If you're looking for an online personal loan, you've probably already realised that your credit score is a key factor in getting approved and released, haven't you? Credit protection organisations such as SPC Brasil and Serasa Experian are responsible for monitoring and classifying each consumer according to their purchasing practices and punctuality in making payments.

This is how a score will be generated, informing companies that grant credit whether the profile is trustworthy or not.

If your credit score is low, it's very likely that your application for a personal loan will be denied. This process is the same as when you apply for a new credit card.

What we realise is that many of our readers are interested in finding out how they can increase their score to get approved for personal loans online, apply for new credit cards and other types of financial services.

How is the credit score calculated?

The score is calculated on a scale of 1 to 1000, where:

• 0-200: Very high risk of default;
• 201-400: High default rates;
• 401-700: Medium risk of default;
• 701-900: Low risk of default;
• 901-1000: Very low risk of default.

To generate this data, consumer credit behaviour is analysed, i.e:

• Whether there is a habit of paying bills on time or whether they are always paid late;
• The number of credit applications made;
• The relationship established between banks and finance companies;
• CPF status.

Do you have a low score and can't increase it? Here's the solution for you.

For example, late payment of bills or not having any accounts in the applicant's name is a problem. Furthermore, going out and applying for credit or various personal loans also raises the alarm that something is wrong.

These actions won't put your CPF in jeopardy, but they will cause you to lose points, you see.

That's why we want to help you keep your score up!

We want you to understand that having a clean name doesn't mean that your personal loan will be approved. This is because if you are not recognised as a citizen with accounts to your name, approval will not be possible.

Don't apply for credit unnecessarily

If you don't need a new credit card or don't want a personal loan, don't apply just to find out whether or not you'll be approved.

Many consumers end up applying for this type of credit to check that everything is OK with their name and don't realise that it takes away points.

Currently, you can make free enquiries to check the status of your CPF and your score via the Serasa Consumidor website and other credit bureaus such as SPC Brasil, Quod and Boa Vista.

Anyway, there's no need to do any tests.

If you have debts, negotiate

Even if they are expired. This tip is very valuable and few consumers pay attention to it.

What happens is that when a company or financial institution negates your name, if it isn't placed in active debt or registered with a notary, it will "disappear" after 5 years.

The problem is that it only disappears from the general register. For a company that has not been paid, its name goes on a list of non-payers and it can refuse a credit application for no reason.
Although it's a practice that shouldn't happen, many companies do it.

Authorise your positive registration

Created to speed up the granting of credit, the Positive Registry is a great option for those who want businesses, banks and financial institutions to see that their payment flow is constant and punctual.

Before, it was necessary to activate the positive register. Now, the government guarantees that activation will be automatic and little by little, all CPFs will be registered.

On the Serasa ConsumerYou can check whether your enrolment has already taken place. If not, you can activate it by following the steps below.

Why am I not approved for the loan?

Each bank or financial institution has its own rules for accepting or rejecting a loan, credit card or financing application. However, some points are common to most companies and help you understand why your loan application was rejected.

Low Credit Score: The credit score is a key factor in getting your loan approved by the bank, so it's essential to have a high score in order to be approved first.

Do you have a low score and can't increase it? Here's the solution for you.