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It is common for program aspirants My Home My Life have questions. Many people want to increase their Serasa score, as they believe that this way they will have more opportunities to be approved for financing a property.
Serasa plays a vital role as one of the leading credit agencies in Brazil, focused on financial services and credit assessment. It collects and maintains financial and credit details about individuals and corporations.
THE Serasa Score is a metric that ranges from 0 to 1000 and is used to estimate the likelihood of a customer honoring their financial commitments. A high score indicates greater ease in obtaining credit.
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This metric has become essential for several financial institutions and companies when measuring the risk of granting credit to someone.
With the aim of refining and improving this assessment, Serasa introduced, in August, the Score 3.0. In this version, Brazilian citizens can link their banking information for more detailed analysis.
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Certainly, optimizing your score is a valuable strategy for those seeking credit. But the question is: in the program My Home My Life, is this score relevant? Find out now!
Serasa: what determines the score?
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Serasa's credit score calculation takes into account several elements that reflect a person's financial history. Although the exact formula is confidential, factors that are often considered in Serasa's score include:
- Payment History:
This is crucial. Payments made on time for bills, financing and cards have a positive impact, while delays or non-payments can reduce your score.
- Current Debts:
The total amount of your debts, such as loans, financing and cards, affects your score.
- Credit Experience:
The length of your credit relationship counts. Typically, a longer track record with a good credit history will benefit your score.
- Account Diversity:
Having different forms of credit, such as cards, loans and financing, is positive. It shows financial commitment.
- Credit Checks:
Frequent credit requests within a short interval can be seen as a risk warning.
- Credit Usage:
The ratio of your debt to your credit limit, also called your utilization ratio, is crucial. A ratio below 30% usually benefits your score.
- Default Records:
Having records of significant delays or legal charges is detrimental.
- Recent Credits:
Opening multiple accounts in a short period of time may signal risk.
The impact of each factor can differ, so monitoring your credit report frequently is essential.
What about Score 3.0?
With the new model, in addition to the factors mentioned, others are also considered:
- bank statement;
- income;
- financing;
- card history, among others.
Some consumers are wary of this, as their banking relationship may not be positive. However, Wesley Brandão, from Serasa, explained to CNN that by integrating the account into the new scheme, the customer does not lose the existing score. By making the switch, the system can maintain or improve the score.
“Overdue debts, for example, reduce the score, but a good payment history increases it. Bank integration can reinforce this,” he says.
However, the score may vary over time, depending on financial management and the information provided.
Brandão emphasizes that joining the new scheme is not compulsory, but can be done on the website serasa.com.br.
Caixa Econômica consults Serasa when evaluating financing for My Home My Life?
Definitely yes! However, the score is just one of the pieces of information provided about the potential buyer.
We mention the various factors that influence the score, and overdue debts are recorded in the profile.
However, Caixa does not focus on your score, but whether you have restrictions at the time of analysis.
Unfortunately, those who have restrictions due to debts with agencies such as Serasa and SPC cannot obtain financing. My Home My Life. The same applies to your partner if you are married.
Therefore, if there are any outstanding issues with SPC and Serasa, it is crucial to regularize your situation first.
To check possible restrictions, download the SPC and Serasa app and check with your CPF and, if applicable, your partner's.
Read also: Learn all about Amounts Receivable
Steps to regularize pending issues in My Home My Life:
- Assess your Financial Situation: Understand your debt and the reason for the restriction in SPC and Serasa.
- Negotiate with Debtors: They may present several settlement options. Weigh them all and choose the most appropriate one.
- Pay off Debts: After reaching an agreement with your debtors, make payments as agreed.
- Please wait for update: The Consumer Protection Code stipulates a period of up to 5 business days after payment to remove the restriction.
