credit unnecessarily, and your rating will then increase. If you use credit cards, you use your limit, which is no more than 40% of the limit, and the rating will increase.

Also, the amount of debt you have on the payment date has a great influence. Banks prepare reports for the payment date and sell this data to credit bureaus. Therefore, if, for example, you paid with a credit card on January 1st and used up your limit in full, and you have a two-month grace period for repayment, then on January 31st, your credit rating will drop significantly.

After all, most banks will set the last day of the month as the payment date, and such a report sent by the bank to the bureau credit history will contain information that you have exhausted your limit. Still, there was no payment in the current month, which will significantly lower your rating.

Five ways to check your credit history and find out your credit rating for free

Any Ukrainian can check their credit history. Data about each loan, credit card, is stored in the credit history for 10 years from the moment the loan is repaid. It's worth noting that you can only request a free credit report once a year, regardless of which method you use.

Each subsequent drop now costs 50 hryvnias. You can check whether you have credit in several ways, thanks to the database of the credit history bureau. So, we can check our credit history in the following ways.

With the help of mail, through a mobile application, on the official website of the bureau, with the help of PROVA24, as well as in credit history chatbots in Viber and Telegram.

The next way is through the mobile application. The Bureau has developed a special credit history mobile application, thanks to which you can easily check your creditworthiness. To do this, for installation and credit history application - enter your phone number and date of birth, see the code that will come to your number.

Select the item credit history and then click get. The next method is the website of the bureau itself. To do this, you need to go to the link that you see on the screen, press the "Welcome" button, authorize with the help of a phone number or with the help of an action, find the section for private individuals, choose a category of credit history there and order a history.

By the way, with regard to the action, in the action you will receive a notification when a loan is issued for you. whether these other changes will occur to your credit history. To check that this function is enabled for you, you need to go to the message in the action, then click the icon on the app and turn on the check against your credit history.

The next method is using the PRVAD-24 application. To do this, go to the "Choose a credit rating", "Choose a credit history", "Click to get" button in the service menu. The history will be uploaded to your bureau's archive site.

Also, on VAD-24, you can order an assessment of your credit rating for 50 hryvnias. And the last way is through chatbots of credit bureaus. The Ukrainian Bureau of Credit History has developed special chatbots in Viber and Telegram, thanks to which you can quickly find out whether you have credit.

To check this, go to the chatbot, press start, tap start, enter your phone number and date of birth. Your arch will appear during the robbery. Choose the method that is most convenient for you to check your credit history.